Anglo Asian Mining Share Discussion Threads

[zhockey] 11/2/2016 15:27

Resourceful, how many you have to sell?

[ilostthelot] 11/2/2016 14:48

Indeed. Another few like that and the offer will be over 7p

[jbe81] 11/2/2016 14:45

nice 100k buy

[ilostthelot] 11/2/2016 14:41

Gold fever is back!

[bleepy] 11/2/2016 13:52

FYI

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.


Exchange rate was set at 1.5745 manats/$1 today. Update due and could arrive anytime soon.

[gary38] 11/2/2016 13:36

Not many gold miners left with this much upside ;we are in before the herd.

[terropol] 11/2/2016 13:30

Mattjos, Now we will see if Cantors were short...if yes we should fly to about 30-40p
Gold should get to about $1500, that will do us just fine.

[zhockey] 11/2/2016 13:12

Happy now? :)

[mattjos] 11/2/2016 13:11

Cantor pushing again, looking for a seller

[jbravo2] 11/2/2016 13:07

Nice day for gold.
Agree On Target, the opportunity to win big here is immense. I hope to make a very very large six figure sum.
Still the single most reassuring thing about AAZ is Reza owning 30% and the fact he backed that up by lending $4m

[gary38] 11/2/2016 12:46

Gold 3.2% a rush for gold safety

[on target] 11/2/2016 12:45

Thanks for the explanation wilk.

FWIW as an investor (someone who is willing to hold a stock more than a week and through any short-term ups and downs) I'm hoping to make significantly more than £8-10k here.

[gary38] 11/2/2016 12:44

Looking good as price moves up .

[catsick] 11/2/2016 12:42

Gold 1234.5 ?

[wilk1] 11/2/2016 12:41

Yes I do but I'm a trader as opposed to an investor, it suits my strategy. I was here about 6-7 yrs ago from around 28p upto 70p. I remember one xmas, the price went berserk and I was fully loaded I made around £8-10k from memory. I was on an amazing run then with PTR/BAO and AAZ I was in BAO from 13p all the way to the mid 50's and bought 70000 PTR at 31, a week later they were 40p and went upto mid 50's gosh they were great days. Those 2 came all the way down to 5p and 2p. Sorry for o/t.

[on target] 11/2/2016 12:12

You don't think this is undervalued even without the current gold price increase then wilk?

[jbe81] 11/2/2016 12:12

Bizarre that people are worried by .5p here and there considering the upside

[jbe81] 11/2/2016 12:11

gold over $1200 and manat devaluation should put share price at 15-20p. Considering where it was before.

[mattjos] 11/2/2016 12:08

relatively muted response to the price of gold all over today actually. HOC & FRES are often the leaders.
Likely a lot of folk sat there in bewilderment and still not believing what they are seeing or when it's going to re-trace.
Having spend a couple of days hovering just below 1200 & now smashed through it, one would now think that 1200 is a level for support on any re-trace.
1200 for AAZ, coupled with the Manat devaluation is like 1300

[wilk1] 11/2/2016 12:04

No the lack of interest is holding me back. Online spread for 50k is 5.8/6.22 I'm tempted but don't want to be left holding the baby if gold price comes off.

[jbe81] 11/2/2016 12:01

wilk did you get your 50k?

[jbe81] 11/2/2016 12:01

should be a good afternoon for aaz, if someone wants 450k shares not sure what they are hanging around for!

[wilk1] 11/2/2016 12:00

Why no buying here, gold price is going crazy ?

[jbe81] 11/2/2016 11:58

gold absolutely flying!!