Anglo Asian Mining Share Discussion Threads

[gutterhead] 03/10/2017 22:54

Thanks Matt, a good summary.
Next update should bring in some more buyers, let's hope a lot more!
Agree ref price of Gold and for those that understand this share will know this is against the backdrop of reducing mining and operating costs.
I've really got enough shares but close to 25p will be very tempting to dip in again.
If we decide to have a year end aaz "spot the ball" competition, I'll go for 42p.

[hjsmc1] 03/10/2017 21:43

For the cup and handle to complete, a pull back is healthy. Cup Dec to SEP and handle now forming. Don't want it going much below 26 though. V bullish if it completes.

[brasso3] 03/10/2017 20:27

Q3 numbers will steady the ship. Anything else is a bonus.

[mattjos] 03/10/2017 20:19

Stay calm & drink some tea please jeansey. It's all in the chart. I believe there will be revelations aplenty coming along next week & gold wandering about at these levels is hardly a concern to AAZ .. higher would of course be nice but, is 1270 really a big problem for us? I don't think so.The next NK event likely to be a magnitude larger than those to date.The moment this turns up, everyone will be moaning again they can't get an online price to buy any. Each wave of buying is always just after a bout of selling .. that's just the way it is when there is a finite amount of stock but, that supply is consistent, getting tied up here by longer term investors / value seekers.I suspect the broker will be updating their coverage in the not too distant future :-)

[jeanesy] 03/10/2017 20:06

looks like the price here is mirroring POG. I really didn't expect it to fall so low. Lets hope the production figures and operational updates are positive. So much for the T10 brigade buying before the news !!

[mattjos] 03/10/2017 18:41

gutterhead .. Despite all todays movement it was pretty much 27.5 to buy in the morning and 27.5p to buy in the afternoon.

To try & find where support is likely to be, we first need to try and analyse the upward wave. Was it a typical EW advance? Yes, I believe it was. There is a clear 1,2,3,4,5 pattern here.

1,3,5 being the upward legs and 2 & 4 being the down legs.
In a typical pattern 1 & 5 are of equal value and 3 is the longest/greatest value, typically 3 is circa 1.618 times the size of advance 1.

Again, the pattern looks right. 1 & 5 were about 7p advance and 3 was 1.618 times 7p (near as damn it)

After the 1,2,3,4,5 advance we see an a,b,c retreat set in .. like a zigzag down move that usually ends around the same place where wave 4 ended. a & c are the down-waves and c ends lower than a .. b is the small intermediate up-wave.

Looking at the overall wave pattern, 26.5 was where wave 4 halted and it is also the 38.5% retracement level of the overall advance.

So, overall I think we are now there or thereabouts. I'd like to see the black part of the candlestick actually close on 26.5p with a following white candlestick upwards in the next day or so. Chart here to try and explain above comments:


free stock charts from uk.advfn.com

[sh0wmethemoney] 03/10/2017 18:39

What's people's thoughts, is there a gap to back fill on the 11th of Aug? Or will it bounce of the lower Bollinger at 25.4? https://ibb.co/cS6Xtw

[gutterhead] 03/10/2017 17:16

Matt, how do you see the share price playing out over Short term ? I know it's a guessing game but you're normally pretty close. Looks like it's being played ATM thanks GH

[mattjos] 03/10/2017 14:06

MM's playing it well to collect before next week. Picked up a few more

[celeritas] 03/10/2017 13:46

That seller from late last week is still here.
38k limit buy at 27p with smaller amounts available at 26.62.

In for a few more as I reckon he's nigh on done.

[celeritas] 03/10/2017 13:28

Gold price is all about the avg for the year, not the week.

[robo15] 03/10/2017 13:06

Production increasing in the month gold has dropped $100
Hasn't helped our cause !!

[ilostthelot] 03/10/2017 12:57

Sell on news eh... good results and we're off the highs of 34p last week 🤔 ah well more time to buy

[mattjos] 03/10/2017 12:22

What's limits pls?

[2sporrans] 03/10/2017 09:55

"...with 5-12% copper content they can be worth as much as gold ore at 20g/t, a cheap copper only process is needed for these."
Good point Petrusgazin.

So maybe there will be 3 sorts of plant expansion over next few years [or more?]:
1. Increased capacity for processing gold ore which contains copper and/or is sulphide: This might be incrementally achieved, by modular extension of flotation [tank] capacity. Even the latter, deeper, Ugur gold is likely to be sulphide rather than the oxide for next year or three.
2. New capacity to process copper or copper primary value ores, like from Bittibulag.
3. General capacity investment, like for the much mooted crushing.

