Anglo Asian Mining Share Discussion Threads

[cannonfodd3r] 08/5/2017 16:17

Well yeah, it tells us what they are doing, not a lot more that can be done until JORC assessment is complete.

Everyone has been complaining there's not enough communication, do they communicate and still complainers!

Stephen knows the grades but won't announce until assay checks have been done as he's professional, the fact he's opening a pit however tells you it's decent though as do the previous RNS's

[mattjos] 08/5/2017 14:56

we're starting to get some meat on the bones of the strategy, so to speak.
I assume Proactive will release the presentation video later this week also.

Will be interesting to see when the Azeri Press reports the tender results

[zhockey] 08/5/2017 12:23

Cannon, does it?

[celeritas] 08/5/2017 11:54

Excellent update, lots more to come I believe.

[bleepy] 08/5/2017 11:11

Anglo Asian completes core drilling at Ugur deposit

By StockMarketWire | Mon, 8th May 2017 - 07:33


Anglo Asian Mining has completed phase II core drilling at its Ugur gold deposit, located on its Gedabek licence area in western Azerbaijan, ahead of targeted first mining in the fourth quarter.

The group said it had made considerable progress made at Ugur which supported its strategy to increase exploration activities at the Gedabek Licence alongside continuing production to optimise long-term profitable and sustainable production.

It said Ugur production would contribute to Anglo Asian's total gold equivalent target for 2017 of 64,000 to 72,000 ounces.

Chief executive Reza Vaziri said "As a result of the accelerated work programme conducted at Ugur over recent months, we are on track to deliver a JORC reserve and ore extraction plan in Q3 2017 - less than a year after the deposit's initial discovery.

"As a production company with multiple mines, both open pit and underground, the Ugur deposit will be an important new component of our evolving production portfolio.

"During the remainder of 2017, when production from stockpiles will play an important role in contributing to our total gold equivalent target of 64,000 to 72,000 ounces, bringing Ugur into production will be a welcome new development.

"It demonstrates the value we are creating due to our increased emphasis on exploration to create future flexibility and growth at our Gedabek Licence.

"We look forward to seeing the results of our optimisation efforts in 2018 when full production recommences at Gedabek."

[cannonfodd3r] 08/5/2017 11:09

No news, bet then there isn't really any more to say, however it confirms what folk have wanted to hear and been asking for

[zhockey] 08/5/2017 10:13

There is no new news here, the production increase is down to reporting gold equivalent ozs.

[2sporrans] 08/5/2017 09:46

Good. This timely update is supportive of the initial new strategy release in April.
Looks like there's plenty to extract from ground level so the Q4 production ought to prove straightforward and low cost, given it should be amenable to heap/agitation leaching.
Guess the forthcoming exploration/development of the main pit + Gadir will reveal more about the total resource prospect than further Urgur detail; hence the muted recovery in the share price
Yes, does look like Steven Westhead is masterminding the way forward; a reason for at least cautious optimism.
Although I lack Catsick's divining abilities with Tea leafs, I note my large box of Mr. Waitrose's Tea bags is of his "Gold" blend.

[bleepy] 08/5/2017 09:29

Mattjos

Forward thinking indeed to reveal and estimate what is below the oxide ore at Ugur before commencing production of the oxide ore layer.
Again Stephen's experience and 'nose' sniffing out that ore.

[bleepy] 08/5/2017 08:56

Not forgetting...

* $2m savings per year going forward as a result of recent electrification. This removes the production down time outages that were experienced using diesel generators. These generators can now function as standby back up, enabling belt and braces strategy.

* additional saving from tailings plant with metal recovery now possible

* excellent progress on water treatment installation

* healthy manat exchange rate

[mattjos] 08/5/2017 08:48

That's better! Now, they will have some data to depict and discuss at the presentation & JORC on the way.Agreed .. Stephen now has the whip hand on exploration (as it should be) & the data will greatly assist the mining plans from here on.What lies beneath the oxide zone at Ugur? We'll have to wait to hear but, likely break into more sulphide ore at some point as they drill deeper.

[bleepy] 08/5/2017 08:46

First class rns..

* 15,000 mtrs drilling at presently mined Gedabek open pit, at what depth I wonder (another Gadir perhaps)

* preparation for production from new open pit at Ugur prospect

* extensive underground exploration of Gadir alongside creating further development tunnels

* reconfigured flotation plant to optimise ongoing production from ore stockpiles

*. FY2017 estimate 64k-72kozs of GEO alongside above is impressive indeed, exceptional strategic planning. Stephen Westhead showing us all why he was added to an already excellent team at Aaz.

