From the Desk of CT
Summit valued at $250m US based on current metal prices. AZMN has approximately 60m shares outstanding. Simple math shows me a value of $4 per share if the Summit were the only property owned by Azco Mining.
Azco also owns the Ortiz Goldfields with a 2m ounce reserve, the Black Canyon Mica Project, and the only MIO deposit in North America. The company recently retired all debt. Now that the company has completed their filings I forsee a move to the Amex in the near future.
In my opinion, Azco Mining - AZMN, continues to be the most undervalued asset on planet
to profile or promote any company.
Source: Azco Mining Inc.
Azco Mining Resumes Trading on Over-the-Counter Bulletin Board
Thursday March 22, 8:58 am ET
GLENDALE, Ariz., March 22 /PRNewswire-FirstCall/ -- Azco Mining Inc. a U.S.-based mining and exploration enterprise focused on gold, silver, copper and industrial minerals, has resumed trading on the Over-the-Counter Bulletin Board.
In November 2006, Azco Mining began trading on the Pink Sheets after a delay in financial reporting due to extra time required to complete an audit of the 2004 and 2005 financial statements of the Lordsburg Mining Company, which Azco Mining purchased in May 2006 in order to acquire the Summit silver- gold deposit located in Grant County, N.M. Last month, Azco filed a 10KSB and two 10QSBs, bringing the company current in its financial reporting.
Azco Mining CEO Dr. Pierce Carson said, "Our return to the OTCBB corresponds with the near completion of feasibility work on the company's Summit silver-gold project. We are poised to begin planning a schedule for project development after we receive an estimate of capital and operating costs from an independent engineering study. At today's metal prices, in- ground values at Summit are believed to exceed $250 million. Our top priority is to begin mining at Summit."
"The money we generate at Summit will be used to fund engineering and resource work on our Ortiz gold project and to pursue other precious and base metal opportunities for acquisition. With the filing issue now behind us, we are focused on maximizing value from our precious and industrial minerals projects for the benefit of shareholders."
About Azco Mining Inc.
Azco Mining is a U.S.-based mining and exploration company focused on acquiring and developing gold, silver, copper and industrial mineral properties. The company owns the Summit silver-gold property and a mill site and processing equipment in southwestern New Mexico; mineral lease rights to the Ortiz gold property in north-central New Mexico, believed to contain 2 million ounces of gold; the Black Canyon mica mine and processing facility near Phoenix, Ariz.; and a large resource of micaceous iron oxide MIO in western Arizona. Azco Mining intends to build a portfolio of high-quality, diversified mineral assets with an emphasis on precious metals. To learn more about Azco Mining Inc., visit http://www.azco.com.
An investment profile about Azco Mining may be found at http://www.hawkassociates.com/azmnprofile.aspx. To receive free e-mail notification of future press releases for this company, sign up at http://www.hawkassociates.com/email.aspx.
For investor relations information regarding Azco Mining, contact Frank Hawkins or Julie Marshall, Hawk Associates, at 305-451-1888, e-mail: email@example.com . An online investor kit including press releases, current price quotes, stock charts and other valuable information for investors may be found at http://www.hawkassociates.com and http://www.americanmicrocaps.com.
The information contained herein regarding risks and uncertainties, which may differ materially from those set forth in these statements, in addition to the economic, competitive, governmental, technological and other factors, constitutes a "forward-looking statement" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995 and is subject to the safe harbors created thereby. While the company believes that the assumptions underlying such forward-looking information are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the forward-looking information will prove to be accurate. Accordingly, there may be differences between the actual results and the predicted results, and actual results may be materially higher or lower than those indicated in the forward-looking information contained herein.
Investor Relations Contact:
Hawk Associates, Inc.
Frank Hawkins and Ken AuYeung
Source: Azco Mining Inc.