Anglo Asian Mining Share Discussion Threads

[petrusgazin] 22/2/2018 02:36

We will be getting the report on the current exploration soon, it has been much delayed ! The question is that is it delayed because of 1 - bad news , we drilled and found nothing but low grade rock, or 2 - We drilled and need to define things more so need to do more drilling and assays before making a fuller announcement on something nice.

The current drilling below the main pit is interesting, if you imagine what they have dug out in the current pit is like a big swiss cheese with low grade rock and dug out lenses of copper/gold where very high grades were historically dug in the last 150 years, the lower mining is into virgin ground and not swiss cheese, but it is all sulphide, high grade is going to need to be crushed and put through floatiation first, all this is now being put in place, the drilling and plant build is all being done so if a high grade lens is found it can be processed.

So the question is going to be is the current result like the first ugur announcement, we found lots of high grade oxdide and dont know the limit of it! or the second one, we dug deeper and found nothing extra at all ....

[mattjos] 21/2/2018 20:57

spittingbarrel .... sorry to see you depart. I fear you may have nailed the short term low on which to sell. someone keen for £30k of stock at 16:25 ... that will have taken a while to work through the MM's.

Still, you've got the cash now so can always step aside and re-enter if you wish.

We're getting very close to news now. Markets will be back to normal next week with Half-Term over and Chinese New Year ended. The Fed minutes are out of the way now also so, would expect to see Gold catch a bid next week.

I remain persuaded this next news item will allay many fears a few still seem to harbour & should soon give share price Angel some decent data on which to persuade Sergey to do what is long overdue else, I will be petitioning as best I can to get shot of them and invite a more heavy weight broker to replace them. They are in last chance saloon now, in my book.

John Meyer .... pull your finger out now else, lose the gig.

[celeritas] 21/2/2018 20:13

Jeanesy, you are such a worrier. I sometimes wonder why you hold here.
You worried about refinancing for ages, yeah it was a little later than expected but we did get great news.

[jeanesy] 21/2/2018 19:33

I could not agree more 2sporrans , we need those drilling results as surely they have collated the data by now? Every day that passes without them puts a little doubt in your mind that perhaps they are not as good as we are hoping they are going to be. Although every piece of news has been excellent recently its those drilling results that are now needed. I have my fingers crossed that the promised news about further exploration is not going to be because the drilling results so far have not been up to expectations and therefore there is a need for spending money on more extensive exploration elsewhere which may/may not find future reserves.

[goldrush] 21/2/2018 19:18

jbe81&Mattjos

Agree....and the 71,390 purchaser had to pay 42p for the favour !! Wonder were they working it during the day ..shake a few ....bingo ...except it did bring a few purchasers out ..

[mattjos] 21/2/2018 19:07

Rats! Tied up most of day entertaining business visitors so, missed the February sales it seems.Still, good to see the opportunity being snagged by a few .. I did see that the MM's were keen to buy on the drop in morning though.Can't believe the sale will exist next week

[jbe81] 21/2/2018 19:05

Gold moving up

[jbe81] 21/2/2018 18:53

Nice buy just before the finish

[goldrush] 21/2/2018 15:57

Guys

To me it was a great opportunity to top up and I put another 25,000@ 39p into my SIPP and locked away long term.

The MM’S just love people who try to trade this and we all know that does not really work here....IMHO

Thanks to all for a civilised and insightful BB.I had taken a sabbatical from the BB’S but felt it was time to comment on the great info here.

[celeritas] 21/2/2018 13:55

mm's doing there job in creating a mkt. Take it down looking for sellers then bounce as some buyers come in to put them off. This usually brings in a few more sellers who see it as a second chance.
We just need to get through the churn at 40p

[2sporrans] 21/2/2018 12:27

"We could I suppose go on announcing every single drill result but surely its far better to release jorc statements which take far longer but are meaningful."

Put like that, I cannot but agree with you Celeritas.

Yet, it's 4 months since the last Operational Update [26Oct17].
That gave us plenty on drilling meterage but nothing on grades.

