Anglo Asian Mining Share Discussion Threads

[zhockey] 19/9/2016 21:54

I have said many times before that this stock won't find it's value until the market gets confidence in the reserves pipieline, either through exploration or asset expansion. Why people spend everyday postulating minor movements is beyond me, this company will either prove up a 10 year plus mine plan and go to £1+, or pay off its debts and produce enough copper and gold to be worth about 20p. Or they could hit the jackpot and discover 10m ounces and go to £10.

[jeanesy] 19/9/2016 18:20

I take your point jbravo but the price here is baffling imo. The newsflow we have had recently and the news we are promised re exploration etc means that the company is in a far better position than it was after the poor July production figures. The price then was about 20p and yet we are now at 15p. I really dont think that we were overpriced at 20p so to be at 15p after all the positive newsflow is baffling to me . Still if you have some spare cash and POG holds above 1300 then it is a great buying opportunity. I thought that the recent statement would have made mr market take notice .I will hold and wait for truer vale to be realised here and if I can I will buy some more on further weakness if funds allow.

[jbravo2] 19/9/2016 18:06

Agreed August looks good.
Presumably the SAG mill has been the bottleneck til now. Simply as you'd think theyd address that area first.
We know the AL plant was originally labelled as 100t/hr and it's never achieved close to that. Of course we have to allow some downtime for maintenance etc but I'd be surprised if it can't step it up from where it currently is.
As for the flotation plant, ive never seen a capacity figure mentioned. It is interesting to note it didn't quite treat all of the tailings from the AL plant last quarter so perhaps it does have a slightly lower capacity, but of course we should also bear in mind it is newer and so less likely to be as "tuned" in operation logistics as the AL plant. Perhaps more to come here as well then?

The share price isn't that baffling. Some people want more evidence of success than the company has currently provided. We've only seen a few quarters of solid production. No doubt some more will buy in after this quarters results and financials, then some more will still wait til end of year results. Some more still for audited results, some more still til we have no debt etc etc.

However yes I thought the share price would be higher than it is now, or indeed than its recent highs of c.20p, as I thought more people's appetite for risk would be larger than it currently appears, but then I never thought it would go to 3.8p.
But I won't be churlish, I'll take a quadruple this year and then the same next! :)

[bleepy] 19/9/2016 17:30

Wimbled19 Sep '16 - 08:24 - 4367 of 4372

Thanks for highlighting the under report.az @ 7.5%.

The flotation contribution making up the 7.5% shortfall.

Nice to have a rounded average to apply to their monthly report.

6173ozs for August is excellent considering the delay build with 2nd sag mill and additional development work at Gadir lasted toward end of August.

Roll on Sept figures.

[jeanesy] 19/9/2016 17:29

The shareprice performance here is totally baffling to be honest !

[mattjos] 19/9/2016 09:31

Seems it will only be a big move in gold or some unexpectedly good news that will attract necessary buying.Imagine they will get something out about exploration shortly but, in meantime looks set to try and keep boring investors out of the stock beforehand.SP Angel coverage rather disappointing at present

[celeritas] 19/9/2016 09:27

Its an mm stock. They may have a buyer at 15p so will do their best to fill it.
Its hard to believe much what you see these days, I've had stocks that look like there's a big seller only for it to shoot up.
Gold over 1300 is a huge bonus, exploration, licences to look at, most of the buyers wont even come until it makes a run say past 30 or 40p.

[csmwssk12hu] 19/9/2016 09:19

Gold price up, production slightly ahead of target for last month share price down, don't understand market sometimes (maybe all the time lol)

[cyberbub] 19/9/2016 09:17

Why do you think it will take a few years pixi? If the company continues to consistently pay down debt and churn out $16M cash flow per half year, I would have thought Mr Market would look forward and assign that sort of value by next year? Especially if gold holds steady or rises further.Just my view anyway.

[pixi] 19/9/2016 08:50

scottishfield, good to see you here too. I reckon AAZ has got a lot of potential considering the current low share price of 15p and reference the diagram in the heading of the cup and handle chart. It should be good for 80p minimum in a few years time.

