Aztec Land & Cattle Co Ltd (AZLCZ)

[Enterprising Investor]

Expansion of Wind Project (1/19/24)

Aztec Land & Cattle Company (“Aztec”) has been notified that the lessee of the West Camp Wind Farm has entered into a power purchase agreement for an additional 100 MW bringing the total Wind Farm contracted amount to 500 MW.

The project, as increased, is expected to be built in a single phase. Construction is currently scheduled to commence in March 2024, and the project is expected to be operational by early 2026 (later than originally estimated due to the increased size). Construction and completion dates of the project are subject to change and may be affected by local and market conditions and by delays.

Aztec, as previously announced, will receive a per turbine construction impact fee, now based on 112 turbines, which is due shortly after commencement of construction. If the project becomes operational, Aztec will also receive the greater of a pre-established minimum rent or royalty payment based on a percentage of project revenues. Although we anticipate that the royalty payment would exceed the minimum rent, there is no assurance that it will. The amount of the royalty will depend upon the price of power, how long and consistently project turbines are in use, weather, and other factors; consequently, amounts received by Aztec from the wind lease may vary substantially over time. Accordingly, we intend to report project revenue to shareholders as the project comes online and revenue is earned, rather than attempt to speculate about what might occur in the future.

The lease is still in its developmental phase, and our lessee has the right to terminate the lease at any time. Once construction begins, and the lease enters the operational phase, the lease may be terminated, subject to the payment of a termination fee. The risk that the lessee will terminate is mitigated because the lessee has entered into a power purchase agreement. We do not know the terms of that agreement.

https://www.otcmarkets.com/otcapi/company/dns/news/document/72155/content

[Enterprising Investor]

Renewable Energy Project (12/19/23)

Aztec has been notified that the owner of West Camp Wind Farm will commence construction on a 400 MW wind farm located on approximately 45,000 acres of Aztec’s land.

Construction is expected to begin in early 2024; and the project is expected to be operational by
late 2025.

Aztec will receive a “per turbine” construction impact fee due shortly after the commencement of construction. Once the project is operational, it will receive the greater of a pre-established minimum rent or a royalty payment based on a percentage of project revenues.

https://www.otcmarkets.com/otcapi/company/dns/news/document/71661/content

[Enterprising Investor]

2022 Annual Report - The Apache Railway Company (2/17/23)

https://www.azteclandco.com/financials2022/Apache_Railway_2022_Financials.pdf

[Enterprising Investor]

2022 Annual Report - Aztec Land Company, LLC (2/17/23)

https://www.azteclandco.com/financials2022/Aztec_Land_Co_LLC_2022_Financials.pdf

[Enterprising Investor]

2022 Annual Report (2/17/23)

https://www.azteclandco.com/financials2022/Aztec_Land_&_Cattle_2022_Financials.pdf

[Enterprising Investor]

Shareholder Update (12/07/22)

https://www.azteclandco.com/updates/2022-12-07_Shareholder_Update.pdf

[Enterprising Investor]

Senators press for quicker solar anti-dumping investigation amid reports of sector’s ‘rapid degeneration’ (4/06/22)

https://www.utilitydive.com/news/senators-press-for-quicker-solar-anti-dumping-investigation-amid-reports-of/621654/

[Enterprising Investor]

Shareholder Update on Renewable Energy Development Leases (5/23/22)

https://www.azteclandco.com/updates/2022-05-03_Renewable_Energy_Development_Leases.pdf

[Enterprising Investor]

2021 Annual Report - Aztec Land Company, LLC

https://www.azteclandco.com/financials2021/Aztec_Land_Co_LLC_2021_Financials.pdf

[Enterprising Investor]

2021 Annual Report (3/23/22)

https://www.azteclandco.com/financials2021/Aztec_Land_&_Cattle_2021_Financials.pdf

[Enterprising Investor]

Shareholder Update (10/27/21)

https://www.azteclandco.com/updates/2021-10_Shareholder_Update.pdf

[Enterprising Investor]

Most likely cause.

https://www.tdameritrade.com/retail-en_us/resources/pdf/TDA101550.pdf

[freddie me]

Discount to market or instrinsic value?

[Enterprising Investor]

Further discounts available today.

Maybe it's a function of the hot weather out west?

[Enterprising Investor]

AZLCZ is on sale today.

