Anglo Asian Mining Share Discussion Threads

[cordwainer] 08/6/2016 17:20

brasso, think u meant tailwind?

[philo124] 08/6/2016 17:09

Been away all day.Nice suprize. Thanks for all posts.

[cordwainer] 08/6/2016 16:43

Gold back in vogue for some measure of safety / hedging, with every other sector having valuations stretched more than ever in the face of risks including slowing growth, Brexit, Chinese debt, US elections etc. Recent survey shows only 38% of French in favour of EU.
I can see by the advfn sentiment indicator for this stock that more than one person wants my shares.

[brasso3] 08/6/2016 16:33

Hard to see what will stop this hitting 16p now. It has a lot of tail wind:-
- Pressure removed from the gold price in the short term.
- Production news in 7 - 8 days which are expected to be >6000oz.
- Chart looks very bullish i.e breakout, RSI and resistance at 16p.
- Action behind the scenes with Chovdar.
- H1 results in July.

[cordwainer] 08/6/2016 16:15

..lurking in the murk til I can buy a Merc after selling Merck.

[brasso3] 08/6/2016 16:12

2 x £10k trades gone through today and both were delayed publications.

Someone is happy buying around 12.5p.

[zhockey] 08/6/2016 12:50

Brasso I think that is priced in, more likely we'll see a drop IMO

[brasso3] 08/6/2016 12:48

Gold now at $1255.

When the Fed confirm no interest rate rise on the 15th I expect it will hit $1300.

[mattjos] 08/6/2016 12:18

thread is surprisingly quiet but, I see the page counter thingy I put on the thread header has clocked up to 80k now so, plenty lurking

[zhockey] 08/6/2016 09:59

I notice there are rumblings at Kumtor again, this came up in association with AAZ a few years back.

[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.