ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for default Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.

AAZ Anglo Asian Mining Plc

59.00
2.00 (3.51%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Anglo Asian Mining Plc LSE:AAZ London Ordinary Share GB00B0C18177 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  2.00 3.51% 59.00 54.00 59.00 57.00 56.50 57.00 171,210 16:35:25
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Miscellaneous Metal Ores,nec 84.72M 3.66M 0.0320 17.66 64.55M
Anglo Asian Mining Plc is listed in the Miscellaneous Metal Ores sector of the London Stock Exchange with ticker AAZ. The last closing price for Anglo Asian Mining was 57p. Over the last year, Anglo Asian Mining shares have traded in a share price range of 36.50p to 122.50p.

Anglo Asian Mining currently has 114,242,024 shares in issue. The market capitalisation of Anglo Asian Mining is £64.55 million. Anglo Asian Mining has a price to earnings ratio (PE ratio) of 17.66.

Anglo Asian Mining Share Discussion Threads

Showing 26951 to 26974 of 143300 messages
Chat Pages: Latest  1088  1087  1086  1085  1084  1083  1082  1081  1080  1079  1078  1077  Older
DateSubjectAuthorDiscuss
25/4/2017
18:24
jbe81
mattjos
Cheers

ferries5
25/4/2017
18:04
My point was that zhockey called out Matt for "ramping the stock and then selling", then did the same himself. Everybody is entitled to their opinion and also entitled to change there mind. From his posts maybe he still holds and is just trying to create debate.
jbe81
25/4/2017
17:36
Do we have a date for the 2017 AGM? Their financial calendar says it falls in June.
goodgrief
25/4/2017
16:54
not bullying ferries ... just that zhockey is making observations that are not in line with the facts we have been told.

Anyway, if I can make it to the AGM from Derby, I'm pretty sure that a good many others can get there if they put their mind to it.

mattjos
25/4/2017
16:00
Going back to my reason for selling, I suspect the market is going to be sceptical of the company's plans, regardless of how effective we think they are. That the share price has tanked is not subjective.
zhockey
25/4/2017
15:36
Ore mined from the open pit has recently had a lower gold grade and a higher percentage of copper than ore previously mined. It was therefore decided to carry out an extensive programme of exploration and production optimisation to better understand the distribution of copper in the ore body and to define the resource and reserve. Mining will therefore be temporarily stopped in the open pit in Q2 2017, and during the remainder of 2017 approximately 15,000 metres of drilling will be carried out, in furtherance of this programme. It is anticipated that mining from the open pit will recommence in Q1 2018.



Mining of ore from the Gadir underground mine was suspended in February 2017. Extensive underground exploration is being carried out and development tunneling undertaken. It is expected that mining of underground ore will recommence in Q4 2017. Any ore mined from Gadir during this exploration and development phase will be stockpiled for later processing.

bleepy
25/4/2017
15:11
Bleepy I don't really get your point.

Why are they doing 15000m at The existing pit? In my view the hope is to find more high grade "Gadir" type lenses.

zhockey
25/4/2017
15:01
Zhockey
Why don't you report as it reads, they are carrying out extensive exploration and production of both MAIN OPEN PIT and GADIR UNDERGROUND mines


"These initiatives include extensive exploration and production optimisation of both the main open pit and the Gadir underground mines to enable the company to gain a better understanding of the resource so that we can develop Gedabek in the most effective way."

bleepy
25/4/2017
15:00
I suspect you do
:)

jbravo2
25/4/2017
14:50
Jbravo,

I suspect they are looking for more Gadir's under the existing resource.

zhockey
25/4/2017
14:40
Down 60%? Its up from this time last year or indeed from the time of the last AGM.
Its down more than 60% from its peak ever. Why don't you use that instead? ;)

"Practically written off their main gold reserve"?
I guess you're using the word "practically" to denote that they've not actually done that. It would be strange to write it off and then drill 15,000m or whatever it is they've said they'll do.

jbravo2
25/4/2017
14:20
Anglo Asian completes strategic review
By StockMarketWire | Tue, 18th April 2017 - 08:22
Anglo Asian Mining has completed a wide ranging strategic review and has started to implement initiatives to ensure sustainable, long-term production at its Gedabek gold, copper and silver mine in Azerbaijan.

It said extensive exploration and production optimisation was planned for both the main open pit and Gadir underground mines in 2017 and Gedabek ore stockpiles would be processed while exploration and production optimisation was on-going during a temporary pause in mining ore.

It said ore mining would commence from a new open pit at the recently discovered Ugur deposit in the fourth quarter of this year.

- Conservative gold production target for Gedabek for the year to 31 December 2017 of between 52,000 ounces and 58,000 ounces (which includes approximately 8,000 ounces to 10,000 ounces of production from the flotation plant and 8,000 to 10,000 ounces from the new Ugur open pit), reflecting the strategy of exploration and long term production optimisation

- Copper production target for FY 2017 of between 2,000 tonnes and 2,400 tonnes, comprising between 600 tonnes to 700 tonnes from SART processing and between 1,400 tonnes to 1,700 tonnes from flotation

- Total production target for FY 2017 expressed as gold equivalent ounces of between 64,000 ounces and 72,000 ounces compared to FY 2016 actual total production of 72,304 gold equivalent ounces

It said gold production for Q1 totalled 11,078 ounces - 9,258 ounces contained within gold dore, 5 ounces from SART processing and 1,815 ounces from flotation (Q4 2016: total 15,483 ounces).

Copper production for Q1 2017 totalled 606 tonnes - 210 tonnes from SART processing and 396 tonnes from flotation (Q4 2016: total 578 tonnes).

