Anglo Asian Mining Investors - AAZ

Anglo Asian Mining Investors - AAZ

Stock Name Stock Symbol Market Stock Type
Anglo Asian Mining Plc AAZ London Ordinary Share
  Price Change Price Change % Stock Price Last Trade
0.00 0.0% 81.00 00:00:00
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Posted at 24/11/2022 10:47 by riggerbeautz
Remember trading ZIOC, those early year investors need to have topped up if they held on. Looks like it’s turning up from multi year lows now.
Posted at 23/11/2022 11:13 by wanobi
only that after announcing as per DP's post today;

"The board believes that the market capitalisation of the Company does not fairly reflect its underlying value and that its ordinary shares are undervalued. The board would also like to increase the number of institutional shareholders in the Company. The board therefore believes it beneficial for the Company to purchase its own ordinary shares in the market. These ordinary shares acquired by the Company will be held as treasury shares and be available for resale. This will enable the Company to accumulate blocks of ordinary shares significantly large enough to be attractive for sale to institutional investors."

they came out and stated on an RNS sometime later that they would be buying back stock on an opportunistic basis,,,

so I'm putting 2&2 together I suppose,, but, I try to read between the lines as much as I can and doing that in this situation says to me that they have had discussions with shareholders about it!!!

I may be wrong in that belief GG,,, but, that's where I am with it.. :-)

Wan :-)

Posted at 23/11/2022 10:19 by donald pond
Well I wrote to Bill a year or so ago and offered to help with their PR/IR. And I got a one liner back to the effect that they prefer to do it themselves. It must be nearly 2 years since they said they were working on revamping their website. Keeping shareholders up to date and attracting new investors is just not a priority for the company. Which is sad, but as long as the board own 40% and the dividends keep coming, I believe it will come good.
Posted at 20/11/2022 01:24 by zangdook

I presume your comment was intended for the earlier posters whose views I was summarising? For myself, I trust the management to dig stuff up and sell it and keep the company running, and for the potential growth in that business I have a large stake here. The size of my stake demands that I keep a close eye on peripheral areas too. I observe that there has been some funny business wrt SPA and the buyback, and while I don't think either broker relations or share buybacks are central to the company's operations, any sort of funny business is cause for concern.

I also use these boards as a sort of aggregator of investor confidence, and the repeated assertion by multiple posters that the buyback is not running for reasons entirely different from those stated by the company, which carries a clear implication that some investors feel the board are lying, is a further cause for concern.

The buyback so far has cost under £150k, so it's not a major issue in cash terms, but the notion that the board may not have been straightforward with shareholders about a minor deployment of cash raises questions for me about other non-core uses of cash, in particular Libero.

So, from my point of view, there are some small red flags starting to pop up, but I won't divest until I see a risk of contagion with the core operations. Others will have to form their own opinions. I suspect some posters are asserting superficially sensible reasons for the non-buyback (share price will go lower / close period / better uses for cash / different opinions in the BoD etc etc) simply to avoid looking at the elephant in the room, which is that we can no longer rely absolutely on company statements.

Posted at 04/11/2022 09:18 by cinoib
Iknocker, I got it right on the downside almost 2 years ago and no one believed me then, bar one. Now is the time to buy, so fill your boots. Yes I know there is a lot of miners telling tales in order to keep you invested and then they fail, like Hum and Rmm. No one believed me there either, they all kept buying and now they are in tears wondering how they are going to tell the Mrs how much they have lost. Years of experience and lost fortunes make you a mush wiser and more cautious investor.If some of the children on here had taken note when I sold, they would now have 3 times as many shares as they have. Buy low and sell high a very old and usefull motto from very wise long term investors. Warren Buffet
Posted at 28/10/2022 10:06 by lloydypool
‘The Vasseti Group was sold to investors as an opportunity rarely seen since the likes of Microsoft. Sold to investors as a premier group of companies made up of mergers & acquisitions, listed on the Frankfurt Stock Ex. and backed by Tan Sri Syed Yusof Nasir, what could possibly go wrong... The reality turned out to be very different. Theft, fraud, deceit, lies and unimaginable greed, eventually led to all investors losing their entire investment.’

Written 6 years ago about Vasseti … hopefully won’t be repeated in the near future about TETE.

It will be interesting to see if MBO’s sale of assets a) goes through and b) if it goes through as cash. I suspect if it goes through they will change the terms for a greater amount but to be paid in shares of TETE.

Posted at 15/9/2022 08:16 by lloydypool
At the risk of being laughed at by the doomsayers on here, I actually think there are some really good signs from that update (apart from the sad news about the death of an employee).

I guess it is not surprising that the lack of updates and signposting in detail the costs of the new areas, how much they are expected to produce and when they are to come on line and the strange approach to the buy back, have all contributed to a lack of confidence. My judgements is that this is all symptomatic of a company that doesn't do communication to investors that well, as opposed to the board not running the business well.

I don't believe they would be paying 4c out in divi if they weren't confident they could meet cash flow requirements, like I don't believe they would have invested in Libero if the cash flow was an issue (though I disagree with the latter).

The bigger picture here divides long term investors from short term traders (traders have clearly got the better of the last 18 months) and the current share price either represent good long term opportunity for you or not. I believe the signs are there for the share price to be much higher in the future, but I'm not very good at judging how far it drops before the rise starts. Going on such negative views on here though, I imagine a lot are already out & we know a lot of stock is tightly held so who knows, maybe the tide isn't far from turning?

Posted at 08/9/2022 16:14 by 2sporrans

"I wonder if the truth is that we all got ahead of ourselves, and the truth is that there is a long, expensive, slog ahead, with ever rising development costs and AISC, and that the dividend will be an early casualty of that?"

