Anglo Asian Mining Share Discussion Threads

[mattjos] 18/7/2015 10:55

Which was that?

[jaspoland] 18/7/2015 09:02

FWIW One free share tip mentioned AAZ yesterday as a buy.

[cordwainer] 16/7/2015 13:55

thank you for that masterly research mattjos.

[mattjos] 16/7/2015 01:18

One of the UK companies that Khagani Bashirov used to accumulate his holding in 2008 was Berkerley Business Ltd (the 31/7/08 RNS showed Berkerley had just over 1m shares, Virgin Developments had 200k & Gerard Marketing LLC had 481k).
The reporting contact was named as Dhirsingh Jodhun with an 0207 London number.

If we dig a little into this we can see that there is a stream of companies that they have both been Directors of, Berkerley Business Ltd being just one.

Most of the businesses (whether or not defunct) had 25, Bruton Lane, Mayfair, London as the Registered Address.

If we check a bit more on Khagani Bashirov, we see he currently has 2 Open Directorships in the UK, being:

Java Investments Management Plc. www.javainvest.com (Registered 25 Bruton Lane, Mayfair. Incorporated Jul 2005)

&

V.E.S Consultancy (UK) Ltd. www.vesconsultancy.com (Registered 25, Bruton Lane, Mayfair. Incorporated Oct 2006)
But the associated website links to VES Consultancy LLC in Azerbaijan
(3, Inshaatchilar Avenue, Baku, Azerbaijan Republic)

If you read the 'Our Partners' section of this site, you will see they advise; "In 2006, a partnership was established with "Java Investment Management PLC" in order to help in the development of national business, to establish access of foreign investors to the country, and to assists the national entrepreneurs to integrate into the international business community. With the support from "Java Investment Management PLC" you can develop your business and implement the formalities abroad, in compliance with standards norms.

You'll see that both company websites have several overseas contact locations including London, Canada, Luxembourg, Kazakhstan & Azerbaijan in common.

Khagani Bashirov has certainly been a Director of a lot of companies in the UK and overseas that have come and gone but, these two companies he has remained at since their inception.
In both companies, Dhirsingh Jodhun is co-director with him.
Ms. Ada Bashirov was also Co-Director with him at Java Investments Management Ltd. from formation to Mar 11.
They have all also been Directors of Camelot Oil & Gas Developments Ltd. registered at .... yup, 25 Bruton Lane, Mayfair so, perhaps the Accountants address for them all or so.
Ada Bashirov is 52 years old so, not his daughter despite the Ms. prefix. Presumably his wife

Anyway, one could go on and on I suspect, finding more and more companies they have been involved in. Java & VES seem the two main ones in the UK.

He looks to be a bit of a player in the area of connecting the £ from London with opportunities overseas.
I cant be bothered to pull their accounts as I suspect they will be pretty meaningless - this chap will know his way around how and what to state on company accounts according to what he wants to achieve, as opposed to plain-vanilla accounts.

Anyway, he is clearly a chap who moves money about internationally according to where he sees an opportunity. He may be a forced seller or, I suspect more likely, simply wants the cash to do something else with it. I doubt he'll be offering up any explanation to telephone callers. Seemingly lives in Luxembourg. 54 years old

[brasso3] 15/7/2015 17:41

A bit of coverage:-

[mattjos] 14/7/2015 16:51

fair point Celeritas .... give him his due though, this YTD, they are bang on target for the production uplift they have forecast.

I assume this is the type of flotation plant that YPT will be installing on site:

[celeritas] 14/7/2015 16:28

If targets hadn't been missed the overhang would have been well cleared by now. But I guess if targets were hit Bash would still be holding wanting a higher price. Either way the current cap is the fault of missing targets, bash selling isn't really the problem.

Reza can steer aaz out of this by clearly hitting targets, cutting debt and increasing the resource size, it's all in his hands, do this and the remnants of that overhang in history will have looked a great time to buy.

[mattjos] 14/7/2015 16:05

have to be patient ccb .. if I were Reza I would be busy trying to find a way to take out the seller in one hit at this level and allow the market to find a more sensible level. They have clearly had some dialogue with him recently to strong-arm him into a declaration .. only 6m or so to move on. £360k is not so much now but, if that does not occur and he is in some way a forced seller then I'm willing to buy some more .. only I'm not paying over 5.5p for them at this juncture. Chart looks to be point to some sort of decision on the price towards back end of August / early September. Interims are 3rd week September'ish

[captain_crash_and_burn] 14/7/2015 15:46

I don't want it any lower, I am not buying more!

