Anglo Asian Mining Share Discussion Threads

[bleepy] 26/10/2017 13:02

Again the raising of the tailings dam wall and laying of pipe from dam to production plant is a give away...


To support the planned expansion resulting from the exploration activities and other production increases as a result of the strategic review earlier in 2017, the Company is also increasing the capacity of its tailings dam to meet future requirements.
Work is also underway constructing a second pipeline between the tailings dam and the Company's processing facilities to facilitate planned expansion of the processing facilities.

[bleepy] 26/10/2017 12:59

These updates are detailed and thorough and certainly different from the past. Perhaps since Stephen Westhead has been onboard.
The information containing grades found from exploration samples will probably be presented in an Ugur style report(which was presented in fine detail) rather than dropping morsels to speculate on.

Mattjos it’s been said Gedabek open pit has 10yrs minimum life thus far and that’s by extending the back wall. Given the probable life of Gedabek is 20yrs since inception then one can speculate the life of an underground mine beneath the open pit. From surface drilling at Gedabek they have some idea of what lies beneath. Plans to further extend the tunnel confirms this. Once fan drilled they will formulate a 3D image that can be targeted and accessed precisely from such tunnels.

[mattjos] 26/10/2017 12:23

this is very interesting:
"It is further planned to extend this tunnel along the Gedabek mineralisation beneath the backwall of the open pit and to fan drill to assess the mining potential for a Gedabek underground mine. This exploration work is planned for 2018 as underground mining equipment is now being utilised to mine ore at Gadir. The mineralisation target is additional to the current Gedabek open pit reserves"

[jbe81] 26/10/2017 10:58

Certainly should be a lot of shares changing hands today, good for a sharp rise going forward. Would expect it finish about 32-33p. Chart should still look good, Matt.

[gutterhead] 26/10/2017 10:51

Thanks Terropol, I was probably expecting too much too soon..... will be interesting to see where these end up today.

[terropol] 26/10/2017 10:41

Guttetrhead, I am sure those will come as soon as they have all required info by the market regulations.
They may have in house calculation but you can only inform the market when you have ticked all the boxes.

[gutterhead] 26/10/2017 10:26

Jbe, you’re right, but I’m talking about future production numbers and financials

[jbe81] 26/10/2017 10:23

I assumed people were expecting drilling results attached.

[jbe81] 26/10/2017 10:22

Gutterhead, q3 production numbers are already out?

[gutterhead] 26/10/2017 10:19

Lots of information but no forward looking profit or production numbers included. I think that’s what is missing.
I don’t think the company is worth any less than it was yesterday but the rns hasn’t given what was expected/wanted. They need better advice on market comms.

[bleepy] 26/10/2017 10:18

jailbird

No, learnt my lesson here trying to trade so in for the long term. The information flow and content reaffirms the value of the company and the drive and determination demonstrated. They are very much in the habit of understating and over delivering, the past 12mths being a typical example.
Just one example, their recent trialling of plant reconfiguration highlights potential savings of $7ml/yr going forward. This company are at the top of their game.
Do your own research, read, watch and listen to the company as many have done and are doing and then decide.

[celeritas] 26/10/2017 10:18

It is a very positive rns no doubts about that. I guess separating the 2 had some hot t money in. Hopefully got rid of them now as I'm expecting AAM to move up the gears.

[terropol] 26/10/2017 10:15

Well Guys a wile back people were thinking AAZ was running out of gold, The company is telling you all "IT IS NOT RUNNING OUT OF GOLD".
They may not be in a position yet to state numbers, there are regulation before you can do that.
This is a GREAT COMPANY RUN BY BRILLIANT AND I REPEAT BRILLIANT PEOPLE.

I have just come back from there and seen all this going on with my own eyes.
I pushed the company to update the market on future situation as people on here were worried abut it. (ZHOKEY) one of those.

Today the company is done just that.

While there I also pushed the company in looking at paying a divident, THAT WILL BE LOOKED AT SOON i am sure.

I bought a few more today and will keep doing that up to £1.

Look forward to a bright future here, this is my 12th year of following this company every day and held shares in it since 2005.

[bleepy] 26/10/2017 10:08

Mattjos, the rns is highly informative especially for the long term investor here and not just dropping morsels for the traders. Keeps the “chimps” away and the serious investor well informed.

[jailbird] 26/10/2017 10:04

Bleepy You sound desperate ... T+ position

[bleepy] 26/10/2017 10:01

Forgot to mention...

Debt falling fast, gold and silver prices holding and very profitable for Aaz.
Copper price very robust at a time when world supply is in decline and EV’s projected to place heavy demand of the metal.

Ongoing exploration of prospects on Gedabek production plant doorstep at Ugur and Soyudlu getting a mention. Makes sense to explore potential prospects as near to production plant and Stephen Westhead seems to have a nose for it.

[mattjos] 26/10/2017 09:55

bleepy .. all good points & much to take in from the RNS over the next couple of days but, if saving money was the object then better to have lumped this into the Q3 Production update (as per the norm).
Not sure if share price Angel have suggested this approach to news-flow but, however it has occurred, it is clearly wrong decision just now.

Anyway, no point moaning about it. What's done is done & hopefully Reza & the BOD will learn a lesson from this one, minor though it is.

Back to focussing on current production performance from Ugur for now

[bleepy] 26/10/2017 09:49

Enough said, time to check down the back of the sofa for topping up.

[bleepy] 26/10/2017 09:47

As always our extremely cost conscious CEO has crammed so much information into just one rns scrutinising and accounting for every cent spent. After all he has $4ml of his own money invested as a loan that was offered at a crucial stage of aaz’s development. What more could you want of a CEO.
This rns demonstrates a highly professional approach and evaluation of Aaz present and projected with annual reviews of 3yrly exploration planning in place.
They aren’t going to sit on their hands for a single second.
The level of accountability is second to none, deserving much merit and reward.

