Anglo Asian Mining Share Discussion Threads

[mattjos] 26/3/2018 12:56

A record Q1, profitable FY 2017, JORC upgrade & then maiden dividend .... all these will put further bricks in the well over the coming 2 months

[mattjos] 26/3/2018 12:53

If AAZ were seeking an equity raise, share price Angel would be banging the drum every week about the company with uber bullish predictions, solely motivated by their desire for fees.
Non-producing & skint Georgian Mining being a prime example of how share price Angel have huffed & puffed every few weeks to try and get the price up (nor nowt really).

I've concluded we're better off without them putting anything out .. I doubt they will anyway, not until after the 2017 results now.

[return_of_the_apeman] 26/3/2018 12:45

Published AISC H1 2017 $564
Gold price average for Jan/Feb $1333 - AISC $564 = $769 per oz
Mid range if this year's projected output is 81,000 oz

$769 x 81k = over $62million

So by the simple calculations above that is more output than today's MCAP of $61.32million!

+ Mine life is going to be extended now well above the current 7yrs

Very happy that a re-rate will happen here

[mattjos] 26/3/2018 12:27

This is the news we have been waiting for fgsake!

We're very likely about to shortly announce a record Q1 production with a Gold price well above the company expectations.

Shortly thereafter we will have the second crusher coming on-stream and therefore the long-awaited ability to have parallel processing streams for both oxide ore and sulphide ore.

Increased waste from the processing plants can be handled by the upgraded pipework to the newly enlarged tailings dam.

There is very, very clearly not an issue with LOM .. later in the year we will have a new JORC + the financial details of a profitable 2017 laid bare .. likely showing us trading on a trailing p/e of 2'ish.

Just how much more is required before the penny finally drops here ?

I've added again this morning

[bleepy] 26/3/2018 12:23

Gedabek processing facilities) accessing mineralisation below one of Gedabek open pits to assess dip extension of the mineralisation currently mined from surface.
Drilling from surface at Gedabek confirmed the presence of the gold copper mineralization most of which is contained within 50-100m from surface susceptible to open pit mining as well as additional mineralised zones at lower horizons (>150m from surface) potentially to be extracted from the underground.
Among wider and higher grade intersections are (no information on true thicknesses is provided):
MPDD304 15m (from 109m) at 7.8g/t Au, 62.3g/t Ag and 1.0% Cu;
MPDD309 26m (from 29m) at 2.3g/t Au, 18.9g/t Ag and 0.6% Cu;
MPDD312 21m (from 65m) at 2.0g/t Au, 9.4g/t Ag and 0.1% Cu;
MPDD315 13m (from 45m) at 3.6g/t Au, 55.1g/t Ag and 1.7% Cu;
RCH_2179 33m (from 10m) at 0.1g/t Au, 1.8g/t Ag and 1.1% Cu;
RCH_2126 25m (from 45m) at 0.0g/t Au, 0.4g/t Ag and 1.1% Cu;
RCH_2178 23m (from 13m) at 0.1g/t Au, 2.3g/t Ag and 1.1% Cu.


Terropol has the broker issued guidance based on this report.

[bleepy] 26/3/2018 12:20

“At Gadir, c.9,500m of drilling has been completed with exploration focused on production drilling as well as on testing down dip extensions to the mineralisation.
Additionally, the Company completed some 1,550m of production tunnelling with a spiral ramp development reaching 386m as well as around 1,050m of exploration adits.
Longer drill holes from surface returned wide high grade intersections proving up the dip extension of the mineralisation and allowing to prolong the life of mine. Selected intersections are provided below:
GEGDD25 7m (from 327m) at 4.1g/t Au and 13.5g/t Ag and 12m (from 338m; same hole) at 6.7g/t Au and 15.8g/t Ag;
GEGDD26 5m (from 336m) at 3.4g/t Au and 2.8g/t Ag and 18m (from 357m; same hole) at 4.3g/t Au and 7.8g/t Ag;
GEGDD33 2m (from 272m) at 8.5g/t Au and 3.1g/t Ag and 3m (from 291m; same hole) at 3.4g/t Au and 4.3g/t Ag.”


These are high grades indeed below Gadir.

[bleepy] 26/3/2018 12:16

“Among high grade intersections at the edge of the driven adit below the Gedabek Pit 4 are (intersections contain only negligible amounts of copper and are not included below):
UDD171 11m at 3.0g/t Au and 14.3g/t Ag;
UDD172 5m at 3.1g/t Au and 28.4g/t Ag;
UDD174 6m at 9.7g/t Au and 44.7g/t Ag.”

The above to me suggests oxide ore..

[bleepy] 26/3/2018 12:13

Terropol

The brokers take on drilling results show extremely high grades with additional details of exploration.
Based on those grades we are off to the moon.

