Anglo Asian Mining Share Discussion Threads

[pogue] 21/7/2020 18:34

Thanks for the Proactive video Wan very informative. To me the Prof looks way to happy to give away 55% of his company. He knew of the gold when he was a boy he said and judging by his age that was probably just after WW2. Started drilling it 20 years ago and only now is there any interest, at a wild guess I would say it maybe a problem with the cost of extraction that has kept people away for so long. It will take 4 years minimum to get a mine he said so where will gold price be then? Could be totally wrong but buying a gold mine when the price of gold is high is never a good time I would say but who knows it may be a good deal AAZ have been sniffing around it for a while.
If anyone knows how UKOG went I see some similarities, everyone knew the Surrey Hills had oil in them since I started working in oil but one day a salesman starts calling it a massive oil field and gets loads of mug investors to pay for him to build an oil well. It went badly wrong for the mug investors needless to say as there was not enough commercially available in this 'massive' field. Not calling AAZ mugs but not convinced the Irishman is an honest man.

[saturdaygirl] 21/7/2020 18:18

And we are off gentlemen !

[wanobi] 21/7/2020 18:16

thanx SK74, I guess it's the NIMBY's that everyone is concerned about,,, to me it's all there for the taking,,,, but, maybe the NIMBY's will prevent it happening,,, however, I'm still hopeful the AAZ team will have considered this and have a plan,,, we shall see :-) LOL, fingers crossed :-) Cheers Wan :-)

[mattjos] 21/7/2020 18:02

interesting opinion Ptolemy. Lets see how the market weighs it over the coming months.
From the interview link just posted, the emphasis seems very much to be about getting a shift on with more drilling.
It's still option money at this stage but, AAZ Geology team will now get the data straight from the drill bit & therefore should quickly be able to determine the accuracy of prior Conroy drill reports.
I imagine all this will certainly have piqued the attention of John Monhemius as he is Irish by birth

We have the cash & we know how to get a mine built and get it running & we are keen for expansion. We therefore offer very complimentary skillsets to Conroy, who seem to have been nursing a dream for a long, long time & proving it in baby-steps for many years. It may well prove to be an inspired and fortuitous marriage.

€2m upfront for first dibs? Gold price rise far above management price assumptions means we are, in effect, spending money we did not have budgeted as incoming so

One thing for sure … We've seem to have the 'Anglo' part of the company name to go with the 'Asian'.

The rabbit is now running .. I'm sure we are all very interested to see where it goes.

[bleepy] 21/7/2020 17:56

JV with Conroy reminds me of the start up of Gedabek, could this be another Gedabek.

Start up of Gedabek relied on soviet data declared in the admission docs to guide them toward exploration.

Convoy has already carried out extensive exploration across its licences with a jorc resource of 500,000 ozs au declared and an additional 8.8 million ounces of gold exploration targets in the Longford Down trend providing significant upside potential.

Aaz have been carrying out due diligence at Conroy for the past 12mths and are fully aware of the potential. We have the best team in the gold mining world so no stone would have been left unturned. Their experience, knowledge and skill set are second to none.

As at Gedabek Aaz are implementing an aggressive 18mths exploration programme across the licence areas of Conroy with targets already identified. Worth bearing in mind the nose of Stephen Westhead in locating potential targets.

And with the prospect of a 55% stake Aaz have certainly chosen well. As already mentioned, expecting to walk into an oven ready joint venture is pie in the sky.

[sharekitchen1974] 21/7/2020 17:53

A (JORC 2012) estimated resource of 320,000 Oz Au Indicated, 197,000 Oz Au Inferred (517,000 Oz Au) at an overall grade of 2 g/t Au has been established on a fraction of one of the gold target areas (Clontibret) with the majority of the drilling to date to a depth of less than 200m and a maximum depth of 350 metres. The deposit remains open in all directions as well as to depth and excellent gold intersections, e.g. 16.6m at 6.5 g/t Au, have been recorded outside the current resource area.Sounds pretty good to me, AAZ obviously feel confident of the same

[sharekitchen1974] 21/7/2020 17:47

A (JORC 2012) estimated resource of 320,000 Oz Au Indicated, 197,000 Oz Au Inferred (517,000 Oz Au) at an overall grade of 2 g/t Au has been established on a fraction of one of the gold target areas (Clontibret) with the majority of the drilling to date to a depth of less than 200m and a maximum depth of 350 metres. The deposit remains open in all directions as well as to depth and excellent gold intersections, e.g. 16.6m at 6.5 g/t Au, have been recorded outside the current resource area.Doesn't sound that bad to me, AAZ obviously feel confident

[saturdaygirl] 21/7/2020 17:30

More of the same ?

[ptolemy] 21/7/2020 17:03

For the last year, I've consider the political risk of operating in the sole jurisdiction of Azerbaijan as the greatest risk facing investors.

Ptolemy - 05 Jun 2019 - 22587 - I think it is naive not to mention the greatly increased political risk to the AAZ PSA that would accompany the impending global turmoil.

