Anglo Asian Mining Share Discussion Threads

[celeritas] 04/11/2016 13:40

Stock is tight, no quote to buy 10k

[celeritas] 04/11/2016 13:33

AAZ could also get a new licence from Azergold, seems to have been forgotten of late.

[jbe81] 04/11/2016 13:06

And of course the gold price!

[jbravo2] 04/11/2016 12:57

Well of course that would depend on what I think we're worth when we hit £1. I'll hold for as long as we're undervalued.
I can't see us hitting £1 before any news on resource comes out and then the value of the company will be far better known.
If we find another couple of hundred k oz at Gedabek, of course more copper and bearing I need mind we've already had over 100k oz out since last time, that would be a result. If we then find another couple of hundred k oz at Ugur and a hundred at Gadir then £1 will be far too cheap.
Of course if we find anything like the numbers being mentioned by others then it's many multiples of £1.
That work should all be done by this time next year.

So in short it's unlikely I'll be selling at £1 now but then if it hits it by Christmas, yes I'll sell half, and have a very nice time of it.

[zhockey] 04/11/2016 12:16

Jbravo are you still selling up at £1 or have you upped your target?

[jbravo2] 04/11/2016 11:24

I'm back again.

So I also chatted to Stephen about the move to change to flotation before AL. He confirmed it is something they are looking at more closely now as it is very easily done now the second SAG mill is in place. Apparently the change can be made very quickly.
He feels he wants more certainty on the copper grades before it happens but it is good to have as an option from any point now on. He also felt the option increases in its usefulness once the flotation plant expands.
I asked about the flotation plants capacity as I've never really nailed down what it is and the flotation never quite seems to manage to treat all of the quarter's AL plant throughput. He didn't really give an exact answer but implied it could treat everything it needed to at the moment but that ongoing optimisation meant it had more down times than the AL plant. I suppose that's fair enough, if we think about how long it took to get the AL plant to where it is now we should expect a full year of learning to get the best form it.

He confirmed that the Ugur deposit is currently showing no copper but again he wanted to emphasise that is currently only down to 34m. It may be different at 300 or 400m! Of course no copper isn't all bad as it does make the ore easier to treat.

Gosha will continue to contribute small amounts of high quality ore. The veins continue to be narrow. I don't expect big things to come from here and indeed it was only ever expected to be 40,000oz from memory wasn't it?

I'll come back if I remember more from my chat with Stephen but as jbe and matt have said. He is a star appointment. Proactive and seemingly going to make a real difference. Oh and he has purchased small amounts of shares out of his own pocket. He now wants options! Give them to him Reza!



My chat with Bill was also interesting but shorter after all I've chatted to him many times. I learnt the ATB bank loan was set up at the IBA's request. Was never aware of this previously. Not sure of the reasons why but their relationship with both banks continues to be good. I asked about possibly refinancing and he confirmed it is something they may look at. He mentioned SocGen are keen. He said it is a tradeoff though. The relationships with IBA and ATB are very good and they clearly feel they won't ever be put over a barrel (Indeed this came in useful at the height of indebtedness when we were given exemption from cover ratio requirements from memory?). So its a case of weighing up the saving vs the relationship and the ability to turn to them in any circumstance etc.
He said he thinks it's entirely possible debt will be down to 30m come year end.
We chatted a bit about dividend as he bought it up in the presentation, which surprised me. It's not top of the agenda and certainly of course nothing will happen this year but who knows in the near future.

Ok that'll do again for now.
If you're in any doubt...

It's a buy.

[jbe81] 04/11/2016 11:03

Yep, you would have to be mad to sell shares in a gold producer at the moment

[celeritas] 04/11/2016 10:42

Agree Matt, Trump will give you the instant rise with Clinton maybe an initial fall but then a slow climb to way higher than the current pog.

It comes to something when you think Trump is more trustworthy than Clinton.