[wimbled] 19/9/2016 08:24

See news article from July

hxxp://report.az/maliyye/azerbaycanda-qizil-hasilati-azalib1/

Gives production for the first six month (jan to June) 973.8 kg (31,311 troy oz)

AAZ half year report (Jan to June) reported 33,837 troy oz.

Therefore report.az reports 92.5% of actual production for AAZ.

Production for July was 142 kg.

Production for the first eight months (Jan to August) post 4631 was 1264kg

Makes August production (1293.4 kg - July 142 kg - 1st six months 973.8 = 177.6 kg

Given report.az under reports by 7.5% for reason discuss in other postings.

The calculated August figure is 192 kg or 6,173 troy oz.

DYOR

[mattjos] 19/9/2016 08:08

Just listened to the Directors Talk interview ..... Future exploration update sound like it is going to rather exciting

[jeanesy] 17/9/2016 14:32

I make that 5700 oz dore which is certainly a step in the right direction as it is much better than July ! Hopefully the only way will be up from here as production goes. The sag mill was not up and running until the end of the month so September's figure should be even better ! The figure was also affected by the development work at Gadir. Onwards and upwards here. I await some news on drilling soon which should give us a further boost.

[mattjos] 17/9/2016 14:15

Pyazbashi:"...special emphasis must be laid on the Pyazbashi deposit. Prospecting proved the commercial value of vein #1, whose reserves are calculated. Vast number of auriferous quartz veins (more than 70) within the ore field, as well as numerous veins, revealed by prospecting operations, dictate the necessity to estimate their depths."https://books.google.co.uk/books?id=cLcqBgAAQBAJ&pg=PT138&lpg=PT138&dq=pyazbashi+deposit&source=bl&ots=svQRl5aQUs&sig=9sUhCkAoBy9SJJM4BqdEE3ic1R4&hl=en&sa=X&ved=0ahUKEwjE7bfku5bPAhUIL48KHRxtDIEQ6AEIGzAA#v=onepage&q=pyazbashi%20deposit&f=false

[bleepy] 17/9/2016 13:48

Anglo Asian has recently strengthened its geological department which is now starting to have a much greater focus on increasing our resources and reserves, primarily at our Gedabek site. The work carried out so far in 2016 is also described below.

Exploration and development

In 2016 to date, various activities were carried out within the greater Gedabek area with the aim of delineating further resources and reserves to increase the life of mine.

a. Surface brownfield exploration

This focused on areas adjacent to the current operating mine and along strike where mineralisation is exposed at the surface. Geological mapping was carried out over 1.4 square kilometres from which 401 outcrop samples were taken and 214 metres of follow-up trenching was carried out.

In addition, eight drill holes with a total of 2,172 metres of diamond drilling were completed.

Additional field mapping is planned along strike to define future exploration targets in H2 2016.

Wider exploration activity continued over the 300 square kilometre Gedabek contract area with positive results from surface mapping and sampling, which has targeted other areas for follow-up work.

b. Gadir underground mine

Exploration works continued at the Gadir underground mine. Efforts focused on underground mapping that comprised 1,494 linear metres backed up with 3,764 linear metres of channel sampling.

With underground development having reached significant ore zones, an exploration drift was constructed to allow drilling to take place.

Mineral resource delineation drilling continued with the aim of assessing the down dip and lateral extensions of the known ore bodies. A significant new copper rich zone was discovered, which will be subject to evaluation drilling during H2 2016.

In H1 2016, 4 core drill holes (HQ size core) with a total of 441 metres had been completed. These drill holes were designed to confirm and extend mineralisation at Gadir. This drilling yielded positive results with the more significant intercepts being 3.5 metres at 5.1 grammes per tonne of gold; 8 metres at 2.6 grammes per tonne of gold; 4 metres at 4.7 grammes per tonne of gold and 3.4 metres at 4.6 grammes per tonne of gold, with narrower zones up to 14.5 grammes per tonne of gold over 1 metre.

