Anglo Asian Mining Share Discussion Threads

[wanobi] 15/7/2020 08:17

YIKES, we'll just have to wait for end of July and then JORC In Sept now :-),,, oh well, oh what a game this is LOL GLA Cheers Wan :-)

[bonio10000] 15/7/2020 08:17

Well, that's ballsed 140p this year

[jeanesy] 15/7/2020 08:16

. MM's robbing people blind. Spread 10p .. ridiculous!!

[supercity] 15/7/2020 08:16

Comical reaction with the share price compared to HOC whose update was far worse.

[qazwsxedc69] 15/7/2020 08:11

Interesting to see some LTHs talking down a company for which nothing has changed assuming they pick up the H2 slack as they have stated they will.Not hard to see that some have sold out and looking to get in cheaper.

[riggerbeautz] 15/7/2020 08:08

Going to be sales at AAZ

[jeanesy] 15/7/2020 08:07

Down she goes !

[donald pond] 15/7/2020 08:04

I guess my point is that we have been asking for a production increase for a couple of years. Then, suddenly, when there's a shortfall in H1, there are a couple of options presented pretty quickly to add 5-10k production in H2. It just makes you wonder what they could do if they were a little less cautious.
As others have said, with the price of gold so strong, now is not the time for caution. Less of the take your time, more of the hurry up.

[2sporrans] 15/7/2020 07:56

dp

i'd be wary of extrapolating the advanced main pit u/g extractions into Q1 etc.
The ongoing development of the u/g mine may well conflict with the production, albeit
the 2nd, independent access being constructed will get around that somewhat.

but
could be further stcokiles to hand.
+what about the 'Bluffs' or whatever they are called, adjacent to the main pit?
There's a handy reserve there too.

[goldrush] 15/7/2020 07:55

Donald pond

That was my thinking also that accessing the dip down means next year as you say all things being equal it could be 85k to 95k and if they wanted could get to the magic 100k.

[droyden] 15/7/2020 07:55

The preparation of the H1 2020 geological exploration report is currently underway and the Company expects this to be released around the end of July. The Company can confirm the new JORC resource and reserves statements are still expected to be released by end of the current quarter (Q3 2020).

Edit Yes headline numbers are down, so despite being almost 30mil in cash no doubt we will still see our normal sell on news

[jeanesy] 15/7/2020 07:53

Overall production figures are well down at AAZ . They have explained why but im expecting plenty of selling this morning WAN.

[ianguerin] 15/7/2020 07:51

Double post

[ianguerin] 15/7/2020 07:51

No doubt the press headlines will be about the falling production & average grades, with little mention of the almost $400 per ounce increase in the sale price. Cue for more sells ?

[donald pond] 15/7/2020 07:48

On fundamentals the share price here is so cheap any selling would be daft, but its always possible. The figures from Ugur are disappointing, but it is noticeable how easily the shortfall can be picked up by going into the dip down.
I think Ugur has been acting as a safety blanket, and has stopped the company being a bit more ambitious. If the shortfall there accelerates bringing higher grades into production elsewhere, that is a very good thing imo.

[donald pond] 15/7/2020 07:42

So, 32,500oz in H1, but on target to hit 75-80k for the year, so that means 42,500-47,500oz in H2.
Up to 8,000oz could come from the previously leached material (100,000 tonnes at over 2g) but I doubt that will all be processed in Q4, which indicates better grades to come and the new access into the dip down having a material impact.
But, here's the key thing. I can't see any reason why, once we've got access to the dip down, that shouldn't continue into next year. There's surely no reason why 2021 shouldn't match 2020 H2 is there?
Which would be 85-95k oz.

[henwii] 15/7/2020 07:39

Shown by the 30% drop in production, gold grade being 6% lower for heap leaching and 23% lower for agitation leaching.

[2sporrans] 15/7/2020 07:38

Hmmm... well the production targets are still anticipated to be met, that's the main
thing i guess.

"The lower gold production than the previous quarter was also a result of lower than anticipated gold grades."
If you look at the production table - the one for gold split by pit source - it's clear that although the main pit output was a good bit lower than Q1, the grades were actually significantly higher; the main 'culprit' is Ugur.
The tonnage or ore extracted was less than half that for Q1 !!
+ the av. grade fell from 1.08 to 0.79 g/t; that's very disappointing.
Ugur already looks to be on last legs; I'd taken it that it would be at this stage much later, by Q1 or even Q2 next year.

The under ground mines actually contributed well.
Ore extracted out of Gadir up ~30% with decent grade and nice to see a significant output from Gosha at 2.5 g/t.

AAZ will surmount these difficulties I expect, with the preliminary underground
working at the main pit.
+ this is where those reserves of stockpiles come in really handy:
"Around 100,000 tonnes of previously heap leached ore containing gold grades greater than two grammes per tonne has been identified."
So, will fill a gap from the main pit / Ugur production during Q3 while this is going on:
"A new portal has been opened and a new decline is being constructed of approximately 500 metres to access the high-grade extension of the ore body under the main open pit. It is anticipated the decline will be completed around the end of the current quarter depending on the hardness of rock encountered. It will join the tunnel currently being constructed from the Gadir underground mine to give the two egresses required to commence mining. It is anticipated underground mining of Gedabek ore will begin in Q4 2020"

Looks OK to me but I'm expecting there will be a load of selling on this news, overwhelming what buys pop up.

Not welcome obviously but will generate a fine buying opportunity imho.

[henwii] 15/7/2020 07:34

yup, reading between the lines these people are tired.

[wanobi] 15/7/2020 07:31

Gilbert has voiced remarkable confidence in her chances, saying the Oxford vaccine has an 80% probability of being effective in stopping people who are exposed to the novel coronavirus from developing Covid-19. She has said she could know by September. Asked by MPs in early July whether the world would have to struggle through the winter without a vaccine, Gilbert said, “I hope we can improve on those timelines and come to your rescue.”

Cheers
Wan :-)

[jbravo2] 15/7/2020 07:25

Working since March without rotation... man that is tough. Don’t forget we’re 7 days a week.
Well done and thank you to them all.
:|

[mad foetus] 15/7/2020 07:11

The fact that they are looking at the dip down an tailings to increase production is good. I just wish that had been part of the plan all along!

[jaspoland] 15/7/2020 07:09

Well the more they leave in the ground the more it will command in H2 when dug up. Cash continues to grow.

[supercity] 15/7/2020 07:09

Drop in production in the first half as expected with Covid-19. No change to the full year guidance.Just looked at HOC and their production is down nearly 70 percent and debt up so all in all AAZ has faired well coping with the pandemic and increasing its cash position.