Anglo Asian Mining Share Discussion Threads

[gold finger 1] 01/9/2020 08:26

Lefrene

I dont even care anymore.
Millions dropping into the bank every week.
The market wants some news,not just positive news like they have been given for the last 12 months. They want some ground breaking news it seems.

[jbe81] 01/9/2020 08:23

Should be a good week for ARB, August's numbers should make good reading

[lefrene] 01/9/2020 08:16

Gold up copper up, guess what isn't up?

[wanobi] 01/9/2020 08:12

awesome pogue, you hit the jackpot this week with SAGA, nice pick, well done :-) Cheers Wan :-)

[wanobi] 01/9/2020 08:00

wowzer, thanx for heads up jeanesy, cheers Wan :-)

Firm placing of 224m new ordinary shares representing 20% of the current issued share capital of the Company, to be issued at 27p per share, a 98% premium to the 13.61p closing price of Saga shares on 28 August 2020, reflecting his belief in the underlying strength of the Saga brand and business and his confidence in the new strategy under the strengthened management team. This would contribute GBP60.6m of the proposed GBP150m capital raise;

[jeanesy] 01/9/2020 07:51

SAGA fundraise at 27p as opposed to shareprice of 13.6 p !

[tolga1] 01/9/2020 07:49

Yes Wan
you need a team of investors to keep you up-2-date and possibly you may want to consider running your Wanobi Trust Fund

[wanobi] 01/9/2020 07:46

well done tolga1 & good point,,, it's a tricky one as I can't track & post everything out there, so I thought Gold, Silver & Brent most obvious & useful for most who look in here,,, let me think about it,,, also BTC, copper, Zinc etc :-) cheers Wan :-)

[tolga1] 01/9/2020 07:41

Good morning Wan
appreciate your update of Gold, Silver and Brent
I think we should seriously consider looking at cryptos as well in particular Ethereum.
Ethereum was always lagging Bitcoin, but for a strange reason it is making a stronger move
I went into Eth at 380 and now 465
Keep well

[wanobi] 01/9/2020 07:24

Good morning, Good luck and the very best of health to all, cheers Wan :-)

Nice pic SuW,,, :-) many thanx for posting it here, cheers Wan :-)

Great work odsjp, well done and thanx to all participants, cheers Wan :-)

Gold at 1985 :-),,,, oh er, 2000 here we come again!!!

Silver at 28.68 :-),,,,, oooh eeerrrr, 30 here we come LOL LOL :-) !!!

Brent at 45.75 :-)

Cheers
Wan :-)

[leopoldalcox] 31/8/2020 21:56

Odsjp, could I take SLP please? I think results are out tomorrow and should be knockout

[jbe81] 31/8/2020 21:16

I will roll Odx this week please

[odsjp] 31/8/2020 20:42

Last few changes incorporated. Good luck everyone...



Week 5 - Start

[someuwin] 31/8/2020 20:11

Touchstone Explor. @TouchstoneExp 21m

Wondering what it looks like at Chinook-1 right now? Here is a picture of the drilling rig from a bird’s eye view. #Exploration #Drilling #TXP

[wanobi] 31/8/2020 19:10

yep, agreed, many thanx avesome,,, cheers Wan :-)


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[onedayrodders] 31/8/2020 19:00

Silver leading Gold today .. very bullish

I'm expecting $30 Silver within the next 1-2 weeks.

[pogue] 31/8/2020 18:38

avsome
cheers I will look at Amigo sounds interesting. I think that's what the competition is for not to win but to give others ideas, least ways that what I am saying as I have lost money 3 out of 4 weeks lol.
Seriously I have not looked at Amigo so will look further now I have the basics

[2sporrans] 31/8/2020 17:54

German inflation for August, 0% or slightly -ve, depending on how is measured.

Ok, so VAT cut pushed it down a tad but the message is that Eurozone inflation is very subdued looking ahead and deflation quite possible over Q4.
And then some dire Italian stats out today; Q2 GDP down 12.8%; worse than previously thought.

All the more QE and maybe a 2nd round of EU cojoined fiscal loans/gifts i guess.

[gtaval1] 31/8/2020 16:55

US dollar is flirting with that 92 again...

[2sporrans] 31/8/2020 12:00

Hi Jeaneasy

AAZ state in their reserves report [Jan. 2019] for the main [open] pit that the cut off grades, for inclusion in resource assessment, were:
0.2 g/t gold
0.2% copper.

The grades which will actually be economic to mine will vary as:
Type of pit. [open or underground]
How deep.
Rock type.
Method[s] of processing.
Proximity to plant.
and more.

