Anglo Asian Mining Share Discussion Threads

[jeanesy] 13/3/2018 19:34

This mornings drop was to be expected as the news was well touted and it didn't really say very much. Lucky for those who were able to add more. Not sure when we will get any news on the drilling that took place in 2017 but we will get 1st quarter production figures next month which will hopefully make pleasant reading. Weather now becoming much milder and POG is steady enough so lots of cash being made by the company at this level.

[basem1] 13/3/2018 13:17

It always takes a day or 2 with AAZ for the news to sink in and let the sell on news brigade get out. Def time to add, gold on the up this afternoon too.

[gutterhead] 13/3/2018 13:10

Celeritas 12007 post
Well said, amazing how a neutral to positive update, 4p over reactive drop creates such a stir. Lots of duplicate posts, far too much said.
Value will out. It’s a great company, very well managed.
Time to be patient and sit tight.

[russman] 13/3/2018 13:09

This exploration program sounds expensive.How much.

[lefrene] 13/3/2018 12:44

A positive forward looking rns, I don't see this as a reason to sell, indeed it's a reason to buy. 10 years future production stock for the price of 4,600 ounces of gold out of an expected 80,000 ounces this year. And people sell?

[mr roper] 13/3/2018 12:39

sounds good to me

"2018 is shaping to be a busy year in terms of announcements of results from budgeted 43,500m at AAZ licenses"

[bleepy] 13/3/2018 12:08

In a nutshell....

There are numerous known mineral occurrences at Gedabek and ...

our existing mines have further development potential…

programme has the potential to significantly add value to your company

especially given our proven ability to convert mineral exploration results into resources and reserves and

fast track mine construction.

Stephen Westhead, a Geology Director at AAZ, commented on the plan.


Conclusion:

The Company is prepared to invest heavily in a systematic exploration programme with

a view to expand the current resource base and

extend the life of the available processing infrastructure at Gedabek.

2018 is shaping to be a busy year in terms of announcements of results from budgeted 43,500m at AAZ licenses.

[terropol] 13/3/2018 11:17

Anglo Asian Mining* (AAZ LN) 40.5p, Mkt Cap £46.1m – 2018 exploration programme

The Company is launching a three year exploration programme focusing on near existing operations targets as well as greenfield areas.
The plan is to extend the current mine life to a 10-year minimum.
2018 exploration budget is for $6m to be funded from internally generated cash flows.
Exploration costs include 43,500m of surface and underground drilling (12,000m of RC and 31,500m of DD), an acquisition of three drilling rigs ($1.5m) as well as a heli-borne electromagnetic srvey over the entire Gedabek area.
Gedabek: 15,800m of drilling planned (10,000m from surface and 5,750m from underground) testing mineralisation extension below the Gedabek open pit; previously, mineralisation intersections from drilling off the tunnel driven from Gadir under the Gedabek returned “positive (results) and confirmed the down dip continuity of mineralisation from the Gedabek main open pit”.
Gadir: 15,900m of drilling planned (7,500m from surface and 8,400m from underground) as part of exploration and underground mining operations.
Ugur: 9,000m of drilling planned to test extensions of the current mineralisation as well as test adjacent areas.
Gosha: 3,000m of drilling planed following up on results from geological mapping and surface sampling.
Ordubad: geological mapping, soil and stream sediment sampling with a follow up trenching programme is planned to identify potential drill targets.
“There are numerous known mineral occurrences at Gedabek and our existing mines have further development potential… programme has the potential to significantly add value to your company especially given our proven ability to convert mineral exploration results into resources and reserves and fast track mine construction,” Stephen Westhead, a Geology Director at AAZ, commented on the plan.
Conclusion: The Company is prepared to invest heavily in a systematic exploration programme with a view to expand the current resource base and extend the life of the available processing infrastructure at Gedabek. 2018 is shaping to be a busy year in terms of announcements of results from budgeted 43,500m at AAZ licenses.

