Anglo Asian Mining Share Discussion Threads

[gutterhead] 30/9/2017 21:55

If the companies are valued to assets and potential, this has a long way to go

Need support at 35p for next upwards push

[mattjos] 30/9/2017 20:16

If Ugur maintains an average of, say 175 oz per day for 300 days in 2018, that is 52,500oz for the full year.Add in heap, SART, Gedabek ore & contributions from Gosha & Gadir .... it is quite realistic to am for 100koz, gold equivalent ounces.At that rate, UGUR will maintain contribution for a further 2 years.In that timeframe, will we find another Oxide resource / have upped our ability to process Sulphide ore to overleap Ugur's yearly contribution? Make your own minds up but, the company has a good track record in this regard & certainly 2018 is shaping up to be a monster!

[bleepy] 30/9/2017 19:09

Stephen Westhead and co have clearly demonstrated how to fast track exploration to production. The management of this process is second to none requiring tight organisation with clear and defined deadlines. I think Reza has known from the start what Gedabek has on offer and is patiently building toward that end. You can't afford to dismiss the the plant and the order in which he has chosen build. He knows the bigger picture and is putting the last few brush strokes to it. It was a master stroke this year to further explore so many areas, bring Ugur to production, carry out plant reconfiguration highlighted potential savings of $7ml/yr and maintain the production target from stockpiled ore. Q4/17 will see the sequenced restart to production of Gedabek open pit, Gosha and Gadir. Most of the deadlines set have been within targeted timelines again showcasing the qualities of the whole team at aaz. Q3/17 ops and production update will enable many to appreciate the fuller picture and potential going forward.

[celeritas] 30/9/2017 17:43

Spot on Matt.
Reza made some great appointments especially Westhead who's experience is really making a difference to the step by step development of resources. Aam have never looked so good in all the years I've been following them. Over the next few years if aam isnt taken out I expect them to really move up through the gears into a company many times today's mkt cap.

[mattjos] 30/9/2017 15:24

I believe the Flotation plant was constructed and runs in a fashion that facilitates modular expansion ie. by adding more tanks.

Current production from the stockpiled sulphide ore via Flotation and the oxide Ugur ore via Agitation (+ Heap & SART) is more than sufficient to pay down the current debts, fund further exploration & other initiatives.

If they take a modular route to expansion of Flotation, based on what the underground exploration at Gedabek details, then overall capacity expansion need not be in such large chunks from here onwards ie. they should not need to take on such large tranches of debt again.

I believe that is the approach that Bill Morgan would advocate (he is conservative in his nature) & also that Stephen Westhead would advocate ie. act on the data received.

That would also help keep the company on the "right" side of the PSA & also leave cash available for a rainy-day and also for dividends.

All in all, we are entering a hugely exciting 6-9 month period, imo.

[mattjos] 30/9/2017 15:08

2sporrans .. yes, that's why it is now getting very exciting as to what lies deeper at Gedabek. Reported vertical drilling from the surface has identified higher grades at depth. Now the tunnel from Gadir is complete (they have already reported higher grade intercept during the tunnelling that was sufficient to process rather than treat as ROM ore & dump onto the Heap Leach pads) they will begin to get data on the Horizontal sequencing of the higher grade ore.

That combination of the vertical drill data & the horizontal fan drilling will enable a 3D model to be constructed & fleshed out. The company has also recently advised investment in staff training on advanced modelling software (tagged on as a two line sentence at the end of a recent RNS - I forget which one though).

They clearly intend going underground at Gedabek to access the higher grade ore.

Whilst we may have some physical capacity constraints in terms of crushing ability for the Ugur ore, there is plenty of potential to increase the overall rate of production if the ore fed into the various processing methodologies is higher grade.

Zhockey goes on about the company having a predominantly Gold+Copper-rich resource at Gedabek but, too much in the way of Leach processing capacity.
However, the company has very clearly demonstrated the advantages of having both Agitation Leaching & Flotation plants.

Some may argue that Reza has been a bit scattergun in his strategy since 2009 & that is an argument that I have some sympathy with but, he is not a miner by trade .. he is an entrepreneur, an opportunist & a businessman.
His willingness to opportunistically back himself & the company, according to what they have encountered at Gedabek has (maybe fortuitously) resulted in the company now being in a position to handle pretty any type of ore they encounter and to do so profitably.
Yes, they have spent a lot of Capital on getting here & arguably a seasoned mining CEO would have gone about it differently .. probably would have used the more 'typical' equity funding route and raised more than £20m at IPO and more along the way.

However, I believe I know which of the two approaches is most likely to reward the equity holders in the company & he is the largest single holder of equity in the company.

Bittibulag was last appraised in 1947. Big advances in exploration techniques over the last 70 years

[2sporrans] 30/9/2017 14:00

Thanks for the reports linked to in your No. 9259 report Matt.

Reading the Durham Uni. one, there's detail that rather chimes in with what you wrote recently envisaging a metal rich veneous layer lying just below the current bottom of the main pit - Page 16:
"Gedabek is the best-studied deposit and only operating mine in the district.
The ore body is a sub-horizontal lens of highly silicified rocks at the contact between middle Jurassic andesitic volcanoclastic rocks and a
late Jurassic granodiorite. Hydrothermal alterationis lithologically
controlled by a subhorizontally bedded volcaniclastic rock sequence."

