Anglo Asian Mining Share Discussion Threads

[riggerbeautz] 12/6/2020 10:18

Aha Wan, AA. has a nice bounce, may settle now but hopefully next week will see it motor with pre AGM update.

[mattjos] 12/6/2020 10:03

most people mystified i think but, more and more people concluding that probably a very sensible decision to allocate % of personal wealth to Gold during these unprecedented times.

[pantsonfire] 12/6/2020 10:01

I’ve posted here a couple of weeks ago, and felt it worth repeating the message one more time. I really don’t want to bore you, so this will be my last time, unless I’m invited back…

I’m talking here of PXC, a copper/gold/silver/lead miner with significant resources in Idaho, USA. I’m not going to try to convince you, but do suggest you go look yourselves at the ample data they’ve published, and make up your own minds.

They’ve been active a couple of years, building up knowledge of the mineralisations in their territory. They started at the Empire open pit mine, focussed on copper with gold, but found a lower hanging cherry nearby, Red Star, with silver and lead, where they started a detailed drilling programme this year to be able to progress into production for end 2021. They have reported on ROI’s, but I comment that these are based on known resources, since their drilling programme has looked at less than 1% of the potential so far (you will see this written by their consultant geologist). As a result, their reports quite rightly undervalue the company SUBSTANTIALLY, in my opinion. And that is the risk, as far as I am concerned, the risk that the upside will be far, far larger than they can possibly present today. And if you invest, in my opinion, you invest because of the huge potential upside.

Their RNS’s earlier this year describe the work to date at Empire and Red Star very well. In drilling Red Star recently they hit on some new veins, and also determined that Empire had larger potential than they expected, so they went out to a recent fund raise to expand the drilling programme. They plan to use the proceeds:
o Diamond drilling at the high-grade Red Star silver / lead deposit
o Additional drilling and metallurgical engineering on the precious metals extensions at the Empire open-pit
o Gold exploration at Navarre Creek

There’s rightly a lot of focus on seeing the assays from the drilling on Red Star - originally the first few holes were estimated to come back in mid-June, so next week or week after, or today? And assuming maybe 3-5 holes announced each time that could be 4-6 RNS with each one every few weeks - so maybe one RNS every 3 weeks or so for the next 4 or 5 months? Plus of course they’ve promised an RNS on the much bigger resource in Empire. And another one talking about it going into production.

But with drilling and metallurgical work at Empire too that could be another few RNS's as well. And Navarre Creek and its gold should be good for another one or two RNS as well.

This share is going to be alive on news flow in the coming months, and which should start before the end of this month. It’s the classic risk vs reward, with a bargain price today, or increasing price as the results come through. It’s massively undervalued, in my opinion. Just do the maths. My guess it could go up 5 fold in a year, and maybe 20 fold in 2-3 years. I’m not kidding.

My suggestion. Read through the RNS’s and watch the videos. Then call the directors and quiz them. They are very open to discussion, I know. Then post here what you learn. Don’t forget though, the news flow is going to start soon.
If you have any questions please also ask them on PXC for others to answer aside me.

Good luck guys and gals! I enjoy reading the exchanges here.

[lefrene] 12/6/2020 10:01

Cinoib, I'm mystified by the current market activity, it's as plain as anything could be that we are heading into a massive slump. The elite are looking after their banker chums, but seem to be dragging their heels in helping 'main street', vast numbers of small businesses and their owners are being thrown to the dogs, the capital destruction will take many years to overcome. It's as if those on Capitol Hill don't understand the link between small local businesses, and the chains of suppliers and customers that keep people employed and the money going around.

Perhaps things are going to be allowed to get worse so that as we get closer to the November election a 'new deal' can be promised? Thus hoping to buy votes as each party pretends they have a 'cure' for the economic ills caused by the virus! (There's still no mention at all anywhere in the MSM of the hiccup in the Repo Market last September!)

[2sporrans] 12/6/2020 10:01

I know it's a tad simplistic but all the money has to go somewhere
and courtesy of the CBs the world is awash with liquidity now.

Sure, money can be destroyed, especially in the form of loans when they default.
And most 'money' is in form of loans.
This can translate into disinflation or even deflation.
The Fed has just said, in effect, it will keep pumping all the liquidity required
to prevent this happening in the USA.
This is echoed globally albeit more mutedly in Europe/Japan.

Powell, like the other c. bankers, wants to see more Fiscal stimuli.
He will be pleased with this pushback in risk assets in as far as it
is effectively the markets flashing the same message to the Politicos:
Spend more.

I'm not saying this pushback isn't the start of a 2nd downleg; i simply don't have any confidence in calling that or nay.
I was expecting a 2nd, deeper leg down back in April; it never happened.
The largesse has prevented it, so far at least.

I remain ~65% in cash.
Sold some stuff recently.
bought some back today.
not AAZ thus far; only as am already well overweight.

It looks to me that part of the equity pushback is a part reversal of the
recent switch towards cyclical and value shares; the banks being an obvious case in point as they hate it when the yield curve flattens as just has post Powell speech.

I don't think there is call for making any dramatic changes to one's portfolio
at this time.
Little more is known now than a few days ago.

[cinoib] 12/6/2020 09:50

lefrene, Yes is true but I want a small income at the same time as increasing my longterm investment, so I have to trade a little as well but finding that part of the game hard at the moment, as the fear of a crash like yesterday can wipe your trading fund in the space of a week or 2 so sitting on my small cash pile just now untill we see certain stability.

