Anglo Asian Mining Share Discussion Threads

[jaspoland] 12/10/2018 10:29

Important gold stays above $1214 for us to see a continued push north.

[celeritas] 12/10/2018 10:28

Yogundag epithermal system.

There's a new name I haven't heard before, on a quick read it looks like another large deposit.

[mattjos] 12/10/2018 10:14

OK chaps .... I will share now.

Suggest this is worth downloading and saving and then you can print off the pdf & take the time to read, highlighting the parts that are clearly of interest.
Admittedly it is a bit heavy going in places & the technical author does not have 100% perfect English but, I can totally assure you that it is worth reading. Took me a couple of hours to read twice and digest properly .. after which the light-bulb went on in my head, so to speak.

For me, this very clearly shows just how huge this Gedabek/Gadir complex truly is & how we are really only starting to get to grips with its potential .. particularly the real possibility that there are one/more huge copper/gold porphyry bodies located here + that Au, Ag & Cu are not the only elements present.

Go here & select DOWNLOAD FULL TEXT PDF in top Right of screen:



Enjoy

[gutterhead] 12/10/2018 10:03

gold strong at $1218

[jbe81] 12/10/2018 09:57

"We will update and release our earnings estimates shortly." wasn't that at the end of their last note too? Will we get their update or you news first ,Matt?

[mattjos] 12/10/2018 09:53

quite extraordinary that, given the update yesterday showing the tremendous progress made in Q3 & that FY production will come in at upper end of guidance (potentially even exceed guidance) that we are not already past previous 75p highs.
Production figures and cash metrics were stunning in that RNS.

Yesterday was an entirely false market, given the meltdown everywhere & was a superb buying opportunity here.

Worth re-iterating share price Angel's conclusion from yesterday:

Conclusion: The quarter delivered strong production growth with the Company targeting higher end of the 78-84koz GE guidance for 2018. Production numbers came in slightly ahead of our 22.2koz GE forecast on the back of stronger agitation leaching plant performance where gold recoveries improved to 92%, the highest level on record. We will update and release our earnings estimates shortly.

Target price here is clearly going to be moved up yet again by share price Angel but, they do not need to wait for a Gadir JORC for that as a JORC will not influence FY18 earnings.

[jbe81] 12/10/2018 09:44

How long do we have to wait??

[mattjos] 12/10/2018 09:34

you'll love it Brasso, trust me

[brasso3] 12/10/2018 09:30

You tease!

[mattjos] 12/10/2018 09:08

fyi .. have dug out some more research :-)

Will post up later for all to read ... rather interesting

[gymratt] 12/10/2018 09:08

Divi drop gobbled up in short order! ;@)

[jbe81] 12/10/2018 08:59

Nice to see normal service resumed here. Gadir jorc next week?

[goodgrief] 12/10/2018 08:51

"As we have observed so many times before, we are really only starting to find out what is truly on the Gedabek estate. Fortunately, we now have all the necessary processing plant and experience to do justice to what is fleshed-out over the next 27 months of detailed exploration".

I'm wondering (out loud) what the maximum throughput of the current plant is. Can they just incremental add bits of kit? At what point (presumably when we're all much richer) might they have to replicate the investment? In the IPO documents they were aiming for 250,000 Oz per annum.

[loafofbread] 12/10/2018 08:44

Dow futures up 500pts which should calm nerves?

[mattjos] 12/10/2018 08:29

This went into the close yesterday at 65-67 amongst the data meltdown so, I do not believe this has gapped up this morning

[bleepy] 12/10/2018 00:01

H1 2018 EXPLORATION ACTIVITY (UGUR deposit)


A. UGUR DEPOSIT Background
The Ugur exploration area is located in the Gedabek ore district, which is part of the Shamkir uplift of the Lok-Karabakh island arc volcanic structural-formation zone in the Lesser Caucasus Mega-anticlinorium, Azerbaijan, Western Asia. The main Ugur gold deposit is located within the Gedabek-Bittibulag regional deep fault system. The gold mineralisation developed mainly during the Upper Bajocian tectonic-magmatic cycle. During Upper Bajocian times, the central tectonic zone formed a right-lateral strike-slip fault represented by a number of sub-parallel-trending faults (55-85o) with a combined length of 1.0 to 1.5 kilometres.
The Ugur gold deposit was emplaced at the intersection of NW, NE, N and E trending structural systems regionally controlled by a first order NW transcurrent structures. The fault dips between 70o to 80° to the north-west. The faults of the central zone control the hydrothermal metasomatic alteration, gold mineralisation, Upper Bajocian Atabek-Slavyanka plagiogranite massive intrusion, and in some cases are the borders of the elevated tectonic blocks formed by Lower Bajocian volcanic rocks.
In cross-section, the geological sequence is dominated by secondary quartzites (strongly altered rhyolite) being formed under the influence of the Atabek-Slavyanka plagiogranite intrusion observed in exposures to the north of the gold mineralisation area. The oxide mineralisation zone thickness within the area varies between 80 to 120 metres.
The deposit is currently being mined and exploration activity has focused to assess potential extensions to the deposit.

