Anglo Asian Mining Share Discussion Threads

[mattjos] 17/10/2016 22:03

fwiw, it looks like a near perfect 20-week C&H formation on the chart.

Above the 200Day SMA? Yes
1-6 month formation? Yes
Equal highs on either side of the Cup? Yes
Early in stages of an emergent uptrend? Yes
An increase in volume as the handle pattern completes? Yes

Pattern destination is circa 24p for the next consolidation phase, imo

[bleepy] 17/10/2016 21:52

New Gold Discovery at its Gedabek Licence Area...snippets from rns

* Ugur provides significant potential upside to the Company's future gold production.

* the discovery of the Ugur deposit has the potential to add significantly to our gold resources and reserves and hence our future production at Gedabek

* Anglo Asian is now well positioned to expand its mineable reserves which will lay the foundations for long term and sustainable production from multiple deposits at Gedabek

* This is an exciting time for the Company and I look forward to updating shareholders on our progress as we look to unlock the potential from this new target and increase value for our shareholders in the process.

* Anglo Asian Group Director of Geology, Stephen Westhead, said "This prospect is very exciting given its close proximity to the Gedabek processing facilities and the initial positive drill and metallurgical testwork results. We look forward to continuing exploration work with a view to enlarging our gold and copper resources and reserves for extending or increasing mine production".

* These drill results continue to expand the resource potential at the Gedabek Licence, and the Company is encouraged by the positive findings at the Ugur deposit.


* The area has only partially been drilled and initial field mapping suggests that the area is open along strike. Further detailed geological structural and alteration mapping has started and additional trenching is also planned this year.


* A further geological exploration target has been defined in the expanded Ugur area based on similar alteration and geomorphological position to the Ugur deposit that is located about 1,500 metres to the south of the current Ugur RC drilling area.

[mattjos] 17/10/2016 21:03

Give it time. share price Angel need to get a note out ... they are very conservative in their coverage & likely just say "how they look forward to further details" etc etc but, they can't ignore the potential for LOM extension & the suitability for both near-term & low-cost processing.Since this appears to be an extension of the existing Gedabek resource, that will remove the necessity to file with Az state for 'Notice of Discovery' & 'Application for new mine' .. the current arrangements in place for Gedabek should cover extension of known mineralisation & proximity to existing processing assets, should not immediately require any new processing assets.At this stage it appears to be a near-surface ore amenable to heap-leach for Au & Ag. At 1.5km distance it can be transported by conveyor or truck.

[saturdaygirl] 17/10/2016 20:33

jeansey

Its the metals that are under pressure not the miners but one without the other won`t go ..

[jeanesy] 17/10/2016 20:21

Truely pathetic rise based on todays news. Not really sure what is going to move this upwards if todays news is treated with such distain. Still you can now buy at just over 19p . I hope it stays at this level as i might be able to buy some more next week. The MM's have played a blinder again . I thought there must be some big sells around when the price didnt move earlier. Why anyone would want to sell after todays news is beyond belief. But hey ho !

[cyberbub] 17/10/2016 19:30

The main 'external' difference between 2011 and now is the gold price. Personally I think gold will have to break out above the resistance point of $1370 for us to start to see 50p and then 80-100p... but it's entirely possible that we might get that breakout in the next few months... Who knows...GLA NAI

[cyberbub] 17/10/2016 19:27

Mattjos, and don't forget the absolutely critical point, which is so rare to find in small miners which have been struggling financially: *no dilution* for the last 5 years!!