[mattjos] 26/3/2018 12:01

Henwii ... 37000 is the limit at present. more than that and you have to pay over the offered price

[return_of_the_apeman] 26/3/2018 11:58

Henwii, as is often the case here, you will have to place small limit orders or use fill or kill to build a decent stake

Stock is tightly held unfortunately

[terropol] 26/3/2018 11:57

Company News

Anglo Asian Mining* (AAZ LN) 39p, Mkt Cap £44m – Detailed 2017 exploration update

The Company released a detailed report of the completed 2017 exploration programme on its website this morning.
At Ugur, c.8,700m of drilling has been completed which coupled with exploration work done in 2016 resulted in a maiden JORC resource/reserve estimate of 147koz of gold in reserves and 199koz in total resource.
At Gedabek, the Company completed c.8,400m of surface drilling to better define the distribution of gold and copper mineralisation as well as drove a 600m long adit from Gadir underground workings (400m away from Gedabek processing facilities) accessing mineralisation below one of Gedabek open pits to assess dip extension of the mineralisation currently mined from surface.
Drilling from surface at Gedabek confirmed the presence of the gold copper mineralization most of which is contained within 50-100m from surface susceptible to open pit mining as well as additional mineralised zones at lower horizons (>150m from surface) potentially to be extracted from the underground.
Among wider and higher grade intersections are (no information on true thicknesses is provided):
MPDD304 15m (from 109m) at 7.8g/t Au, 62.3g/t Ag and 1.0% Cu;
MPDD309 26m (from 29m) at 2.3g/t Au, 18.9g/t Ag and 0.6% Cu;
MPDD312 21m (from 65m) at 2.0g/t Au, 9.4g/t Ag and 0.1% Cu;
MPDD315 13m (from 45m) at 3.6g/t Au, 55.1g/t Ag and 1.7% Cu;
RCH_2179 33m (from 10m) at 0.1g/t Au, 1.8g/t Ag and 1.1% Cu;
RCH_2126 25m (from 45m) at 0.0g/t Au, 0.4g/t Ag and 1.1% Cu;
RCH_2178 23m (from 13m) at 0.1g/t Au, 2.3g/t Ag and 1.1% Cu.
The tunnelling has also intersected mineralisation between Gadir and Gedabek and is expected to be drill tested this year.
Among high grade intersections at the edge of the driven adit below the Gedabek Pit 4 are (intersections contain only negligible amounts of copper and are not included below):
UDD171 11m at 3.0g/t Au and 14.3g/t Ag;
UDD172 5m at 3.1g/t Au and 28.4g/t Ag;
UDD174 6m at 9.7g/t Au and 44.7g/t Ag.
“It is further planned to utilise these data for a resource and reserve update,” the report read.
At Gadir, c.9,500m of drilling has been completed with exploration focused on production drilling as well as on testing down dip extensions to the mineralisation.
Additionally, the Company completed some 1,550m of production tunnelling with a spiral ramp development reaching 386m as well as around 1,050m of exploration adits.
Longer drill holes from surface returned wide high grade intersections proving up the dip extension of the mineralisation and allowing to prolong the life of mine. Selected intersections are provided below:
GEGDD25 7m (from 327m) at 4.1g/t Au and 13.5g/t Ag and 12m (from 338m; same hole) at 6.7g/t Au and 15.8g/t Ag;
GEGDD26 5m (from 336m) at 3.4g/t Au and 2.8g/t Ag and 18m (from 357m; same hole) at 4.3g/t Au and 7.8g/t Ag;
GEGDD33 2m (from 272m) at 8.5g/t Au and 3.1g/t Ag and 3m (from 291m; same hole) at 3.4g/t Au and 4.3g/t Ag.
At Ordubad, exploration works targeted the Shekerdere zone located in the central area of the license with the programme including channel sampling of historic adits, surface geochemical sampling, mapping and trenching.
The programme identified a massive porphyry style alteration zone with works currently ongoing to understand the genesis of the mineralisation.
The Company has also identified high grade outcropping mineralised gold/copper veins as a result of the reconnaissance programme in the Soyudlu area warranting further follow-up exploration work planned for 2018.
Conclusion: Positive exploration results highlight numerous close to surface high in copper intersections at Gedabek defining the floatation plant feed for future production of copper/gold concentrate. While a number of short holes returned wide and high grade gold intersections at Gedabek, potential for higher grade feed for the tank leaching plant (in addition to the high grade material sourced from the nearby Ugur open pit and Gadir underground operations) is likely to come from deeper levels at the Gedabek deposit as indicated by drilling results from the adit driven below the Gedabek open pit. The Company is planning to incorporate latest drilling results in the updated mineral resources and reserves statement.

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

Brokers take on drilling.

[henwii] 26/3/2018 11:54

Can anyone actually get a quote online for a decent size buy?

[jeanesy] 26/3/2018 11:51

MM spread is not really encouraging people to buy . Once the news gets noticed then we should move up from here.

