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AZR Aztec Res.

10.00
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Aztec Res. LSE:AZR London Ordinary Share AU000000AZR4 ORD SHS NPV
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 10.00 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 10.00 GBX

Aztec Res. (AZR) Latest News

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Aztec Res. (AZR) Discussions and Chat

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Date Time Title Posts
22/12/200609:24Aztec resources136

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Posted at 20/12/2006 12:35 by red ninja
Mt Gibson have got close to 90% of AZR presumably they can go for a compulsory takeover if they get 90% ?
Posted at 19/12/2006 14:52 by avickers
No problem, are you invested in any other companies at the moment? Or in the research stage? AZR do look interesting, but dont expect any quick returns.
Posted at 03/11/2006 22:38 by red ninja
MiningNews.net

Another iron ore tipster backs rise

Wednesday, 1 November 2006
Paul Garvey

NATIONAL Australia Bank economist Gerard Burg has joined the growing band of forecasters tipping another iron ore price rise in 2007, saying the growth in domestic Chinese production would not prevent prices rising by up to 10% next year.

In the NAB Iron & Steel quarterly released yesterday, Burg said a tight market outlook had prompted him to forecast a 10% rise in the price of Australian iron ore fines, and a 7.5% jump in the price of lump.

Burg said the high-cost supply alternatives for China – the spot market and domestic production – were likely to increase the demand for contract volumes.

"China's iron ore production increased by 45% in the first nine months of 2006, however, falling iron ore content of this output reduces the significance of this growth, as does the relative cost – which is higher than equivalent Australian ore," Burg said.

He quoted reports suggesting the iron content of Chinese iron ore had fallen to below 25%, meaning the growth in output may only be sufficient to maintain market share for domestic ore.

"Reduced iron content implies increased impurities in the ore – which imposes increased cost and complexity for steel mills," Burg said.

He also said major expansion upgrades at iron ore mines in Australia and Brazil were unlikely to come online in time to influence 2007 iron ore price negotiations.

Click here to read the rest of today's news stories.
Posted at 21/6/2006 07:47 by red ninja
Further confirmation of the rise in Iron ore prices :-

Rio Tinto PLC
21 June 2006

Iron ore price settlement

Hamersley Iron has today reached agreement with Chinese steel mills on the
prices for deliveries of Hamersley's lump ores and fine ores during the contract
year commencing 1 April 2006. Under this agreement, the prices of lump ores and
fine ores will increase by 19 per cent.

Sam Walsh, chief executive of Rio Tinto's Iron Ore group, said, 'I am very
pleased that the annual price discussions with our major market have been
concluded in line with settlements previously established with other major Asian
buyers. The settlements reflect Hamersley's ongoing commitment to the Chinese
market.'
Posted at 31/5/2006 16:03 by red ninja
IRon ore prices looking healthy should do AZR good :-

Chinese Steel Officials Claim They Were "Bullied"

By Interfax-China
31 May 2006 at 07:56 AM EDT


SHANGHAI (Interfax-China) -- Chinese steel officials are claiming that Companhia Vale do Rio Doce (CVRD) bullied steelmakers into accepting a 19% iron ore price increase.

"CVRD warned China not to reject a 19% increase in the price of iron ore. CVRD will not load iron ore shipments at 2005 contract prices in Brazil's ports bound for China." Hou Yan, an official with the National Development and Reform Commission (NDRC), told Interfax Wednesday.




Hou said many ships from China have had to wait in ports and pay more than $10,000 per day for prolonging the loading date. Usually, the port charges $3,000 for each 10,000 tonnes of shipments.

CVRD's attitude during negotiations had a significant impact on Chinese steelmakers, according to Hou.

"The China Iron and Steel Association has reported the situation to Ministry of Commerce (MOFCOM)," he said.

CVRD officials were unavailable for comment.

According to government sources Tuesday, China will accept a 19% increase in the price of iron ore for the fiscal year, ending months of negotiations with BHP Billiton [NYSE:BHP], Rio Tinto [NYSE:RTP] and CVRD [NYSE:RIO]. The agreement comes after several European and Asian steelmakers accepted a similar deal from suppliers earlier in the month.

However, Baosteel nor the China Iron and Steel Association have yet announced the deal. Sources told Interfax that the agreement will officially be signed in June.

In March, China tried to influence the talks by implementing a price-cap policy on iron ore entering the country. But after pressure from Australia - the home of Rio Tinto and BHP - the situation was diffused.

Most types of steel products saw prices rise last week under pressure from the iron ore talks, Baosteel's price increase and rumors of a reduction to the tax rebate.

The average steel product price was RMB 4,061 ($507.63) per tonne last week, up 1.12% from previous week but down 14% from last year.

