Club Mulgoa

Monday, August 27, 2012

AZM RRS RMP - disappointing announcements

When AZM announced its JORC resource yesterday, even I could tell that this stock is going to be punished.  It is a bit like CDU last year.  There was a lot of hype but the final figure did not match the expectation.  But sometimes market fails to realize that there is more drilling results to come.  At the moment, the market is not in the mood to tolerate any disappointing news.  AZM will have a lot to show before its share price recovers.

This morning, RRS and RMP will be slaughtered... even though RRS had declared that its "main" interest is in Trinidad.  The drilling in Puntland... nothing but possible oil there.

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