Anglo Asian Mining Share Discussion Threads

[jbravo2] 22/9/2015 10:01

Exactly brasso.
Then once you realise, as mattjos said, most of the significant spending is done things look rosier still.
The dam wall raising has doubled the capacity, the flotation is all but done, and some significant stripping has been completed. (Although clearly more stripping will be needed sooner or later)
Then, most importantly of all, the game changer of the cost reduction via the flotation plant, with the added bonus of extra copper and gold.
Stick on the intrigue of possibly other metals via the trial 12 small flotation tanks.
What's not to love here?!

[mattjos] 22/9/2015 09:57

Welcome aboard Cyber ..... If you search the thread for my posts you will find a couple I have made with details all about Bashirov

[brasso3] 22/9/2015 09:53

A few more weeks with daily volume above 0.5m and Bashiroy will be out of the way. just looking at 2015 YE numbers.

Average gold price: $1150
Operational costs: $736
Total gold production: 72,000 oz

72,000 x (1150 - 736) = $30m

Nice!

[jbravo2] 22/9/2015 09:42

Hi cyber,
Bashirov is a long term holder. He's been selling for over a year now. He had over 18m shares at one point and is now down to 4m at last declaration.
He doesn't follow the rules on declarations and so may already be below 3%. The company have tried many times to engage with him but to no avail. We don't know the reason he is selling. He started selling at 30p so with hindsight you could say that is shrewd, but he didn't sell any when it was 50-80p. That would suggest he simply wants out now and is selling at any price down to c.4.5p. He only issued his last holding notice after significant pressure was placed on his broker after the volumes traded clearly meant someone had to disclose.
He's the reason you can buy at 5p so it's not all bad but he won't last for long now.

[cyberbub] 22/9/2015 09:37

I have just bought 160k... keeping an eye out and might buy more...Who is this Bashirov feller then and why is he selling? Do we think he's selling out completely? He hasn't issued a 'below 3%' RNS...Just DMOR...GLA

[yorgi] 22/9/2015 09:34

In my view the downside risk here is now minimal with potential for considerable upside far outweighing it. £5m market cap is way to low.

[jbe81] 22/9/2015 09:21

Good results. should create some volume to shift some more of Bashirov's shares. Once they have gone this should fly. until then a very good opportunity for anybody wish cash.

[yorgi] 22/9/2015 09:15

I revisited last week and decided that if the BOD had turned this around then it is incredibly cheap. From what I have read it looks to me as if they clearly have so all this for £5m market cap ! I'm glad I bought in last week only wishing I had bought more and surely the POG can't remain at this level....... the way for gold and AAZ is up in my opinion.

[jbravo2] 22/9/2015 09:07

I like the pictures of the new plant. Very impressive. Add in the agitation leaching plant and the SART and it's quite an impressive operation now. Profit in 2015 will be at least 3 times mkt cap. 2016 will be many many multiples of current mkt cap but we'll have moved share price by then.


I like how much I own of it :D

[mattjos] 22/9/2015 08:45

Clearly, we are not yet out of the woods but, some very encouraging steps have been taken in H1 and there is plenty of evidence that costs are back under control & reducing. They are well within the debt covenants and the flotation plant benefits yet to be realised.CAPEX should now be at or just beyond its peak & so a continuation of similar / improving production at reduced costs should see the debt reduce in coming months.Terrific grades from Gadir being reported.I wonder exactly what they will produce from the original 12 small flotation tanks?? That could be the start of additional metal revenue streams.Valuation looks unduly stingy given the progress made.Any upward movement in gold price will now have a very big impact for the company

[bleepy] 22/9/2015 08:45

Excellent results,couldn't resist another dip in first thing.

[wigwammer] 22/9/2015 08:44

"First production of a concentrate for commercial sale is expected by end September 2015."They expect flotation to increase gold recovery from 75% to 90%, which at 70k ounces pa would add another 14k oz, and lower aisc further.Daft price here.

[jbravo2] 22/9/2015 08:09

Sleveen, that is all achieved without the benefit of the flotation plant and whilst paying for the flotation plant.
Fabulous results.

[wigwammer] 22/9/2015 08:08

$10.6m op cash flow, $15m+ post wc in half a year. And this is prior to the flotation plant coming online. Capex should fall significantly next year, freeing up highly significant free cash flow to pay off debt in 2h15 and 2016.These look like excellent results.

[mattjos] 22/9/2015 08:06

"There are also 12 smaller flotation cells of approximately 5 cubic metres each which were constructed as part of the initial project to build a pilot plant. These are available in future to produce zinc and other metals."Intriguing to say the least

[sleveen] 22/9/2015 08:01

add $250 for AISC gives around $1000/oz. Not much of a margin with gold at $1130/oz.

[celeritas] 22/9/2015 07:57

Still no all in costs.

[cordwainer] 22/9/2015 07:34

don't edit that adit just 'av at it and geddit

[ferries5] 22/9/2015 07:34

Headline looks good
Hopefully this will give the share price a boost.

[brasso3] 22/9/2015 07:32

No wonder Reza was prepared to give AAZ a $3m unsecured loan. He knew what was coming. With the floatation plant online costs should come in below $600/ oz.

[brasso3] 22/9/2015 07:29

This seems really high for Gadir:-

- Gadir adit at Gedabek has reached the ore body - 2,116 tonnes of ore at 9.45 grammes per tonne of gold has been mined in H1 2015

[brasso3] 22/9/2015 07:27

Reduced debt by $4.7m despite the ongoing capital expenditure. :)

Looks like that debt pile could be below $40m by year end.

5p (£5m mkt cap) looks silly now.

[brasso3] 22/9/2015 07:25

Great update and this was the bit we were hoping for:-

-- Average cash operating costs significantly reduced - produced gold (including the Government of Azerbaijan's share) at $736 per ounce, a decrease of approximately 27 per cent. compared to the comparative first half of $1,014 per ounce

[yorgi] 22/9/2015 07:11

It looks to me as if they turned things around that looks pretty good at a first glance :-)

[cordwainer] 22/9/2015 07:09

u took the words right outa my mind