*SP Angel acts as nomad and broker to Anglo Asian Mining

[catsick] 13/3/2018 11:07

45000m of drilling is a massive amount which is industrial drilling all over the place, remember the initial results at ugur that got everyone excited came from 20 holes with a total of just 360m of drilling so they are doing that times more than 100, they also did the trenching and then drilling before any results, I think they play their cards close to the chest until clear results are announced. I think its great to have a huge program going on and it will pay off in spades

[bleepy] 13/3/2018 11:01

Reza and Stephen Westhead ensuring on the job training for Anglo Asian Mining own staff alongside Datamine International supervision should further strengthen their in house exploration team going forward.

“Extensive use will be made of the Datamine suite of geological software tools to carry out this programme. These will be operated by Anglo Asian employees, following appropriate training, in conjunction with staff from Datamine International.”;

[terropol] 13/3/2018 10:55

YASX, happy to have a chat with you any time you like, On my visit to the mine and Baku also had a good look under the tunnel...Bought back quite a few stones, I am no geologist but can assure you plenty shiny stuff on it.

On My Way there also had a 2 days visit at A mine in Georgia not to far from Our Gedabek mine, continuation of the tectonic belt, Why is this relevant, well I tell you, The pit there was about 1 mile wile and nearly that in dept. They been digging gold out of that pit for well over 40 years (could be longer).
If Our Gedabek pit resembles that then we will be mining there for a long time...

I guess this morning we all would have liked thick Jam on our toast...
But from the wording I am assuming there is plenty Jam under the mountains there, and will be coming on our tables soon.

[saw89] 13/3/2018 10:42

Looks that served as a final good shake out....
Looks like these guys have a good plan, the end results will speak for themselves i am sure.

[yasx] 13/3/2018 10:39

2sporrans,

Excellent post.

[lefrene] 13/3/2018 10:35

I see the rns as solid good news, an enhanced exploration programme to identify and confirm the best extraction locations, confident that there is at least enough ore for the next ten years, the current programme to cost $6 million which is very affordable given the expected 80,000 ounces in the current year. The management here has walked the talk every inch of the way so far, under promising and over delivering.

The PR guys though don't seem up to adding metallic paint, dark glass, and bits of chrome. "What that dull old thing, yeah gets the job done, never breaks down, probably faster than anything else around, but take no notice of it", would seem to be their sales pitch.

The managers here have done an impeccable job in getting this mine to where it is and for impressively well controlled limited investment. You just know that when they say "$6 million", they really mean it. Those skills though don't seem to transfer to raising the profile and value of this company to somewhere near normal. The managers deserve better.

From a pure shallow PR point of view perhaps a better sequence would be:- Announce improved 2018 production expectations, then a maiden divi, then, 'guess what, for just $6 million we're gonna find another 10 years worth of this stuff'!

Just appeal to base instincts, leave the noble browed high ground to people selling religion.

[bleepy] 13/3/2018 10:33

Cost of the programme
The estimated cost in 2018 for the geological exploration programme is $6 million. This includes $1.5 million for the purchase of one reverse circulation and two underground core drill rigs. The entire programme will be funded from the Company's internal cash flow.


Failed to see what’s disappointing about the rns as much if not more than enough appertiizers to digest in one news release.

Patience and the need to fully appreciate what’s been laid out in detail.
Much prefer professional style of reporting than sensational news snippets released to suit traders. Results will speak for themselves, those that have researched the company can see clearly where we are heading.

[bleepy] 13/3/2018 10:15

Oh, let’s also explore the whole Gedabek acreage while we are at it...


Airborne geophysical survey of Gedabek
A heli-borne electromagnetic survey will be carried out over the entire Gedabek contract area in 2018. The survey will employ the Z-Axis Tipper Electromagnetic system (ZTEM). This is an innovative airborne electromagnetic surveying system which uses the natural magnetic field of the Earth. The system is an excellent mapper of surface geology and is deeply penetrating and well suited to rugged topography. This method is especially suitable for porphyry copper-gold and epithermal copper-gold-silver exploration.

