Anglo Asian Mining Share Discussion Threads

[gutterhead] 17/7/2017 22:33

No real negatives in the statement but it has a lot to do to meet gold forecast.
Copper positive, debt reduction good, costs reducing, think it is set up to rise after the statement due later this month.
It seems better placed than when it was at 80p?
35p a share seems a long time ago but could come back and go beyond quickly.
Good luck all

[brasso3] 17/7/2017 20:58

I thought todays news was quite neutral.

It will trade sideways until some more significant news is released.

Copper production just keeps on growing quarter on quarter.

[brasso3] 17/7/2017 20:51

Chart update

[mattjos] 17/7/2017 19:05

Reza must wonder what they have to do:Debt too high ... now virtually halvedNo exploration ... new Ugur resourceNo long term mine plan ... now being flashed outProduction cost too high ... 25% reductionLong term site commitment with grid connection for electricShort term commitment by lending the company $3.8m ... which remains in place while they pay off commercial lenders.

[bleepy] 17/7/2017 13:49

High grade stockpiled ore/ore from Gadir,Gosha and oxide rich gold ore from Ugur will source the leaching-flotation process from Sept/17. A bumper of a qtr/4 anticipated and going forward as Gedabek open pit will be back on stream q1/18.

[bleepy] 17/7/2017 13:41

Ore production has also been stopped from the Gadir underground mine (from February 2017 until September 2017) to allow development and exploration drilling. Any ore mined from Gadir during this exploration development phase will be stockpiled for Q4 2017 production.( 9,591 tonnes of ore with an average grade of 5.17 grammes per tonne was also mined, in conjunction with its exploration programme, from the Gadir underground mine in Q2 2017).

Based on successful process test work, process flexibility between agitation leaching and flotation is possible, whereby the Company can utilise flotation first followed by agitation leaching, or vice versa. The benefits of the flotation-first configuration are increased copper concentrate production, while saving costs by removing the cyanide consuming copper before the leach circuit.

The production plan is to configure the plant to flotation-leaching between February 2017 to August 2017, and then revert to leaching-flotation from September 2017 to the end of year. In the latter period, plant feed will be sourced from Gadir (9,591 tonnes at 5.17grammes stockpiled so far),stockpiles, Ugur and Gosha (the Company's second underground mine, which is 50 kilometres from Gedabek). Full production mining in the Gedabek open pit is planned to resume at the beginning of 2018.

[jbe81] 17/7/2017 12:41

Silver and copper doing well too

[jbe81] 17/7/2017 12:36

Neutral/positive update shown by todays trading. Gold holding up well(more than can be said for bitcoin) just a question of when the share price heads north now.

[catsick] 17/7/2017 11:54

Update seems decent, especially that they could pay down 4m of debt while commissioning the water plant and putting the roads in to ugur , the update on ugur will be critical to the share price although it does not sound like we get a jorc report, probably just more drill news and info on what they have completed, it does seem like they are doing things backward I never saw a mine company commission a mine and then get the jorc report done .... usually there are many years between the two ...

[mattjos] 17/7/2017 11:23

unusually for AAZ, thus far, no 'sell on the news' trading action. I think the promise of an Ugur update before the end of the month will persuade many to sit tight & see what the company has to say.
Wonder if some of the Ugur strip is now finding its way onto the heap leach pads

[jeanesy] 17/7/2017 09:54

Although i agree about debt id say its a pretty neutral update. Production figures mean that there will have to be a pretty large increase from now on to meet even the lowest figures for the year. I find it hard to believe they have not lowered their forecast for the year, although they didn't last year, on similar worries, and in the end figures were not met. Hopefully there will be some good news on operations at Ugur. Much here still depends on finding more gold imo, so drilling news is the key. The volume in shares has been non existent for over a month now , so interest here has dwindled for now.

[mattjos] 17/7/2017 08:21

It is not just the debt reduction that is great news, it's also the interest burden on the dwindling principle sum. This step down in debt reduces that interest by $500k per annum.

[mattjos] 17/7/2017 08:12

with an update on exploration & operations at Ugur within next 10 trading sessions

[ferries5] 17/7/2017 07:37

On first read it made for quite pleasant reading. A lot better than I thought it would be.
Water treatment plant completed and being commissioned
Average monthly gold production for the second quarter was 4000 ounces.
Net debt down to $ 29 million, Gadir grades recovering to 5.7 g a tonne.
I look forward to the results of the drilling program at Gadir, Uger and the Main pit.

