Anglo Asian Mining Share Discussion Threads

[cyberbub] 26/11/2015 03:23

Yes cheers for all the posts and info Mattjos!

[bleepy] 26/11/2015 01:15

Mattjos

Complex to say the least but feedback very much appreciated as is invitation for queries/questions.

[mattjos] 25/11/2015 23:09

I don't have all the answers. I do try to maintain some contact with the CEO by email &, given that he is a very busy chap, I can advise that he is good at replying to emails & is very passionate about the company and its prospects.I do know that least one investor who reads this thread and occasionally contributes is going along to the presentation next week.Maybe those with questions, put them up here & the person concerned can take those along to the presentation. It's his/her decision as to whether or not they reveal themselves.I know the person concerned & can act as a conduit to post up the answers, if necessary.Any unanswered questions thereafter, I will put to Reza directly by email.Does that sound sensible to all concerned?

[mattjos] 25/11/2015 22:58

What must be a significant positive is the 'waste' from the Agitation plant, rather than simply flowing to the tailings dam, is now going through a secondary treatment process. It has already been crushed and is in a slurry format when it arrives at the flotation plant ... The two plants throughput have been broadly matched so the primary Agitation plant can continue to run at its intended throughput.As the company has advised, just like their SART plant, they are a 'world first' in what they are doing at Gedabek.We are extremely lucky to have Professor John Monhemius on the board .. He is very much the unrecognised brains behind much of what AAZ are doing &, if you search around, very, very highly regarded around the world.What should also be appreciated is that the company is gathering together a highly competent and knowledgeable team .. One that will be increasingly able to profitably mine more and more of the company assets as they are opened up.

[mattjos] 25/11/2015 22:49

It's likely hard to call & I doubt the company will even know at this stage.All they can do is run the process, collect the concentrate and ship it on.No doubt, once the buyer further refined the Copper (as per process in previous post) they will feedback to AAZ the net results of the process .. Clearly, it is & will be, a significant factor in AAZ determine the optimum running of the circuits. They will need to factor in energy & reactant costs & balance against the buyers Treatment & Refining charges.I would suggest, at this stage, we none of us know ... Company included.Like any new process, it will become the subject of management tweaking as the feedback loop matures.

[mattjos] 25/11/2015 22:39

Rambler ship steal copper concentrate (Ticker:RMM)

[on target] 25/11/2015 21:46

The last RNS gives a figure for 62 wet tonnes (48 dry tonnes) albeit 'before processing costs'. Using this figure, the initial weekly production (implies it will be increased) of 150 wet tonnes would yield $11M/annum.

[cyberbub] 25/11/2015 21:34

It would... I am probably sounding a bit thick above... I just haven't really owned mining shares before where the output was concentrate, they have mostly been goldies with their own processing plant... or potless explorers LOL...

[bleepy] 25/11/2015 21:07

Perhaps Mattjos is best placed to approach the company and have them clarify queries raised. It would be nice to have precise figures to apply to the floatation plant output as it ramps to design capacity.

[cyberbub] 25/11/2015 20:05

Sorry if I am getting confused - it's easily done with me! lol

[cyberbub] 25/11/2015 20:02

The reason I ask is that Mattjos said a couple of days ago that he thought the concentrate would realise a price 50% of spot copper, per ton. But he didn't provide any examples to show why.

[cyberbub] 25/11/2015 19:54

Ferries thanks for that.Take a look closely at the figures in the middle. 5kt p.a. of contained copper! So in fact it *is* not that far off the 20 tons per day we were bandying around a few days ago!I appreciate that selling a ton of copper in concentrate form is not at all like selling a ton of solid ingots. It has to be transported all the way to Switzerland and then refined... I suppose that it is only 19% pure (I assume that includes the gold and silver credits) so it will be inefficient to transport. Do we know how it is transported - is it by truck? I don't know whether there is a feasible rail route, but that would clearly be cheaper.Does anyone know of any comparators for copper miners currently producing concentrate similar to our contained percentage, and how much the refiners pay for it at their gate?

