Anglo Asian Mining Share Discussion Threads

[scottishfield] 04/11/2016 06:55

Jbravo, thank you v much indeed, suffice to say that you have whetted the appetite even more.

[timberwolf3] 04/11/2016 06:51

jbravo - thanks for sharing.

[thomas11] 04/11/2016 06:26

Jbravo - any more info on Ordubad, this was the big beast from the IPO document but news has been very vague to date ? Cheers

[philo124] 04/11/2016 06:25

Thanks a lot indeed to all for taking the trouble to share your thoughts and information.

[catsick] 03/11/2016 23:48

All sounds to be going well, No hint yet on how the deeper drilling at ungar has gone yet, all the holes indicated the resource went deeper but how deep, and is there sulphide below the oxide ...I think the next place they need to spend some money is a major drill program, 2-5m usd on a massive drill of the whole area will add much more to the market cap than another piece of kit to add another 5k oz to production , its great that stephen is on board and can target the search to prove how big the resource is, with the cheap manat and low wages And now nice cashflow I would go crazy drilling, and it all will just push out the time before the heavier psa kicks in ...

[jbravo2] 03/11/2016 23:46

Home now and can post a bit more detail from my chats and answer a few of the questions.

The exciting bit as already alluded to is the exploration ongoing, planned and consequent resource upgrades we can expect.

First up will be a re-working for Gedabek. This will take account of the depletion since the last and add in all the new drill data since 2014. We can expect this to arrive "in a few months". I pressed on this and whilst it was said it certainly wouldn't be ready in one month he laughed and said no way when I said "as long as six?". So take you pick in between there. Perhaps January? I pressed further on whether this may be therefore a decline in numbers due to depletion and he didn't seem to think so but conceded a number increase might not be enormous but that quite a bit of resource might move up a level of confidence.

Next year extensive work will be done on Gadir and Ugur.
Gadir will be drilled both from the surface and from underground. He will try to get some kind of resource from it but it is challenging as they dig up the underground results pretty quickly.
Ugur will be drilled to try to get that to a resource too. That may well incorporate both the main find 3km away and the nearer stuff. He will drill down to 300m as he needs to understand what is underneath the oxide. If it is promising he will extend to 400m. the 30m drill rig was all they had a that time.
Next year he wants two RC drilling rigs working as often as possible.

If Ugur is an easy resource to exploit it will be a relatively easy job at that distance to set up a cable drag type system (Ugur is up on the ridge, about 250m higher) to transport the stuff to Gedabek for processing. If that is done of course you've then covered half the distance to Bittibulag. Nice eh?
So as he explained he's considering costs as he explores. Not just what is most exciting but how can we move from one to another linking them economically.

I posed the question that of course this could all be one long run of resource (as zhockey bought up a while ago). He agreed it could be or it could be a long run of pockets of resource. Thats why he wants to know what's under the oxide stuff at Ugur, it will help to start fill the gaps and explain how things are or aren't linked. Is it continuous or formed from close but distinct ancient volcanic vents along this fissure?

Anyway, that's enough for tonight. Bed time. Will post more tomorrow.


Just to say, yes gutterhead I am most definitely still a buyer. Without doubt. It is not even a close call.

Didn't see FF or Terropol matt. Don't think they were there. Andrewsr was there, good to see you andrew and sorry we didn't get chance to chat.

[zhockey] 03/11/2016 22:59

Thanks JB and homebrew

Matt, SOLG have a ridiculous valuation. Exeter resources have a similar but much more advanced asset with circa 20M oz but a much lower mcap.

AAZ are valued as a producer and the upside is not factored in at all.

[mattjos] 03/11/2016 22:29

Good man jbravo.Too much of a stretch for me to get down today from Derbyshire. Did Terropol and/or FundFemale make it to the event?As I am sure you well know, am reasonably confident in calculating that a few PI's here now hold getting on for 10% of the issued shares.That leaves really very few shares available to any new institutional buying, hence why we are seeing some price appreciation now.Was quite a clue when I was bid for my holding by broker a few months ago.Anyway, am not wanting to start a 'how many have you got' posting frenzy. We all know the very significant upside potential for the company once the exploration really gets underway. We've got the Human Resources and the finances to do justice to it now

[gutterhead] 03/11/2016 22:09

Jbravo, thanks for info. Are you buying more?

