Anglo Asian Mining Share Discussion Threads

[jeanesy] 15/7/2020 15:57

Correct lefrene . It's good to see some people can still do the maths :) And that is at 2 g per tonnes so it will hopefully be more as they said greater than 2 g per tonne.

[mr roper] 15/7/2020 15:54

If you think gold will help you paying bills instead of a currency I suspect you’d be better of with a stock of guns and beans.

[lefrene] 15/7/2020 15:51

bleepy that's $12.7 millions at today's gold price, not to be sniffed at.

[jeanesy] 15/7/2020 15:47

Nice to see that even the 'waste' contains gold !

[bleepy] 15/7/2020 15:45

These measures also were not known at time of Hardman’s June report..

Around 100,000 tonnes of previously heap leached ore containing gold grades greater than two grammes per tonne has been identified. This ore, which was processed in the early years of the Company's life, will be recovered from the old heaps and retreated by agitation leaching in H2 2020. The final lift of the tailings dam wall is almost complete, which is releasing earth-moving equipment that will be transferred to this task.

[bleepy] 15/7/2020 15:39

Will be interesting to see update from Hardman as their start up estimate for Gedabek u/g was 2023 as below...

9 June 2020(some 5wks ago)
Going underground at Gedabek

With the production from the open pit almost certainly continuing well beyond 2025, it is now likely that an underground mine beneath the Gedabek open pit and Gadir could come onstream well before the former is exhausted. That assumes that an underground mine is economically viable, as we expect, in which case the 1Q’23 target for commissioning seems reasonable.

Tunnel linking Gadir and Gedabek open pit

Since 2017, AAZ has been constructing a tunnel from the Gadir underground mine towards a location about 100-120 metres beneath the backwall of the open pit at Gedabek. The tunnel’s purpose is threefold:
► to determine whether there is sufficient mineralisation to justify an underground mine beneath the Gedabek open pit;
► to assess the future potential for the Gadir mine, which would be integrated with a potential underground mine beneath the open pit; and
► to explore the geological relationship between Gadir and Gedabek mineralisation.

Underground estimate expected in 2021

The tunnel is about half-complete and includes drilling chambers to enable exploration. During 2020, further development should take the tunnel from reaching a point beneath Pit 4 to beneath Pit 6 of the open pit. AAZ is hopeful that an underground resource estimate will be forthcoming in about a year’s time, i.e. mid- 2021 with first production about two years after that.

As a result, we expect the updated resources/reserves estimate for the open pit to show both a conversion of resources to reserves and the addition of new resources.


Today’s rns reveals Gedabek u/g mine start up in Q3/20...

Measures to ensure FY 2020 Guidance is achieved
The Company is carrying out several measures to ensure the FY 2020 Guidance is achieved:

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.

[brasso3] 15/7/2020 15:31

Saint

I won't be using my gold, silver and BTC during any impending crisis. I will be saving it for afterwards. :)

saint in exile15 Jul '20 - 11:37 - 22746 of 22761

How do you use the gold to buy things with,pay bills etc?

[fozzie] 15/7/2020 15:12

I think you may be surprised on Copper bozzy. Electrification the new buzz term.

[jeanesy] 15/7/2020 14:59

If it was with an operation in Armenia ( I know that is very unlikely) or a neighbouring country it might. Let's hope not and things calm back down again. This has happened before but i don't think it was reported on quite this scale.

[bozzy_s] 15/7/2020 14:58

Unrest for several days, including when AAZ jumped 10p.

It's simply the underwhelming update causing this today.

[wanobi] 15/7/2020 14:56

I doubt it will affect the JV jeanesy,, let's see, my money's on the Armenians backing right off now and things settling back down again.... Cheers Wan :-)

[pogue] 15/7/2020 14:56

That did not look like a spontaneous protest somebody is rousing the rabble and getting them out in the same place at the same time find out who is doing that and you will be able to judge more clearly what is going to happen I suggest.

[inaminute] 15/7/2020 14:52

For reasons you outlined earlier I cannot see a war happening. It will not be up to the people demonstrating what happens next.

[jeanesy] 15/7/2020 14:50

News of unrest in the country close to the Armenia border is not helping either

[wanobi] 15/7/2020 14:49

In my humble opinion AZERGOV will not start a war,,, too much support for them around the world,,, however, if provoked badly they sure could finish a war with a defence budget greater than the entire budget of Armenia and friends like Turkey on the other side of Armenia etc etc,,, hopefully the Armenians will see how much the people of AZER want a war and back right off now!!!!! we shall see, fingers crossed, cheers Wan :-)

[jeanesy] 15/7/2020 14:48

Look at the reaction in shareprice qazwsxedc69 , it has done already !

[jeanesy] 15/7/2020 14:47

Down she goes again. Markets hate uncertainty and unrest in the country is not going to help AAZ'S shareprice. Plus we still don't know who the JV was supposed to be with . This may scupper those plans too possibly WAN ?

[qazwsxedc69] 15/7/2020 14:47

Jeansy your worrying knows no bounds! You must have a very nervous disposition. Some idiotic meatheads demanding war is not going to making any right minded person sell......

[bozzy_s] 15/7/2020 14:46

Yep those SPA forecast gold prices are very conservative. Copper looks a bit optimistic.

After the initial shock of today's update (gold -30% year-on-year in Q2) I totally trust AAZ to hit their re-affirmed FY target.

No mention of the imminent JV announcement. Someone already mentioned on here, perhaps that's lined up for later this week. Get the (everso slightly) bad news out the way, then boom.....

[katsy] 15/7/2020 14:46

There you go 2p spread! Suddenly buy this doesn't seem that attractive if H2 doesn't deliver

[jeanesy] 15/7/2020 14:44

That is certainly not going to help the shareprice of AAZ !

[wanobi] 15/7/2020 14:35

AAZ - blimey!!!



Thousands have demonstrated in Azerbaijan calling for war after recent deadly clashes with neighbouring Armenia.

Cheers
Wan

Phew!!!

Defence officials in Armenia and Azerbaijan said there had been no new fighting on their border overnight Wednesday, after several days of deadly clashes raised fears of a major flare-up.

[cinoib] 15/7/2020 14:16

Mattjos, did they say how many years they expect it to take to get to £2 as at this rate it will be a longtime yet.

[bleepy] 15/7/2020 13:18

2s

Typical and pathetic by SPA not even bothering to read rns numbers, just a cursory glance and stock reply.