Ptolemy - 29 Apr 2019 - 21195 - If I was a senior Azeri official today's news would make me take a long hard look at the terms under which Azeri resources are being exploited. I consider this political challenge the biggest risk facing AAZ.

I would argue that today's news bears that out. From an operational view the venture with Conroy makes no sense. No sense. The resource in Azerbaijan is world class and would keep management busy for a decade or more. The month's of negotiation with Conroy has diluted management attention from Azerbaijan, as will the logistics of moving back and forth between Azerbaijan and Ireland.

No, the reason for today's news, I surmise, is to broaden the jurisdictions in which AAZ operate to try to diminish the unwanted attention of malicious factions in the Aliyev government. The Azeri consultations with NY consultants may bear this threat out. Though most of you refuse to see it as threat, Aliyev was named 'Corrupt Person of the Year' some years ago and the country ranks as number 163 out of 180 countries in the World's Press Freedom Index.

Today's news gives AAZ an international footprint, and all the scrutiny and media attention that goes with it should the Aliyev regime turn the screws. Operationally the JV makes no sense, politically AAZ management may just have taken an important step to save the company from the corrupt regime.

I continue to hold a small amount of AAZ because the story --could-- be such a good one.

[wanobi] 21/7/2020 16:57

AAZ -

Cheers
Wan :-)

[stevea171] 21/7/2020 16:50

GF1. I don't remember you posting here 12 months ago.
Probably I am mistaken?

Edit. GF1. I see you've been a member of ADVFN since October last year.
Explains a lot.

[celeritas] 21/7/2020 16:34

As evidenced with the share price movement in Conroy, I guess C19 scuppered it but it certainly looks like insiders knew looking at the movements.

[brasso3] 21/7/2020 16:33

AAZ first approached them a few years ago and there have been several site visits over the last 12 months. AAZ clearly done their background on this!

[stevea171] 21/7/2020 16:32

GF1. How long have you been in AAZ?

[wanobi] 21/7/2020 16:29

hi kk, I suppose on reflection, with my inexperience I was drawn to the simplicity of the situation,,, there's a load of proven reserves in the ground, in a safe jurisdiction,,, the explorer cannot get it out, but AAZ can,,, financial amounts seemed tiny etc etc,,,, without fully understanding the difficulties in doing that, as you and others have alluded to.. :-) hmmm Cheers Wan :-)

[celeritas] 21/7/2020 16:24

Conroy Gold and Anglo Asian Mining to accelerate mine development at Clontibret following new deal

[stevea171] 21/7/2020 16:13

If one party is buying where is the holding RNS?
They must be above 3% by now.
So are they waiting until they get to 10%, 20% before any notification to the market?
Doubt it.
The share price doubled, tripled mid 2018 to mid 19. So it outperformed.
Now it is standing still. But if you average it out, the 2 year rise is 250%.
Not bad.
If you were in at 40p you've done well.
If you bought at 140p last year, alternative investments have done better in the main.

Swings and roundabouts ......

[traderglt] 21/7/2020 16:12

Don't buy back, just raise dividends

[2sporrans] 21/7/2020 16:05

.....and note that TSG/CEY/SHG/HUM aren't shooting up today; HUM up a bit, CEY down 2% or so, other 2 gone nowhere.

These AIM miners are volatile stocks and who can possibly divine what expectations other investors or traders entertain nor the extent to which their decisions may be emotionally driven.

[the stigologist] 21/7/2020 16:02

At least Ireland aren't at war with the neighbours (at the moment)

[waterloo01] 21/7/2020 16:00

I hope they have picked up a decent resource cheaply, but Conroy has such a poor reputation for 'blarny' it's hardly surprising the market is bla

[inaminute] 21/7/2020 15:59

I do not recall seeing anything saying this was the only deal AAZ doing. This was the first they have RNSd. Given the terms I have nothing against this one but I am not treating it as the final chapter.

[leopoldalcox] 21/7/2020 15:57

Presumably they can, beaujolly, but the most important thing to me is to shore up the reserves for the next 5 years.That's probably going to be in the next RNS. We should be due a JORC update in the next month or two.I can understand why people are selling. I continue to hold

[2sporrans] 21/7/2020 15:57

I'm of similar mind qaz

For me, the JV is a tray of seedlings; there's a whole allotment to contemplate.
The H1 Explor/Dev [by end July], then at last, the JORC update [within Q3 hopefully]
are critical newsflow.
Particularly how they tie in with the move underground.

I've not felt the urge to either buy or sell on the JV news, interesting though it is.
If i do top up [if share price drops a bit more] it will be because i think the odds are that
the H1/JORC news will at least be supportive of the underground production to come and
to continue for several years - or more.

There's potentially so much more from it, as we all surely know here.
Avshancli-Gilar, Ugur deep, Gosha extension, Zefer, Zehmet etc on PSA area extension[s].....Ordubad.
And so little priced in.