Anglo Asian Mining Share Discussion Threads

[return_of_the_apeman] 18/9/2018 14:15

Can only get a quote for max size of 1500 @54.94, seems to indicate the seller is now clear

We will know if further buying continues, however PIs will now probably have to use limit orders & fill or kill to get any i'm affaid

As the price moves up I expect some small pockets of stock might become available but will soon be eaten up

Bodes well, for a large mark up at opening tomorrow to me

[gutterhead] 18/9/2018 14:11

there are buyers and sellers, thats the market

some people bought at 4p and now need the money for something else, some need to rebalance their portfolio etc its life

I agree with you that it appears to be madness to sell, with all latest news, at this price and especially with an RNS coming tomorrow, containing dividend detail!!

[macmuck] 18/9/2018 14:03

Surely that big seller must be in a position he has HAD to sell. Nobody on this board this year have given a reason to be anything but a holder?

[goldrush] 18/9/2018 13:36

Brasso

....and L2 now firmed to 2 v 2

[brasso3] 18/9/2018 13:30

First buys above 54p going through now.

[goldrush] 18/9/2018 12:57

Sorry a little off topic but take a look for a few moments....This is how I discovered AAZ all those years ago from someone on the BB’s telling me to have a look see.

Excellent RNS from PGM whose share price has been surpressed for some time.

The Management have delivered in the past. They are fed up with valuation on AIM and about to get a US listing.

A bit different from AAZ as not in production but the M.D. has used the words “ game changing” in today’s RNS

AIMHO

[bleepy] 18/9/2018 12:26

2s

Thank you dredging the info on backwall.

Agree with you re series of jorc’s over next Qtr and coming months.

Reza will have remodelled plans short and longer term with no doubt far more information regarding resource/reserve potential than we are privileged to. He has proved on many occasions to be an astute a planner as he is a person.

You certainly won’t find any better than Reza and team, they are miles apart in all aspects

[bumpa33] 18/9/2018 12:19

No seller here, no way :)

[jbe81] 18/9/2018 12:17

Delayed trades explain the lack of a big rise yet, further evidence of the seller?

[broken_arrow1] 18/9/2018 12:01

Despite three excellent RNS statements, with another one to come tomorrow, which will include the dividend announcement, the share price has still not hit 55p bid which was reached on the 17th July Q2 results.

That is quite remarkable, the seller allows buyers in cheap, it will eventually re-rate, short term 80p is not unrealistic as a target IMO.

No doubt one of the best gold plays in the junior space.

[2sporrans] 18/9/2018 11:45

Price is finally moving up.

Time to rip??

[2sporrans] 18/9/2018 11:44

Hi Bleepy

Yes there was 'talk' of a 7yr life for main pit on back wall push-back a while ago; over a year back off toh. This cropped up when the m. pit development/production plan got remodelled early 2017 methinks.

From the RNS:
" Pushback of the backwall to the Gedabek open pit is ongoing. This is exposing ore in the floor of the open pit".

So, what we have is a process, rather than an event.

The exact years life for the open-cast pit will of course depend upon rate of excavation and also the cut off for when switch to go underground; something of a moving target I guess.

Also, [as Monday's explo. RNS] the focus in H1 2018 was to learn about the resource from a production optimisation perspective.
So, the are 2 discrete parts to the main pit resource now delineated:
1. high copper/low gold => feed for the Flotation process.
2. higher [but not high] gold, low copper => prob. also for floatation but guess some of it [the oxide-low-copper - how much?] may go into the AL-SART feed, 'sweetened' by higher grade gold ore from Gadir [and/or maybe Ugur}.

As you have noted, the full resource is going to be way larger than in this JORC.
There will be a series of JORCs I guess, as new 'sections' get explored and ultimately may well be Gadir and main-pit merge together underground, as you have yourself posted.

[terropol] 18/9/2018 11:37

Conclusion: Comprehensive drilling programme carried at Gedabek through H2/17 resulted in an updated JORC mineral resources and reserves statement and a better understanding of the deposit. Gedabek life of mine is extended to five-six years on current mineral reserves (on our latest update we assumed seven years ie 2025, which is not unreasonable given potential inclusion of the remaining Measured and Indicated resources into the mine plan as well as possible conversion of previously highlighted mineralisation extensions encountered at surface to resources and reserves). This provides enough time to continue with underground development and exploration works testing the potential of Gedabek underground operations while maintaining continuous ore feed to the plant.

Taking into account Ugur mineral resources and reserves, at 52p Anglo Asian trades at $108/oz and $52/oz on EV/Reserves and EV/Measured and Indicated Resources which is considerably below an average of c.$200/oz and $100/oz for other junior gold producers. We highlight these estimates do not include Gadir underground mineral inventory (JORC estimate due Q4/18) as well as Gedabek underground potential. We reiterate our BUY recommendation and a target price of 84p.

*SP Angel acts as nomad and broker to Anglo Asian Mining

[bleepy] 18/9/2018 11:18

The economically mineable ore reserves remaining in the open pit mine amount to over 343,000 ounces of gold and more than 36,000 tonnes of copper, which will extend the life of the main pit for a further five to six years.

Hasn’t there been talk of the back wall of Gedabek open pit mine would sustain a further 6/7yrs mine life...anybody.

