Anglo Asian Mining Share Discussion Threads

[sh0wmethemoney] 21/9/2017 10:42

Topped up on SIPP account!

[mattjos] 21/9/2017 10:39

no chance a blue finish today. The MM's will know that a lot of folk wont read this news piece until this evening & many won't be aware of Bill at the Proactive event either & so they will keep this pegged back to try and encourage another brief round of selling tomorrow morning, imo

[2sporrans] 21/9/2017 10:31

Yes, well spotted on Ordubad Bleepy.

That AAZ spent anything significant on Ordubad during this rather febrile and risky period of transition, with money tight, says to me that Ordubad remains of key importance to AAZ for medium [next 2-5yrs] as well as long term.
Back burner for next year or so I guess but a potentially massive pot and being actively sized up; could be a game changer.

Been mulling over exactly how much of a risk the location really poses; I mean it's proximity to Armenia and Nakhchivan [the Azerzi province Ordubad is in the very SE of] being an enclave surrounded by Armenia,Iran and a door in/out of Turkey.
Map:


The town of Ordubad [a pleasant looking place, ~10,000 pop.] is actually situated next to the Iranian border; it's a fair few miles away from the Armenian one which is in decidedly mountainous territory.
How far from the town are the mining prospects; anyone know?

Although there is / has been no unrest in Nakhchivan to speak of as the populace is overwhelmingly Azerzi, guess one has to factor in the possiblity of the latent war over Nagorno Karabakh flaring up and escalating into a fully fledged conflict between Azerbaijan and Armenia.

Then again, maybe one can look more to the +ve realities and 2 large copper mines just over the Iranian and Armenian borders.

Seek and thou shalt find:


Agarak Copper-Molybdenum Mine Complex - Armenia [A howitzer shot away!]

hxxp://www.geopromining.com/en/our-business/operations/agarak/


Sugun Copper mine - Iran [~50km SE of border from memory; near Ahar]

hxxps://financialtribune.com/articles/economy-business-and-markets/11328/sungun-copper-mine-capacity-doubles

[sportbilly1976] 21/9/2017 10:27

Few more buys & sells via NEX:


Latest Trades
Date & Time Volume Price
21/09/2017 10:13 6,710 30.15
21/09/2017 09:14 4,000 29.65
21/09/2017 08:36 3,667 29.65
21/09/2017 08:33 10,250 31

[basem1] 21/9/2017 10:13

Blue finish anyone ?

[mattjos] 21/9/2017 10:08

:-) .. yup, I believe some of the nervous sellers here today are shortly going to regret selling out for no discernible good reason today.

[ilostthelot] 21/9/2017 10:02

An easy 5 bagger from here. Great results. Great company over delivering. Class act management. 👏

[davidspringbank] 21/9/2017 09:43

Excellent results.

[mattjos] 21/9/2017 09:29

Ugur: "currently free dig mining without the use of explosives - thus saving cost and time and machinery wear and tear"

"Extensive work underway to increase understanding of the considerable upside potential from existing mines and new prospects at the Gedabek area"

[mattjos] 21/9/2017 09:19

good spot bleepy re. Ordubad

[bleepy] 21/9/2017 09:17

Excellent update with resumption of mining at Gedabek open pit a month ahead of schedule (Sept/17).
Impressive reduction of all in costs whilst maintaining pay down of debt again with reducing interest payments going forward. Not forgetting annual $2mmln saving from electrification going forward.
End of year target 64k-72k maintained.
Also...Capitalised exploration and evaluation expenditure of $0.1 million was incurred in the six months ended 30 June 2017 which was mainly exploration in the Ordubad contract area. Would expect update on Ordubad's vast resources.
Q3 ops and production update in a few weeks will further highlight the tone and impressive pace at which Aaz are advancing toward a mid tier producer aiming in excess of 100k annual target.

Well done Aaz.

[friendzarin] 21/9/2017 09:17

Looks like the presentation is up on the site.
Suppose Bill will use this tonight.

hxxp://www.angloasianmining.com/media/pdf/Corporate-Presentation-20.09.17.pdf

Edit

Like this bit

DRILLING ON-GOING IN PIT AND GADIR – TUNNEL BETWEEN PIT AND GADIR
ALMOST COMPLETE AND MINERALISATION INTERSECTED

[stealive] 21/9/2017 08:56

Bid higher than the ask?

