Anglo Asian Mining Share Discussion Threads

[2sporrans] 17/5/2020 23:33

JB

I've edited my last post having dug out the [Feb 2007] initiation date for the fifteen year Development and Production Period for the main pit.
The expiry is end of FEb 2022.

Also edited my original post.

Apologies to all for not getting this right the first time.
Still, better late than never and still some year and 3/4 away.

edit:
Yes, well looked at the general Explo. RNS 24Feb20.
In there it gives the year for submission of the notice of discovery as 2008 for the main pit.
Hmmm, well having gone to the trouble of digging out the precise actual Feb 2007 submission date....dunno.
I'll stick with that.
There wasn't a RE-submission perchance?


Mine Year of submission Last year of permitted
of notice of discovery production
Gedabek 2008 2033
------------------------ -----------------------
Gadir 2012 2037
------------------------ -----------------------
Ugur 2016 2041
------------------------ -----------------------
Gosha 2012 2037

[e43] 17/5/2020 23:23

With gold just hitting $1750, and abit of news, sounds like an interesting week coming up,

[the stigologist] 17/5/2020 23:20

Great thread on AVCT from @AimHardy on Twitter tonight

The new new buzzword is Bi-Specific Protein Dimer

IF Avacta crack this we are looking at adding another Billion+ to the valuation

[jbravo2] 17/5/2020 23:17

Ah I see. Entirely reasonable.
Did you look at the 24th Feb RNS where they state the dates? Well the year anyway.

[2sporrans] 17/5/2020 23:13

JB

The AAZ website states, wrt the PSA for Gedabek CA, that the company holds exploration and mining rights for a minimum period of 15 years commencing 26Feb07.
That's how i came by the renewal date of 26Feb22.
You posted that "....the extensions need to be applied for at least 12 months before expiration of current period" which implied to me an application deadline of 26Feb21.
Matt posted to effect this is so.

I have had a 2nd take as to when the main pit mine life expires and now realise it must be earlier than the 2024 date i posted.
This is because the 15 year period ko from the date of submission of a declaration of discovery for the mine, not the opening of the mine as i had erroneously supposed.


From the June 2007 interims:
"The Company submitted a 'Notice of Discovery and its Commerciality' for the
Gedabek property to the Azerbaijan Ministry of Ecology and Natural Resources at
the end of February 2007. This notice initiated the fifteen year Development and
Production Period, with the potential for two five year extensions. Subsequent
approvals of the Work Plan and Production and Development Programme enable the
Company to proceed to construction."

Soooo, actually the main pit development and production period will expire at the end of February 2022.

I'll edit & correct my post accordingly.

[goldrush] 17/5/2020 22:50

Guys

Thanks for all the good work and information today re licences.

Re Ordubad I would think due to the remoteness of Nakhchivan from greater Azerbajan AAZ would want assurances of Azeri state guarantees for Ordubad. The Azeri Government desperately want Ordubad to be developed as has been stated from a number of sources. Historical ties to members of the government are also very strong. I would think this could be tied up in overall negotiations. This would be a stand alone mine with facilities so probably a major decision, with more detailed drilling to be done in the summer and an overall development announcement to be made next year.

This project alone could be the making of any mining company. Obviously there is nothing in our share price for this. Combined to our expansions in Gedabek, Gosha etc an expansion in Ordubad would definitely move us to mid tier status. IMHO.

[jbravo2] 17/5/2020 22:25

@callmebwana
That’s a good measure of confidence. If it makes you feel any easier I have a higher percentage. But then most people think that’s bonkers, so perhaps you’re mad like me.
As for your question... Well that’s the million dollar question isn’t it?
Not really sure but I suspect they were hoping to be able to buy AAZ. Problem is the price keeps going up. I suspect the company now looks like its worth a price Reza may have put on it in the past. Problem is, that is now the past and the hope they can do the deal at that price is history.
So then it becomes a question of would they be interested in any other counter offer Reza might put to them.
I’m not really worried about the PSA. There is no history to suggest being worried. In oil or gold or anything really. Let alone messing with a listed British company with an ex US Chief of Staff, with a US governor as a son being a major shareholder. The Azeri state really doesn’t need to cause any disruption for the sake of what is under 150m worth of company. And the excellent relationships that exist within the company and the state.
Doesn’t make any sense they’ll do us over. It’s peanuts. Small fry. No sense of proportion.