[2sporrans] 12/6/2020 09:38

That's an interesting and worthwhile observation LLB

[lefrene] 12/6/2020 09:27

Cinoib, AAZ does feel suspiciously cheap and there's no knowing why, but eventually value and quality gets recognised by the herd. Pretty soon there will hardly be a company left that pays a dividend, or producing something such that all of which can be sold instantly at a good profit. I know AAZ is small but if I was responsible for managing a small pension fund, I would certainly have a holding of AAZ both for it's income and it's inflation proof product. Indeed I cashed in a moribund pension plan of my own and put it in here, the capital has tripled and the dividend is many times what one could achieve in a deposit account, plus of course it's inflation proof. So let them play games with the price, but over time this is only going one way imo.

[cinoib] 12/6/2020 09:12

lefrene, or totally stupid, or worse manulating the share so they can buy cheaper.

[doc60] 12/6/2020 08:57

For those of you who like playing games, GAW 'flying' after a positive trading statement, I hold but don't play games 😊

Fri, 12th Jun 2020 07:00

RNS Number : 7385P
Games Workshop Group PLC
12 June 2020


GAMES WORKSHOP GROUP PLC

("Games Workshop" or the "Group")

12 June 2020


TRADING UPDATE ON CLOSE OF FINANCIAL YEAR ENDED 31 MAY 2020


Following the close of its 2019/20 financial year Games Workshop provides this trading update:


Operational update

Following our announcement on 28 April 2020 we have continued to re-open our operations globally, in line with local guidance, whilst ensuring our priority is the health, safety and wellbeing of our staff and customers.


Our warehouses are now operational and our factory is working in a limited capacity, at all times complying with the social distancing and hygiene requirements in each country. Trade and online sales orders are also being processed as these staff currently work from home.


306 of our 532 stores are now open in 20 countries, again in line with local guidance and subject to their local social distancing measures. Our stores will continue to re-open across the world as local restrictions are lifted.


Financial update

As stated previously, trading for the Group in the nine months to the end of February was in line with expectations. Since the outbreak of COVID-19 and the subsequent closure of our operations globally, our performance has been impacted. However, our recovery since re-opening has been better than expected.


As we have re-opened our sales channels as discussed above, we now estimate our sales to be c. £270 million and profit before tax for the year ended 31 May 2020 to be no less than £85 million. This includes royalties receivable from licensing which are estimated to be approximately £16 million. Our cash balance as at 31 May 2020 is estimated at c. £50 million and we have put in place a £25 million overdraft facility. From March onwards, given the closure of all of our operations worldwide, we claimed the applicable government subsidies to cover the period of uncertainty. However, in light of these results, we do not intend to make further claims and we aim to repay any amounts that have already been received, where possible.


In relation to the future performance of the Group, the board feels that it is too early to know what the continuing impact of COVID-19 is likely to be.


We will provide detailed information on the audited results for the 2019/20 financial year in due course.

[lefrene] 12/6/2020 08:43

There's straight forward value here, a market cap of £140m and a profit of £22.7m is a PE under 6.5, no debts £30 million and rising in the bank, with gold and copper trending upwards in a world drowning in fiat creation. Plus of course a remarkable management that has kept the business operating flat out through the engineered economic crash. Those selling AAZ must be desperate for cash.

[wanobi] 12/6/2020 08:39

yep ODR, never a bad thing from the LTH's perspective :-) Cheers Wan :-)


free stock charts from uk.advfn.com

[cinoib] 12/6/2020 08:34

Sorry chaps but I have seeen so many prodictions for this that and the other, it is better to wait and see what is actually going on and use your own judgement and hope you get it it somewhere close and don't loose to much when you do decide to bail out.
I see gold up and we're down so normal there then.

[stepaside] 12/6/2020 08:32

There's also always support around 120

[jbravo2] 12/6/2020 08:28

You got it mf
Much better placed and 70p is very unlikely again
We know the mine is still going.
We know they’re still paying divi
We know we can still sell our gold even if the usual planes have stopped

[onedayrodders] 12/6/2020 08:27

I guess the market weakness has forced the next gap down to be filled on TXP then

[wanobi] 12/6/2020 08:20

yep, I won't be doing much today, certainly not going to sit watching a sea of red and willing it up,,,, :-) LOL,,, been there, done that,,, doesn't make a jot of difference LOL,,, GLA Cheers Wan :-)

[laurence llewelyn binliner] 12/6/2020 08:18

What I have found interesting this week in comparison to end of Feb YTD is the overlay of the FTSE100 against POG, and the divergence this week, the index trend mirrored POG until Monday this week where the opposite happened, somewhat helped by stimulus QE/Bond buying/Interest rates/Helicopter money/FIAT erosion.... so to that extent, yesterdays sell off produced a different result to end of March, but was it a flash crash yesterday, or a precursor to how it is going to unfold going forward..

[riggerbeautz] 12/6/2020 08:16

Well expected red start and with Dow futures positive for now, things should calm in an hour or so. Will check back then.

[wanobi] 12/6/2020 08:06

aha, many thanx Indyanna, cheers Wan :-)

[indyanna] 12/6/2020 07:58

Wan the Avct RNS does not relate to a sale of any shares it is An event changing the breakdown of voting rights, therefore a dilution due to the recent placing that has put them under 5%

[pogue] 12/6/2020 07:56

Woodford holding is being sold across the sector.

[onedayrodders] 12/6/2020 07:47

Yep due to placing right ?

[pogue] 12/6/2020 07:41

ODR
ORPH is down as Woodford holding is still being sold down by Acacia will be gone next week.

[onedayrodders] 12/6/2020 07:26

POC.....IMHO I'd be worried about any prospect Peter Levine couldn't make work... it might be more about the business and location and not the ownerNo position but just did very well by PL on a foreign owned stock in Russia !