Augusta Res Corp (NYSEMKT:AZC)

Teacherman1 (47.99) Submitted: 6/8/2012 1:19:45 PM : Start Price: $1.98 AZC Score: +31.30

Didn't sell. Just closed and re-opened to more accurately reflect my start price.

This is a development stage copper mine in Arizona, which is still a year or so away from actual mining.

They are attempting to get their final permits approved, but are running into opposition from local environmental groups and to some extent, a regional EPA manager.

They are slowly and methodically addressing the questions, but it has slowed to a "snails pace".

They have financing in place (which was recently renewed), and have some significant companies who have committed to purchase their copper and silver production if and when they finally start the actual mining operation.

Since anything can happen, this is a somewhat speculative play, but they have put a lot of time and money into getting it to this stage and have indicated that they will continue to do so.

I wouldn't buy a lot, but at this price, I believe it has a better than even chance of eventually paying off big.

JMO and worth exactly what I am charging for it.