Anglo Asian Mining Share Discussion Threads

[2sporrans] 23/9/2020 15:40

I agree that the ores coming out of the u/g mines will contain a fair bit of copper Matt; so Flotation required. [Moreso still going ever lower as the zinc content will rise]
I'd mis-read your line on "NEW" mines producing oxide ore [as near surface]and conflated this with the u/g resource.
Basically the open pit is mostly high sulfide epidermal and the new U/g mine and Gadir
low sulphide but still sulphide non the less.
Again, that means flotation rather than AL.
So, i both read and wrote in haste!

Just that $50-mn got spent on the AL plant v maybe $15-mn on the flotation and rather puzzled me why that happened.
The AL can of course be combined wit the flot., in series, to achieve very high [95%] metal extraction....but like you say, ideally devote fresh oxide ores into the AL process, from Avshancli-Gilar [the Ugur-1 replacements] and hopefully further finds.

[riggerbeautz] 23/9/2020 15:39

Must admit don’t see that but w.d.i.k Do know that physical is drying up everywhere again.

[goodgrief] 23/9/2020 15:26

Increased divi and the special are most welcome. That's quite some yield based on the initial investment. Hoping Bill is going to look pumped at the next presentation, because last time he rather underplayed it!

"Maybe I am the only one here getting excited about this but, I am damn sure the entire team at Gedabek are pretty pumped about this next phase in the development of the Gedabek complex."

[jbravo2] 23/9/2020 15:23

I'd be happy if they could replace what has come out since last JORC

[mattjos] 23/9/2020 15:16

No, the porphyry is Gold-Copper-Silver mineralogy so, I assume it will require Flotation.
I'm not sure exactly at what level of Cu content Flotation becomes preferred to Agitation but, we'll soon know as we get the ore out & 'experiment' a bit with regards the necessary blending required.
I assume we will always be drilling ahead for grade identification/control.

It's a complex mineralogy & likely to change with depth but, the main thing is we're shortly going to be hauling the stuff out & processing it.
The company clearly expects a grade increase else they will not have been able to maintain the production targets.

(Gedabek O/P averaged 0.86g/t in Q1 & 0.99g/t in Q2)

I do expect a separate RNS confirming exactly when mining from Geabek u/g formally commences.

[wanobi] 23/9/2020 15:08

also, keeping an eye on gold for a bounce around 1800 :-) Cheers Wan :-)

[riggerbeautz] 23/9/2020 14:47

Interesting, been a good call so far. Suppose it depends how greedy one gets?

[2sporrans] 23/9/2020 14:37

"This is ultimately what we built the Flotation processing plant for,"

.....ummm, did you mean AL Plant Matt?

As to porphyry zone, i get your contention.

For one thing, the dual down dip [Gadir heading E/SE down and sub main pit going W/NW down] could well prove to be 2 forks of a deep volcanic fissure, the metal ores
washed into sedimentary [compressed ex-alluvial] deposits therein; the 2 forks maybe
join up into 1 large throat?
But i guess if that routes into a wide ranging layer of such deposits further down, then the porphyry resource is found.
If it extends North to Avshancli and beyond the CA, well that's very exciting indeed.

Is that how you see it?

[ilostthelot] 23/9/2020 14:31

Mattjos hopefully the underground mine data /results will bring a share price that begins with 2.
Ultimately that's what excites me. The value of my portfolio.



Great update today. Special dividend yes please!! I'm happy to keep reinvesting and compounding my investment here. Having said that I did reduce and invest in dddd which has more than doubled in value so I'm happy I moved some money over there.

Selling over 160p and buying under 140p has proven to be quite a successful trade! Maybe that trade will continue for a while yet.

This Jorc has taken alomg time I asked the question a while back about expectations. Pretty sure 200,000 ozs was a number some were hopeful as a minimum jorc compliant upgrade with suggestions of further jorcs to come.


Anyone care to speculate on that!?

[user2007] 23/9/2020 14:27

Nice to see a change of sentiment here. .It started to look a way too pesimistic.I still think there will be one more RNS before the presentation held on Thursday.My guess is news re the JV possibly but less likely JORC.

[bleepy] 23/9/2020 14:26

Your not on your own, been excited here the last 10yrs and have complete confidence Aaz will prove this porphyry system as in header... Described by Behre Dolbear in the 2005 IPO Documents as: "a potential world class source of Copper & Gold……..an additional 10 million tonnes of copper and 45 million ounces of gold could possibly be discovered on the properties"

[wanobi] 23/9/2020 14:14

PXC - I make it 36p for a bounce Rb, but, might not get there or may go further LOL,,,, such a exact science this charting malarkey :-) LOL, GLA Holders, Cheers Wan :-)


free stock charts from uk.advfn.com

[mattjos] 23/9/2020 13:44

Maybe I am the only one here getting excited about this but, I am damn sure the entire team at Gedabek are pretty pumped about this next phase in the development of the Gedabek complex.