[bleepy] 18/9/2018 10:40

Today’s rns....

Anglo Asian CEO, Reza Vaziri, said "I am delighted to announce that, after more than nine years of mining at Gedabek, during which time Anglo Asian has produced over half a million ounces of gold, this latest JORC estimate tells us that the Gedabek ore body still contains a surface accessible resource of almost one million ounces of gold and over ninety thousand tons of copper. The economically mineable ore reserves remaining in the open pit mine amount to over 343,000 ounces of gold and more than 36,000 tonnes of copper, which will extend the life of the main pit for a further five to six years. This will give us sufficient time to complete our on-going underground explorations to determine the size and quality of the down dip extensions of the Gedabek ore body. In due course, we will have a JORC estimate of the underground resource and reserves to announce, together with a lifetime estimate for the current underground mining operations."

[cflather2000] 18/9/2018 10:35

Has LOM been formally extended at the moment? I know there have been lots of positive drilling results, but I think we will get a bigger boost when a formal LOM projected extension is published

[mad foetus] 18/9/2018 10:24

I actually posted when I bought and when I sold on the IDP thread last week and got an absolute earful about "we can see your motive" after I sold. And they didn't mean exiting with a profit after a successful trade. I don't understand why anyone would sell AAZ now, but I felt the same a couple of times this year when the share price looked strong and was wrong each time. It would be good to decisively leave 50p behind.

[2sporrans] 18/9/2018 10:21

Yas

I'm with you on the buy/sell declarations.
Surely a very strong predilection for announcing buys while keeping stum about the trading-profit sells. Doubtless some of the buys are buy-backs, replenishing the original stake.

It's in the nature of the bb beast; pretty ubiquitous really.
One reason [trading] sells won't be declared is because the seller stands to be lambasted as an idiot or worse stand accused of deception, having posted so much in a very bullish manner previously.

Far from the whole story but true non-the-less.

[gymratt] 18/9/2018 10:20

Should break out once the seller is finally cleared(..soon hopefully!!).

[mad foetus] 18/9/2018 10:19

Well, for anyone who doesn't think there is a seller, why are the MMs not moving the price up on a sea of buys?

[celeritas] 18/9/2018 10:16

I think we can all agree on that, slowly and surely it is all coming together.

[yasx] 18/9/2018 10:03

Goldrush,

You hit the nail on the head - things are finally coming together.

[bleepy] 18/9/2018 09:56

Certainly worth another mention....

OTHER WORK IN H1 2018
Airborne Geophysics Survey
H1 2018 activities in relation to this survey was planning of the area coverage and spacing of the survey lines, negotiations and contract arrangement for the helicopter geophysics survey (see information below) and negotiation and contract preparation for the helicopter.
A heli-borne electromagnetic survey will be carried out over the entire Gedabek contract area. The survey will employ the Z-Axis Tipper Electromagnetic system (ZTEM). This is an innovative airborne electromagnetic surveying system which uses the natural magnetic field of the Earth. The system is an excellent mapper of surface geology and is deeply penetrating and well suited to rugged topography. This method is especially suitable for porphyry copper-gold and epithermal copper-gold-silver exploration.
The airborne survey will provide data about geophysical anomalies arising from mineral trends and occurrences. These will be analysed and prospective targets will be identified. The geophysical “signatures221; of known deposits such as Ugur will assist identifying targets. Potential targets will be followed up with other ground-based geophysical investigative techniques including geological mapping, geochemical surveys and drilling. Depending on results, airborne surveys may be employed in the future at the Company’s other contract areas.
The survey is planned for the end of Q3 extending into Q4 2018.
JORC Resource and Reserve preparation
It is the intention of the company to update its Gedabek open pit resources and reserves in accordance with the JORC Code. Drilling work targeted continuity of mineralisation and all data subjected to validation in the database. Preparation for a Gadir underground resource is also underway.
Tailings Estimation
Data relating to the amount of gold and copper in the tailing dam has been compiled. This will be subject to an assessment for future opportunity to reprocess. Based on metals prices of $1,250 per ounce for gold and $6,300 per tonne for copper, a preliminary estimate of the net value is in excess of $30 million.
CONCLUSION
Exploration work is progressing well according to the overall strategy. During H1, 16,000 metres of exploration drilling has been completed and 7,017 metres of production drilling at Ugur and Gadir underground of a planned 40,000 metres for 2018 year.
The results have yielded extensions to certain deposits, identified new areas and where assay results are low, the alteration trends are indicative of possible deeper mineralisation. This information will be used to focus the interpretation from the planned geophysics programmes.
This wok forms the platform to the three-year programme to define the mineral potential of the Anglo Asian Mining contract areas.

[goldrush] 18/9/2018 09:54

bleepy

That’s what encourages me also.

It won’t take too long before other mining commentators pick up on the message the company is sending out.

Looks like the company is now determined to get the valuation of the company more properly appreciated and have the professionalism to now show the Resources we have.

Also looks like they are signifying, not just that the mine life can be extended BUT ALSO the production of yearly GEOs is going to go up.

Management Team are now showing they are highly professional, can deliver and can get the growth story on the road. Now to the Financials tomorrow and the Maiden Dividend....another feather in their cap....IMHO