Anglo Asian Mining Share Discussion Threads

[bleepy] 13/9/2017 09:34

Exstract from monday's rns...


CONCLUSIONS

Flotation of the Gedabek copper-gold ore ahead of cyanide leaching, compared with leaching before flotation, increases the recovery of copper by about 20% and decreases the consumption of cyanide during leaching by about 18%. There are also small increases in the overall recoveries of gold and silver. The quantity of the flotation concentrate is increased by about 55%; the copper contents of the concentrates are similar in both cases, but the gold content is increased by about one third. The decreased cyanide consumption and increased metal recoveries have a significant effect on the process economics, leading to an increase in annual revenues of several million dollars.

[ilostthelot] 13/9/2017 09:32

Nice update 👏

[bleepy] 13/9/2017 09:28

Not forgetting end of 2016 electrification of Gedabek pays for itself this first year and initiates a further $2ml annual saving.

[brasso3] 13/9/2017 09:27

Great news!!!

[bleepy] 13/9/2017 09:25

See this passing 35p this week toward new highs...any predictions out there

[2sporrans] 13/9/2017 09:17

Great update and worthy of a top up.
A bit slow to read and digest this but 28p buy is OK by me; especially as expect a bump up during the day.

Put this into perspective:
When AAZ first announced their change of strategy 18Apr17, it didn't go down at all well. Investor Confidence had already been shaken by several months of decliing grades and production.
When AAZ announced it was going to temporarily cease production from the main pit and Gadir underground, produce mainly from stockpiles, followed by Ugur production in Q4, not a few investors interpreted this as a disguised revelation that the main pit and Gadir were pretty much exhausted and also that Ugur probably wouldn't amount to much; AAZ were clutching at little more than straws there.
They doubted the version of reality and prospects announced by AAZ.

Since April, there has been a rapid series of accomplishments by AAZ that have both ameliorated the worst case interpretations of the resource remaining in the main pit and Gadir [see exploration and production updates] and not merely confirmed that Ugur is a significant, easy extract-process gold-oxide deposit but exceeded even AAZ's expectations for it.
There's about 140k of excavatable gold; all going directly through the Agitation Leaching + SART process with a high% extracted into dore.

Add to this, the good news, most recently underscored by that article Matt posted here, demonstrating that AAZ's flexible/optimal use of its plant is indeed improving productivity substantially, especially for copper/sulphide rich ores and the production picture is looking a whole lot better than back in April.
Selling the doubled up gold production since 1st September for $1300+/oz and the escalation of copper prices the past several months are valuable bonuses.
Revenue should guarantee debt paydown to as low as AAZ needs/wants over the next 2 years; new debt should then be raised at much lower rates if required for e.g. plant expansion or underground developments.

And there is more:
AAZ's communications with investors much improved.
They are delivering on what they forecast; in fact they are exceeding.
Further infrastructure improvements coming on stream progressively, further lowering already low costs.... Water treatment plant commissioned?

Crikey....the price has already taken off while I'm tapping in this.....
Should have bagged more!!

[bleepy] 13/9/2017 09:13

Celeritas, exploration of Bittibulag has been going for some time, I'm sure Stephen Westhead will maximise any potential findings. Also believe they have been holding back on Bittibulag for some good reason no doubt. The resource from memory is copper and would now fit nicely alongside the increasing international need for EV's.

[mattjos] 13/9/2017 09:11

we knew at the drilling phase that the rock was very soft and the testing confirmed it was very amenable to leaching with a good recovery rate

[cannonfodd3r] 13/9/2017 09:08

The main thing to take from this news is

Mining conducted by conventional shovel and truck haulage before crushing and agitation leaching treatment

* UGUR ore treated only by agitation leaching - flotation plant is now independently processing mainly high sulphide stockpiled ore

Costs are minimal, not even blasting required!

[goodgrief] 13/9/2017 09:08

That's more like it! I thought a 1p rise was a bit miserly.

[mattjos] 13/9/2017 09:06

that new haul road goes straight past Bittibulag, Celeritas.
The company has been active there for a long, long time & last year I found that report by the AAZ Azeri Geologist that detailed the ore type present, which was quite bullish.
Sadly, very shortly after I posted the link to that report, access to the report was restricted!

[celeritas] 13/9/2017 09:03

bleepy, I'm also very interested in Bittibulag, could be another quick mine for aaz.

[stealive] 13/9/2017 09:01

Absolutely and with production up 116% From previous 8 months things are looking good

[mattjos] 13/9/2017 09:01

through the recent highs now and certainly going to have a damn good bash on 30p today!

[mattjos] 13/9/2017 08:55

Anyone watching this company from the gold mining sector is going to be seriously impressed with it's growing technical abilities and track-record of delivery.

They've demonstrated they can run F+L or L+F, now they are showing they can quickly switch to two parallel streams of processing according to availability or Ore types.
In the background they have heap leach and SART & now the water plant reprocessing the tailings and cleaning up the water to a state that it can be discharged into the natural water courses and reduce the need for tailings dam expansion.

& we still have exploration ongoing in areas where we now have a new haul road back to Gedabek

[bleepy] 13/9/2017 08:54

Not forgetting ongoing exploration whilst awaiting results of Bittibulag

[celeritas] 13/9/2017 08:51

Excellent update, 7am would have been nice Reza.
Zhockey, you could give buffet a run for his money with your perfectly timed trades.

[bleepy] 13/9/2017 08:50

Highlights

* Significantly increased average daily gold production from Ugur - average daily gold doré production for first 10 days of September has more than doubled compared to the average daily production of the previous eight months

* Mining conducted by conventional shovel and truck haulage before crushing and agitation leaching treatment

* UGUR ore treated only by agitation leaching - flotation plant is now independently processing mainly high sulphide stockpiled ore

* Production at Ugur being conducted in parallel with optimisation and expansion initiatives across Gedabek to deliver a long-term, sustainable and profitable mining operation


Excellent update, more than doubling average daily production in the first weeks whilst in the process of ramping Ugur toward full production.

Q4/17 will also see Gadir and Gosha return to production with Gedabek open pit returning to production in Q1/18.

Production initiatives alongside optional plant configuration will provide sustainable mining, increased production and substantial cost savings.

[basem1] 13/9/2017 08:47

Anything over 10000 shares I'm being qouted 29.9p to buy.

[zhockey] 13/9/2017 08:45

Jbravo, well with the benefit of hindsight we would all be very rich :)

[jbravo2] 13/9/2017 08:42

Fabulous news. Well done AAZ.

Only surpassed by the news that mr hockey has put the £5 he had left after selling here at 18p, sticking it in PVR to see it more than half only to buy back in here at 28p.
Surely you would have been better sticking it in your latest thing? Think how many shares you'd get at EUA with that money. Well done mr hockey

[mattjos] 13/9/2017 08:37

terrific achievement by AAZ ... how many other miners do you know that go from Discovery to Production in this period of time?
And at same time work on plant optimisation and further exploration???

212 ounces per day of gold doré at startup and more to come as the production ramps up & coming at a time with gold clearly over $1,300 / oz

Well done AAZ !

[zhockey] 13/9/2017 08:32

Back in on the dip :)

[jailbird] 13/9/2017 08:30

Not sure of costsBut since higher gold and copper production this year at higher pricesHow much debt payment increase is forecasted ..£15m last year .. £20m +this year ?