[mattjos] 17/10/2016 18:20

This is eerily similar to the last time it went up to 80p.Beforehand the company was just making profits and we were waiting on resource upgrade from Gedabek.The price hovered just below the 20p until the news same out and then the share price broke that 20p ceiling and rocketed away.The company is now so much more valuable on an asset basis, on an operational basis and on a human resource basis.Reza has made it about as clear as the nose on his face that he is determined to create and enhance shareholder value as a consequence of the exploration and drilling now under way across several fronts. I've no idea which of these will prove the catalyst for the market to finally value this sensibly but, I think we all agree that the catalyst is now not far away ... this time we have no Bashirov on board either. Pivotal time in the company development

[csmwssk12hu] 17/10/2016 17:47

I don't think it mattered what anyone said today I think the market had Monday blues, there was a few stocks that put out good news today and either flat lined or went backwards so a rise is not so bad even though not as much as I thought it would be

[zhockey] 17/10/2016 17:35

Reading again they seem to suggest another potentially similiar deposit has been found 1500m away and also we have Bittibulag that they seem excited about. Not to mention the Gedebek pit open at depth and Gadir. This could be about to get very interesting!

Especially as I would say the share price has zero exploration upside priced in.

[zhockey] 17/10/2016 15:49

Catsick, I think you might get slightly ahead of the drill-bit there, they have only drilled 300m?

[catsick] 17/10/2016 15:23

This new ore is not going to need anything significant in the way of capex, its right on the surface 3kms away, they have all the grinders trucks and plant they need, just dig out the 5g a ton stuff first and load it onto the heap leach and off you go for 10 extra years, the capex will be an issue only if the other sites they are looking at throw up millions more easy oz, but by then the 20m market cap will be a distant memory ....

[mattjos] 17/10/2016 15:18

zhockey, by that we mean that 100% of the interest on the debt is offsettable against the PSA

[zhockey] 17/10/2016 14:01

The PSA is not tied to debt, it's tied to expenditure.

[jbe81] 17/10/2016 13:58

Hadn't looked a the page view counter for a while, looks like there are a few new readers, just need more new posters and investors

[mattjos] 17/10/2016 13:53

spot on Cannon ... at least some of us here 'get it' ... the growing share price is attracting plenty of new readers to the thread & investors in the stock but, some of them still don't seem 100% au fait with the PSA and how it works.

[cannonfodd3r] 17/10/2016 13:50

Or in laymans terms, zero debt means 50/50 share, not the current 85/15 or whatever it is close to that figure

It would be like leaving the credit card maxed to pay off the student loan!

[cannonfodd3r] 17/10/2016 13:46

can I take this opportunity to spell this out clearly

THEY NEED TO BE IN DEBT TO STOP THE PSA KICKING IN, it's in the companies interest to NOT CLEAR THE DEBT!

The debt was large granted as they spent a fortune on processing plant and a literally massive tailings dam for the sulphate ore, this is the copper rich ore Siemens were after for the early telecoms networks, the oxidated ore can be easily processed by heap leaching and cheaply, it was always assumed this extended all around the site however I think distractions were had by chasing the more complex multi metal body.

This news just proves the ore the mine was founded on extends over a much greater area, all they have to do is dig and dump it on new leach pads, then focus on two different ore bodies seperately which they are now set up to do.

All in all, great news as the new area is probably not much less than where mining has traditionally taken place

[brasso3] 17/10/2016 13:27

Getting the resource up to 2m oz should be seen as the priority and keeping debt around $25m - $35m until the market cap increases.

[mattjos] 17/10/2016 13:24

appears close enough to consider using an inexpensive elevated conveyor system to bring the ore directly to the existing processing equipment at Gedabek .. be that leach or agitation

[zhockey] 17/10/2016 13:22

I don't know why folks obsess about clearing debt. Debt needs to be seen in context, if they raise $50M debt to develop 1Moz of gold for a return of $500M then that is a cracking investment.

The debt here has saved investors from massive dilution, including the $4M from the CEO. The debt is a positive IMO and not the millstone many here make out.

[goodgrief] 17/10/2016 13:12

Hardly, they've already spent on the infrastructure...

[bsg] 17/10/2016 13:11

Might even make debt go up?

[brasso3] 17/10/2016 13:04

They do not need to completely clear the debt if the resource and production is increasing.

[bsg] 17/10/2016 12:55

Probably going to slow debt repayment back if spending on new resource?