Anglo Asian Mining Share Discussion Threads

[mattjos] 08/6/2016 08:55

Not much in the way of volume congestion until the 20p region now.MM's are going to have to work hard if one or more has a background buyer.Mkt cap still dirt cheap but, importantly, now looking comfortably over the £10m threshold which may attract longer term institutional/fund interest.

[brasso3] 08/6/2016 08:49

Matt's charting does seem to be spot on here. :)

[zhockey] 08/6/2016 08:41

Good call Matt, clear sky up to 16p.

[brasso3] 08/6/2016 08:22

This is a safe as it comes on AIM.

Gold now above $1252.

[wrighty46] 08/6/2016 08:17

Looking very strong here. All available stock is now being mopped up and I'm convinced a buyer is in the background trying to buy sizable chunks. This isn't working so they will be buying ever higher. Sellers will come out at some point but not at these levels. And for me not until we are way way higher.GLA

[jbe81] 08/6/2016 08:14

Good to see it ticking up on such little volume

[brasso3] 08/6/2016 08:09

Gold creeping up to $1250.

[ferries5] 08/6/2016 08:05

Thanks jbravo.

It was Bill Morgans choice of words in the December video.

(We are not saying it will be a equity raising , Reza Vazira is talking to the Banks .)

[jbravo2] 08/6/2016 07:45

Please don't assume that ferries. The flotation expansion isn't due yet. Some parts will happen this year, eg SAG mill, water detox plant, elec substation but the main expansion is for next year really.
How that will be financed won't be announced months beforehand as many things will change before then, including our existing debt decreasing.

[ferries5] 08/6/2016 07:31

Thanks for the explanation regarding the resolution. In a December video interview Bill Morgan stated that they were trying to raise $10 million for flotation plant expansion and that Vazira was already talking to Banks, (since then Silence).So I am assuming that the Banks said no to further loans.

He has done an exceptional job so far in keeping dilution to a minimum

[mattjos] 07/6/2016 22:41

For any owner/manager of a business, the equity they own in the company is critical. Reza will look upon this enterprise as his 'baby' .. He has nurtured it, managed it & continues to aspire to greater things with it.For obvious reasons, he will not at all be willing to drop below 25% ownership.Dilution at this level, for even a pathetic sum, would take him below that critical 25% level.I would suggest investors do the maths on what price MIGHT he consider dilution to 25.1% or, more & still raise a meaningful sum, enabling the company to do something 'significant' by way of expansion.That is a damn sight higher than today's mkt cap

[jbravo2] 07/6/2016 22:35

Yes brasso I'll be going.

Yes ferries, mattjos is right. The issue of shares guff is always there, voted on and passed. It has never been used to date. Again, as matt says, ultimately Reza would be far more affected by any issuance of shares than anyone else. Not saying it can't happen but surely we've passed the point it was most likely.
The existing agreement/approval to do this from last years AGM is still in effect and approved til the new AGM. It hasn't happened this year.

[mattjos] 07/6/2016 22:30

Reza owns 29.1% of the company. He is unable to buy most stock himself else he will breach 30% & therefore be obliged to bid for the remainder.I don't know how much exactly his 30% 'cost' him historically but, when the company has needed money & was under the selling influence of Bashirov in the market generally, Reza has ponied up $4m of his own cash to ensure it not only survived but, also prospered.To me that signals a CEO extremely confident in the true value of the equity in his and our company and determined not to see it diluted at a stupid valuation ... Exactly the opposite of 99.9% of all other listed junior mining companies, who issue paper like confetti in the vague hope of finding a resource that might pay off.IPO'ing at near 10x the current price, I don't believe he or the board would countenance a distressed equity raise at anything like the current price and see himself so grossly diluted as a consequence.

[mattjos] 07/6/2016 22:01

Ferries .. Read the equivalent investor news items from 2015, 2014, 2013, 2012 .....It has been a special resolution on each occasion. It's the rules

[ferries5] 07/6/2016 21:00

Then why is it a special Resolution Mattjos. I do not remember it being mentioned in such detail before. Like I said I do not really understand it, But I am always wary of statements in lawyer talk. Expansion of the flotation plant is also mentioned. Though much prefer a rights issue to dilution.

Regards

[mattjos] 07/6/2016 20:42

Ferries .. It's a fairly standard clause.Has been there for the last 5+ AGM notices

[brasso3] 07/6/2016 18:16

Also the 14 day RSI just turned positive. Primed for a move up. A nice evening with gold would do the trick.

[mattjos] 07/6/2016 15:10

Breaking out of the 3 week flag today

[mattjos] 07/6/2016 14:18

in the absence of an RNS every day, I believe it should be safe to assume they are paying off the debt, as per the schedule & as per the last 6 months or so.
They had assumed a much lower gold price, than we are experiencing YTD, when they took out the loans and made the debt repayment schedule.

I also assume that Bill is doing the front-running to the markets at present whilst Reza works on opportunities for the group.

I will go to the AGM if can as I think it will be an excellent opportunity to get a feel for what's going on & ask some of these type of questions.
I'm sure the company would be greatly pleased to see as many investors there as possible

[brasso3] 07/6/2016 14:17

Its too predictable when the RNS will arrive. i.e Q1, Q2, Q3, Q4, Fully Year Reuslts...

[wrighty46] 07/6/2016 13:56

Brasso sorry.

[wrighty46] 07/6/2016 13:56

Brass I do like the fact we don't get an rns everytime they change a light bulb, but do agree trying to keep tabs and upto date with this company is nigh on impossible. A facts and figures would help especially on any debt repayments. GLA

[brasso3] 07/6/2016 13:41

Production news about 8 or 9 days away.

Really wish there was more communication via RNS.

[wrighty46] 07/6/2016 13:33

Well looking strong here now. Very few shares around as we know, perhaps a buy order in the background. If so IMO recent highs could be breached pretty soon. I have still been accumulating here last week and yesterday. And they won't be going anywhere for quite some time.GLA