Anglo Asian Mining Share Discussion Threads

[mattjos] 25/4/2017 20:46

Well, let's please keep up the debate. All, healthy stuff.I still hold, for the avoidance of doubt. Switched 55k parcel into ISA on the fall at 15.5p.Those were purchased at ave. 5.84pWill switch over more if we see further weakness as helps shift greater volume into ISA that way.Meantime, have a shedload of overseas travelling coming up so, may not be such a regular contributor until first week June when back in uk, other than when stuck in airports / trade shows.

[jeanesy] 25/4/2017 20:41

The logic is that i see POG falling as the recent strength has been driven by fear imo. That appears to be abating and therefore I see no reason for there to see arising POG. I have been reading for years that gold will rise to this and rise to that but so far the figures have been pie in the sky and gold has barely risen at all despite brexit, despite trump !

[el_duderino_7885] 25/4/2017 20:25

Where do you get $1,100 from Jeanesy? What's the logic? Bear in mind that gold is priced mainly by the dollar yen so i assume you expect the dollar to rip higher for the rest of the year?

The dollar index is now under 99! If you look at the long term chart for the dollar it's behaving almost perfectly since it failed to extend higher when it broke 100.

You really can't underestimate how important this was. No one here seems to appreciate the significance of the breakdown in the dollar in the long term chart.

The dollar should lose at least 20% now over the next few years. there is simply no way gold is going down to $1,100 in these circumstances.

Well see $1,400 this year.

[jeanesy] 25/4/2017 20:17

I didn't say it was a reason to sell. What i have said is that the recent strength in the POG was the only positive here with the falling production, temporary closure of mine, manat falling form 1.9 to 1.7, uncertainty in future, lack of drilling news. What i have said above is now the POG is falling as well. Some good news is needed otherwise this might drift further !

[brasso3] 25/4/2017 19:41

Jeanesy

While I agree with some of the criticism/ skepticism regarding AAZ, I hardly think the gold price can be a reason to sell. One month ago gold was at $1200 and now it is $1263.

[jeanesy] 25/4/2017 19:29

In the mean time gold falls some more. Id say that 1100 is far more likely than 1400. It seems that anyone who says anything negative here gets the same treatment Zhockey !

[ferries5] 25/4/2017 19:24

jbe81
mattjos
Cheers

[jbe81] 25/4/2017 19:04

My point was that zhockey called out Matt for "ramping the stock and then selling", then did the same himself. Everybody is entitled to their opinion and also entitled to change there mind. From his posts maybe he still holds and is just trying to create debate.

[goodgrief] 25/4/2017 18:36

Do we have a date for the 2017 AGM? Their financial calendar says it falls in June.

[mattjos] 25/4/2017 17:54

not bullying ferries ... just that zhockey is making observations that are not in line with the facts we have been told.

Anyway, if I can make it to the AGM from Derby, I'm pretty sure that a good many others can get there if they put their mind to it.

[zhockey] 25/4/2017 17:00

Going back to my reason for selling, I suspect the market is going to be sceptical of the company's plans, regardless of how effective we think they are. That the share price has tanked is not subjective.

[bleepy] 25/4/2017 16:36

Ore mined from the open pit has recently had a lower gold grade and a higher percentage of copper than ore previously mined. It was therefore decided to carry out an extensive programme of exploration and production optimisation to better understand the distribution of copper in the ore body and to define the resource and reserve. Mining will therefore be temporarily stopped in the open pit in Q2 2017, and during the remainder of 2017 approximately 15,000 metres of drilling will be carried out, in furtherance of this programme. It is anticipated that mining from the open pit will recommence in Q1 2018.



Mining of ore from the Gadir underground mine was suspended in February 2017. Extensive underground exploration is being carried out and development tunneling undertaken. It is expected that mining of underground ore will recommence in Q4 2017. Any ore mined from Gadir during this exploration and development phase will be stockpiled for later processing.

[zhockey] 25/4/2017 16:11

Bleepy I don't really get your point.

Why are they doing 15000m at The existing pit? In my view the hope is to find more high grade "Gadir" type lenses.

[bleepy] 25/4/2017 16:01

Zhockey
Why don't you report as it reads, they are carrying out extensive exploration and production of both MAIN OPEN PIT and GADIR UNDERGROUND mines


"These initiatives include extensive exploration and production optimisation of both the main open pit and the Gadir underground mines to enable the company to gain a better understanding of the resource so that we can develop Gedabek in the most effective way."

