Anglo Asian Mining Share Discussion Threads

[jbravo2] 17/1/2017 11:35

Isn't it all a bit strange this irrevocable conversion of options long before their due date?
Why has this has been announced like this?

[jbravo2] 17/1/2017 11:32

Zhockey was saying this would be sold this morning. That was reckless deramping :D

[terropol] 17/1/2017 11:26

ZHOCKEY, I have known you on this BB for about 9 years....
Taking your point on not having a guarantee on future production, but if we had that, the company would be valued at £100m plus.

WE have a big operation there and with full support of the government.

Our valuation is allowing for all disasters possible.
And if we find more and more gold!!! Copper going well and market demand remains strong....

This company is undervalued.

See what this quarter brings.

[deanroberthunt] 17/1/2017 11:24

full ask being paid now....

[jbe81] 17/1/2017 11:19

Because they will mine the gold at Ugur first, so there geologists will be working on that first. I think there will be a lot more gold in Bittibulag, but makes sense to mine the gold closest first. The only reason they are concentrating on Ugur is proximity to the plant, drilling results at Bittibulag should make you change the tone of your posts. If you are holding then.

[homebrewruss] 17/1/2017 11:15

@zhockey surely they are awaiting results from the sample analysis on Bittibulag. In the meantime they are getting on with Ugur and other exploration

[zhockey] 17/1/2017 11:10

Yeah but why would that stop you reporting on Bittibulag?

[jbe81] 17/1/2017 11:08

Because Ugur is closer to the plant zhockey!

[zhockey] 17/1/2017 11:06

Then why focus the announcements on Ugur?

[bleepy] 17/1/2017 10:40

Management performance demonstrates exceptional experience and expertise across all areas. Progressive and in an orderly fashion, what more could you wish for from the team.

As Mattjos pointed out the extensive exploration at the moment constitutes just a fraction of their huge acreage.


Gedabek - exploration update

Area adjacent to the current operational mine
Geological mapping was carried out over 0.7 square kilometres from which 290 outcrop samples were taken and 20 metres of follow-up trenching was carried out. In addition, two drill holes with a total of 530 metres of diamond drilling were completed.

Gadir underground mine
Efforts focused on underground mapping that comprised 596 linear metres backed up with 596 linear metres of channel sampling. Mineral resource delineation drilling continued with the aim of assessing the down dip and lateral extensions of the known ore bodies. In Q4 2016, four core drill holes (HQ size core) with a total of 365 metres had been completed. These drill holes were designed to confirm and extend mineralisation at Gadir. An additional 21 drill holes (BQ size core) with a total of 598 metres were drilled to define ore zone geometry.

Ugur discovery
Geological mapping was carried out over 0.6 square kilometres from which 220 outcrop samples were taken and 290 metres of follow-up trenching that was sampled every metre was carried out. In addition, 55 reverse circulation drill holes with a total of 1,842 metres and 12 drill holes with a total of 1,893 metres of diamond core drilling were completed. Encouraging results have been received from the newly discovered Ugur deposit which enhance the Company's understanding of the deposit and show that the oxide zone extends deeper than initially determined by previous drilling. Ugur is only three kilometres from the processing facilities at the main Gedabek site, highlighting the clear strategic value of developing this deposit.

The Bittibulag mineral occurrence
A surface mapping exercise was completed covering an area of 1.1 square kilometres that included taking 190 outcrop samples for analysis. Preparation and analysis of 648 samples is on-going from the soil geochemistry sampling programme conducted earlier in 2016. A total of 40 metres of trenches were excavated and mapped from which 54 samples were taken.

[zhockey] 17/1/2017 10:38

Matt,

What was that about Bittibulag? I had written that off as they have gone quiet and focused on Ugur.

[mattjos] 17/1/2017 10:25

well, whatever your stance zhockey (& am always happy to listen to well-argued bulls or bears) price of gold looks to be now making a strong upward break past $1,200 & Silver through $17.
Copper also has been strong of late.

Give it time and the market will soon cotton on to the resultant cash flow here .. all cash with which to explore further and faster.

eg. As I posted up here some time ago, the company know enough about Bittibulag for them to speak publicly about the reserve and the processing options during a recent conference.

[zhockey] 17/1/2017 10:19

Matt I'm a realist long. Just trying to add some balance as many here only see the positives.

Jbravo was guaranteeing a month back that this was going to have a big move, that was reckless ramping.

[mattjos] 17/1/2017 10:13

zhockey, I cannot work out if you remain a nervous long, have sold out and wish to get back in, are short the stock or, are simply someone who is programmed to only see the negatives about anything in life.

The company has achieved a huge amount in relatively short space of time and should be applauded for that.
The CEO remains the majority shareholder and also putting up a further $4m for the company. How do you think he feels at times?
Directors don't all have £000's sat around doing nothing so, it is pretty much standard behaviour to do as they have done today with regards options.

We're now on a much more stable platform with exceptional opportunities under our noses & a terrific team in the company. What more do you want in an investment?

[mattjos] 17/1/2017 10:05

reserves depletion is a common denominator for all miners zhockey.
Given the acreage and the data from the earlier Russian explorers, I believe that Reza and the BOD (& in particular Stephen Westhead) are, whilst mindful of the imperative, relatively relaxed about it at this stage.
The grades actually improved at Gadir as they became more familiar with it.

Ugur is on their doorstep .. lets see if the drill turns up a sulphide lens beneath the oxide cap. If that proves to be the case then, the potential would be hugely significant & bang next to existing plant

[zhockey] 17/1/2017 10:03

That's not a great sign of confidence is it, they are selling shares to cover the excercise costs.

[zhockey] 17/1/2017 09:51

Matt, you have to admit they are behind the curve though. As BSG says we need to be mindful of reserves depletion.

[crazycoops] 17/1/2017 09:48

Surely that's why exploration is so important!

[mattjos] 17/1/2017 09:48

zhockey ... the company does not have unlimited assets. The actions they have taken through H215 & all of 2016 have significantly reduced costs and created a very much more stable platform to drive the company growth on from here. They are over the peak of CAPEX for this stage and will now have cash to put into exploration .. exactly as they are now doing.

The key priorities were to master the ore processing methodology and reduce costs.
Second priority, with the enhanced resultant cash flow, was to get on top of the debt repayments.

From here they can now get cracking on opening up the huge untapped acreage ... exactly as they are now doing.

Glass is not always half empty!

[deanroberthunt] 17/1/2017 09:45

@zhockey

please someone not on filter send this to Mr Pessimist

please sell me your shares for 20p, i'll take them all....thanks in adavnce

[bsg] 17/1/2017 09:45

At this rate they'll run out of gold just as they've paid the debt off.

[jbe81] 17/1/2017 09:41

Gold and silver both up over 1% today, I expect AAZ to make a lot of cash this year as these prices rise.

[zhockey] 17/1/2017 09:40

My concern is that 2016 was down on 2015 and 2017 looks likely to be down on 2016. They have done a lot of good work on cost control but are behind the curve on exploration and production.