Noted this on Bittibulag:
"The Cu-As-Au mineralization is
a 60m by 50m sized body"

A rather small prospect, on the face of it.
But then again, Ugur was too.

More to persuse there.....when have time.

[goodgrief] 30/9/2017 10:52

I'm not sure of another hot tip from ZH... Eurasia Mining. One of the industrial uses for PGM's, catalytic convertors, must surely be on a downward trend. The demise of ICE and the rise of eVs bode well for copper but not PGMs.

Anyway back to AAZ...

[jbravo2] 30/9/2017 10:42

Hmm. He also highlighted PVR so I reckon most know zh is far from a sure thing.
Who is?

[mattjos] 30/9/2017 10:01

Zhockey ... it's ok to hilite some others but, would rather you did not suggest they were a better option than AAZ.That's not in the spirit of the thread please

[zhockey] 30/9/2017 06:48

Bleepy,

The theory is that there could be several high grade lenses under the pit, similar to Gadir and what Siemens were mining in the 19th century.

I see Matt has his red pen out, remember Matt that many of the holders here first bought AAZ following my suggestion to take a look. Keep an open mind.

[bleepy] 30/9/2017 00:31

Bill alluded way back that copper would be a major contributor to bottom line and Bittibulag was I believe on the back burner then. As Matt pointed out with successful configuration trials under their belt the plant can be utilised to suit many ore types and throughput. The trials proving up to $7ml of annual savings is achievable. Up and coming ops and production update might well dictate plant expansion, we will know shortly no doubt. They also must have a good idea what lies beneath Gedabek open pit, why else drive a tunnel down. The fan drilling will target precisely the routes and grades most beneficial to mine. Plus further exploration carried out at Gadir with Ordubad also on the back burner. Plus a.n.other Stephen Westhead has in his portfolio.

[mattjos] 29/9/2017 22:30

The Handle usually declines circa 30% of the right hand advance


free stock charts from uk.advfn.com

[mattjos] 29/9/2017 19:22

Bravo ... unfortunately, the report on Bittibulag that I found last year (authored by AAZ geologists) was promptly taken down and I don't think any here got to see it.Vuggy silica present at Bittibulag. The report alluded to AAZ having a processing plan.What's clear from the Durham University report is that the area is criss-crossed with historically identified deposits & some may argue why do any more exploration?Yet, we have found a new deposit right on our doorstep at Ugur that seems otherwise unidentified.Modern processing methods e.g. SART & our F+L / L+F will enable old deposits to be profitably re-opened & modern exploration techniques will enable new & deeper deposits to be discovered. We have huge acreage, the ex-POLYUS Geologist, the talented John Monhemius & very competent Azeri Geologists

[jbravo2] 29/9/2017 19:13

lol
Not even looked yet thanks zh.
Once I cash in my holding here I'll look I promise... but not before then.
I'm not yet in the situation where I'm wondering what to do with my spare pounds. They go in here.

[jbravo2] 29/9/2017 19:03

Spot on david.
Lots of fabulous posters. Me especially. :D

Thanks matt, looks great but I thought there were no resources left? :D

Have a good weekend all.

[davidspringbank] 29/9/2017 19:00

I think this is the best BB on the planet and I've been on quite a few over the years. The quality of posters is first class.

[mattjos] 29/9/2017 18:38

enjoy..



compare maps with:



I think Bittibulag or "Bitti-Bulakh" is approx. 3 - 5Km North of Ugur.

Bitti-Bulakh: Historical production 16,000t @ 2% Cu

[2sporrans] 29/9/2017 15:54

NEX Secondary market:

Interesting......

hxxp://socialstockexchange.com/nex-exchange-flashboys-not-required/

"So unlike just about every other stock exchange I can think of, NEX Exchange is not about trading, but about investing – two very different activities, the line between which has become unhelpfully blurred, often to the detriment of both companies and the people who invest in them. Birley has an entirely company-focused attitude to NEX Exchange, where trading volumes – the conventional measure of ‘success’; for an exchange – are no guide at all. “Trades [of shares] should happen when new investors come in, or old investors decide to exit. Nobody is going to ‘get rich quick’ trading in sub-zero seconds on our exchange; they’ll get poor quick,” says Birley."

[jbe81] 29/9/2017 15:45

Looks like it will be moving up shortly

[mattjos] 29/9/2017 15:43

taken another 20'odd k here today, while its quiet.

[celeritas] 29/9/2017 15:40

Decent read


In July, the latest month for which we have figures, Britain's gold exports were worth more than any other physical export. More than motor vehicles, more than engines, more than pharmaceuticals or crude oil. In fact, gold accounted for more than one in ten pounds of UK exports that month.

And while the flows are volatile, this is hardly unusual. Over the past five years, gold was Britain's biggest export after cars - bigger than any other physical export.

[el_duderino_7885] 29/9/2017 13:15

Guys I don't usually ramp on here but remember the tiny uk gold miner Galantas?

Well they finally had positive news today. £8 million validation for a soon to be producer. Up to 30,000 oz a year/high grade and very low cost.

Finallly won their long standing court case!!