This is, and has long been the most pressing concern afaic.

There may well be huge copper resource in the AAZ ground, reasonably accessible/extractable [+more pepperings of Gold], yet the future may not be as
rewarding as the revenue streams this implies.
We know little of the margins to come; both metal price and cost of production are largely speculative.
Then again, AAZ has proved itself to be an efficient producer; that improves its odds significantly.
One must also tkae into account the emerging prospect of Demirli access.
This is a proven, large, well profitable asset with over a decade of such life in it, if and when full access is granted.
Nothing in the share price for it, or next to.

Vexingly and frustratingly, management have failed to demonstrate the same efficacy when it comes to investor relationship and disconcertingly, some of the commercial decision making is looking poorly conceived.
This has exacerbated the ongoing sell-off that is common to all gold/copper miners.

These, imho, were poor decisions of late with significant consequence:

1. To not sell gold during a period [H1] of high prices but gamble on them going higher [despite a fading market, $ ascendant].
Hence the ludicrous 7k-oz dore in inventory.
If this remains unsold, they've dug a fair old hole for themselves.

2. The buyback [NOT !!] debacle of which enough has been posted for me to spare you with re-iteration.

adding to these:

3. To raise expectations for imminent new mine production [Vejnaly/Gosha], then fail to follow up with anything of substance to evidence the scale of gold production to come. The ko dates being far less important than the production profiles.
I have not forgotten the long episode of the 2020-21 Avshancli-1 debacle; the juicy carrot that turned out a wizened root.

4. Libero.
If a cashflow hiatus has arrived [exacerbated by that inventory 1.] that may be prolonged past mid 2023, one has to question the wisdom of so generously [over $3-mn recently] feeding further $millions into this highly speculative, very long lead payback venture, now that Macoa has been punted into the long grass.
One has to question the wisdom in any event, even with hugely abundant cash+cashflow.

5?? "dividend will be an early casualty"
Well, I and others have posted plenty on this prospect.
The manner in which the divi is managed and how this is communicated to us may mean it will be 5. in this list.

+ further niggles, such as the personal loan

All the above are spooking investors right now.
Loads of posts here attest to this.

The potentially good side to the above list is that much/most can be sensibly mitigated and/or concerns assuaged by management.

Posted at 07/9/2022 11:53 by pughman
When the buyback was proposed and then passed I got the impression from this forum that a number of investors bought shares in the company, partly or mainly off the back of this. Investors will ask themselves, have I been naive or have I been mislead.
Posted at 02/9/2022 09:39 by 1knocker
I have a pretty full hand Wan. In no particular order: Franco Nevada, Royal Gold, Wheaton, Sandstorm (following its takeover of Nomad, which I held), Altius, Anglo Pacific, Trident and Gold Royalty. The last has been a disappointment so far. It was heavily hyped, and I did not time my entry /top ups as well as I might have done. Some such as Franco Nevada, Altius and Anglo Pacific I have held for years, the others and a top up in Anglo Pacific at 126 are more recent, though as I said the ideal time to buy such companies is when the commodities they invest in are not in the forefront of investors' minds and cash for mine development is hard for miners to raise.

Altius and Anglo Pacific are somewhat similar, and of the two at the current exchange rate I would favour Anglo Pacific at present, especially as it is leaning toward battery metals. Currently, it is making a killing on coal. Franco Nevada is the big daddy, but seems expensive to me at present. Wheaton is down at present, being weighted toward silver. Trident and Sandstorm are smaller, but seem to me to have impressive management teams. Gold Royalty has some very impressive investors, but as with anything gold, one should be careful not to read too much into that as the heavy hitters have generally got in on terms the rest of us can only dream of.

If we are in for stagflation, the royalty and streaming companies are very well placed, as they have low costs and their deals generally insulate them to a significant degree against increasing mining costs. The financial press will tell you that by investing in royalty companies you avoid exploration risk. That is not really true. If the exploration does not lead to production, the return does not materialise for the royalty company, and its investment goes up in smoke. The real benefit is that if the exploration /development does lead to production, but with cost overruns (pretty common, especially in inflationary times)the royalty company s insulated from those overruns, and likewise to a greater or lesser extent from inflation in mining costs after the mine begins to produce as, broadly speaking (but subject of course to the terms of the contract), it takes its slice off the top line. Also, every royalty company has a multitude of contracts, so that risk is speed (its not 'every time a coconut' with mining exploration/ development), and they are far better placed than any PI to assess the prospects of the miners who come to them cap in hand for cash with (as always with miners)a prospectus that sounds the best thing since sliced bread, but probably is not.

Finally, early stage miners burn cash, and by the time even a successful project turns a profit, the odds are that he PIs have been diluted out of sight (not only because of the issue of new equity, but because on any cash raise the big boys always get better terms). Thus royalty companies are much the safest way to dip a toe in the exploration water,aswellas good income sources in inflationary, and especially stagflatinary, times.

At present, I am mainly looking to buy physical copper, via the Wisdom tree ETF. I see copper as key to electrification, and demand exceeding supply before long and continuing so for a decade or more. Logically, the price of copper has to rise, in real terms. New mines take a long time to bring into production, and yields per ton of ore are falling all the time, increasing production cost. At present prices, I see a holding of physical copper as a very safe bet. Its above ground and thus its cost of production already paid, and ought to increase in value faster than inflation. At worst, I can't see how it can fail to match inflation over the next 5 to 10 years at least.

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P: V: D:20221201 07:20:41