[mattjos] 04/11/2016 10:38

next week could be very interesting for gold.
I recall the election of Bush a few years ago as was in Florida at the time when they had to recount and recount before could declare a result.

It seems almost now a case for Gold to go higher irrespective of who wins. If Clinton gets in, you can bet the FBI are going to be gunning for her even more than they are now. Having juiced the markets for so long to try and ensure a Clinton win, that reason to keep markets artificially inflated will dissipate & quite conceivable that markets will crash when the December rate rise is done.

If Trump gets in it will be such a huge shock to the establishment and will ripple around the world ... giving further impetus to other such anti-establishment candidates around the world.

I cant see why gold should not now keep pushing up towards the 1500 level

[ilostthelot] 04/11/2016 10:37

Thanks for the feedback from last night.. Regular updates on exploration will keep this strong upward move going.

Gr3at stuff. This resource really could be huge if its all linked up. The Russians may well be right 20 million ozs.
What price would we be worth with that resource proven up?

[zhockey] 04/11/2016 09:43

I agree that prioritising the areas close to the plant make sense, but if they find 1M oz at Bittibulag it will not do the share price any harm!

[mattjos] 04/11/2016 09:37

thanks for all the feedback from last night. Very generous of those that went to share the information gained and insights here.

Some very exciting times ahead, both near-term and medium-term.
Sounds very much that the management team of the company share that sense of excitement now. Well done Mr. Vaziri to have recruited Stephen to the company at just the right time

[jbe81] 04/11/2016 09:31

bsg somebody had to pay a premium to get 47k shares

[bleepy] 04/11/2016 09:26

Thanks Slavy.

5ml x 18.3(present silver price) = $91.5ml

Those estimates are for Ugur's recent discovery note.

Ongoing drilling to 10 times the depth, very exciting times indeed.

Not forgetting Ugur south and Bittibulag.

[jbe81] 04/11/2016 09:26

I don't think so, with such large daily volumes and a buyer in the back ground can't see there being any supply once the traders have gone

[bsg] 04/11/2016 09:23

No idea, that's why I don't do it. But this looks like it could be doing this for a while.

[jbe81] 04/11/2016 09:17

bsg can you make more trading around the level of the resistance than the premium you will need to pay to buy them back? WAS up 3p on cerca 100k buys this am.

[slavy] 04/11/2016 09:14

Bleepy

RE post 5445.
I broadly agree with those numbers

I get slightly higher recoverable gold oz probably due to using 2650kg/m3 specific gravity (as per AAZ RNS 29.10.10).

Lets not forget about the silver too
(I make it approx 5Moz recoverable)

[bsg] 04/11/2016 09:08

Resistance wins again, if I new what I was doing I would sell at resistance and buy back lower or after it's broken through resistance.

[slavy] 04/11/2016 09:08

Homebrewruss – RE Bittibulag

From the Interims 12.09.16

“648 samples were taken and which are currently being prepared for assaying. A total of 56 metres of trenches were excavated and mapped from which 60 samples were taken. On the basis of the positive results it is planned to carry out historical adit rehabilitation, diamond drilling and metallurgical test work drilling in H2 2016”

I think the drilling and test results will be released soon

[homebrewruss] 04/11/2016 08:57

Re bittibulag I have some notes from last night saying drill program is currently being assessed and results should come out soon. I may have that wrong however and am not as familiar with the prospects as some of the others.
Does anyone else recall?

Edit I think jbravos info is more detailed than mine

[jbe81] 04/11/2016 08:56

My thoughts are they will focus on the stuff closest to the plant

[jbravo2] 04/11/2016 08:55

I kind of covered it before zhockey. It looks good but it's 6km. Stephen stressed he's looking at things in a logical order for development as well as just to prove up resources. If we go to Ugur and Ugur south first, and who knows perhaps haul the ore via cable to Gedabek that would help later link to Bittibulag as Ugur is half the distance there.