Anglo Asian Mining Share Discussion Threads

[brasso3] 22/7/2020 11:39

Matt

What would we being paying for the deal in 6 - 12 months time when gold is above $2000/oz and there would have been other potential bidders interested? Look like a very cheap option and and cheap JORC reserves on the books.

[mattjos] 22/7/2020 11:36

anyway chaps .. let's stop the bickering please.
We've been free of it here for years and I really would rather not have any here.
We each make our own decisions.
Almost a guarantee that whatever strategy AAZ announced, there would be some with a negative viewpoint about it.
If we had gone out and borrowed / done an equity raise for $300m to buy a production-ready asset, folk would have been moaning like hell that insti's were getting in on the cheap & that we'd overpaid for such a thing.

Conroy represents a big future possibility .. we're paying just €2m option money to get them to raise their skirts and give us the opportunity to be i/c the future drilling activity and have first dibs on the data. At thus stage, that's all we are on the hook for. What it boils down right now is: Is it worth us paying the €2m for this?

Given our current financial position, it is probably worth a punt. It does not prevent us from doing all that we are currently doing and neither does it preclude us from continuing to look at other opportunities. It will tick along in the background and the data will either increase our confidence levels in the project & move ahead per the terms or, cause us to walk away.
worst case scenario, in the short-term, is we are down €2m & have expended some management time on it but, this is business .. you have to, at the very least, take a look else we'll not ever move ahead from here.

Deals done .. let's give management the benefit of the doubts and see where it leads in the next 6 months. It's neither a positive or a negative as at today other than clearly indicating that the company is not just sitting there and doing nothing. We are casting about and actively looking for value-enhancing opportunities, which is exactly what we want the company to be doing.

[saturdaygirl] 22/7/2020 11:23

Target 1878 with a little luck !

[klosters65] 22/7/2020 11:07

And the connection between the seller in the background and Conroy is? I don't know why, but you come across as being bitter

[cinoib] 22/7/2020 11:04

mad foetus, I know, believe you me which is why I am not a fan. Yes we are a very well run company, but conroy know how to change that, have seen it before, have a very good and long memory and obviously the seller in the background knows, hense the share price has been held back so long while gold has moved up $300. I only get the wool pulled over my eyes once. You long termers must do what you think is best, but I have a fixed amount invested and it has to work hard for me not sit earning 6%. Have already made that since removing my last stash from here, due to increase in p o g . Will keep an eye on it just in case AAZ find a touch of the Irish, but am not holding my breathe.

[mattjos] 22/7/2020 10:57

land, real estate, death duties, salaries, current tax rebates & the like .. these are all sitting ducks for governments to grab a part of in their efforts to pay for all this additional debt.

Look at what Putin has already done in Russia to find the CV-19 relief efforts - a 13% tax on interest received on cash deposits greater than $12,500.

He can at least do that in Russia where Central Bank Interest Rate is 5.5% …. that is fruitless exercise in UK, Europe, USA where rates are already at Zero so, our governments will be going after other things.

Gold is fungible the world over, it is transportable and much easier to hide than the fiat currency equivalent in note form. People are absolutely going to be buying Gold as insurance and the higher the price rises, the greater the perceived threat so, the buying will only intensify in response … gold is now in a positively reinforcing feedback loop & that's why I believe it will keep rising for the foreseeable future.

I cannot see how the UK government can / will be able to confiscate Shares from individuals .. for sure they will remove things such as the higher rate tax incentive on pension contributions and they will probably remove the Pension triple-lock but, I do not see how they can 'skin' shares from people.
Shares represent fractional ownership of a company, a separate legal entity & that entity may not even be domiciled in the UK. The UK government is not going to want the ballsache of being a fractional owner of hundreds of listed & private companies - that is a complete nightmare and totally unmanageable so, I believe there is sanctuary in listed equities for the PI & gold mining shares offer both safety and the opportunity for capital appreciation whilst all else is being skinned by governments

[gold finger 1] 22/7/2020 10:52

The thing is Cinoib i only post where i hold.
Best you have me on filter, it sounds like it's not good for your blood pressure reading my comments.
Your comments here have been irrelevant for many months now.

[mad foetus] 22/7/2020 10:37

Cinoib If Conroy was a well run company it would have moved into production long ago. The reason AAZ can add value is precisely because the current management don't know how to. CGNR didn't sell 55% of the company for peanuts because they wanted peanuts, but because they wanted AAZ's experience and expertise in bringing assets into production without massive dilution

[bonio10000] 22/7/2020 10:33

37878

If that is the case then why hold gold?

I'll take my chances.

[bleepy] 22/7/2020 10:31

H1 exploration due next and already we’ve been given a snippet...

