Anglo Asian Mining Share Discussion Threads

[ilostthelot] 28/11/2016 09:22

Not always a bad thing selling some on the way up at certain prices.. A few on here slag you for it. Great buying opportunity this is. AAZ exaggerates moves in both directions.

When sentiment changes we'll see 40p plus in next to no time.

[jeanesy] 25/11/2016 20:07

This all in all has been a dreadful week for the shareprice for aaz. We have fallen about 25% which is totally out of proportion with the fall in the POG and with other gold producers. We still have a hedge in place for some of our gold so our shareprice should be falling less than the others and not more, and thats not withstanding that we produce some copper and its price is still rising!! I have totally given up trying to fathom what is going to happen next. The market is totally irrational atmo. Unless we get some positive drilling news soon we might even test 15-19p as some have suggested - bonkers!!!! Where is that bottom line going to be ?

[sleveen] 25/11/2016 08:23

More on the Indian Au potential ban.

[2sporrans] 25/11/2016 08:12

Share your concern CNS but much more for my residual Orosur holding [AISC ~$250-300/oz higher than AAZ and less convincing cost or resources profile looking at 2-5 year view] than for my AAZ one - to which added a further slice yesterday.
Even at $1,000/oz POG, AAZ should be able to make enough profit to keep paying down the debt by a few $mn/pa, while keeping up CAPEX.
Looking forward the next few years, if indeed AAZ is heading towards a ~50/50 copper/gold producer; well that's a better solution to a moribund gold market than further gold price hedges.
Having said, shame the existing one doesn't extend beyond end 2016.

[2sporrans] 25/11/2016 04:36

Agree an Indian gold import ban would be disastrous for the POG.
But just a few months back, the talk was of a relaxation of the duties built up by the previous Gov't. In fact, weren't those trimmed back a bit?
Wishful thinking and in jest....but maybe a Gold Standard regime would help keep India's monetary issuance honest; not at the private level but at state-banks as corruption is universal.

[cast_no_shadow] 25/11/2016 00:51

Whether it's real or not, policy or merely rumour, it can't be helping the current gold price.

Without the 700 tons or so going in to India a year well be seeing sub $1,000 gold.

Let's hope it's a storm in a tea cup. Last thing we needed on top of everything else!

[mattjos] 25/11/2016 00:37

Don't believe Modi will be successful in that attempt. India tried it before in 1968 and that failed.
Given the current situation with regards the INR500 & 1000 notes, I imagine there are loads of rumours flying about as folk try to buck the system and find ways around the system.
Over the counter swap of old notes for new has now ended and only deposit into a bank account is accepted (with some exceptions). With just about everyone trying to find a way around the process and try to avoid declaring their cash by way of lodging into a bank account, switching to gold is one obvious work-around so, a government rumours that gold imports will be stopped looks another effort to try ensure folk 'go legal' ..... good luck! India so corrupt & its borders so porous that I don't see how they would enforce it for long.

Imagine this whole episode will merely persuade more of the rich in India to park their money into UK & AUS real estate & the average Indian to hold even more physical gold about their person in the form of jewellery.

[cast_no_shadow] 24/11/2016 23:16

Anyone seen the rumours of an Indian gold import ban? This would be extremely bad news!!!

Who could have have foreseen that?!!!

[mattjos] 24/11/2016 22:42

USDAZN set for 1.7196 tomorrow so, gold still circa 8% up YTD and Manat down over 10% YTD.

The latter is not going to entirely offset the former but, with the other cost-saving initiatives we know about, the AISC should maintain downward pressure next year.

[mattjos] 24/11/2016 22:31

Bit busy elsewhere today (MATD but, absolutely no advice intended) so, missed the giveaway price today but, well done to those that took advantage. Quite some intra-day turnaround in the price.

What will influence Gold next?

Italy Referendum on 4th December?

USA interest rate rise 14th December?

Copper still seems to be going gangbusters but, Silver not in any way following.

[cast_no_shadow] 24/11/2016 16:16

I doubt we'll see the kind of PE ratios that are discussed on here until our resource is significantly upgraded and sentiment returns to the industry.

This latest $150 smash in barely over a week isn't helping on that front.

USD/JPY now over 113. The Japanese Yen, one of the worlds most important currencies, has depreciated over 10% in little over a week vs the dollar. Astonishing.

This dollar strength and rising rates has to be causing chaos in the emerging markets with all their dollar denominated debt. It's a recipe for disaster!

[jbravo2] 24/11/2016 13:19

Welcome dean.

@zhockey - time will tell eh? :) As robo has said, a little patience is required.

[robo21] 24/11/2016 11:42

A lot of the smaller producers are taking a kicking.
The market often over reacts,as it has over the last
Few days,fundamentals will kick in at some stage.
A little patience is required.

[deanroberthunt] 24/11/2016 10:39

look at FRES, HOC, they're working off 25-30x earnings, some are even higher

[terropol] 24/11/2016 10:39

yes welcome to the Pound club... ;-)

[scottishfield] 24/11/2016 10:31

welcome deanroberthunt

[deanroberthunt] 24/11/2016 10:30

remove the debt and my target is 100p

[terropol] 24/11/2016 10:25

deanroberthunt, buy the end of next month I expect the debt to have come down by a good chunk...

[deanroberthunt] 24/11/2016 10:22

fy pbt ~ £5.5m, mcap £25m, 4.5x .....very cheap

ok so net debt is £32m, but that's only just over 1x valuation......so manageable.

[terropol] 24/11/2016 10:16

A few more here this morning.

[basem1] 24/11/2016 09:55

Why sell so cheap ??

[jeanesy] 24/11/2016 09:34

Volume looking quite high here. I suspect those 50k trades are sells which is why we have been marked down so much. Where are those buyers ?

[celeritas] 24/11/2016 09:15

Brasso, means nothing when sentiment takes hold.
Its certainly cheap mind.