[ferries5] 25/11/2015 07:47

Company News
Anglo Asian Mining* (AAZ) 5.25p, Mkt cap £5.9m – First flotation concentrate shipment completed
• Following successful commissioning in Oct/15, flotation plant has produced 125 wet tonnes of copper concentrate through Nov/15.
• The Company shipped 62 wet tonnes of flotation concentrate to Industrial Minerals SA on 22 Nov/15.
• The remainder to be shipped this week.
• 62wmt (48dmt) shipped contained 8.9t copper, 27oz gold and 1,275oz silver implying 19% Cu grade in the product.
• Sales proceed to be received on 4 Dec/15.
• The plant is in a ramp up stage and is expected to run at 150t concentrate per week (7.8ktpa or 1.4kt Cu using 19% grade) until production is steadily increased towards the design capacity of 90tph (35ktpa or 5kt Cu on our estimates).
• Annual gold production guidance narrowed to 72-74koz in FY15 from 70-75koz forecast previously.
Conclusion: The take up of the flotation concentrate is a positive news given the fact that the share of copper contained in total revenues is set to increase moving forwards. We expect concentrate revenues to account for around a third of total sales proceeds in FY16-17 from <10% in FY14-15. We are looking forward to the progress of flotation plant processing rates ramp up which would be instrumental in improving cash generation of the business and reducing outstanding debt (net borrowings stood at US$51.0m as of Q3/15).
On a separate note, Oct production numbers released by the State Statistics Committee last week showed operations at Gedabek yielded 6.7koz gold during the month taking the total for Jan-Oct/15 to 60.8koz (72.9koz annualised). The news suggests operations remain on track to hit management guidance.
*SP Angel acts as Nomad & Broker to Anglo Asian Mining. share price Angel analysts have visited the Gedabek and Gosha mine sites

[zhockey] 24/11/2015 22:29

Last time I looked AAZ had 700K oz of Au reserves, I'm not quite sure how that equates to only two years production at 75K/year?

[mattjos] 24/11/2015 17:15

disagree .. Cantor are firm on the Offer and intent on squeezing this down as they have been for 2 years now

[jbe81] 24/11/2015 16:39

Would guess at various PIs selling than one seller.

[bleepy] 24/11/2015 14:06

New floatation plant a great success with ramp up to full throughput well under way.

Great rns plus excellent pr via trend articles.

Plenty of meat on the bone for the aaz presentation in London 1st wk Dec.

Plus exploration update due on Ordubad weather permitting with estimate at 200,000 Au.

Nov's figures will give us a better idea of the floatation's plant contribution as ramp up continues.

Onwards and upwards

[terropol] 24/11/2015 13:28

All miners off the investors menu` at the moment.
We are riding a good horse here...
We just have to wait for sentiment to change.

[mattjos] 24/11/2015 12:43

more data on which to model how things should go here next year but, the market ain't buying anything here as yet.
The $5m debt payment due by end of the year remains a near term obstacle but, is looking increasingly likely that they should be able to make it on time.
No idea what Reza was up to in yesterdays Trend news-piece though .. on the face of it, that seemed a pretty daft move right now.

Can't see much happening here now until the effect of the Fed raising interest rates in December is reflected in metal prices and scheduled news on financials comes out early next year, particularly as we still have a persistent & determined seller here in the form of Cantor, despite Basher's exit.

Absent news, check in during January I think

[chipperfrd] 24/11/2015 12:07

On Target,

CAE are the independent consultants who were tasked by AIMC to estimate the mineral reserves at Gedabek.

It used the data from 61,714m of drilling and 27,623 samples.

The report also provided a LoM schedule, which is what I based my own model on.

The report was based on data available on 1 Sep 2014 so changes such as the devaluation that occurred in 2015 are not taken into account. At that time the remaining ore reserve for the Gedabek open pit was 20.5Mt containing 682,000 oz Au, 102,000t Cu & 4,845,000 oz Ag.

Chip

[on target] 24/11/2015 11:42

Who are CAE? Would the estimates and actual figures given by AAZ in RNS's probably be more accurate?

[chipperfrd] 24/11/2015 11:31

I have now found the CAE report amongst the download data on my iMac.

I will have another check to see if I have made some fundamental error - or it could just be an underestimate by CAE of course. Mining is far from being an exact science!
Chip

[chipperfrd] 24/11/2015 10:55

I note there have been a couple of comments regarding my earlier post - re the level of gold production in 2016.

I agree, it does look too low given the current progress. I was just using the headline mine schedule data from the CAE report, ie. tonnes, grades & recoveries across all processing operations.

What is worse is that I cannot now locate the CAE report on the AAZ website. If anyone has a link I would be obliged as I do not seem to have kept a copy on my systems. I guess this is the problem with trying to monitor too many different companies on a rolling basis!

Regards to all
Chip