This is ultimately what we built the Flotation processing plant for, imo …. if we can now tack on some of the new finds as fresh supply of Oxide ore to replace Ugur and supplement Gedabek u/g ore then, we will be in a pretty damn exciting position … able to feed all types of processing plant with plentiful supplies of blended ore that will probably grade higher than we have managed to date (across the piste average grade).

Very much looking forward to data on the ore type & grade that starts to come out of Gedabek u/g in the next few months

[mattjos] 23/9/2020 13:37

What I am trying to say is that Porphyry deposits are often pretty deep in the earth .. Gedabek is a 'telescoped' system and therefore the Porphyry body is likely to be at shallower (more easily accessible) depth.

This is why I have been waiting so, so patiently for AAZ to start underground mining at Gedabek. All the indications are there if you think about events at Gedabek:

- We have mined out the surface Oxide ore at Gedabek (during the early original open-pit operations focussed on Heap Leach & Agitation Leaching prior to 2015)

- From 2015 onwards we are then dealing with the transitional oxide-sulphide boundary layer, which required us to introduce the Flotation process as the Copper content increased. We're now running out of that material given the limitations as to overall pit size due to proximity to housing and town. Since we cannot just keep making the open pit deeper and deeper and deeper with no ability to widen it, we had to find a way to get in underneath the pit and start mining underground to get at what lies below.

Q4 this year, we now start to go into what should prove to be the start of the Porphyry orebody proper & that should bring us the "large endowment of higher grade materials".

This is potentially a massive transformational development.

[doc_oj] 23/9/2020 13:29

@klosters: or it may well be that CGNR's market cap is very tiny and there is a potential for multi-bagging

Pleased with the update today - slow and steady from here hopefully. The increased divi and a potential special is obviously very welcome. POG needs to behave itself now.

[wanobi] 23/9/2020 13:27

AAZ - hopefully the coming JORC will mean they have one also LOL,,, Cheers Wan :-)

[wanobi] 23/9/2020 13:25

TXP - what can you say about it,,, it's looking like they have 'a tiger by the tale',,,, LOL,,, hope the know what to do with it LOL LOL,,, GLA Cheers Wan :-)

[wanobi] 23/9/2020 13:23

many thanx for taking your valuable time to explain to us PoF,, tis mucho appreciated by me, KS & many others looking in for sure, cheers Wan :-)

[homebrewruss] 23/9/2020 13:21

TXP:
They are planning to produce approx 88mmcf/d and 2000 bopd liquids net to TXP when they have their 2/3 wells into Cascadura (+ coho and excluding exisiting oil production (which pays the blls)).

Netbacks could be something like $2 per mcf and $20 per barrel liquids (at $45 oil) so excluding their current production potentially $216,000 per day
'Wall of cash'

[king suarez] 23/9/2020 13:02

Yes, planning to sink more than 1 well into Cascadura, so peak production forecast closer to 100 MMcft/d + liquids and an additional c10 MMcft/d from Coho and current c1,500 barrels a day oil production.

[mattjos] 23/9/2020 12:57

Frustratingly, the Irish Companies House does not offer anything like as comprehensive search ability as the UK Companies House so, unable to search on Directors and determine their current list of appointments.

I assume the JV's will be incorporated in Ireland but, even that may be incorrect assumption as the formation of these companies will likely be done with a view on future profits and therefore tax will be a factor in determining the optimum corporate structure. These sort of thing will take time to get done correctly at the outset.

From what I am able to dig into, there does not yet seem to be any filings on UK Companies House indicating any of the AAZ Directors have new appointments.

[klosters65] 23/9/2020 12:39

You may well be right. However, I think it confirms for me that there are simply more people who find it easier to buy a share for 40p than £1.40p.

[winston66] 23/9/2020 12:39

Just had a quick glance at the TXP situation and apologies if already old news to most.
They forecast an initial production rate of 40-50 MMcft/d of natural gas with 1100-1400 bbl/d of 55 API condensate.
Anticipated late 2020 prices are against Brent @ $43 bbl, $36.90 bbl condensate and $2.08 MMBtu for the natural gas.
Casadura is a monster and these production rates will be pumped up as the development progresses.