This is only for the Gedabek zone, Ordubad will be a whole new chapter...

Whatever the plant expansions and when, it's looking like a parallel strategy will be called for, for stockpiling different ores and feeding them into processing.

Not had time to read the JORC docs. myself yet but note others comments here with interest.

[petrusgazin] 03/10/2017 03:15

Interestingly while Ugur has been developed a lot of work has been going on with the copper processes, as there is a huge stockpile of sulphide ore that has been built up the efficient use of this is very important, also without being able to deal with the high copper content ores cheaply the potential of the site is not maximised, the report that is being produced will update on how effective the new processes are and how the valuable ore stockpile can now be utilised, also the bittibulag ores have not been mined yet or even fully evaluated as there is just too much copper in them to put in the AL plant, even though these ores are very valuable, with 5-12% copper content they can be worth as much as gold ore at 20g/t, a cheap copper only process is needed for these and that can now be optimised, another requirement for large scale copper is cheap electricity which is also now in place. Ugur is up and running for 5 years and the focus now will be on the sulphide and copper processing.

[bleepy] 03/10/2017 00:07

Ops and production update will no doubt contain the bullet points, pics and $'s. Not long to wait for those.

The two PDF docs are for who are interested in examining the depth and breadth of the company. Scrutiny reveals a highly qualified, expertise and professional team right across the board. It's reassuring we are in such fine hands. Every dollar every dime is examined there's not a stone left unturned.

[mattjos] 02/10/2017 23:25

That report does highlight how difficult it is to balance particle size for a given ore grade and try to maximise both Au & Ag recovery rates. Eg. 95% leaching recovery for 1.5g/t Au after 48 hours but, that is also lowest (60.5%) recovery rate for silver. The heaps are much more effective with smaller particle size also .. greater surface area to volume ratio I assume but, more energy required to crush to smaller particle size.Au is obviously the more valuable metal so, the model will always be skewed to try and maximise recovery of Au.Clearly, There is a large notional value of metals accumulated & accumulating in the tailings dam.I wonder how effective the water treatment plant can be at recovery.You read that report and it rams home how much hard work has gone into it!

[goodgrief] 02/10/2017 23:24

... and did I mention dollar signs?

[goodgrief] 02/10/2017 23:17

Mr Market needs something Trumpian with bullet points and pictures!!

[bleepy] 02/10/2017 22:55

"Ugur Processing Method
A Metallurgical testwork programme has been carried out to assess the amenability of the Ugur mineralisation to cyanidation and leaching processes by current Gedabek AGL plant and Heap Leach process. The results showed a high level of amenability. The mineralisation is an “oxide” type, that is relatively soft, and requires comparatively low levels of processing reagents for recovery".


You can see from diagrams that Ugur lies midway along the Gedabek - Bittibulag fault line. Maybe much much more to be revealed along and below this fault line never mind the rest of Gedabek acreage, some of which is well documented in the ipo docs.

The two pdf's in rns will take days to fully absorb. The expertise demonstrated in these docs to discover, explore and bring Ugur into production within 12mths highlight the intention of this company going forward. Exciting times ahead.

[mattjos] 02/10/2017 22:50

Ugur may prove to be just another weathered (hence oxide) outcrop of a huge underground epithermal copper-gold system.If it proves to be contiguous with Gedabek ... well, the mind boggles. So much more to go at, in the broader Gedabek licence area ... for now, we have a source of oxide ore to chew on & it will be most fruitful in the next 18 months. The stacked sulphide ore will also keep the Flotation plant busy for much of that timeframe also so, our production costs should remain quite low. Cyanide from the Agitation leaching of the Ugur ore is recovered in SART and made available for Heap leaching.All of this processing is now running off main electricity at the main Gedabek complex. More consistent processing rates thru remainder of 17 & 18 look likely & still some unused capacity in the Agitation plant. With this in place, full steam ahead on exploration under Gedabek during the winter is sensible.

[mattjos] 02/10/2017 22:14

"The variation of RMR with depth is plotted in Figure 4. This appears to show a slight increase in rock quality over the depth range 80-120m, and another increase beyond160m, possible towards "fair quality rock". The first increase may correspond to the limit of the weathered zone in the ore body. The second increase may be related to the boundary between the oxidised and sulphide zones of the ore body. These predictions can be refined by data collection during excavation."In the years ahead, as go through the Oxide cap, we will see if Ugur mirrors Gedabek & morphs into Sulphide ore below 160m.This Ugur resource is just a pimple on the overall size of the Gedabek licence area.