It is anticipated underground mining of Gedabek ore will begin in Q4 2020. 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. This is some 2/3 yrs earlier than projected again demonstrating their ability to fast track from exploration to production.

Adding to high grade ore from Gedabek u/g Q4, 100,000 tonnes of previously heap leached ore containing gold grades greater than two grammes per tonne has been identified and will be recovered from the old heaps and retreated by agitation leaching in H2 2020.

A number of ore bodies have been identified crossing the boundaries of the Gedabek acreage which entitles Aaz access to explore and mine these continuations. Had crossed my mind if Aaz and azergold share the same ore body then it would certainly involve govt discussions to resolve.

Regarding psa extension, the only prospect due for renewal is Gedabek open pit as all other prospects have long lead times. The application for psa extensions are formality and under the agreement 2x5yrs is the next stage.

5 new discoveries announced leaving a further 27 exploration targets on the ZTEM programme to be explored.

Last Qtr saw production from Gosha u/g mine with exploration looking promising to extend the mine. Exploration ongoing targeting other areas of Gosha.

Ordubad with $1.25m already spent on exploration is another jewel that Aaz are engaged in.


Not forgetting the jorc updates expected end of this Q3.

[ilostthelot] 22/7/2020 10:23

Mattjos22 Jul '20 - 10:15 - 37875 of 37877

Bang on!

[katsy] 22/7/2020 10:23

Conroy shareholders obviously like the deal, up 15% today..

[11_percent] 22/7/2020 10:22

Its ok, I have other dealing accounts.....its just a bit of a pest.

[ilostthelot] 22/7/2020 10:21

Silver has also broken out of a multi year consolidation.

I plan on trading it now it has broken out - buying the dips.

Reckon we'll see silver playing catch up now.
$100 per oz of silver anyone?

[mattjos] 22/7/2020 10:15

Gold is setting up for a BIG, BIG 9 year bowl pattern with $1,900'ish as the Left & (soon) Right hand peaks.
There will inevitably be consolidation at $1,900 after the first run up this year to that level, before it goes again and breaks that level.
Everyone is going to buy that new ATH when it is confirmed and that additional buying energy + the underlying energy form such a large & powerful bowl is going to propel Gold much, much faster than people currently predict.

Personally, I think people are plain daft if they don't have significant exposure to the Gold sector right now.

some of these Gold miners are going to be racking up cash in an almost embarrassing fashion & Dividends are going to be very significant & so too M&A Activity

[bonio10000] 22/7/2020 10:12

If it hits $2,650 I will be retired and my AAZ will be as relevant to me as the Irish option.

[mattjos] 22/7/2020 10:08

Thanks Brasso … the chart has consistently done pretty much exactly as I expected ever since the 2015 lows were confirmed & this mnore recent move is a clear break upwards from a rising wedge - for me this says Gold is now running on a higher gear and this new higher rate of upward momentum will continue.

$2,650 is still the destination as far as I am concerned, both traditional TA and EW theory arrive at the same destination. I cant comment on when that will be reached exactly but, reasonably comfortable that it will be quicker than many people currently forecast

[wanobi] 22/7/2020 10:00

aha,, I see, that makes sense as mine is not in drawdown, thanx for clarification 11%, sorry to hear its caused you a problem today, cheers Wan :-)

[11_percent] 22/7/2020 09:58

H-L website

Called them.....its down for people with a SIPP in drawdown.

[gold finger 1] 22/7/2020 09:57

It seems that some new posters have turned up,along with those that have sold to just find any negative they can to post.
Conroy have spent many years looking for gold they say, they have diluted their shareholders to death, they would not touch them with a barge pole. Well some say they did and got burnt it seems.

Well yes we can see their history. They are pot less fact. Why do you think we have got in at such a good price. Look at AAZ a few years ago, 4p a share, they were lucky they had someone to loan them 4m.Conroy have been living from hand to mouth for years. This is a good deal for both. For them 45% of something,is better than more dilution and possibly nothing.

Nothing in life is certain, spending a few million could be the best deal AAZ have ever made,time will tell. But the management would have done their homework,that for sure.

Its better to use that money in the bank,than having it sat there doing nothing.AIMO.

[jeanesy] 22/7/2020 09:42

Looks like Ppm's are heading down this morning after there overnight rise. I see that the price of silver was up over 22.5 but now down to 21.5 now. Gold didn't rise that much and now the silver to gold ratio has closed somewhat as some on here said it would. Price of copper taking a bit of a bashing after its recent rises.

[brasso3] 22/7/2020 09:33

Matt

I have to compliment you on your gold price charting over the years. You have nailed it!