Including the POG.

I think that when AaZ were assessing on basis of an assumed long term POG average
of £1250/oz [as were until as late as mid 2019], it was considered that
a cut off gold grade of 0.3 g/t was applicable if the ore was purely gold
[i.e. not largely copper + some gold and hence feed for copper concentrate via the flotation process] and hence destined for dore production.
That would be either via heap leach, for the lowest grades or via the Acid Leach plant for the higher grades.
So, there is a further cut off grade for whether gold ores go via HL or AL, which i can dig out something specific for you if you'd like me to.

AAZ assumed in the above report that they would achieve 75% gold extraction from ore
through their AL process and 60% for heap leach, though that might fall to as low as 40% for the lowest grades ["Run of Mine"] such as typically come out of development work to access the stopes [the targeted ores].
I believe they have achieved well above this.
For sure where they use a combination of AL then HL, well over 90%.
If they do Flotation [removing 85-90% of copper + 'impurities' such as zinc] then put
through AL, [and maybe even HL the residual] they have achieved highly efficient
extraction, 95% efficient of even better.

The Ugur ores helped significantly; blended with main pit and Gadir the cost was maybe $30/oz dore cheaper than without them.

FWliw, my assumption has long been that with the AL plant running to capacity,
the cut off as to the feed for it [v HL] may well vary, not only in terms of what is being extracted from the mines overall but if AAZ wish to accelerate a tad to meet cashflow targets or lower to use up some lower grade feed overall.
The balance going to HL, takes several months longer to get the gold out of and 60% of it, going by assumed efficiency.
But don't think this is a huge consideration.
AAZ is very efficient, which is a big +ve.

[wanobi] 31/8/2020 11:49

many thanx to xow98 on the main thread for this, CGNR discussion, cheers Wan :-)




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[xow98] 31/8/2020 10:20

Conroy Gold

[avsome1968] 31/8/2020 10:07

pogue

Ladies and gents
can I ask that you give some reasoning for your bets? I may want to follow them if they are well reasoned. I do try to give a reason for mine. If its just a punt fine say so no problem but I like new ideas.

Hi

Amigo Have had some big issues as late but i waited for results and pull back in price end of the day, think its a great opportunity to make 50% short term then up to you were it goes from there, liked these few paragraphs in results.


Compared with last year, net profits dropped 83 per cent in the three months to June, to £3m. Revenues fell 32 per cent to £49m.

Amigo’s loan book shrunk by almost a quarter compared to a year ago because of the freeze on new loans, but the company said it expected to restart lending by the end of the year. It added that it had “a strong cash position” and was “well positioned to manage the challenges of the Covid-19 pandemic”.

Despite the optimistic tone, it continues to face criticism from founder and former majority shareholder James Benamor. On Thursday evening, Mr Benamor said he would call for a shareholder vote next month to reappoint himself as group chief executive. Amigo refused to discuss the dispute in a call with analysts on Friday.

In a blog post last week, Mr Benamor said he wanted the group to expand overseas and encouraged it to stand up to “unethicalR21; UK authorities that he believes have encouraged fraudulent customer complaints.

He started to sell all of his 61 per cent stake in the company after he failed to oust the board in June. However, he said on Thursday that he would repurchase 29 per cent of the company’s stock at a price of up to 20p per share if reappointed to the board.

In a blog post addressed to investors, he wrote: “Like what I’m fighting for? Vote for me. Don’t like what I’m offering? Vote for me and sell the shares you bought from me, back to me (at a good profit).”

Shares in Amigo have been particularly volatile since Mr Benamor first suggested he could return to the company after it reappointed former chief executive Glen Crawford last month.

The stock rose as much as a third in early trading on Friday morning, before closing at 13.9p, a 16 per cent rise for the day.

Mr Benamor said he welcomed Mr Crawford’s return and wanted to work with him to lead a turnround. On Monday, however, Amigo said Mr Crawford “is not prepared to work with Amigo in any circumstances where Mr Benamor returns to Amigo’s governance structure in a position of influence”.

Chart looks good for a steady up trend DYOR, cheers AV

[11_percent] 31/8/2020 10:06

Buffett starts a trend.

"Ohio's $16 billion Police & Fire Pension Fund is following in the steps of Warren Buffett and making a big statement about owning gold. It has approved a 5% allocation to gold to help diversify the fund's portfolio and to "hedge against the risk of inflation" according to Bloomberg."..............

[wanobi] 31/8/2020 09:53

Good morning all, btw :-) LOL Cheers Wan :-)

Brent at 46.47 :-) :-)

Gold at 1957
Silver at 27.69