Silver production for Q1 2017 totalled 39,369 ounces - 2,447 ounces contained within gold doré, 5,523 ounces from SART processing and 31,399 ounces from flotation (Q4 2016: total 50,216 ounces)

Chief executive Reza Vaziri said: "Following completion of a wide ranging strategic review we are now implementing various initiatives to ensure sustainable, long-term production at Gedabek.

"This is in response to our discovery of the Ugur deposit and a recent reduction in ounces of gold produced due to the decreasing gold grade of ore mined.

"These initiatives include extensive exploration and production optimisation of both the main open pit and the Gadir underground mines to enable the company to gain a better understanding of the resource so that we can develop Gedabek in the most effective way.

"We are also testing a new configuration of the flotation and agitation leaching plants to give us added flexibility in processing.

"Important to this strategy is that we have extensive stockpiles of ore at Gedabek, which can now be processed initially by flotation, whilst mining is temporarily paused.

"Given the increasing proportion of copper in our production we will now also be presenting our total production target as gold equivalent ounces to aid comparability.

"The temporary cessation of mining in the main open pit for the remainder of 2017 will also enable redeployment of the equipment necessary to develop the newly discovered Ugur deposit into an open pit mine located three kilometres from Gedabek.

"This is an exciting development for Anglo Asian and we plan to start production from the open pit at the Ugur deposit in Q4 2017.

"Whilst we undertake this exploration and optimisation throughout the remainder of 2017, we will understandably see a reduction from the level of gold production seen in the past two years, and this has been reflected in our gold production target for the year.

"However, this will be offset by increasing production of copper and we are confident that the initiatives that we are taking this year will provide the foundation of future sustained growth and development of the company."

bleepy
25/4/2017
13:54
Jbravo, not long ago you were predicting a step up in production and great news ahead. The share price is down 60% and the company have practically written of their main gold reserve. Not really all that great is it?
zhockey
25/4/2017
13:29
thanks jbravo
mattjos
25/4/2017
13:03
lol zhockey.

What has happened that has been so terrible?

jbravo2
25/4/2017
13:01
MKS Finance SA
jbravo2
25/4/2017
13:00
Last year guys came away from the AGM full of hope, look what happened
zhockey
25/4/2017
12:52
can anyone remember the Swiss refiner that processes our gold dore please?
mattjos
25/4/2017
12:29
May I make one suggestion please?

A better turn out for the AGM! This is the one annual opportunity for all investors to meet the Directors face to face & ask all these questions.

The Directors make the effort to travel to London and make themselves available .... I think the least an investor can do is, time permitting, reciprocate & attend the AGM.

Ask these questions directly to the Directors. It must be rather frustrating for the Directors to make this effort and not see more investors in the room. The event will cost money for the company to lay on ... make use of it all.

Folk always go and look at a new car before they buy it .. probably look at loads of them. Go to dealers and showrooms etc.

Why not go to the AGM? ... ask the questions you want answering and reinforce the message that the Directors are duty-bound to run the company for the benefit of the shareholders.
There will be folk here who run their own companies & are geologists / miners etc .. All are bound to have valid opinions which can be voiced at the AGM.
I am quite sure that Reza and the BOD would be very pleased to see a greater AGM attendance

mattjos
25/4/2017
12:13
As matt has already pointed out...
The size of Ugur has been indirectly hinted at by the amount of earth they are preparing to move.
Ugur is an oxide ore with low to no copper that will match or possibly even surpass the size of Gedabek.
Until then we'll use the 1.1m of already mined sulphide ore.

The AL plant will be very useful Jan-Feb, come the cold months and all the new oxide ore ready to be dug and treated.


I stick to my prediction of doubling recent share price highs THIS year.

jbravo2
25/4/2017
12:13
Yes, I do!!
Are you going a bit do-lally zhockey?

mattjos
25/4/2017
12:01
I was only responding to TPs comment on management. How is that deramping?

Does anyone here genuinely think that the AL plant was a good investment?

zhockey
25/4/2017
11:11
Totally agree Mattjos.

Just take a look at zhockey's past posts, he clearly ramps and deramps to suit his trading style. It's easily spotted when he is in and when he is out. He attempts to disguise it with eloquence, bit like a used car salesman.


As Mattjos pointed out the team at Aaz have outlined their strategy in fine detail. They will as always have short,medium and long term plans in place and strategise those to optimise results going forward.
1-2yr, 5yr and 10yr planning is an ongoing process in a well run company.

bleepy
25/4/2017
10:16
You can look at it that way zhockey or, you can now see that they have what looks like will be a large oxide resource 3km away at Ugur to feed the AL plant.

They have 6 quarters worth of Sulphide ore stacked at Gedabek to keep the Flotation plant busy and in parallel can do what's necessary to open up Gedabek open-pit for further mining after that.

Given the variation in ore types around the Gedabek complex, it seems entirely sensible to have the options for Heap, Agitation, Flotation & SART.

The challenge is to plan ahead (based on exploration and drilling) to ensure the ores are pre-selected and taken through the correct processing route in order to maximise extraction rates and minimise production costs.

If it was easy, everyone would be doing it. The company continues to gain knowledge & operational experience in-country which puts it far ahead of any other miners & that is an asset that no one seems to put any value on ... just now!

Whilst we will have to wait for the exploration updates over coming months, I do not see that the financial footing of the company is at any more risk now than it was 12 months ago. Arguably it is stronger with debt reductions already achieved.

The whole Chovdar opportunity is still there ... The tendering process is the method by which the asset is being 'cleaned up' to ensure future production is saleable. This is absolutely in-line with what the Directors said was their intention at the AGM last year.

mattjos
Chat Pages: Latest  1088  1087  1086  1085  1084  1083  1082  1081  1080  1079  1078  1077  Older

Your Recent History

Delayed Upgrade Clock