Anglo Asian Mining Share Discussion Threads

[wanobi] 15/7/2020 17:49

many thanx LA, soz, no, not looked yet, cheers Wan :-)

[wanobi] 15/7/2020 17:45

LOL Rb, I guess we are LOL, soz, cheers Wan :-)

[riggerbeautz] 15/7/2020 17:42

Brasso agree, you keep stacking buddy.

Jeanesy/wan you are like those naughty kids that always like to scare others aren’t you ;)

[donald pond] 15/7/2020 17:18

They are tweeting it now:

[donald pond] 15/7/2020 17:15

TBH I think the news that we will be digging into the dip down in Q4 is pretty significant. Worthy of its own RNS imo.

[cybernest53] 15/7/2020 17:04

Not sure "sack 'em off" is the best way to phrase that Jock but I would agree with the sentiment to ... ermm gett shot of 'em!! ;)

[bleepy] 15/7/2020 16:43

2s

From memory quite high grade ore was heap leached during early years and appears that process has left behind some tasty residual grade ore.

Again from memory it was mentioned many years ago that redundant leach pads contained some 90kozs gold and could/would be reprocessed at some future date.

Aaz have a few cards up their sleeve it appears to smooth the ripples out.

[blue_zulu] 15/7/2020 16:30

Matt - regarding the processing of the tailings. I emailed my questions regarding an update on this to Bill for the AGM but they forgot to include them. I have emailed Bill since then and he apologised for leaving them out and promised to get back to me within days but that was on the 30th June and I have sent another reminder but have not had a response yet. A bit disappointing to be honest from what is normally a professional outfit. Hopefully he gets back to me shortly and I will post the answers here.

[2sporrans] 15/7/2020 16:22

fwiw Matt

Hardman made these allowances i n their npv calc:

PV gold in tailings $18.855mn

PV copper stockpile $8.788mn

- i think the latter also contains gold but is something
other than the 100k @ 2g/t pile referred to in these Q2s.

The 100k heaps may even be, i think spoil from way, way back.....
The Siemens days.
We were advised of them a while back.
Potential access difficulties, as interspersed along fringe of the town.

Then again, maybe sommat else entirely.

As you of course know, gold was the byproduct when Siemens were excavating Copper Mountain
then smelting in the town to provide copper for the Tsarist telegraph cables.

[mattjos] 15/7/2020 16:12

& How much is sitting in the Tailings pond waiting for eventual re-processing?

[katsy] 15/7/2020 16:00

The 15x10k sells today, plus the same yesterday and loads of 5k sells tells me we have a seller. Until they're finished this is not going anywhere

[bleepy] 15/7/2020 15:58

Yes, the 100,000 tonnes of ore just needing transportation to process plant.

At start up I believe there were a few leach pads in use for many years prior to agitation and floatation plant being installed.

[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 :-)