Can't speak for anyone else but my patience has been tested on this.
Putting the excellent Ugur to one side, the big picture since Q1 2017 was for a re-assessment and modelling of the Main Pit and Gadir to take place.
The latter was pretty much achieved by Sept.17 when an extended development of Gadir re-opened.
And fair enough, Gadir has been producing satisfactorily as the Q4 results showed.
So, put it to one side here. [btw Matt, please amend lookahead up top where says Gadir reopens in Q1 - along with Main pit]

The main pit is where the vast bulk of the reserve has been and remains crucial taking a 5+ year view.
So, from closure early in 2017, there was ~5,000m of drilling there to end Q3, with an accelerated [freed Ugur gear] Q4 5,000m drilling scheduled and presumably completed.
I really do want to know what the grades are.
Mineralisation [sulphide Oxide], rock type also.

Yes, the main pit is reopening Q1; could be the very next good news RNS!!

Yes, there's the 13% increase in GE prod. targeted for 2018; looks conservative to me and most here.
Yes, plenty more to indicate, strongly, expansion of production beyond 2018. Spend on
Mains elec [done], clean water [done], big tailings dam capacity [wIP], pipeline from flot. plant to t-dam, $3-mn new crusher to remove 1st bottleneck [ordered], Soft loan reschedule over 2 years & capital release, option study for main pit re-modell [back wall shift] to enable 7+years more extraction.
And more........

Non the less, I expected to learn the drilling results for 2017 for the main pit + Gadir by now and further delay may erode my confidence.
Also, AAZ did say some time in Q4 that they expected to release their 3 year exploration/Dev./prod. programme by end of Q4....and early Q1 that an RNS would be out by early Feb.
Did they not?

As for the recent price action, well nothing unusual; the price is always volatile.
Very thin volumes, traders of all sorts or those that have not spent the many hours of time required to research sufficiently to establish the conviction required to hold through news impasses and price dips, let alone any fundamental concerns. [Agreed FZ and Terrapol]
Bettcha that if AAZ announced it was giving a special 1/2-Q1 production update come Friday, the price would rise rapidly, prob. to ~45p today/tomorrow.
Then give much of it up next week.

[jbe81] 21/2/2018 12:24

Just goes to show what some buying does. Will only take a rise in gold or drilling news to take us to recent highs.

[djj2014] 21/2/2018 12:18

I can hear the birds singing. A bit of blue does wonders for the soul.

[bumpa33] 21/2/2018 12:12

ah look, we're now blue and the world is wonderful once more :)

[bumpa33] 21/2/2018 12:09

it's a few people getting bored and selling, a few people taking advantage of people getting bored, and buying.

Watching every single tick is likely to drive you insane, or at the very least schizophrenic.

[lefrene] 21/2/2018 11:59

Is it just the MMs moving things about to stimulate a bit of trading, or filling an order? It looks cheap to me, very cheap.

[celeritas] 21/2/2018 11:53

That 22k buy must have been at best. No stock about in that size.

[jbe81] 21/2/2018 11:44

Nice to see some picking up a bargain today.

[lefrene] 21/2/2018 11:41

My only concern is that AAZ gets taken out on the cheap. Ironically the more gold and copper they discover in the ground, then the more tasty they become to a predator. It won't be long before this business is throwing off serious amounts of cash, a few decent proven ore finds would then provide a future perspective on income. Perhaps not a Glencore just yet, but it's a heck of a lot more than a gleam in some egotistical chancers eye.

[celeritas] 21/2/2018 11:38

Angel are about 1 year behind the timeline, most investors here pay far more attention to whats going on with the company..
3 drills are our own on site with 5 contractor drills, I'm expecting these numbers to increase with money now released for major exploration. Its took years of work to get to this position, only now can we prove up what a huge resource it is.
Gadir underground particularly interests me, never mind loads of other areas that are being explored.

[terropol] 21/2/2018 11:24

CELERITAS, we are all waiting for some drilling news, And the team we can assume are working hard at it, they must have enough knowledge to be spending on equipment and infrastructure. (Mr. Vaziri with 30% of the shares would not waist his money I am sure)
Like it has been posted before is not the case of a CEO making up story's to keep his job...

The Brokers will also write a concrete and reliable Note ones they have some firm figures to work from.

[mattjos] 21/2/2018 11:21

yasX .. I think this just an on-going A,B,C correction from the January highs & would expect it to complete by end this week