[bleepy] 26/3/2018 11:28

Come on guys, no need to read between the lines any longer. It’s in black and white the stage of where we are at and clearly identified where we are heading. A long life and profitable mine with the the finest of teams at the helm. A company with shareholder value at its heart that actually listens and responds, a rare quality indeed amongst their many.

[jbe81] 26/3/2018 11:23

PR still holding AAZ back. RNS should have be released at 7am and highlights could have been included, shown by the lack of trades. Still the company is massively undervalued and continues to grow. If only they were better at telling their story to the market. The company is doing well enough now that they could bring somebody in to do this.

[bleepy] 26/3/2018 11:15

CONCLUSION AND SUMMARY

Extensive exploration work was carried out during 2017 which resulted in:

A. UGUR DEPOSIT
• Completion of the exploration programme provided data for the JORC classified resources and reserves, on which the mine was constructed and brought into production (in less than one year from the commencement of exploration drilling in 2016).

B. GEDABEK OPEN PIT
• Production from the main Gedabek open pit was temporarily halted to allow for the core drilling and reverse circulation drilling to take place. This work confirmed the presence of further mineable copper and gold ores and allowed for a better understanding of the metals distribution. Resulting from this work, mine design and planning was carried out.

C. GADIR
• Surface and underground drilling yielded results that show the continuation of the Gadir orebody down dip, thus providing confidence in short-medium term production. It also expanded the mineralisation footprint and established that mineralisation is open at depth. Further mine development work took place for production mining access.

D. GEDABEK UNDERGROUND
• The planned tunnel from the Gadir mine to the down dip mineralisation beneath the Gedabek open pit (northern part) was successfully completed and exploratory drilling confirmed the presence of mineralisation. It is planned to extend this tunnel under the Gedabek open pits.

E. SOYUDLU
• A new area was discovered as a result of the reconnaissance mapping programme. High grade surface mineralisation of copper, gold and silver was established that will be further tested in 2018.

F. ORDUBAD CONTRACT AREA
• The discovery of massive alteration zones of porphyry style and confirmation of copper and gold mineralisation were the main results of the 2017 work. Preliminary study of the geological relationships between the known mineral occurrences commenced, with the aim to establish the genesis of the mineralisation and determine further work programmes.


The positive 2017 exploration and development results provide a robust platform for the 2018 exploration programmes. AIMC contract areas host many styles of mineralisation and significant concentrations are known. Prioritisation, exploration and evaluation will allow for these to be placed into the resource to reserve pipeline, thus firmly establishing the future for sustainable production and company growth.

[edjge2] 26/3/2018 11:10

looks good needs to break above 45p. 39p cheap imo

[bleepy] 26/3/2018 11:06

Soyudlu

Just 2kms away and...

“Three quartz veins containing pyrite and chalcopyrite were located, with vein thickness varying from 0.15 up to 1.0 metre wide. The metal grades in the veins range for gold 0.3 to 4.8 grammes per tonne, silver 1.0 to 2550 grammes per tonne, and copper 0.5 to 6.9 per cent.”

“Given the grades discovered on surface (tabulated below), the area warrants follow-up exploration work.“

[bleepy] 26/3/2018 10:59

Page 16 of 39...

The fan drilling from tunnel below Gedabek open pit has identified 2 substantial ore bodies. Noted that average depth of drill is just 30mtrs at this stage of exploration with further exploration targeted for 2018-2021.

The $6ml exploration programme will no doubt be very busy over the coming years in this area of the pit alone.
Onwards with the rest of the report....

[goldrush] 26/3/2018 10:58

The last paragraph from the Conclusion and Summary on Page 28

“The positive 2017 exploration and development results provide a robust platform for the 2018 exploration programmes. AIMC contract areas host many styles of mineralisation and significant concentrations are known. Prioritisation, exploration and evaluation will allow for these to be placed into the resource to reserve pipeline, thus firmly establishing the future for sustainable production and company growth.”

Says it all really....a great piece of work by The Team. IMHO.

[bleepy] 26/3/2018 10:34

Pages 14/15 of 39 reads...


“This tunnelling provides access for further drill chambers to assess the mineralisation between Gadir and Gedabek, as it is currently interpreted that the mineralisation of both zones is offset by a fault structure. Much of the area between these two zones has not yet been drilled and will be subject of both surface and underground drilling in 2018. Images capturing the underground tunnelling situation at end 2017 are presented below.”


Potential for another open pit and underground mine lying between Gadir and Gedabek open pit and on the doorstep of processing plant.
No wonder the expansion to plant and ancillaries and hugely successful optimisation of process options identified.

[catsick] 26/3/2018 10:15

I particularly like the bit " Soyudulu is Azerbaijani for rapidly rising share price "

[catsick] 26/3/2018 10:00

This soyoldululu area could be very interesting line another ugur with the good stuff all at the surface .. going to be lots of good exploration news flow as well as ramped up production as wellas a hopefully ramped up gold price ....