[mattjos] 17/7/2017 07:34

Agreed jbravo!Reza' statement sums it up perfectly. Terrific job by everyone.

[jbravo2] 17/7/2017 07:21

Great stuff.
You can see how fast debt is falling now in the weak half of the year.
Now work it out for H2!
Nice that they managed to continue to mine after all.

What's not to like?

[mattjos] 14/7/2017 22:51

the pink and red lines converged about this week, as news was expected towards end of this week. Sensibly, the company has not elected to RNS on a Friday so we skip to Monday. USUALLY, a falling share price on a convergence will produce an upward reversal & vice versa.

The Red and Blue lines hilit the falling wedge, usually bullish when seen in a longer term uptrend. It did break that wedge and subsequently slid back down the red line whilst waiting the news.

Both setups look bullish to me but, as we all know, this is a low volume stock on the AIM Market & therefore charts are not as reliable as those on larger markets with lower spreads & greater volumes.

I personally tend towards next week re-awakening the upward move. We can but wait and see :-)

[mattjos] 14/7/2017 22:36

zhockey, I have thought to filter or bar you from the thread but, on balance, have chosen not to .. .every thread should have at least one bear as it is distinctly unhealthy to be solely a herd of bulls + you do occasionally poppy-up a good nugget.

The chart is the chart and evolves with time but, this one can hardly be called 're-drawn' to suit. simple weekly chart & I've been as mm perfect as I can be. Triangular Apexes usually converge at/on future points in time when news is scheduled which will likely give impetus for forward movement. This one typifies that.

Personally, having profitably cashed in a couple of other trading positions this week & put aside some monthly income, I now have cash on hand for Monday here with a view to add further to my long term position but, let's see what the update brings ... steady as she goes with further debt reduction and a near-term flag on Ugur JORC suits me fine.
That will give us the usual AAZ news sell-off effect on the day and I intend to be waiting :-) before the later in the week inevitable reversal when folk engage brain thereafter. it usually works well here.


free stock charts from uk.advfn.com

[casabella2] 14/7/2017 22:10

Mattjos
9 Jul '17 - 19:46 - 7796 of 7815 0 0
Interesting week ahead!

Yes very interesting.

[el_duderino_7885] 14/7/2017 15:12

Let's not get too excited. Both silver and the miners have broken their uptrend lines dating back to 2015 which suggests gold will at least temporarily-test its uptrend currently at around $1,170. I hope not of course.

The dollar finishing the week below 95.5 would be very helpful!!

[el_duderino_7885] 14/7/2017 15:11

Let's not get too excited. Both silver and the miners have broken their uptrend lines dating back to 2015 which suggests gold will at least temporarily-test its uptrend currently at around $1,170. I hope not of course.

The dollar finishing the week below 95.5 would be very helpful!!

[mattjos] 14/7/2017 14:07

should be ... I simply cannot see the FED putting up rates this year. The data simply does not support it. If they do, they will tip USA straight into recession, if they have not already done so. Either they hold rates and look to reduce balance sheet or, they raise rates but keep balance sheet elevated. Can't do both at same time.
I believe they will hold rates and look to reduce their balance sheet.
Deleveraging is going to take a whole heap longer than people appreciate.

There is TOO MUCH DEBT in the system. The public can't take higher rates, any more than most governments can. Both sides will go broke.

US student debt is going to end up being lumped on the tax payer & so too will most of it here in the UK.
Don't see how Auto debt can be lumped on the taxpayer just yet but, they will try to find a way through collateralising it and flogging it on to pension funds/investment vehicles.

[robo15] 14/7/2017 13:48

Is this the breakout you are looking for ?

[el_duderino_7885] 14/7/2017 11:53

Gold broke out of the long term pennant and if you look at the chart its one of the clearest formations you'll ever see.

I expected a retest around $1250 but it turned out to be a false breakout and fell back in the pennant.

No chart is ever 100% Zhockey and no one can perfectly predict the future, you can use charts as a tool to guide you and swing the probabilities in your favour.

Gold has to break out of the pennant, up or down and stay there. It didn't so here we are again.

I said many times before this formation is inherently neutral and we have to wait for the market to tell us if gold is ready to break out. I have my opinion but that's all it is.

You keep telllikg everyone the world is going to end with 10p price targets etc. And you're perfectly entitled to have your opinion too.

[zhockey] 14/7/2017 10:16

And I find it hilarious that when chartists are wrong, which they invariably are, they are very quick to adjust their theory to show that their incorrect view of the world is still valid.