Anglo Asian Mining Share Discussion Threads

[jbe81] 23/7/2015 09:44

Cash is obviously tight. But the board are Reza have shown their faith in the company going forward. The last quarter results showed the start of a turn around, hopefully onwards and upwards.

[celeritas] 23/7/2015 09:24

The mkt is the mkt right or wrong you just need to be on the correct side.
I can't say I positive about the news yesterday as it shows cash must be tight, on the plus side maybe it gives reza more room to buy the overhang out given the higher share float. The gold price is obviously the main issue followed by the fact no-one seems to know the all in costs.
I'm not a holder by the way, just giving a outside opinion.

[jbe81] 23/7/2015 09:19

Think yesterdays runs is a big vote of confidence from the directors. We have already had one from Reza, think this is a very good level to buy at.

[wigwammer] 23/7/2015 09:09

"the market is rarely wrong"Really?

[wigwammer] 23/7/2015 09:07

Derrr.The market knows the pog has fallen.Haven't you?

[resourceful] 23/7/2015 08:08

the market is rarely wrong
someone knows something

[brasso3] 22/7/2015 22:39

We obviously know that the operating costs in the last year went up for AAZ for various reasons. If we look back though there were times when they were much more competitive:-

20th Jan 2012 (Final Results)
"Produced gold at an estimated average cash operating cost of US$450 per oz of gold including the Government of Azerbaijan's share for FY 2011 and US$535 per oz of gold net of the Government of Azerbaijan's share for FY 2011."

26th Sept 2013 (Interims)
"Produced gold at an average cash operating cost of US$564 per ounce of gold (H1 2012 US$767 including the Government of Azerbaijan's share."

30th June 2014 (AGM Statement)
"In addition, despite processing costs being higher than originally expected we reported a cash operating cost of US$626 per ounce which is still relatively low compared to the Company's peers."

23rd Sept 2014 (Interims)
"Produced gold (including the Government of Azerbaijan's share) at an average cash operating cost of US$1,014 per ounce of gold (H1 2013: US$564)."

[mattjos] 22/7/2015 22:09

They did this in 2009/10 for the directors and some contractors bills also, as I remember.

[brasso3] 22/7/2015 20:27

Well if they do not sell the shares in the next few days we will know that they see them as good value.

[mozy123] 22/7/2015 20:14

directors expenses and wages paid in new shares - good that the directors are saving the company cash, but things must be tight since they are doing it.

[giantpeach2] 22/7/2015 20:12

How many months has this been going on for???? or is this thr first.

[brasso3] 22/7/2015 18:23

Khosrow Zamani 666,406 (£41k)
Richard Round 152,801 (£9.5k)
John Monhemius 157,845 (£10k)

Not sure what this is about either way its small money.

[celeritas] 22/7/2015 16:01

Anglo Asian Mining PLC

22 July 2015

Anglo Asian Mining plc / Ticker: AAZ / Index: AIM / Sector: Mining

22 July 2015

Anglo Asian Mining plc

Issue of Shares / Directors Dealing

Anglo Asian Mining plc ("Anglo Asian" or "the Company"), the AIM listed gold, copper and silver producer focused in Azerbaijan, announces that it has issued a total of 977,052 new ordinary shares of 1 pence each ("New Shares") to certain Directors of the Company in lieu of remuneration and expenses due for the six months ended 30 June 2015.

The New Shares were issued on 22 July 2015 at a price of 6.19p per share, such price being the weighted average of the total remuneration and expenses due to each director below at the end of each month divided by the closing mid-market price on the last trading day of each month.

The shares issued to each director is as follows:


Director Number of Total Interest Total interest
New Shares in ordinary in ordinary
issue shares following shares as
the issue a % of enlarged
of New Shares issued share
capital
Khosrow Zamani 666,406 1,259,590 1.12
Richard Round 152,801 306,759 0.27
John Monhemius 157,845 342,643 0.31

The New Shares will rank pari passu in all respects with the existing ordinary shares of 1 pence each in the Company including the right to receive any dividend or other distribution thereafter declared, made or paid. Application has been made to the London Stock Exchange for the New Shares to be admitted to trading on AIM ('Admission'). It is expected that Admission will become effective and that dealings in the New Shares will commence on 28 July 2015.

As a result of the issue of the New Shares, the Company's issued share capital now consists of 112,661,024 ordinary shares of 1 pence each.

[jbe81] 22/7/2015 12:47

Agreed Wigwammer.

But a sub 6p is worth a chance, significant upside.

[wigwammer] 22/7/2015 12:33

"I really dont understand how people on here can be saying that he company is going to be profitable when nobody knows what the cost per ounce is"It isn't about profit - it's about cash flow. That's what pays the bills. While we don't how large the reduction in cost is going to be, we can have a decent stab at a base op cash flow, and work from there.Last year they earned pre wc operating cash flow of $10m, at a realised pog of $1214. The fall in pog to $1090 implies a reduction in annualised op cash of circa $8.7m - which would take the annualised cf to roughly $1m. This is offset by the manat devaluation, which adds $6m.Outcome is a base $7m annualised op cash flow - enough to fund the debt and likely maintenance capex, and not materially different from last years outcome.From this base we then consider the unquantified cost savings. The key point being whether they are $100 per ounce or $300, the company will be paying down debt at a substantial rate even at the current pog. Of course the pog may fall again and eat into those savings, but I suspect it has to fall quite a long way before they are unable to fund the debt.The valuation is already pricing in a slim chance of survival - but working the numbers appears to suggest otherwise.

[jbe81] 22/7/2015 11:52

got some more in 2 lots, only 40000 more sold that bought, great opportunity.

[mattjos] 22/7/2015 11:30

stupid price so had some more

[jbe81] 22/7/2015 11:27

Cant buy any at 5.5p, so not sure the market does know anything

[yangou] 22/7/2015 11:20

Don't look down

[resourceful] 22/7/2015 11:10

the market is rarely wrong
someone knows something

[jeanesy2] 22/7/2015 10:44

Lots of small sales today, must be because of fall in POG below 1100. I really dont understand how people on here can be saying that he company is going to be profitable when nobody knows what the cost per ounce is?! Without that information , even though things appear to be looking up here, then I cant see how some can be so optimistic here. I have followed this share for years, luckily i got out before the savage markdown and i have been tempted to get back in but until the cost per ounce is known i will remain out for now!

[wigwammer] 21/7/2015 11:35

"Even with POG at a recent low, we look to be seeing a 2015 profit of US$20-30,000,000 at this rate (similar range to 2010-2012)."I would love that to be true, and indications are that net debt is now falling. But not at a rate that suggests $20-30m for 2015.

[wigwammer] 21/7/2015 11:33

"Maybe Bashirov has only stopped selling because nobody is buying?"Then the shares would still be at 4.88.

[wigwammer] 21/7/2015 11:31

Then the shares would still be at 4.88.