[sportbilly1976] 21/9/2017 08:49

NEX trades this morning:

Date & Time Volume Price
21/09/2017 08:36 3,667 29.65
21/09/2017 08:33 10,250 31
21/09/2017 08:08 3,913 31.7
21/09/2017 08:01 1,000 32

nothing out of the ordinary, but sometimes a MM will route trades to other exchanges to 'hide' them for people who only use a LSE feed

[ferries5] 21/9/2017 08:45

Great results for the first six month in a transitional year for the company.
Looking forward to the October update, and the end of year update regarding the debt situation
But probably it will be this time next year before the true potential begins to show. Or some good news regarding drilling results.

[2sporrans] 21/9/2017 08:39

Confess to having sold a few end of last week, expecting a results dip.
Grabbed them back for 30p as don't expect to get them lower today.
Could be news on Gadir: Gadir->under main pit tunnel [phase 1] complete and 'restart' production. + maybe Gosha restart any day. [Maybe not Gosha with the Ugur ore flooding in].
Further Ugur production news?

Then exploration/development update could be released ahead of the Q3 prod./ops mid Oct.
Main pit down-drilling.
Bittibulag?

Maybe also Further Ugur production news?

[mattjos] 21/9/2017 08:35

Always sells off on the results ... give it a couple of days. Folk know the real news is only 3 weeks away

[basem1] 21/9/2017 08:34

2 lots for me. My 32.88 ones bought back in cheaper.

[mattjos] 21/9/2017 08:31

More for me, thank you

[mattjos] 21/9/2017 08:24

Looks like they are managing to shake out some £250/p margin so far but, little else

[jim digriz] 21/9/2017 08:13

Thought I would update the ned debt table I posted in the past:

30 June 2017 – Net debt: $29m (21 September 2017 announcement)
31 December 2016 – Net debt: $35.1m (17 January 2017 announcement)
30 June 2016 - Net debt: $40.7m (12 September 2016 announcement)
31 March 2016 - Net debt: $47.5m (13 April 2016 announcement)
31 December 2015 - Net debt: $49.2m (11 January 2016 announcement)
30 June 2015 - Bet debt: $48.7m (22 September 2015 announcement)
31 March 2015 - Net debt: $50.7m (14 April 2015 announcement)
27 February 2015 - Net debt: $50.4m (9 March 2015 announcement)
31 December 2014 - Net debt: $52.4m (14 January 2015 announcement)
30 September 2014 - Net debt: $49.9m (15 October 2014 announcement)
30 June 2014 - Net debt: $46.1m (23 September 2014 announcement)
31 December 2013 - Net debt: $45.5m (28 May 2014 announcement)
30 June 2013 - Net debt $46.4m (26 September 2013 announcement)
31 December 2012 - Net debt: $28.3m (28 May 2013 announcement)
30 June 2012 - Net debt $11.9m (27 September 2012 announcement)
31 December 2011 - Net debt $3.2m (23 May 2012 announcement)
30 June 2011 - Net debt $16.6m (from 27 September 2012 announcement)
31 December 2010 - Net debt $25.5m (from 23 May 2012 announcement)

Cost of agitation leach plant (which created much of the debt in the first place): c. $45m (June 2013 announcement)

Debt going in right direction pretty quickly now, although there is still a way to go. Interest payments going down.

[cannonfodd3r] 21/9/2017 08:11

When you consider what additional work has been carried out in this period using their own equipment and getting ugur online so fast the results are fantastic.

Some will look past this but others will see the value. Ugur will also allow massive stockpiles to be built up to point where weather turns as it's so easy to get at allowing continued and sustained production through the winter when they usually struggle, couple that with high grade from underground at gedebey pit and everything is aligning nicely for solid production.

My estimate for the full year is 67,000 oz gold and 2900t copper with silver up 200%.

For 2018 I think we will see 92-95,000oz gold, similar or slightly reduced copper and an AISC close to $450.

I also expect another ugur to come up, drilling results showing that the gedebey reserve is actually deeper and spread much more laterally than previously quantified, a new AL plant built and a strategy put in place to rework the tailings. Also if investment is announced I think it's fair to say nothing will happen with azergold if capex spending is announced, be that Anglo Asian taking on azergold or vice versa.

The main thing to take on board is that there's actually a strategy in place now, so while we mined less last half we spent well. In the past there's been a lot based on luck rather than better judgement in my eyes. E.g gedir and gosha, neither paying their way which I'm sure steve westhead identified fast. Little is said about gosha so suspect that's mothballed with resources brought to gedebey for development and gedir is all but abandoned to explore under gedebey, not chasing dreams like it was.

Continued mining above ground at gedebey will provide solid throughput of copper rich ore to balance zero copper throughput from ugur and high grade brought from below as they target and work towards the real rich areas below gedebey and start horizontal drilling to add to Stephens complex 20m grid model.

So a nice period of steady growth and managed development to come basically