Construction steel product prices averaged RMB 3,374 ($421.75) per tonne, up 2.27%; steel plate prices were RMB 4781 ($597.63) per tonne, up 0.95%; pipe prices were RMB 4,845 ($605.63) per tonne, up 1.11%; steel section prices were RMB 3375 ($421.88) per tonne, up 0.56%, according to the NDRC's price monitoring center.

In addition, Baosteel's third quarterly price policy, which raises core product prices by around 7%, also impacted steel product prices.

"Baosteel's product prices are basically benchmarks for other domestic steelmakers. We've seen significant steel product price increases in the domestic market after Baosteel announced its price policy," Hou said.

Also, rumors that China is going to decrease tax rebates on steel product exports also stimulated steel product prices for the short term.

Morgan Stanley's chief economist said Wednesday that government ties worked against the mills.

"Chinese steelmakers, which are state-owned, cannot win international negotiations with western-oriented business rules," Andy Xie, Morgan Stanley's chief economist in Asia, told Interfax Wednesday.

Xie said Chinese steelmakers, like other state-owned enterprises, are still unaccustomed to negotiations with foreign counterparts, although they have made greater strides in recent years.

"Companies can rarely gain advantages from government-appointed leaders who do not comprehend the international business strategies," Xie said.

Xie also said due to weak connections with upstream industries, Chinese steelmakers are in a feeble position compared with their foreign rivals during the iron ore price negotiations.

"The Chinese government should encourage its state-owned industrial companies to develop sources in their upstream sectors and pay more attention to preserving mineral and metals reserves," Xie said.

Zheng Dong, a steel analyst at Guosen Securities Co. Ltd., said Chinese steelmakers using Australian and Brazilian ore can afford limited higher production costs.

"For instance, Baosteel would only see a two-cent cost rise per share," Zheng said.

Zheng said major steel mills raised their product prices for the third quarter to counterbalance the potentially higher iron ore prices.

Baosteel's crude steel production costs will increase by only RMB 100 ($13) per tonne with the higher prices, Baosteel's Chief Financial Official Chen Ying said at a shareholders conference held on May 17.

"And the steel makers using domestic ores will escape the impact of the price hike by increasing the production of domestic iron mines," Zheng said.
Posted at 03/5/2006 07:12 by biswell
Thanks Red

Perhaps when resources are increased as AZR have indicated is likely , you could put up a revised PER figure which hopefully will then agree with my number 4. At the time I did the maths iron ore had hit around $75 ish , and over the next 10 years I thought $100 might be about right as an average figure.

Chart is looking better of late is it not, and I think CBM at some point will make a move for the company. If as I hope and expect the share price of Aztec improves as contracts get signed....ore gets shipped....and extra resourses are detailed, the Mkt Cap gets bigger and CBM will have to find more money.

So the sooner the better for them I would have thought, which is why at this point in time AZR in my opinion represents a better punt that CBM itself which is fully valued now.

B
Posted at 02/5/2006 14:55 by red ninja
Iron ore to stay strong :-

Boom in iron ore brings Australian miner to AIM
By Peter Klinger



THE global iron ore boom shows no sign of abating, as an Australian company that wants to develop its own mine is set to list in London this week with a £70 million price tag.
Shares in Cape Lambert Iron Ore, which is listed already on the Australian stock exchange, are due to start trading on AIM on Thursday.



Cape Lambert, which has signed up Collins Stewart as nominated adviser and broker, is not raising new funds, but expects the City's appetite for stocks with exposure to China's economic boom to trigger strong interest in its shares.

The company wants to develop an iron ore project in the Pilbara region of Western Australia. The project contains 2.5 billion tonnes of ore, with a 30 per cent iron content, and Cape Lambert expects to be producing 7.5 million tonnes a year from 2009.

Cape Lambert's listing on AIM is timely. The world's three dominant iron ore miners - CVRD, of Brazil, and the Anglo-Australian rivals Rio Tinto and BHP Billiton - are engaged in their annual round of price negotiations with key steel mill customers in China and Japan.

Iron ore is the key ingredient for steelmaking. Global steel demand has soared because of the huge economic growth in China and India, two of the world's biggest economies. China imports 200 million tonnes of iron ore a year.

The protracted negotiations, which are taking longer than expected, will set the price under which the three miners, which control about 70 per cent of world supply, will sell most of their iron ore over the next 12 months. The price is a yardstick for other iron ore miners.

Last year the iron ore troika managed to force through an unprecedented 72 per cent rise in price. The rise shocked the steel mills, in particular those in China, which in the past had let their Japanese peers lead the negotiations, and they are resisting the troika's demand for a 20 per cent rise this year.

