Anglo Asian Mining Share Discussion Threads

[mattjos] 10/5/2017 20:11

I do believe the new reporting of GEO will help ... providing they continue to reference it in GEO terms against 2016 production, it should be clear for all to see and help remove the obsession with gold ounces in any one reporting period.There is no point in denying that Gedabek was historically a Copper mine ... most local folk & reference material will suggest the whole mountain is a pile of Copper.Yes, there is Gold & Silver there too but, from now onwards I think folk should look at this much more in the round ... if GEO reporting helps people understand the underlying financial metrics & the opportunity here then so much the better.

[andrewsr] 10/5/2017 20:00

Thanks, good steady progress being made and more to come. I agree, well worth holding/accumulating at the current level IMHO.

[mattjos] 10/5/2017 18:12

look at the photo of Ugur .. how many tonnes there @ 1.5 - 2g/t & 80% recovery rate?

The 'unknown', currently, is how deep does the Oxide layer extend before it coverts to Sulphide & is it a massive sulphide lens?
They are down to 100m drill depth so far (average) but report oxide only ore.

Given its proximity to Gedabek main pit, it would seem a reasonable assumption to make that there is a Sulphide layer at some point. If proven contiguous with the existing Gedabek Sulphide layer then, begs the question, Just how big is the greater Gedabek resource & how much Copper & Silver do they have?

If the company is able to reliably run at 70-80,000 GEO per year, with some spectacular years above that according to availability of Oxide ores, that is a very attractive proposition for a producer currently valued at £20m. It's so cheap (on cashflow and tangible asset terms) that I think folk just assume there is something wrong & shy away. People think it's going bust all the time when it very clearly is not.
If it was consistently valued at £50m-£60m mkt cap, I actually think more people would be attracted to it for stable long term growth potential.

Anyway, back to your point .. if the oxide ore at Ugur gives us say 5-8 years at 25koz per year to add in to the pot then, that's not a bad result if we 'only' then have the following deeper sulphide layer to start on :-).
In that timeframe they will have bought on Bittibulag and identified & proven others too

[andrewsr] 10/5/2017 17:23

Matt, the grades reported recently at Ugur seemed quite low, so the resource there wouldn't be that high, or is there reason to expect a large resource (> 0.5m oz)?

[mattjos] 10/5/2017 13:52

Agreed jbe. That was the non-written/verbal takeaway highlight for me also from the presentation & good to see plant at work on it & stripping having started ie. they are well underway.

AAZ have usually over-delivered in terms of delivering this sort of development on-site

[jbe81] 10/5/2017 11:00

From the presentation the key point to note is the size of the ugur deposit. Photo page 11. The q3 resource upgrade will be a game changer for the sp, and would expect some buying in anticipation

[mattjos] 09/5/2017 22:21

Anything possible jeansey but, I would be surprised if we see gold fall below 1210-15

[mattjos] 09/5/2017 21:42

With the 1mt of stacked ore .. circa 15-18 months of stock for the plant to chew + the ongoing heap leach fluids, they look comfortable through to Q4 this year & maintain if not reduce debt from current levels. Bill suggests they can maintain the reduction profile but, let's be conservative and say they keep it flat until Q1 18.In the interim, there is a helluva lot going on to give us some newsflow & that photo of Ugur is very far from just a shot of a few mineral outcrops that most explorers offer up. They are well on with the job.The whole Chovdar thing remains a distinct possibility & we must keep watch the Azeri press for developments & I am sure it will crop up at the AGM this year.Share price might remain a little rangebound until Q3 & the JORC release but, I don't see much by way of reason for a fall from here either.

[jeanesy] 09/5/2017 18:57

Lets hope we have some good news from the presentation, as POG moving downwards. Not far until 1200 is breached sadly !!

[ferries5] 09/5/2017 18:13

presentation video

[mattjos] 09/5/2017 11:08

& that osmosis plant is much bigger than I had imagined

[mattjos] 09/5/2017 11:05

good picture of Ugur on the presentation and clearly work well underway

[catsick] 09/5/2017 10:18

Nothing new on the presentation I guess the q+a will be where any interesting snippets come up, anybody on here going ?

[timberwolf3] 09/5/2017 10:04

New presentation

[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