Debt Free/long term/caution16 Jan 2018 12:39
I would like to wish all investors well and remember never to invest what you can't afford to lose. I originally invested in AAZ on the 11 Jan 2011 @ 77.2 p Then again on 26 Oct 2012 @ 53p, again on 20 sept 2013 @ 31.5, and Finally 4.Nov 2013 @28.5. Our Share club had invested quite substantially as well. The demise started with the contract AAZ had with the AZER Government. It was then charging 10% for a loan and took a cut of the actual gold produced. When harsh winters hit production and the price of Gold dropped the price collapsed. The AZER government gave no relief to AAZ to help during this time. Infact it ventured into the mining business itself by opening its own operations. AZZ must be complimented for surviving and turning itself around and recently getting a cut in its loan rate to 8% But I feel that Caution must be held about the AZER government itself. Also I believe that paying 8% on its loans From the AZER government is probably better than paying it off. The original contract stated that when AAZ is debt free the AZER government take on Gold and other metals is to increase.