An additional 60 drill holes (BQ size core) with a total of 1,435 metres were drilled to define ore zone geometry.

c. Bittibulag mineral occurrence

The Bittibulag mineral occurrence is approximately 6 kilometres north-west from the Gedabek open pit. A surface mapping exercise was completed over the Bittibulag area covering an area of 0.8 square kilometres that included taking 320 outcrop samples for analysis. This was followed up by a soil geochemical sampling programme over an area of 2.8 square kilometres from which 648 samples were taken and which are currently being prepared for assaying. A total of 56 metres of trenches were excavated and mapped from which 60 samples were taken. On the basis of the positive results it is planned to carry out historical adit rehabilitation, diamond drilling and metallurgical test work drilling in H2 2016.

Exploration work also continued at the Ordubad contract licence area in the Nakhichevan region of Azerbaijan. During H1 2016, 42 linear metres of trenching was completed. Access was gained by 2,000 metres of road cleaning to reach exploration adits at the Pyazbashi deposit which were developed during the Soviet era.

360 metres of underground rehabilitation was completed, plus portal support infrastructure that allowed 583 metres of channel sampling from which 740 samples were taken that confirmed the presence of gold mineralisation in the quartz-kaolin vein system.

[mattjos] 17/9/2016 12:43

SAG mill did not get fully online until end August & the work at Gadir also in August.Taking that into consideration would suggest the statement in the Interims that they are now on top of things, is quite correct.Should be able to take another $7-10m off the debt during this half.Am struggling to understand why this should not move into the next 20-25p trading range in coming weeks, whilst we await exploration updates from Bittibulag and elsewhere.

[ferries5] 17/9/2016 11:47

Here is a translation, As for its accuracy!!!. Maybe best to wait for the company report in October.

___________________________________________________________________________

Last month, the country's stocks of finished goods increased by 21,4 kg
Baku. 16 September. REPORT.AZ/ for the period from January to August of this year 1 293,4 kg of gold was produced.

"Report," the State Statistics Committee (SSC), according to the mean decrease of 14.4% compared to the same period last year. September 1 this year, has stockpiled 39.2 kg of finished product. August 1 this year, while stocks of finished products was 17.8 kg.

According to the State Statistics Committee, in the process, silver production increased by 4,0 times and amounted to 252.9 kg. September 1 this year, stocks of finished goods 16.9 kg and 15.0 kg on August 1.

Overall, 2015 to September 1, 73.1 kg of gold reserves in the finished product, made of silver and 5.2 kg.

Earlier, gold and silver, which was signed on August 21, 1997, PSA (PSA) type is produced under a contract. Contract 6 field - Nakhchivan 1, Gadabay 2, which is currently under Armenian occupation of Kalbajar and Zangilan 3 provides for the development of the field. Under the agreement, Azerbaijan's share is 51%, the British "Anglo-Asian Mining Plc." 49% of the share. First gold production ( "leaked" field) was launched in 2009

[jeanesy] 17/9/2016 10:18

Has anyone seen the August production figures ? I have read on another BB that the quoted figure was around 6200 oz which is much more like it and would see us back on track ?

[jeanesy] 16/9/2016 19:50

I dont know about gold going to 1400 looks to me that short term we could be heading sub 1300. It has not been a good week for POG !!

[philo124] 16/9/2016 17:19

Gold is a $ denominated asset, logically it should go up with a US rate rise.

[celeritas] 16/9/2016 17:13

Fed Rate Rise? Gold Price Goes Up Says History

Friday, 9/16/2016 14:03
Gold prices rose more often on Fed interest-rate hikes than on cuts last 30 years...

[celeritas] 16/9/2016 16:48

Just wait for the news, resource update, azergold recent procurement's and other positive news to come.
Like I've said in all the years I've been looking at aaz its never looked better regarding mine operations and news to come.

[hedgehog33] 16/9/2016 15:44

Please correct me if I'm wrong, though according to LSE figures, back in 2014 their NAV was .44p ($0.58)... let alone what it is today after all the investment.

Therefore a TP of .21p seems cheap to me that being the case.

[zhockey] 16/9/2016 15:26

They dropped the target price?

[cyberbub] 16/9/2016 14:50

21p??? Crazy surely? Unless they mean very short term.