[Enterprising Investor]

Navajo County Comprehensive Plan (5/24/11)

https://navajocountyaz.gov/Portals/0/Departments/Planning%20and%20Zoning/Documents/Comprehensive%20Plan-NavajoCounty-AdoptedMay_24_2011.pdf#:~:text=Navajo%20County%20is%20required%20by%20state%20law%20to,are%20spent%20wisely%2C%20natural%20resources%20are%20conserved%2C%20and

1

[Enterprising Investor]

2011 Aztec Area Plan, Navajo County AZ (5/24/11)

https://www.azteclandco.com/planning/Aztec_Area_Plan_Final_2011.pdf

[Enterprising Investor]

2020 Annual Report - Aztec Land Company, LLC

https://www.azteclandco.com/updates/2021-03/Aztec_Land_Co_LLC_2020_Financials.pdf

[Enterprising Investor]

2020 Annual Report (3/23/21)

https://www.azteclandco.com/updates/2021-03/Aztec_Land_&_Cattle_2020_Financials.pdf

[CyberGal]

Good to know, but here's another idea for their paper mill, convert it into a hemp processing facility. Here's what another company--they're actually Canadian, is doing in North Carolina.

http://hempinc.com

[LouisDesyjr]

Land use

I get the impression that the land has limited use because most of it is undeveloped and/or desert like area. None of the land appears to have any farming use since there is no mention of farming ever being done on any of it.

I think the real driver for any value is what happens in Snowflake, AZ; and that will depend on commerce. The best future for the town, based on local resources, would be if the paper mill was back in production.

The other possibility is if some company wanted to setup some kind of large office or manufacturing complex and needed all kinds of space for such a development.

I am still amazed that most companies will in an instant off shore production to low cost areas of the world, but then jam their HQ staff into some of the most expensive real estate in the world just to have a place for people to go to an office.

As an example, in the San Fracisco area, one bedroom condos an hour away from the Apple HQ are in the order of $800,000 to $1 million. If someone gets laid off from their job and then replaces it with a job that pays 'only' $100,000 per year, they are ruined and will not be able to pay their mortgage; while the same amount of money would buy them a house with a few acres of land and they would be able to save for retirement.

Louis J. Desy Jr.

[CyberGal]

Is the land good land for farming? If so, they could also grow either cannabis or hemp. They have proposals on the table to legalize industrial hemp. Do you have access to the owners? If so, it might be worth mentioning this to them. Just a thought. . . Land in Colorado is being snapped up like there's no tomorrow because of the cannabis situation, so it's just a matter of time and positioning.

[LouisDesyjr]

More about Aztec

The land is near a small town, Snowflake, Arizona. The population is less than 10,000 people. The big problem is that there does not seem to be much business in the area. While they have some kind of residential development approved, I can't see any large amount of construction since how many more house does one need for a town of less than 10,000 people?

One of the big employers was a paper mill, which also was a major customer for the short haul rail line, but that got bought by a Canadian company and then closed a few years later.

I think what the company needs is for there to be a demand for the land they own. While the rail helps, it is less than 10% of the market cap, so while the rail can add to profit, it can't really drive the stock price. (One way to correct the problem of the rail line profit being overshadowed by the size of the rest of the company could be to spin it off into its own company with its own common stock trading on the public markets.)

I think what would get the company moving on all fronts would be if the price of paper rises, and the paper mill reopens; otherwise one would need to wait for something else in the area to create a demand for more rail service and more residential housing.

Louis J. Desy Jr.

[CyberGal]

Tell me more--like the offbeat plays, plus if they are leasing the land, they are very smart. Do you know anything else about the company?

[LouisDesyjr]

What's going on

It looks like the company may be starting to do something. They have a short haul rail road that they bought out of bankruptcy for less than scrape value. That is not that much of the value in relation to the market cap plus there is a question if the rail road can be profitable after a paper mill closed that was one of the major customers.

Most of the company value is in its land holdings but the question is that while there is value in the land, does anyone want to buy or do anything with the land.

It is expected that it will be a very long time before the value of the land is realized but in the meantime the company seems to be able to cover the carry expenses of the land by leasing out some of it for what it can get.

They have a web site.
http://www.azteclandco.com/contact.html

One can get a copy of the financial statements if they are a shareholder, so you can buy a share and then request a copy of the report.

Louis J. Desy Jr.

[johnydollar]

What you got going on.

[Ivegotanace2]

Hey there jBrown12- I can't reply to your private message but yes i will agree to your terms in the message provided you are able to reply to me by 8:00AM Tomorrow.

Thanks so much and look forward to working with you on many projects
God Bless,
Ace

[Ivegotanace2]

Hey there JBROWN12 I tried to respond to your private message that you sent me yesterday but it would not let me because I have the basic Ihub account.

In response to your message: Why yes I would like to know which ticker you were referring to

TIA,
Ace

[JBrown12]

What's the story here

[LouisDesyjr]

Anyone here?

I just bought some shares and found out that they have a short haul railroad as part of the company.

Louis J. Desy Jr.