Anglo Asian Mining Share Discussion Threads

[cannonfodd3r] 18/4/2017 08:15

In addition to what others have said I'd add that it seems a very sensible approach. The "pit" is clearly getting deeper, more overburden to move so more expensive. Drill it to figure out what is there then use gedir equipment to go under it!

They could continue blindly into the pit or do something about it! They have chosen to do something about it so great forward thinking.

Expect a resource update on Ugur any time.

[2sporrans] 18/4/2017 08:10

Makes sense to migrate to Ugur while production runs off stockpiles; minimises loss of output while plant off-line.
Maybe it's hard to keep extraction going in the underground pit while they make an in-depth exploration of what is still there to mine?
Implicitly, they expect this to be of a relatively hight copper:gold mix; something we have been advised was forthcoming anyway.
Don't think this update implies running out of gold; lower grades but compensated by more copper/silver, as current production supports.

[edjge2] 18/4/2017 08:01

Can breathe a bit easier as long as they hit their targets. Market reaction dictates but not disastrous. Maybe should invest in more digging/moving machinery.

[jbe81] 18/4/2017 07:59

ilostthelot, on the contrary, they are just getting started

[jbravo2] 18/4/2017 07:59

lol
They've been "running out of gold" from the moment they started mining.
It has yet to be established WHEN they will run out of gold.
But yes, they will run out of gold. A bit like every other mine on the planet.


As catsick says, the debt reduction on this low level of production is great.
The debt the next few cycles could be interesting.
Mining costs stop, electricity plant working, hopefully lower cyanide and ammonia consumption, but new costs for opening Ugur up.

[bleepy] 18/4/2017 07:58

AAZ at the top of their game as always.

Their strategic review of operations, processing, exploration, production has been extensive and not left a stone unturned.

Gold, silver and copper production now being stated in gold equivalent makes gives a clear picture of total production.

On top of their game as always with a tight reign on cost control. The new production sequence using less cyanide, 1.1mts of stockpiled ore to feed ongoing processing. Water treatment plant upgrade.

The extensive ongoing exploration aimed at a long life of mine has been given priority whilst processing from their huge ore stockpiles.

The end of year target is excellent considering their adaptive approach to optimise maximum value from the gold, silver and copper content of the their present ore stockpile.

Still reducing their debt whilst further cutting production/processing costs alongside a healthier gold price bodes well for the future.

Their forward planning for creating a new open pit, extensive expansion of Gadir, pinpoint focus on exploration alongside a healthy production target from stockpiled ore is impressive.

An excellent update overall.

[jbe81] 18/4/2017 07:58

250k wanted @ 20p in the auction, doesnt look like there will be a big sell off

[ilostthelot] 18/4/2017 07:53

They're running out of gold :(

[andrewsr] 18/4/2017 07:35

9000oz from Ugur in Q4, so 40000+/year from Ugur in 2018? Could do with a resource update.

[catsick] 18/4/2017 07:35

I guess there is good and bad, there will be a period of lower production, which we are already in the middle of, but its not going to cost anything as even in the worst quarter of the year with the lowest production for a long time 2m usd of debt was paid down, opening up the new pit is going to be very interesting and seems to be doable with little or no capex as the ore is all at the surface and the diggers are all from the main pit, seems if they have a lot of better grade ore over there its a no brainer to move the equipment even if it leads to a quarter or 2 of reduced production while they use stockpiled ore, all in all seems there is a lot of operational leverage now they have all the plant they need and can quickly open new areas up with little capex

[jeanesy] 18/4/2017 07:28

Mining suspended at Gedabek because of continued low grades of gold. Debt has come down only a little bit. Production figures of gold much reduced as a result but copper production on the up. The market will not know what to make of this imo and neither do I although if it follows form then it does not like uncertainty and that is how it reads to me.

[jbravo2] 18/4/2017 07:23

Net debt reduced even with the production of Q1. I'd say that shows what is going to happen as the production improves.
Lots to digest.
The move to poly metal continues.

[brasso3] 18/4/2017 07:18

Not the best update but glad it is out of the way.

Lowest gold production since Q1 2014.

2017 target 52,000 - 58,000oz gold.

Net debt reduced.

[mattjos] 17/4/2017 11:05

Weather seems finally to have turned. Nearest weather station to Gedabek reporting sunny & 19oC today and similar yesterday. Overnight temperatures are staying above freezing also.The company has suggested that they made some process changes going into the start of this year. Now is the first time they will be able to fully assess the effectiveness of those changes, without the impact of cold weather masking the performance.Whilst we know the first quarter will not be great, it's management commentary on plant performance now that will interest me most after, of course, updates on exploration.French election looks much too close to call with only 1 week to the first round. Plenty to support gold at $1,300+ I would suggest

[mattjos] 17/4/2017 10:16

Getting very close now to a significant breakout for gold:http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/04/15/20170415_gold.jpg

[edjge2] 17/4/2017 09:20

Tomorrow the rns day. Plenty to support gold. Touched 1294 and back for a breather.

[brasso3] 17/4/2017 06:48

I will be glad to get these Q1 results out of the way. Very unnecessary how the company has let this drag on. They should have put it to bed at the end of February with a good explanation.

[ilostthelot] 16/4/2017 23:57

Any snippet of good news and this will be back over 30p in no time. Gold is flying and looks like going higher with so much political uncertainty.

[jeanesy] 15/4/2017 09:08

News on tuesday ?

[k mon] 14/4/2017 11:49

Read during the week, that Nomura (the Japanese Bank) - put out a guidance to the effect
- that if Le Pen & Melenchon were the main contenders.

They would openly Short (I read that to be Naked short - Un Hedged)
- French Bonds.

- as both candidates want a Frexit - referendum

(Hence the possible break up of the Euro as an underlying risk ...

...... Bizarre Scenarios indeed..

[mattjos] 14/4/2017 11:48

Good article this:https://www.sharpspixley.com/articles/ross-norman-gold-poised-$1291-is-a-game-changer_266311.htmlThe author does not seem to hilite all the possible black swan events that could see this 1291 level get taken out shortly.The last point about USA gold reserves in relation to USA debt levels is a good one:"The total US gold reserves are about 8045 tonnes - if you denominated the current debt in gold then the US owes 450,000 tonnes - about 3 times all the gold produced in history."... or approx a 50 fold increase in price of gold!

[jbe81] 13/4/2017 13:54

280k wanted in the auction @19p. Somebody is confident.

[2sporrans] 13/4/2017 13:42

Dunno how much of the flying PIG, sorry POG, is down to Jitters over an anti Euro [even EUU] candidate being elected French President but consider this:

A bizarre scenario may well unfurl in that although a decided majority of French voters would prefer a moderate to an extremist of any sort, a close split vote between Macron and Fillon in the first round may be accompanied by the fast rising Melenchon vote being boosted to second or even poll position by a 'transfer' from that for the no hoper Socialist [far left wing] candidate Hamon. Refer to the latest Poll result below; Melenchon [18%] and Hamon together tote 26.4%. Macron bagged 23% but is waning somewhat while Fillon is reviving a little but at 19.1% still clearly behind Macron.

So, to the extent moderate French voters are aware of the danger of Hamon voters switching to Melanchon [logical], what will be their response? On the face of it, some who 'prefer' Fillon ought to back Macron as the best placed of the 2 moderate candidates, albeit a 'least bad' rather than second best choice in their eyes.

But how alert to the danger are they and to what extent apathetic or simply soured off?

12 Apr 2017

LePen: 23.8%

Macron: 23%

Fillon: 19.1%

Melenchon: 17.9%

Hamon: 8.5%