* all the while debt is being reduced as planned

[catsick] 08/5/2017 08:14

Excellent rns , they are fleshing out the main ugir orebody, looks like it has at least 300k oz of gold all righ at the surface with some nice grades, I would imagine they can start with a year worth of 2g per ton production at very low cost of extraction which can be mixed with the heavy sulphide ore for a very efficient outcome, I think stephen is now calling the shots and wants to get all the assets drilled heavily and let that dictate strategy .... my tealeaves never lie

[ferries5] 08/5/2017 07:25

The RNS is a bit to technical for me , But seems a step in the right direction.
Hopefully we will get a bit more drilling news in the next few months.

[jeanesy] 07/5/2017 19:17

I for one will be very surprised if we have anything to do with Chovdar

[mattjos] 06/5/2017 18:17

09:03:17 12:45 AzerGold plans in 2017 to produce about 1.3 tonnes of gold from gold-bearing Chovdar
(Open in Google Chrome for Translation)
In this article the govt states; "The field is ready for the development and for this purpose involved 186 people"
(On the basis of the AAZ headcount, imo, this does not seem sufficient number of people employed at AZERGOLD to run the Chovdar mine themselves).

---------------------------------------------------------------------------------

Next we see in the Azeri press the following two newsitems stating that tenders need to be in by 5pm on 8th May & 'tender will take place @ 4.30pm & 5.30pm on 10th May' (respectively


27.03.2017 14:19 AzerGold orders primary surveys on its three fields



27.03.2017 15:05 AzerGold orders a feasibility study of Chovdar field exploitation



19.04.2017 13:00 AzerGold starts refinement of own-produced gold, silver bullions


So AZERGOLD has also now signed a contract with Argor-Heraeus in Switzerland for them to refine the gold & silver output from Chovdar.

In this article I like these two statements;
"Besides, refining companies representing different countries have researched that AzerGold meets standard international requirements, its transparency based on several criteria." and;
"With most of its gold resources still untapped, the country has a room for investors in the mining industry."


So, Chovdar is still very much in the mix here & we might expect to hear who has won the tender process soon.

Step-by-step AZERGOLD is going through an open & 'arms-length' process by which it can select & appoint various third parties (& be seen to have done this correctly) to bring Chovdar back into production & be able to sell its gold & silver on the world markets without the issues last time around.

How AAZ & AZERGOLD might work together is still unknown but, not for one second do I doubt that there is a continuing dialogue between the two parties.
The process appears to be all that the AAZ Directors said they wanted to see transpire when quizzed at last year's AGM.

[cannonfodd3r] 05/5/2017 08:19

AAZ has historically paid little attention to gold prices, rising on gold falling and vice versa interestingly

[jeanesy] 04/5/2017 19:40

Another day and another fall in POG and copper.Where are all those bulls who said 1400?? Sorry but already closer to 1100 than 1400. There is nothing to stop it falling further imo as we reach the summer months !! Some positive news desperately needed soon to support the current shareprice.

[2sporrans] 04/5/2017 09:50

Aye to that Catsick.

Prodding a procession of teabags floating in my cup is proving an exercise in opacity.

[catsick] 04/5/2017 04:20

I personally prefer to look into my morning cuppas tea leaves to charts and this morning they told me that we were due a nice exploration update on Ugir that would justify opening up the new pit and shifting all the gear from the other site ...

[jeanesy] 03/5/2017 21:45

Sadly POG getting hammered today !

[mattjos] 03/5/2017 21:05

if you go back to Dec 09, NUMIS issued a sell note and again cut their note from previously 80-90p & then 15p and then in December 09 back to 6p, off the back of recent missed production targets.
Around that time also, Reza reported how excited they were to be selling gold at $1,049/oz & just how big a deal such a price was for the company, long term.

A year later the stock was up 800%.

Company later dumped NUMIS as the house broker.

[mattjos] 03/5/2017 20:33

anyway, back to the chart and this is best way I can try to show the similarities between 2010 and now.
Patterns often repeat but, absolutely no guarantees of course.

A mirror repeat would see us back at 22p pretty quickly

Clever chap Fibonacci


free stock charts from uk.advfn.com

[edjge2] 03/5/2017 19:56

Perhaps a bounce off 16 support, a weak hope but does have potential after this holding period. Guess cannot finanace 2 projects at once.

[mattjos] 03/5/2017 19:26

Accepted zhockey, however ....It would be totally non-sensical to recruit Stephen Westhead to the company if it were not the express intent to utilise his skills, knowledge and abilities in exactly this arena.The company has both the tangible extractive & processing assets and talented, hard-working & experienced human assets, all now in place.I am sure the combination of Stephen Westhead & John Monhemius will help steer the company right from here onwards in terms of finding & processing the ores on their estate.