The airborne survey will provide data about geophysical anomalies arising from mineral trends and occurrences. These will be analysed and prospective targets will be identified. The geophysical "signatures" of known deposits such as Ugur will assist identifying targets. Potential targets will be followed up with other ground-based geophysical investigative techniques including geological mapping, geochemical surveys and drilling. Depending on results, airborne surveys may be employed in the future at the Company's other contract areas

[bleepy] 13/3/2018 10:13

Many millions has already been spent at Ordubad so it makes sense to continue investigating....

Ordubad
Based on the results in 2017, an initial surface exploration programme is planned in 2018 to identify porphyry style mineralisation and its relationships with the known gold vein deposits of the area. This will include geological mapping, outcrop sampling, stream sediment sampling and follow-up trenching to provide multi-element geochemical mapping to define alteration zones known to occur with this style of mineralisation. Based on new knowledge, existing core drill data will be reinterpreted. Depending on the results in 2018 an aerial electromagnetic survey and follow-up drilling programme may be carried out in the future.

[jbravo2] 13/3/2018 10:13

YasX - indeed excerpts do show one side.
I see you used one of my more cogent, high detail pieces to demonstrate your point.

[bleepy] 13/3/2018 10:09

And of course our high grade mine....

Gosha
3,000 metres of core drilling is planned to explore for gold veins supported by geological mapping, outcrop sampling and geochemical sediment sampling.

[bleepy] 13/3/2018 10:08

Another little gemstone that took just 12mths from discovery to production has further exploration with view to expansionist life of mine...

Ugur
4,500 metres of core and 4,500 metres of reverse circulation drilling are planned for 2018. Targets to be assessed are extensions to the known mineralisation and drilling areas adjacent to the current mining area. Field mapping and geochemical surveying will also be conducted.

[yasx] 13/3/2018 10:08

Anyway, I won't labour the point again. I await (and hope for) more tangible developments going forwards.

Back at some point in the future. I will continue to hold unless or until events dictate otherwise.

[yasx] 13/3/2018 10:06

JBravo,

Selective excerpts show one side - but, there is no denyiung that most on here (including you and Terropol) were anticipating a far more palatable update. A few examples of what you had anticipated in terms of reaction, notwithstanding the fact that you now seek to suggest otherwise.

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jbravo29 Mar '18 - 16:27 - 11909 of 11985
0 0 0
Last minute rush before Monday?
What is it those rampers say?

"I wouldn't want to be out of this over the weekend"?
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TERROPOL6 Mar '18 - 09:36 - 11823 of 11985

A few more for me...absolute bargain below 40p!!
There will be no point trying to buy when further news is out, MMs will just close the door....and demand a much higher price.
Good morning all.

[bleepy] 13/3/2018 10:05

Again a vast amount of work and detailed planning for Gadir ongoing and throughout 2018...

Gadir
Both surface and underground drilling are planned. 7,500 metres of core surface drilling is planned in 2018 for both Gadir itself and between Gadir and the main open pit. The objective is to further define the footprint geology of Gadir and assess the geological relationship between Gadir and Gedabek mineralisation. 6,000 metres of underground core drilling (HQ/NQ size) and 2,400 metres of underground core drilling (BQ size) is also planned. The main purpose of the drilling is to provide geological data for the evaluation of the continuity of mineralisation and for planning in advance of mining.

[bleepy] 13/3/2018 10:01

“Gedabek main open pit
2,500 metres of core and 7,500 metres of reverse circulation drilling are planned for 2018. The main purpose is to identify the quantity and quality of the feedstock for the processing plants.”


Previously mentioned,by extending the back wall of the open pit it would provide another 7yr of life. That’s just the back wall of the open pit. Seemingly what lies above in the open pit also lies at depth below. Makes one wonder at the life of mine of Gedabek below the open pit.