@2sp
No sorry, I disagree with that date. It clearly falls sometime in 2022 if the mine can be exploited to 2033. Not saying it can’t be done earlier, just it doesn’t need to be.
Agree on your thoughts about boundaries

[user2007] 17/5/2020 22:05

To remind AAZ who is the real boss and or possibly renegotiate terms of PSA. I doubt they would gain much by somehow forcing AAZ out and give it to Azergold or anybody else. Im sure all the drilling data aaz have is their property so any newcomer would need to start from scratch. Correct me if Im wrong here.There must be background negotiations going on and thats why also aaz keep their cards close to their chest.

[2sporrans] 17/5/2020 22:04

So, I've learnt that the Gedabek PSA application for time extension must be made by 26Feb21.
From what KS, Matt and others have posted recently, there's good grounds for thinking another 5 years on the PSA is almost a formality but I keep an open mind.
Likewise, it seems quite possible that the physical bounds of the contract areas may be extended; the case for this happening for Gedabek CA seems compelling to me.

Think of the prospects identified on the periphery, especially to the North and NE of the licenced area.
Most of the Zehmet target [spelling?] lies beyond the perimeter.
There are others to consider.
We know also that the Gosha mine mineralised zone extends beyond the CA boundary and more than 1 of the Ordubad targets to the W/NW.

More than this, I recollect Matt posting to effect there may be a contiguous mineralised belt extending from NE Gedabek CA all the way to properties owned by
Azergold but I'll defer to him to elaborate on that one.

JB2
I concur with your take on "mining properties"; just wanted something on the PSA in there as all the contractual stuff is so intertwined and with renewal dates drawing ever closer and who knows what 'ambitions' the Azerzi Politicos have for the gold industry and AAZ's 'role' in particular, the whole contractual and indeed ownership situation may see considerable....evolution.

[bamboo2] 17/5/2020 21:19

Re stigo, Amazing that some still engage and have not filtered!

[callmebwana] 17/5/2020 21:09

Stig, why try and wind people up ??
You are an intelligent person but you have that other side to your character
please try and overcome that side of it. I bet I know life a hell of a lot better then you.
To be humble is an achievement in itself. Anyway I will let you ponder over that.
ATB with AVCT. For you me and the others.

[callmebwana] 17/5/2020 20:57

Guys great informative posts by all and excellent info by JB2 and by 2SP. Thank you guys for that. Not forgetting Matt either.
Greatly Appreciated by me and others I am sure.
My question is just why would the Azari Gov. Inquire from their solicitors regarding the buy or sale of the PSA?
What do they have in their mind ??
I have quite a large holding, 70% of my portfolio is in AAZ. So in a way I feel justified in asking this question.
The BoD are great. Everything is fine LOM ,I am not conserned about at all.
It is just the PSA.
Perhaps Bill will clarify it this coming week. Well I hope so.
ATB.

[riggerbeautz] 17/5/2020 20:56

Bumpa your comment on EVG board a few days back, all change now my friend.

Never did see that morons thread comment, funny.

[mattjos] 17/5/2020 20:31

PSA extension application for Gedabek is next Feb/Mar, from memory .. hence, most likely we will announce commercial exploitable reserves at Gedabek by latest that date but, I am quite sure the company will get this flagged up well in advance

[jbravo2] 17/5/2020 20:17

@2sp
The dates for exploitation, for mining each "mining property" are all that matters IMO. They are not structured by CA at all are they? (I don't think a date exists as per your point 1 does it? Dates exist by for each "mining property")
I've taken my dates from the last time they were RNS'ed in February (see "Overall Progress of Exploration Programme" 24th Feb)

(Quick aside - I've had a quick re-scan of the PSA and found that the extensions need to be applied for at least 12 months before expiration of current period.)

I also agree that underground Gedabek and Ugur could reasonably be created as new "mining properties" and therefore start new production periods.


from the PSA
"Mining Property means each individual mining property, concession or interest as set out within the Contract Area."

[callmebwana] 17/5/2020 20:01

Great answer Bumpa. LOL.

[callmebwana] 17/5/2020 19:56

Appologise, double post again !! Must be my finger perhaps too much booze. LOL.

[bumpa33] 17/5/2020 19:43

Cmb - yep morons, we shouldn’t forget that should we?

Never seen catsick comment here since ‘that post’.

Funny that.

[the stigologist] 17/5/2020 19:13

Quod erat demonstrandum

[brasso3] 17/5/2020 19:12

If you do not have Stigologist on filter then maybe you are the idiot?

[oakey1] 17/5/2020 19:05

@stigologist just shut up mate you are an idiot