Anglo Asian Mining Share Discussion Threads

[mattjos] 15/3/2017 19:22

Thanks for clarifying brasso :-)Judging by gold reaction to FED this eve, I suspect today will mark the low in the AAZ price ... might have to buy some back if gold & silver keep heading higher.(Wish we had pintxo bars in Derbyshire!The Basques really know how to 'dress' a bar. Outside the uk, I think the Basques do pubs/bars better than most others.)

[brasso3] 15/3/2017 19:04

I am Derbyshire based (Burton) Matt but would not recommend employing me!

[mattjos] 15/3/2017 18:56

By the way .. am trying to recruit up to 10 new staff. Anyone help?Sales engineer, mech design engineer, marketing, service engineer.Derbyshire based

[crazycoops] 15/3/2017 18:55

Thanks for the clarification Matt and good luck with your biz.

[mattjos] 15/3/2017 18:39

Guys, I know nothing more than anyone else - promise.I am still holding a significant quantity ... a lot more than many here I suspect.My business is taking pretty much every waking minute I have at present. We're busier than at any time before here in U.K. & factory in USA & I am clocking up the airmiles. Am in San Sebastián this eve.I don't have the free time to keep tabs as much on this as I would wish so, lightening up a little was sensible for me until I can get greater clarity. Ok?

[zhockey] 15/3/2017 17:35

Matt, you were posting bullish views up until a few days ago. I find it hard to believe you've done a 180 based on overnight reflection. Have you heard something that has changed your view?

[ferries5] 15/3/2017 16:52

Mattjos

A Good and honest post, a fairly rare occurrence on these boards.

[cannonfodd3r] 15/3/2017 16:36

Well i sold and bought back as i could see the fall coming, however feel we are close to news on Ugar and excited about what it hold! I think no news is good news here as the new geologist wont put his name to it until he is certain he has JORC compliant results.

Honestly speaking its worked a treat for me as time was ticking to buy back in and matt did me a great favour so cheers for that.

All going to plan, Ugar could easily provide same production figures as the current pit, therefore allowing them some time to figure out the mineralogy and what is going on with the grades. Something is a miss there clearly however i have a hunch that Ugar is going to be very good news

[zhockey] 15/3/2017 16:30

Well over time you realise who the good eggs are, Terropol is a gent and Jbravo whilst prone to the occasional bout of ostentatious bullish ramping exuberance, is at least committed to his cause.

[cannonfodd3r] 15/3/2017 16:03

For all we know matt could have just bought over 400,000 of the babies since his post! Why would you declare you are selling if still in the process, that is not matt at all! There's no friends in this game.

[catsick] 15/3/2017 15:06

I must say I am actually quite staggered to see matt throwing in the towel, I have been doing as I promised and buying below 20p but I must admit reading matts post really made me feel like a family member had some mental health issues and needed some support, I dont see how you can go from being a 100pct bull reading every chart to show the only way is up to being a manic depressive, The reality is that results will take time and we dont know how things will pan out but the price is now right ......

[crazycoops] 15/3/2017 15:01

And I defended your bearish stance at the time zhockey on the basis that I appreciate the critical evaluation of companies I am invested in.

It would be interesting to know though Matt, if your research has uncovered something that has led you to this recent conclusion. Are you just frustrated at the pace AAZ are moving at, do you think that Azergold have tied up all the potential or have you uncovered something else?

[zhockey] 15/3/2017 14:14

The funny thing is that I had pointed out all the reasons Matt list about four months back and he criticised my view at the time.

Oh well you pays yet money...

[crazycoops] 15/3/2017 14:07

I'm sure Matt said he had reduced rather than sold out. I for one appreciate his openness as it is good to know someone's position when regarding their comments.

[csmwssk12hu] 15/3/2017 13:34

Looks like the trader chimps have finally eaten all they have been fed, said a while back on other thread when these cross 20 they will retest 10, all imho dyor good luck if your still in your going to need it well and truly ramped, oh for when this gets removed I will post on other thread as well gla

[csmwssk12hu] 15/3/2017 13:33

Looks like the trader chimps have finally eaten all they have been fed, said a while back on other thread when these cross 20 they will retest 10, all imho dyor good luck if your still in your going to need it well and truly ramped, oh for when this gets removed I will post on other thread as well gla

[zhockey] 15/3/2017 12:42

Matt,

It is bad form to ramp a company for two years, then sell out and publicly rubbish them.

Sell up and shut up is a better approach.

[bsg] 15/3/2017 12:36

My worries are mine life, all well and good paying off the debt but if there's nothing to mine after that?

[jbravo2] 15/3/2017 12:25

Who'd have thought it? Mattjos heads for the door at a lower price than jeanesy? ;)
Anyway, on a serious note, thanks for your inputs mattjos. Appreciated.


However, I'm with jbe.
Vastly undervalued even at say a reduced 60koz this year.
Debt will halve this year.

And then there's AzerGold. Surely the synergies are too good to ignore?

[jbe81] 15/3/2017 08:15

Looks like they might get their 800k @19.5

[2sporrans] 15/3/2017 00:15

Mattjos

I can appreciate why you no longer wish to be heavily weighed into AAZ, though surprised at what seems a quite sudden turnaround in perception.
You were adding on the last dip; so what has changed?
You make references to the effect the key exploration assets [Bittibulag and Ugur] are Duds [at POG < X?] and AAZ has 'advertised' this to potential interested parties.
Has something come to your attention recently to precipitate at most a fermenting concern into [near] conviction of such duplicity?

I've always been more sceptical than most here, hence selling off over the 26-34p range and down to a very modest residual holding at the 2016 peak; buying back some at 20p or a few p above.
Yet, maybe my expectations are now no less than yours; conceivably they even exceed them.

For me, the decision to invest heavily in new plant on ~£50-mn debt was a high risk one that almost immediately turned sour when the POG bull market died as the plant neared completion. [I stayed away for a few years bar a token residual holding].
Yet, AAZ has turned the situation around and paying the debt down steadily while continuing with further substantial and productive investments.
Would management pursue a high risk, high investment strategy unless they had/have sound reason to believe there will be a very substantial, commercially rewarding resource pipeline they will reveal? [Be it gold or copper]
Reza has even loaned £4-mn of the debt and the temptation to dilute has been resisted, though accepted R does hold a lot of the equity.

Are you saying this has all been a reckless, albeit carefully crafted and tended gamble?
Is the mirage of a crock at the end of a rainbow being contrived to keep investors, politicos, potential lenders.....sweet while reality is little more than survival?
I don't think you believe that btw; just that if you strip away Bitibulag, Ugur and Gedabek expansion, it's pretty much what remains.

TS

[mattjos] 14/3/2017 22:35

Terropol .. still have a good holding with now, a near free carry so, am rather more relaxed.Will switch what are not already in ISA, into SIPP and probably forget about them for a year or so.The company is well managed, day to day & doing most of the right things. It should survive & may prosper. have simply concluded that Reza & the strategic side of the BOD have not got the touch I once believed they had. The opportunity has passed them by.Tactically they look sound enough & Bill will help grind the costs ever lower to suit. He's a good un.Please don't misunderstand, I'll be delighted to have my doubts proven wrong later this year but, will sleep more soundly between now and when/if that's the case in the future.They must come clean with investors else, I will really be gunning for them at the AGM.