Exploration activity in H1 2018
• 5 core drill holes with a total length of 2,274 metres.
• 120 linear metres trench sampling.
• 505 outcrop samples.
• 28,000 square metres of lithological-alteration-structural mapping.
Drilling work in the first half of 2018 comprised 5 drill holes with a total length 2,274 metres. The locations of these drill holes were based on geological-structural mapping, surface alteration, geomorphology, outcrop and trench sampling. All drill holes intercepted extensive pyrite rich sulphide mineralisation but with very low gold and silver grade. Only one drill-hole, drill-hole number UGDD51 that was drilled to the South of the Ugur mine intersected high grade copper and silver mineralisation. The depth of the mineralisation was from 301.85 metres to 310.25 metres (thickness 8.4 metres) with average grade of 1.15 per cent. copper and 123.5 grammes per tonne silver. This indicates the presence of deeper mineralisation, however the orientation is unknown. This is one of the target areas to be assessed further to the planned airborne geophysics programme scheduled for Q3/Q4 of 2018.
Drill hole locations and core photo of the UGDD51 is shown below.
Surface exploration work continues about the Ugur deposit comprising geological mapping, surface sampling, trenching, however airborne and surface geophysics is planned to assess the deeper potential.

Ugur Surroundings
During the construction of the haul road to Ugur, fresh rock was exposed. Strong hydrothermal alteration and brecciation is observed in the road cuttings approaching the Ugur mine. Hydrothermal alteration mainly consists of argillic and strong oxidation types. Some 505 samples were taken from these alteration zones, and 120 linear metres trenching was carried out. Exploration continues.

[mattjos] 11/10/2018 23:54

just been on to Google Earth to check the Gedabek site and also the Ugur co-ordinates.
Realised that because Google Earth runs in Chrome, you can use ChromeCast to Cast the display to your TV ... looks very impressive on big screen TV. Ugur is the red flag over to the left of this image:

[mattjos] 11/10/2018 23:14

:-) ... let us hope that once we have removed a good chunk from surface at Ugur and then drill again, we find it is a bit like Gedabek, a (Gold & Silver rich) oxide cap atop a main sulphide ore body (rich in Copper & Silver with some Gold).

As we have observed so many times before, we are really only starting to find out what is truly on the Gedabek estate.
Fortunately, we now have all the necessary processing plant and experience to do justice to what is fleshed-out over the next 27 months of detailed exploration.
For all we know at this stage, Gedabek open pit may prove the poor relation to its neighbours.

I bet Stephen can't wait to get the Heli-survey data and help them narrow down the exploration efforts asap.

[2sporrans] 11/10/2018 22:34

On the silver in Ugur Matt:

You prompted me to re-check the JORC drill data and yes, Ugur is replete
with silver.

Further, you will doubtless recall this drill core from the 2018 explo. :

UGDD51 301.85 down to 310.25m - 8.40m SILVER 123.50 g/ton - Juicy.
Also Copper 1.15% - very decent. 0.05 g/t gold ....well 2 out of 3 ain't bad.

Long way down but is that just a rogue outlier or is there a lot more at depth?

[wanobi] 11/10/2018 21:18

TXP - Interview with Paul Baay



Published on Oct 11, 2018

Cheers
Wan

[loafofbread] 11/10/2018 21:07

Gold at 2 month high.

[conundrum] 11/10/2018 21:06

Spot gold price currently $1,222

Encouraging for tomorrow

[jeanesy] 11/10/2018 20:34

Wow what a day !! That is some price action. Someone got lucky early doors topping up/buying at such a low price. If that was a 60k buy at the end of today at 68p then that should bode well for tomorrow !! :)

[mad foetus] 11/10/2018 20:15

RRS was up over 8% today. Not sure why, but I take them as the benchmark for how gold miners are doing. So I think we have some catch up to do. I'm not sure about the seller and all the talk of them getting out before dividend required them to disclose their position (don't divis just get paid to nominees these days?). But one thing for sure, AAZ is cheap, and if it is being held down for artificial reasons, as it was for months at 40p, then just buy and hold and wait for the inevitable leg up.