Cape Lambert will not be in a position to benefit from the soaring iron ore prices for at least another four years. However, independent analysts are confident that iron ore industry conditions will stay buoyant. The confidence is underwritten by the long time that it takes to develop new iron ore projects, which often require billions of dollars of investment in infrastructure such as railways.

Rio Tinto has just begun construction of its US$1 billion (£547 million) Hope Downs project in Western Australia, which holds 644 million tonnes of ore, graded 61 per cent iron. Rio Tinto will produce 30 million tonnes a year from 2008.

PROSPERITY

The buoyant conditions for iron ore are part of the reason why Prosperity Minerals, a Chinese company advised by Evolution Securities, is seeking to raise about £100 million as part of its £200 million AIM flotation.

Prosperity's two assets are a huge cement business in the Guangdong region and an iron ore trading business.
Posted at 27/4/2006 16:55 by mkh200
Looks like time to leave AZR. With increasing Chinese demand now likely to slacken AZR should be producing just as prices start to ease. $65/t has held for 2 years and we can expect a fall to a 50% premium on the $30/t level of 2003. Exploiting the remnants of the discarded BHP Woolan mine AZR will be a high cost, marginal producer, especially vulnerable to weaker ore prices.
Posted at 18/3/2006 10:53 by red ninja
I guess this :-

"Sinom held a 9% stake in Aztec at the time the MOU was signed, but has since diluted its stake in the iron ore junior to less than 3%"

explains the weakness in AZR share price as its looking good for AZR with production looming and sales agreements progressing.
Posted at 10/3/2006 14:26 by red ninja
Australia Raises Concern Over China's New Iron-Ore Price Cap

By Randy Jensen and Erik Dahl
09 Mar 2006 at 10:09 AM EST


SHANGHAI/BEIJING (Interfax-China) -- The Australian government is expressing concern over documents that may reveal the Chinese government's intentions to pressure international ore markets though a secret price-cap policy. The central government responded by ordering domestic newspapers not to report on the price-cap story, insiders told Interfax.

"We are aware of the existence of these documents and concerned about these documents and the intent behind these documents," an Australian official, who wished to remain anonymous, told Interfax.



The Ministry of Commerce (MOC) denied the existence of the price-cap documents during a meeting with Australian officials on Wednesday. Following media reports to the contrary, the Australians are now seeking clarification with senior Ministry officials, the Australian official said.

Yesterday the MOC asked several key newspapers to "put down" the report that the central government capped the price of imported iron ore, journalist sources said.

"The notice says newspapers under Beijing's direct supervision are not allowed to report any stories about the iron ore price cap, nor to mention or speculate on the affair," an senior editorial source in the Chinese media told Interfax yesterday.

Despite the official news blackout there are unconfirmed reports that China may already be taking action against ore shipments.

An Australian iron ore cargo ship has met trouble entering Qingdao Port, an official with a Beijing-based Japanese mineral and metals trader told Interfax. Interfax has not yet been able to verify the situation with government and port authorities.

Information that the Chinese government may be trying to cap prices began filtering through the industry late Tuesday night. Provincial MOCs were calling steel mills and reading them the content of the notification, an industry insider told Interfax.

A MOC official denied it has implemented an iron ore import price-cap policy when contacted by Interfax, saying here had been lots of rumors and inaccurate information about the topic since China joint in international iron ore price negotiations last year, which had actually had a largely negative affect on China's status in the negotiation.

"I suggest the over-reacting media stop reporting inaccurate information about the topic," she said.

China still insists on a price reduction in this year's iron ore negotiation, Ai Baojun, president of Baoshan Iron and Steel Corp. said yesterday.

Ai made the comment in Beijing during the National People's Congress, the state-owned Shanghai Securities Journal reported.

China's request on price reduction "is still under negotiation," said Ai. He pointed out that the iron ore negotiation should target sustainable development between iron mines and steel mills, rather than the function of supply and demand.

Currently, Baosteel is representing Chinese steel makers during the iron ore price negotiations with the major iron ore suppliers, who called for a 10% to 20% price increase on iron ore starting April.

After Interfax received a copy of a government document it became obvious that Beijing intends to politicize the company-to-company talks.

The tough secret directive, issued to key ports, expressed the intention of protecting the country's domestic steel industry by refusing shipments of ore priced above a price cap, and specifically ore from the three main iron ore suppliers - BHP Billiton [NYSE:BHP; LSE:BLT] and Rio Tinto [NYSE:RTP; LSE:RIO], and Brazil's CVRD.

The Ministry of Commerce intention in blocking iron ore imports above the price cap is in order to put pressure on overseas suppliers during the annual benchmark price negotiations.

© InterFax-China 2006. For more intelligence on Chinese metals and mining, click here or call Alison Crawford in London on +44 (0) 20 7256 3919.
Aztec Res. share price data is direct from the London Stock Exchange

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