[jbravo2] 25/4/2017 16:00

I suspect you do
:)

[zhockey] 25/4/2017 15:50

Jbravo,

I suspect they are looking for more Gadir's under the existing resource.

[jbravo2] 25/4/2017 15:40

Down 60%? Its up from this time last year or indeed from the time of the last AGM.
Its down more than 60% from its peak ever. Why don't you use that instead? ;)

"Practically written off their main gold reserve"?
I guess you're using the word "practically" to denote that they've not actually done that. It would be strange to write it off and then drill 15,000m or whatever it is they've said they'll do.

[bleepy] 25/4/2017 15:20

Anglo Asian completes strategic review
By StockMarketWire | Tue, 18th April 2017 - 08:22
Anglo Asian Mining has completed a wide ranging strategic review and has started to implement initiatives to ensure sustainable, long-term production at its Gedabek gold, copper and silver mine in Azerbaijan.

It said extensive exploration and production optimisation was planned for both the main open pit and Gadir underground mines in 2017 and Gedabek ore stockpiles would be processed while exploration and production optimisation was on-going during a temporary pause in mining ore.

It said ore mining would commence from a new open pit at the recently discovered Ugur deposit in the fourth quarter of this year.

- Conservative gold production target for Gedabek for the year to 31 December 2017 of between 52,000 ounces and 58,000 ounces (which includes approximately 8,000 ounces to 10,000 ounces of production from the flotation plant and 8,000 to 10,000 ounces from the new Ugur open pit), reflecting the strategy of exploration and long term production optimisation

- Copper production target for FY 2017 of between 2,000 tonnes and 2,400 tonnes, comprising between 600 tonnes to 700 tonnes from SART processing and between 1,400 tonnes to 1,700 tonnes from flotation

- Total production target for FY 2017 expressed as gold equivalent ounces of between 64,000 ounces and 72,000 ounces compared to FY 2016 actual total production of 72,304 gold equivalent ounces

It said gold production for Q1 totalled 11,078 ounces - 9,258 ounces contained within gold dore, 5 ounces from SART processing and 1,815 ounces from flotation (Q4 2016: total 15,483 ounces).

Copper production for Q1 2017 totalled 606 tonnes - 210 tonnes from SART processing and 396 tonnes from flotation (Q4 2016: total 578 tonnes).

Silver production for Q1 2017 totalled 39,369 ounces - 2,447 ounces contained within gold doré, 5,523 ounces from SART processing and 31,399 ounces from flotation (Q4 2016: total 50,216 ounces)

Chief executive Reza Vaziri said: "Following completion of a wide ranging strategic review we are now implementing various initiatives to ensure sustainable, long-term production at Gedabek.

"This is in response to our discovery of the Ugur deposit and a recent reduction in ounces of gold produced due to the decreasing gold grade of ore mined.

"These initiatives include extensive exploration and production optimisation of both the main open pit and the Gadir underground mines to enable the company to gain a better understanding of the resource so that we can develop Gedabek in the most effective way.

"We are also testing a new configuration of the flotation and agitation leaching plants to give us added flexibility in processing.

"Important to this strategy is that we have extensive stockpiles of ore at Gedabek, which can now be processed initially by flotation, whilst mining is temporarily paused.

"Given the increasing proportion of copper in our production we will now also be presenting our total production target as gold equivalent ounces to aid comparability.

"The temporary cessation of mining in the main open pit for the remainder of 2017 will also enable redeployment of the equipment necessary to develop the newly discovered Ugur deposit into an open pit mine located three kilometres from Gedabek.

"This is an exciting development for Anglo Asian and we plan to start production from the open pit at the Ugur deposit in Q4 2017.

"Whilst we undertake this exploration and optimisation throughout the remainder of 2017, we will understandably see a reduction from the level of gold production seen in the past two years, and this has been reflected in our gold production target for the year.

"However, this will be offset by increasing production of copper and we are confident that the initiatives that we are taking this year will provide the foundation of future sustained growth and development of the company."

[zhockey] 25/4/2017 14:54

Jbravo, not long ago you were predicting a step up in production and great news ahead. The share price is down 60% and the company have practically written of their main gold reserve. Not really all that great is it?

[mattjos] 25/4/2017 14:29

thanks jbravo

[jbravo2] 25/4/2017 14:03

lol zhockey.

What has happened that has been so terrible?

[jbravo2] 25/4/2017 14:01

MKS Finance SA

[zhockey] 25/4/2017 14:00

Last year guys came away from the AGM full of hope, look what happened

[mattjos] 25/4/2017 13:52

can anyone remember the Swiss refiner that processes our gold dore please?