[jeanesy] 03/11/2016 21:36

Thats great to hear.How soon are we likely to get some more exploration/resource news please? days.. weeks...or months ?

[homebrewruss] 03/11/2016 20:34

On way home from the event. Much of what was said was in the pdf presentation but there also seems to be a lot of exploration/resource calculation in progress. I'll add some more detail tomorrow but Stephen seems keen to update the market as new results are found, not just quarterly

[jbravo2] 03/11/2016 20:28

Great presentation from AAZ. Stephen was very impressive.
I'm very keen for the next few months now.

And whilst that was all good (and my brief chat to John prior to the presentation) I'd have paid good money for my chats afterwards talking to Bill, John and especially Stephen.

Fabulous fabulous fabulous.

Buy buy buy.
But if you're here you know all that.


Proactive will put up the presentation tomorrow but alas not my chats :D

[pixi] 03/11/2016 19:33

Democracy was undermined today.

[timberwolf3] 03/11/2016 19:32

I guess the market wants more numbers to crunch with AAZ, today was a good step in the right direction, but i imagine it will need the resource to be substantially increased before we see a valuation similar to Solg.

[mattjos] 03/11/2016 19:22

I really do not understand the gaping valuation anomaly between AAZ & SOLG.Solomon are years & hundreds of millions of $ away from production .. if they ever get there.Yet they continue to be valued at 10x the market cap of a profitable, productive AAZ ... both sit on similar Geology resources.The market seems to be getting totally carried away with SOLG at present but, only a shimmer of enthusiasm here still.Something rather closer to £100m mkt cap here would be much more reasonable

[timberwolf3] 03/11/2016 19:18

Late reported buy 140k at 32p.

[mattjos] 03/11/2016 19:10

US dollar rate to manat has almost reached AZN 1.66The CBA informs that on 4 November the official exchange rate was set at the level of AZN 1.6590 to the US dollar against AZN 1.6490 on 3 November, AZN 1.6403 on 9 September (the lowest cost of AZN in history) and AZN 1.5610 on 31 December 2015. The rate reached AZN 1.55 on 21 December (the day of introduction of floating manat rate), and AZN 1.05 on 21 February (the day of first devaluation). As a result, from the moment of refusal from manat pegging to the dollar and introduction of bi-currency basket (on 16 February 2015) when the exchange rate was at the level of AZN 0.7844 to the US dollar, the Azerbaijani manat lowered by 2.12 times.http://abc.az/eng/news/99889.html

[jbravo2] 03/11/2016 17:53

Presenting last tonight. Darn. May not stick around.

Re 5414:

They have been drilling Ugur and Gadir with a view to making a resource estimate. They don't yet have anywhere near enough data for Ugur and will drill further in the spring unless they manage to get a Russian crew in. They're used to working through the winter apparently :D
Gadir is being drilled all the time but they mine what they have drilled pretty quickly which is making getting an estimate out difficult. They hope to be able to get an estimate out next year as well though

[ferries5] 03/11/2016 17:19

DrDre

Thanks

[drdre] 03/11/2016 16:40

From a quick search, on the link below, it states financing charges are excluded costs from AISC:

hxxp://www.ey.com/Publication/vwLUAssets/EY_-_All-in_sustaining_costs_and_all-in_costs/$FILE/ey.com_gl_cost%20per%20ounce.pdf

"All financing charges (including capitalised interest)"

That would say to me interest charges would be excluded but worth asking the question perhaps.

[ferries5] 03/11/2016 16:18

Can anyone tell me if the AISC, include the service interest on there debt.

[zhockey] 03/11/2016 15:43

Ask them:

When will Ugur be fully defined?

What their gold and copper production will be in 5 years time?

[andrewsr] 03/11/2016 15:31

Perhaps in anticipation of a resource up-date. I think the last one was Dec 2014, so would be good to know the timescale of a further up-date to the reserves, if anyone is going to the presentation this evening.

[zhockey] 03/11/2016 15:09

I'm not sure the rise from 15 to 30 was due to the aisc news