Anglo Asian Mining Share Discussion Threads

[mad foetus] 11/8/2020 11:24

H1 production was 33k and we are on course for 75-80k for FY. With the dip down contribution in q4, I wonder what q3 will bring and what that might mean for 2021. Could we get to 100k then?

[ilostthelot] 11/8/2020 11:08

"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."

This decline will define whether we meet the production target for the year or not.

[allseeingeye1] 11/8/2020 11:05

Published just now on ShareProphets

Returning after a previous profitable recommendation of shares in Anglo Asian Mining (AAZ), in July with the shares at 140p we noted current mines potential but also a geological exploration programme continuing with success. Now an “H1 2020 Geological Exploration Activities” update…


In the Gedabek Contract Area, the company emphasises “13 surface core drill holes and 25 reverse circulation drill holes with a total length of 1,473 metres completed at the Avshancli mineral district… Initial drill programme started at Gilar… Both Avshancli and Gilar will be explored by ground-based induced polarisation and magnetic geophysics in the second half of the year”, “substantial drilling completed at the Gadir and Gedabek underground mines… give increased geological confidence” and “new mineralised area identified between the Gedabek open pit and the Ugur open pit – Zafer”.


Also in Azerbaijan, there is the Gosha Contract Area “2,980 metres of core drilling completed confirming the extension of mineralisation with significant gold grades of up to 15 grammes per tonne… A new geological map of the Gosha contract area was completed… 15 porphyry and 13 gold/lead/zinc mineralisation targets identified” and the Ordubad Contract Area, where COVID-19 related restrictions hindered but a trenching programme continued and the company is now prioritising locations for resource drilling which is planned in the current half year.


The company’s Director of Geology & Mining, Stephen Westhead noted “look forward to expediting the work in the second half of the year to deliver further positive progress” and this is with also a recent provisional agreement for a “first enterprise outside of Azerbaijan” and current Azerbaijan production for which full-year guidance is for 75,000-80,000 gold equivalent ounces.


As noted on re-recommendation, even a $750 margin on 75,000 ounces is more than $56 million. Although there are some current production challenges, there has also been gold price upside since then and we continue to look for a 200p+ share price (a £230 million+, approx. $300 million, market cap). At around 160p and at up to 165p, the shares are still a buy.

[xow98] 11/8/2020 10:58

TW at Shareprophets

As noted on re-recommendation, even a $750 margin on 75,000 ounces is more than $56 million. Although there are some current production challenges, there has also been gold price upside since then and we continue to look for a 200p+ share price (a £230 million+, approx. $300 million, market cap). At around 160p and at up to 165p, the shares are still a buy.

[mad foetus] 11/8/2020 10:20

I put in an order yesterday to sell some gold funds in order to fill this years isa for me and wife. Probably take a week to get clear funds so some consolidation would be ok for me. BUR at 200 DMA again...this time???

[mad foetus] 11/8/2020 10:07

The CGNR JV should increase news flow and hopefully we will get info on progress into the dip down. Also the next dividend is going to be interesting. The company has too much cash right now unless it has other plans afoot. Which I'm sure it does

[lefrene] 11/8/2020 09:53

GG, they're probably still trying to decipher the last dense rns! Shouldn't take them more than 6 weeks :¬)

[wanobi] 11/8/2020 09:52

yep, I expect my DSV buy of yesterday to look a bit sick later on today based on the price of silver drop today LOL,,, oh how I wish I'd waited just one day LOL LOL,, landed straight on a snake and will have to just sit and watch it slide down the board,,, such is the game,,, but,, I will not be selling whatever, DSV is tucked away for the LT and I shall not care what the price does today, this week, this month or next :-),,,, talking myself tough here chaps, please ignore me whilst I get my head-space sorted LOL LOL,,, GLA Cheers Wan :-)

[jeanesy] 11/8/2020 09:43

I am sure that there will be some profit taking going on today by some with the price of gold now below 2000 and silver down too. Could be some other potential top up opportunities arising soon .

[goodgrief] 11/8/2020 09:33

ilostthelot11 Aug '20 - 08:56 - 38841 of 38843

Jbravo the company will probably have to spell it out to the market and then we'll say that step change.


Wonder how that communication strategy being developed by Blytheweigh is coming along? They signed a contract with them last September. Haven't seen much fruit from their labours!

[mad foetus] 11/8/2020 09:24

BTW if you want a great listen that is a little challenging but gives a plausible view of the future I recommend this completely https://podcasts.apple.com/gb/podcast/the-grant-williams-podcast/id1508585135?i=1000486918326

[mad foetus] 11/8/2020 09:11

JbI don't doubt AAZ will do well, but I've got a few holdings that have much more traction right now. If I could sell and buy here in 100k lots I would but that's not an option obvs. So I will sit and wait but it is frustrating

[ilostthelot] 11/8/2020 08:56

Jbravo the company will probably have to spell it out to the market and then we'll see that step change.
This should be over £2.50 just now.
Like you say paitence will be rewarded.

An increase in dividend will also be welcomed while we wait.

[wanobi] 11/8/2020 08:54

I just knew you would cmb :-) LOL,,, top man, well done :-) cheers Wan :-)

and yes, clearing the trees with a fire should make the explo easier and hence I conclude the share price should have risen on this news LOL LOL :-)

[jbravo2] 11/8/2020 08:52

Oh dear Donald.
I fear you’re not cut out for this.
You’d never have lasted the journey when fortunes were made and missed out on.
This will achieve a step change again sometime, just need patience to be involved.

[callmebwana] 11/8/2020 08:52

Good morning all.
Yes I managed also to do a top up in PUR but I paid £1.03. I don't mind at all. The purchase is already in profit.
Just because there are small forest fires! LOL ,the gold is in the ground there. 🙂

[katsy] 11/8/2020 08:45

Gravity is strong with this one

[onedayrodders] 11/8/2020 08:35

Healthy pull back on PM's and all part and parcel of a sustain bull run.
It's clearing the way for a $30 handle on Silver possibly as early as this week.

Regardless it's just around the corner if not this week.

IMHO

ODR

[2sporrans] 11/8/2020 08:33

Hard work getting in a buy but succeeded in 2k for 150p.
There was only 100 shares going for that on quote but a limit trade worked.

The H1s weren't all I'd hoped for, even in the circumstances; but neither were they
a reason to be discouraged methinks.
As for the POG, well back in January AAZ traded 150p and above and what was POG then?
At that time AAZ's forecast POG to accompany it's production targets was $1480/oz.

[jeanesy] 11/8/2020 08:32

Got a quote to buy some more PUR at 1.02. Like you WAN was hoping for sub 100. I was greedy so declined . now back up to 110 !

[fozzie] 11/8/2020 08:28

I missed out sub 100 as well, what a gift. Still I managed to pick some up slightly above that and very happy to have done so. Roll on Xmas and first gold.

[wanobi] 11/8/2020 08:27

well done MF, needless to say my orders never got filled,,, was a no brainer on that RNS with that mark down,,, I shall have to refund the SB account for future events like that I guess,,,, :-) LOL Cheers Wan :-)

[avsome1968] 11/8/2020 08:26

oil future target maybe

[donald pond] 11/8/2020 08:25

Have to say, I'm getting bored here. But the more bored I get, the better the value is.
Can we have some excitement please? Thought we were about to get busy last week and all.

[mad foetus] 11/8/2020 08:16

I got on a bet at 99.25