Anglo Asian Mining Share Discussion Threads

[riggerbeautz] 06/5/2020 19:18

ODR yes you were right to, Bumpa too has all the hallmarks as many of us know.

After a few months wait, finally get another turn out of LRA, being greedy for a little bit more but anything between 70-76c feels like a good result now.

[mattjos] 06/5/2020 18:34

Er yes, as it turned out, such qualities were quite essential Brasso. did mean that we never saw much of Baku in the daylight though.

[mattjos] 06/5/2020 18:31

Bleepy ... they indicated they did already have the next tailings site identified when we visited &, I agree, it would make sense to try and re-process the tailings as they move on to the next site .. assuming the new site is lower than the current site.There are so many, many unknown possibilities just now. I'd like to the strategic priority list as it stands right now and understand what the dependencies and critical path is to each.

[brasso3] 06/5/2020 18:29

Matt

I thought a good stomach for alcohol and some pool skills were essential for the trip!

[the stigologist] 06/5/2020 18:27

LOL a serial flirter with bankruptcy

The previous incarnation of Ince & Co had entered administration at the end of 2018 and then Gordon Dadds acquired the business for a total of £27.3m in a pre-pack deal.

[mattjos] 06/5/2020 18:27

Tradeforce, not sure there is a criteria as such. It just kind of happened at a time that worked for the three of us & the company.I am sure the company would be delighted to have other shareholders visit & they had spoken about a more formal trip but, events have overtaken us all.It's not a cheap or quick or easy trip to make though & that in itself may well dissuade many + its an operational mine & whilst the threes of us completely enjoyed every second of the visit, I very much doubt going underground at Gadir would be to everyone's liking.Sadly, its most unlikely to be even a remote possibility for a very, very long time now.

[wanobi] 06/5/2020 18:13

aha, TXP - RNS - North Energy ASA, Oslo, Norway, been selling.... happy days :-) GLA Cheers Wan :-)

[wanobi] 06/5/2020 18:08

not at all, many thanx to you jbe, for pushing me to look at this,,, cheers Wan :-)

[onedayrodders] 06/5/2020 17:49

Riggerbeautz
6 May '20 - 15:30 - 18838

indeed Rigger .. I did caution last week that it reminded me of the Internet bubble and whilst there was money to be made, to make sure you dont get left holding the baby.

[bleepy] 06/5/2020 17:46

There is an estimated $30ml of metals in the tailings dam.

Is it at all possible to drain/dredge/process the tailings dam whilst in use for the obvious economic benefits and provide additional capacity for continued use.

The team have demonstrated on numerous occasions their innovative thinking and design with world class publications to their credit.

[wanobi] 06/5/2020 17:42

the seller :-) Cheers Wan :-)

[tradeforce] 06/5/2020 17:39

Out of interest Matt, is there a criteria of shareholding to join the club to visit or is it just a select clique? I have had a passion to visit our mine since early on in the journey(although I only started at around 40p) and would love the chance to meet a few other owners on site...

[wanobi] 06/5/2020 17:38

big fall was Jan 14-15th; cheers Wan :-)

From Law Gazette

Shares in City firm Ince & Co fell sharply today as the company sent out an immediate call for extra finance.

The money will be raised by selling shares at a reduced price and spent partly on reducing debts.

The group today announced an 'accelerated bookbuild' to raise a minimum of £12m through the conditional placing of new ordinary shares at a price of 45p a share.

Ince also proposes to raise a further £4m through offers to qualifying shareholders and staff members, with each group able to subscribe to 4,444,444 new ordinary shares at the issue price. The issue price represents a discount of 49.4% to the market price at close of business yesterday.

The proceeds of the fundraising will be used to reduce the amount of the group’s drawn down working capital facility and for general working capital to cover the company’s expansion.

Ince says it wishes to continue with its programme of partner recruitment, especially in the overseas offices to bolster and enhance their existing practices.

But the completion of the fundraising is conditional upon shareholder approval at a general meeting of the company, expected to be held on 3 February.

Today’s announcement had an immediate impact on the company’s value, with shares dropping 47% by 11am to 47p.

By 11.30am on the day of the bookbuild announcement, the company reported it had been completed and subsequently closed, with £12m raised through the placing of around 27m shares with certain existing and new institutional shareholders.

Chief executive Adrian Biles said: 'The funds raised will ensure that the group can continue to capitalise on market opportunities, including new lateral hires. The group has recently been joined by a number of very high calibre partners and fee earners and we are on track to deliver outstanding growth.

'I am very pleased that so many of our existing investors and some new institutional shareholders have supported this fundraise albeit at a significant discount to the market price of the company's shares, which is an unfortunate feature of the current market conditions.'

Biles noted that the share placing marks the completion of the Ince merger with Gordon Dadds. London-based Gordon Dadds had already listed on the stock exchange before it rebranded as Ince & Co last May. The previous incarnation of Ince & Co had entered administration at the end of 2018 and then Gordon Dadds acquired the business for a total of £27.3m in a pre-pack deal.

[mattjos] 06/5/2020 17:32

I'm sure there will be more to come from the Gedabek area. This shows the main pit and processing area on the left, Ugur in the middle and on to Slavyanka (the new area they are exploring)

[jbe81] 06/5/2020 17:31

Thanks Wan

[wanobi] 06/5/2020 17:31

yep, it's got my attention for sure :-) Cheers Wan :-)

[jbe81] 06/5/2020 17:30

Chart could become interesting

[wanobi] 06/5/2020 17:30

yes, been doing some research and saw that,,, I do like the look of the chart as a recovery play jbe,,, I shall read on,,, many thanx for heads up on it... MF is on to it :-) excellent,,, Cheers Wan :-)

[jbe81] 06/5/2020 17:25

Ince, am hoping its oversold, the seller has finished and should recover. Directors recently bought at 45p, have only started looking at it today.

[wanobi] 06/5/2020 17:13

what's the scoop on INCE jbe ??

many thanx

Cheers
Wan :-)


free stock charts from uk.advfn.com

[wanobi] 06/5/2020 17:13

no problem jbe, I mean't to do them earlier for you,,, cheers Wan :-)


free stock charts from uk.advfn.com



free stock charts from uk.advfn.com

[jbe81] 06/5/2020 17:08

Wan , can you do a chart for INCE please

[wanobi] 06/5/2020 16:55

yep, very wise Rb,,, I am holding free carry positions in AVCT & 4D now,,, with a further position in MPH,,,, all 3 I intend to hold for the LT to see how they turn out,,, and not worry about them crashing if that's what happens,,, the problem I have is that they all have great long term potential, but have been set alight by their cv-19 potential, so it's very difficult to value them based on their pre-cv19 potential right now,,, but, for me, in all 3 that LT potential is there and I'd even considering averaging down post-cv19 should they be fallers,,,, mind you should the likes of AVCT hit the jackpot, then I shall be very happy too.... trying to get a win-win position on them, if that makes any sense to you :-) :-) just my way of playing this particular cv19 hand :-) Cheers Wan :-)

[mattjos] 06/5/2020 16:52

Itching to go back to Gedabek and see the progress & also to visit Ordubad .. hope we get the chance again at some point in next 12 months

[mattjos] 06/5/2020 16:47

Mid picture, to the left, is the white building where food is prepared for the Ugur crew.

We stood by that building and looked down into the UGUR pit and took the photos in the header.

The haul road, back to the processing plant, snakes up out of the pit and exits the image top left

This one from different viewpoint and perspective