[jailbird] 26/10/2017 09:42

No point spamming the RNS , we can all read itIt is a disappointing update , ONLY because ppl had higher expectations In 6 months this will be different

[bleepy] 26/10/2017 09:31

Anglo Asian CEO Reza Vaziri commented: "We have been extremely busy on the ground in Azerbaijan in regards to exploration. We recently reported increased production for quarter three of 2017 with the commencement of mining at Ugur. Having spent time in 2017 optimising the extraction of gold and gold-copper ores from the Gedabek open pit, we now look forward to recommencing mining to contribute to production in the first quarter of 2018 with the enhanced knowledge of the mineralisation that these exploration activities will provide. We are also increasing the capacity of our tailings dam to support the expansion."

[bleepy] 26/10/2017 09:29

As already said, AAZ demonstrating their intent by planned raising of dam wall by 12mtrs.


Gedabek tailings dam wall raise to support planned expansion now underway - wall is being raised to provide additional six metres of vertical capacity in first phase and a further six metres in second phase - scheduled for completion by the end of 2017.


Tailings dam
To support the planned expansion resulting from the exploration activities and other production increases as a result of the strategic review earlier in 2017, the Company is also increasing the capacity of its tailings dam to meet future requirements. The work required consists of raising the existing tailings dam wall using rock that is mined and hauled to the tailings dam. This work is being carried out in two phases which in total will raise the wall by an additional 12 metres. The volume of rock required of phase I (a raise of 6 metres) is approximately 700,000 cubic metres. This work is scheduled for completion in Q4 2017, after which time the equipment currently being used will be redeployed to Ugur mining activity, run-of-mine pad and stockpile management and preparation of works to re-commence mining activities to the Gedabek open pit. Work is also underway constructing a second pipeline between the tailings dam and the Company's processing facilities to facilitate planned expansion of the processing facilities.

[bleepy] 26/10/2017 09:25

Gedabek open pit...
On-going drilling programme at Gedabek open pit to evaluate and optimise the mine plan ahead of recommencement of mining activities in Q1 2018


Gedabek Open Pit
Certain mining operations have been temporarily suspended to enable development exploration, optimisation and redeployment of equipment to other tasks. Mining in the Gedabek open pit was suspended in Q3 2017 to allow for continuation of the drilling programme to evaluate and optimise the extraction of the gold and gold-copper ores. Some of the heavy earthmoving equipment has been redeployed for transporting stockpiled ore for production, construction and implementation of the new open pit mine at Ugur, and raising the tailings dam wall. Reverse circulation ("RC") and core drilling ("DD") is ongoing at the Gedabek open pit. As at the end of Q3 2017, 31 RC drill-holes with a total of 2,978 metres and 34 DD drill-holes with a total of 1,792 metres were completed. Another 5,000 metres of drilling is planned for Q4 2017.

To complete the first phase of the tunnel between Gadir and the Gedabek underground mineralisation, some 600 metres of tunnelling has been completed that intersected Gedabek style mineralisation at the end of the tunnel drive. It is further planned to extend this tunnel along the Gedabek mineralisation beneath the backwall of the open pit and to fan drill to assess the mining potential for a Gedabek underground mine. This exploration work is planned for 2018 as underground mining equipment is now being utilised to mine ore at Gadir. The mineralisation target is additional to the current Gedabek open pit reserves.

[bleepy] 26/10/2017 09:21

Ugur
Exploration underway at newly producing Ugur open pit mine with the objective of defining extensions of similar mineralisation to increase resource inventory

Ugur Open Pit Mine
Quarter three of 2017 proved to be a significant milestone for Anglo Asian with the commencement of open pit mining of the Ugur gold deposit following completion of the JORC mineral resource and ore reserve statements. Work at Ugur in Q3 2017 focused on finalising the geological work for mine planning and project construction. The geological team is now assessing the surrounding area for extensions of the Ugur type of mineralisation, and has taken 295 geochemical samples from surface.

[bleepy] 26/10/2017 09:14

Each section alone deserves thorough reading and digesting, let’s take a look at Gadir..

Gadir Underground Mine
As previously announced, ore production was temporarily stopped from the Gadir underground mine in February 2017 to allow development and exploration drilling. Production from Gadir recommenced in September 2017. Underground development and exploration activity until end Q3 2017 included 2,712 metres of tunnelling that comprised spiral ramp development for production preparation, exploration tunnels at Gadir, and an underground tunnel from Gadir to the deep mineralisation at the northern end below the Gedabek open pit. Drilling activity for ore extraction planning comprised 48 DD drill-holes with a total of 1,311 metres of BQ diameter, 36 DD drill-holes (HQ/NQ size core) with a total of 2,268 metres completed. 2,711 metres of sidewall has been geologically mapped. This work confirms that Gadir can recommence production in Q4 2017 and has provided over 3,250 assays.

Regarding surface extension drilling of the Gadir mine to evaluate further down dip potential, nine core drill-holes totalling 4,007 metres were completed. 2,150 samples have been assayed which has provided results that demonstrate continuity of mineralisation.

To complete the first phase of the tunnel between Gadir and the Gedabek underground mineralisation, some 600 metres of tunnelling has been completed that intersected Gedabek style mineralisation at the end of the tunnel drive. It is further planned to extend this tunnel along the Gedabek mineralisation beneath the backwall of the open pit and to fan drill to assess the mining potential for a Gedabek underground mine. This exploration work is planned for 2018 as underground mining equipment is now being utilised to mine ore at Gadir. The mineralisation target is additional to the current Gedabek open pit reserves.