[mattjos] 14/7/2015 15:25

seller still around & on that basis no one will be keen to take on any more stock until we see 5-6m got rid of to signify Bashirov has cleared out.
Lets hope he drives it back to 5.5p again

[captain_crash_and_burn] 14/7/2015 14:04

How is this falling after that update, very disappointing

[cordwainer] 14/7/2015 08:17

r u saying there would be demand on level 2 except that there's no supply ?

[mattjos] 14/7/2015 00:32

Bashirov used a number of companies to go about building his stake, seemingly undetected, during late Autumn 2007 --> Summer 2008 & I cant see any mention of him prior to his first Holdings RNS on 18th June 2008 but there were a couple of noticeable volume spikes in that period and some II's who cleared out (Pendragon was one).
So, it looks like he bought in around the 8p mark for the bulk of his stock.
That might now be why there is resistance at this level if, despite his good selling average to date, he doesn't favour selling any individual shares below that level.
Guess it depends on how desperate he is for the cash ... certainly his lack of disclosure on the way in to the stock and his reluctance to disclose on the way out, suggests he could not give a monkeys about rules on AIM.
Who can blame him? No one ever enforces any of them

[terropol] 13/7/2015 23:02

The company looks to be back on track...
I should think the all in costs for the year will drop quite a bit. 800 dollars x oz would be nice.Giving us about 25$ free cash flow for the year. more that 2 times the market cap.
Next quarter should be very exiting!
I keep adding when i can.
See how we go.

[brasso3] 13/7/2015 18:50

With the capital expenditure out of the way they should be able to pay debt off at $750k - $900k a month now comfortably. Any additional production from the flotation plant could significantly bring the overall costs per ounce down.

[mattjos] 13/7/2015 18:44

Yup, that's approx what I had assumed, starting end Q3. The three main unknowns remain ... Bashirov's intentions, how the new plant (once commissioned) will affect the overall financial metrics & results of exploration. Accounts are backward looking and so the benefits of the PSA (with regards treatment of capex) will not show through until next FY figures but, by then we'll have a clearer understanding of how the company is able to maximise their production based on having the three recovery processes available, according to the ore encountered.

[brasso3] 13/7/2015 18:29

So now that expenditure is nearly finished there is an additional $500k a month they can put towards paying off the debt.

[brasso3] 13/7/2015 18:28

Ignore the above!

Flotation plant

· Planned flotation plant will act as a pilot plant to assess future full-scale copper production and will initially process 379,000 tonnes of stockpiled high copper content sulphide ore to produce a copper and precious metal concentrate
· Flotation plant will operate alongside Gedabek's existing agitation and heap leaching operations which produce gold and silver; and the SART plant which produces copper concentrate
· Contract placed for up to US$2.7 million for the turnkey construction of a small-scale flotation plant with a capacity of 20 tonnes per hour of ore
· Scheduled total capital cost including capital works and ancillary equipment estimated at US$3.5 million

[brasso3] 13/7/2015 18:26

Matt

Can you recall what the estimated cost was for the flotation plant? I cannot find the information.

[mattjos] 13/7/2015 18:19

nice update seems to have been mainly ignored . I suspect people looked at the headline % gain at the open & decided to leave it alone but, in reality that was a mark up from a daft end of day auction in Friday that settled at 6p on 35 shares!$3.5m off the debt since 31.12.14 .. The mkt cap has increased approximately pro rate the rate of debt reduction in that timeframe so, the market not yet looking forward or ascribing any additional value whatsoever to the assets & improving operational performance which the debt has been used to acquire.The period of high CAPEX is about to end and one would expect to see the company focus on cash generation and debt reduction. The return of the Technical chap seems have had an immediate improvement on the recovery rates which I assume will continue going forward

[jeanesy2] 13/7/2015 14:22

Quite a few selling despite the good news. POG is not helping here.. seems destined to drop below 1500 which will not be good for the bottom line. What are the current costs here?