Anglo Asian Mining Share Discussion Threads

[jbe81] 18/7/2017 16:08

🤣🤣🤣

[jbravo2] 18/7/2017 16:05

I can imagine the conversation now.

zh "oh thats not very much, 100k oz. that'll only last two years"
jb "its fine for now. it's just more ore to add to the mix for the plant. to add to the ore from gedabek and gadir"
zh "they've as good as admitted the mine isn't viable, in fact they shut the mine to make a road"
jb "no they haven't"
zh "yes they have and anyway here comes sub $1000 gold... no really this time it is"
jb "are you sure? i think you warned me about this before. like quite a few times"
zh "so my timing has been slightly out the last two years but really here it comes"
jb "ok thanks"

[zhockey] 18/7/2017 15:57

Let's wait for the Ugur reserves RNS and then discuss :)

[jbravo2] 18/7/2017 15:38

Mr hockey, you seem to have lost your marbles.
In the mire?
What aren't you understanding?
Have you read the last RNS?

[zhockey] 18/7/2017 15:21

Catsick,

100k is two years production then back in the mire just producing a bit of gold and 2000 tonnes of copper.

[catsick] 18/7/2017 14:54

Zhokey , 250k is 5 years of gold without any of the other sites producing, I think anything over 100k and I am a buyer at these prices, anything under 50k and I think we go sub 15p, however it does not sound like we will get a jorc report at this stage, of course I am hoping for 250k but I think that is a game changer if confirmed and I would buy up to 25p then and not sell out any until 50p if that was confirmed, at present I would lob a few out at close to 30p in the absence of any jorc confirmation...

[lefrene] 18/7/2017 14:32

Odd to see very good production and clear monthly figures and the sales price, but where is the balance sheet? Last years 53,000 ounces sold at circa $1200 an ounce is $63,600,000, so what has it been spent on? Yes paying down a bit of the debt, paying employee's etc, but where's the rest gone? Perhaps that's why the market cap is barely £6 million, instead of perhaps £150 million?

[wrighty46] 18/7/2017 08:33

Morning all, in for a few more just now and ready to buy if the update on ugar is good. I can't believe the market isn't giving this company any kind of future value at present, especially as the performance has been pretty good the last 24 months. The debt is no where near as off putting as once was. Hoping we will be out of this sideways movement soon and then perhaps the market will finally get it. GLA

[jbravo2] 18/7/2017 07:53

Yes, and of course it's virtually all capital now.
That'll leave only four payments and the two largest loans (currently standing at 12.2m) will be done.
Hey if we clear 6m debt in the worst half year of gold production, add in another 5m of free cash each half by this time next year!
:D

[mattjos] 18/7/2017 07:41

Agreed jbravo. I was pleased when they finally went to GE reporting. Folk are too hung up on just the gold element of the business.Brasso' charts help tell the real story here.Next $2.5m chunk is in August, is it not?

[jbravo2] 18/7/2017 07:26

Oh matt I think Reza knows exactly what they have to do and as you've just mentioned he's doing it.
Hey it was crazy that it was at 4p 18 months or so ago but even as the risk significantly decreased it still took a long time for people to catch on IMO.
It's now crazy this is below 20p but eventually something will finally give people confidence and they'll understand it. Hey a few that bought at 30p will even want to average down :)

We just had the lowest half of *gold* production since H1 13 but we still paid off 6m in debt, finished the water plant, and started paying for a new mine.
The difference is the concentrate contributed 10m this half as they continue to diversify revenue income. We move further and further to being a poly metallic mine. Flexing as the ore changes.
As others have said, if we get a strong H2 the debt will be well under 20m, combine that with the new resource etc, the ongoing exploration, and the future is very rosy.

[gutterhead] 17/7/2017 22:33

No real negatives in the statement but it has a lot to do to meet gold forecast.
Copper positive, debt reduction good, costs reducing, think it is set up to rise after the statement due later this month.
It seems better placed than when it was at 80p?
35p a share seems a long time ago but could come back and go beyond quickly.
Good luck all

[brasso3] 17/7/2017 20:58

I thought todays news was quite neutral.

It will trade sideways until some more significant news is released.

Copper production just keeps on growing quarter on quarter.

[brasso3] 17/7/2017 20:51

Chart update

[mattjos] 17/7/2017 19:05

Reza must wonder what they have to do:Debt too high ... now virtually halvedNo exploration ... new Ugur resourceNo long term mine plan ... now being flashed outProduction cost too high ... 25% reductionLong term site commitment with grid connection for electricShort term commitment by lending the company $3.8m ... which remains in place while they pay off commercial lenders.

[bleepy] 17/7/2017 13:49

High grade stockpiled ore/ore from Gadir,Gosha and oxide rich gold ore from Ugur will source the leaching-flotation process from Sept/17. A bumper of a qtr/4 anticipated and going forward as Gedabek open pit will be back on stream q1/18.

[bleepy] 17/7/2017 13:41

Ore production has also been stopped from the Gadir underground mine (from February 2017 until September 2017) to allow development and exploration drilling. Any ore mined from Gadir during this exploration development phase will be stockpiled for Q4 2017 production.( 9,591 tonnes of ore with an average grade of 5.17 grammes per tonne was also mined, in conjunction with its exploration programme, from the Gadir underground mine in Q2 2017).

Based on successful process test work, process flexibility between agitation leaching and flotation is possible, whereby the Company can utilise flotation first followed by agitation leaching, or vice versa. The benefits of the flotation-first configuration are increased copper concentrate production, while saving costs by removing the cyanide consuming copper before the leach circuit.

The production plan is to configure the plant to flotation-leaching between February 2017 to August 2017, and then revert to leaching-flotation from September 2017 to the end of year. In the latter period, plant feed will be sourced from Gadir (9,591 tonnes at 5.17grammes stockpiled so far),stockpiles, Ugur and Gosha (the Company's second underground mine, which is 50 kilometres from Gedabek). Full production mining in the Gedabek open pit is planned to resume at the beginning of 2018.

[jbe81] 17/7/2017 12:41

Silver and copper doing well too

[jbe81] 17/7/2017 12:36

Neutral/positive update shown by todays trading. Gold holding up well(more than can be said for bitcoin) just a question of when the share price heads north now.

[catsick] 17/7/2017 11:54

Update seems decent, especially that they could pay down 4m of debt while commissioning the water plant and putting the roads in to ugur , the update on ugur will be critical to the share price although it does not sound like we get a jorc report, probably just more drill news and info on what they have completed, it does seem like they are doing things backward I never saw a mine company commission a mine and then get the jorc report done .... usually there are many years between the two ...

[mattjos] 17/7/2017 11:23

unusually for AAZ, thus far, no 'sell on the news' trading action. I think the promise of an Ugur update before the end of the month will persuade many to sit tight & see what the company has to say.
Wonder if some of the Ugur strip is now finding its way onto the heap leach pads

[jeanesy] 17/7/2017 09:54

Although i agree about debt id say its a pretty neutral update. Production figures mean that there will have to be a pretty large increase from now on to meet even the lowest figures for the year. I find it hard to believe they have not lowered their forecast for the year, although they didn't last year, on similar worries, and in the end figures were not met. Hopefully there will be some good news on operations at Ugur. Much here still depends on finding more gold imo, so drilling news is the key. The volume in shares has been non existent for over a month now , so interest here has dwindled for now.

[mattjos] 17/7/2017 08:21

It is not just the debt reduction that is great news, it's also the interest burden on the dwindling principle sum. This step down in debt reduces that interest by $500k per annum.

[mattjos] 17/7/2017 08:12

with an update on exploration & operations at Ugur within next 10 trading sessions