Anglo Asian Mining Share Discussion Threads

[brasso3] 22/12/2015 02:16

With operational costs coming down to $500 - $600/oz, production at around 70,000oz, gold at $1080 and our debt level at $50m we in a better position than in 2010 when the share price started its rise to 80p. I should remind all that the same number of shares were in issue then too.

[terropol] 21/12/2015 23:33

Currencies crashing round the world... The dollar can not be king....with no one to deal with. Can it keep going up? I say not for long....
GOLD with be the trading KING.
I know I keep saying it... I am confident that will be the case.

And to finish off, MERRY CHRISTMAS to you all on this tread.
Lets all have a jolly rewarding 2016...

[mattjos] 21/12/2015 22:50

we've been bouncing off a base of 4.25p for virtually the whole year now .. during which time the position of the company has strengthened considerably more so than the decline in the price of gold. A rise and subsequent creation of a new base at 8p would certainly help give an emergent uptrend some visible definition & could hardly be called an aggressive price target given the lowered cost of production and increased rate of production

[brasso3] 21/12/2015 21:16

I would expect further gains tomorrow as this currency devaluation news sinks in. The market can be slow to understand good news where as it reacts quickly to bad news. Fear is stronger than greed as they say.

[mattjos] 21/12/2015 20:47

very interesting article this:



"It is clear for everyone who follows the news that in terms of increasing geopolitical competition with Russia, the US chose the policy of weakening the opponent's economy by artificial impact on the oil prices on the world market. First, the US took control over OPEC and limited the opportunities of the organization in decision-making on oil prices by various ways. Afterwards, the US lifted a 40-year ban on the export of American oil."

The House of Representatives supported a bill to lift the ban amid the rapid reduction in oil prices on the world markets, Hasanov said.

"This decision can not be explained by the laws of the economy," he said. "The US began to sell oil when oil prices reached a record low level - $37 per barrel. They didn't do this when oil prices were record high - almost $150 a barrel."

Of course the govt will be looking for some plausible external reasons as to why it has had to take this course of action but, they do rather have a point.

The evidence for a USA v Russia/China financial war is becoming increasingly obvious.
At some point Gold is going to come into play ... likely just after China reveals the true extent of its Gold holidings as a precursor to a full-scale assault on the US$. I cannot believe they will allow the USA to lead us all, unchallenged, in to yet another financial crisis off the back of their addiction to debt.
could be an interesting 2016 !

[ilostthelot] 21/12/2015 16:55

Good news that is . With the long term chart right on resistance this could well be enough to see the Share price closer to 8p to start with. Think I'll buy a few tomorrow, its been a while.
Two nice white candles on Gold as well that's due a decent move up over $1100.

[mattjos] 21/12/2015 16:47

something has to give here soon because the chart suggests a major inflexion point is imminent


free stock charts from uk.advfn.com

[jeanesy] 21/12/2015 16:03

A few more buys coming in now. 5p finish would be nice please.

[mattjos] 21/12/2015 15:47

Some of these emerging market countries are getting completely screwed.
Argentina and Azerbaijan citizens within a few days of each other have had 50% of their wealth wiped out overnight. Same for Russians last year. Brazilians have lost near 40% this year. Kazakhs have lost 50% since September

They've used up their central bank firepower trying to defend their currencies and then given up and let their currency float.

If the FED progress with rate rises next year (as theorised) & liquidity continues to be drained from the system, the US$ is only going to go one way and coupled with the weakness in Commodities and Oil, that pain is only going to get worse for the EM's.

Soon inflation in these countries is going to catch light like a forest fire. The combination of a weakened currency and rampant inflation is going to persuade a lot more people to seek an alternative store of wealth to that supposedly offered them in the form of paper currency.

What we are witnessing now are but the opening scenes in an unfolding drama .. the likes of which may dwarf anything we've seen before, imo.

President of Az needs to hurry up and award Reza & his team some more gold properties that they can get on with it & quickly! He and his team have repeatedly demonstrated they can consistently get the stuff out the ground and must be seen as the strongest in-country candidates.

[jbe81] 21/12/2015 15:28

Gold going up too

[jbe81] 21/12/2015 15:27

RNS has only just appeared! Not suprising

[brasso3] 21/12/2015 15:27

Nice to have it in black and white from the company.

[jeanesy] 21/12/2015 15:26

The news is still not registering with people yet?!

[on target] 21/12/2015 15:25

Costs and overheads significantly reduced... hmmm yes I think it might be?

[hedgehog33] 21/12/2015 15:23

Good news..... I think..?

[mattjos] 21/12/2015 15:15

21 December 2015

Anglo Asian Mining plc

Floating exchange rate regime announced and devaluation of the Azerbaijan Manat

Anglo Asian Mining plc ("Anglo Asian" or the "Company") is the AIM listed gold, copper and silver producer focused in Azerbaijan. Note that all references to "$" are to United States dollars.

The Government of Azerbaijan announced today that it had switched from a fixed to a floating exchange rate regime for the Azerbaijan New Manat ("AZN"). The Azerbaijan central bank today quoted an exchange rate for the Azerbaijan New Manat of $1 equals AZN1.55 versus the previous rate of $1 equals AZN1.05. This is an effective devaluation of approximately 48 per cent.

A substantial portion of the Company's operating costs and overheads are denominated in Azerbaijan New Manats whilst the Company's revenues are all denominated in US dollars. This move to floating rates and the associated devaluation, whilst unwelcome for the people of Azerbaijan, will therefore have a beneficial impact on some operating costs and some overheads of the Company. The Company is currently evaluating the effect of the Azerbaijan New Manat moving to a floating exchange rate regime and the effective devaluation on its budget and plans and will update its shareholders as appropriate.

[on target] 21/12/2015 15:11

RNS out. Not showing on ADVFN for some reason.

[jbe81] 21/12/2015 14:20

Jan and Feb could see a major recovery in the share price for AAZ with a bit of luck. Things are looking good going forward.

[brasso3] 21/12/2015 13:20

The forward looking statment in the end of year results should be a pleasant read now. Roll on the 15th January...

[jeanesy] 21/12/2015 13:08

I too would have expected more of a reaction. Still i am happy to wait for sentiment to change here as hopefully things should look up soon. I would like the seller whoever they are to finish so we can move progress upwards with the share price.

[mattjos] 21/12/2015 12:54

a month now since the first shipment of wet concentrate from the new plant. They should now be shipping the initial 150t per week target with more to come as they wind up the plant

[brasso3] 21/12/2015 12:50

Traders react to news that is delivered by RNS. The news today presents a great opportuntity to invest further in AAZ. The major risk has now been removed. AAZ can service its debt with a gold price as low as $800 now.

[mattjos] 21/12/2015 12:46

if Gold had leapt to $1200 today, I suspect the share price would have reacted rather more vigorously than we have seen thus far but, in effect, this what has happened for the company

[mattjos] 21/12/2015 12:43

:-) .. should certainly enable them to get the (as yet unused but brand new) smaller flotation plant up & running to start processing the Zinc coming from Gadir & to crack on with exploration to expand the Gold resource.

[brasso3] 21/12/2015 12:35

Matt

So you are saying that this cost saving could pay for another floatation plant in 2016? :)