Anglo Asian Mining Share Discussion Threads

[brasso3] 26/2/2021 07:09

26 February 2021

Argo Blockchain PLC

('Argo' or 'the Company')

Installation of 4,500 new mining machines

Argo Blockchain, a global leader in cryptocurrency mining (LSE: ARB), is pleased to announce that 4,500 Bitmain Antminer S19 and S19 pro miners Argo agreed to lease from Celsius Network in November 2020 have been installed on time and are now fully operational. This installation represents the final delivery of Antminers under Argo's lease with Celsius Network . The new mining hardware has added approximately 430 petahash to the Company's installed computing power and consumes approximately 15 megawatts ("MW") of electricity. This latest installation highlights the continued focus on efficiency when expanding Argo's mining operations.

Peter Wall, Chief Executive of Argo, said: "We are delighted with the addition of these machines and believe that this installation will help Argo maintain its position at the forefront of mining efficiency."

[brasso3] 26/2/2021 05:23

ODR

You were saying the same thing about ARB at 29p when PW sold some shares. :)

A broken clock is right twice a day.

[laurence llewelyn binliner] 25/2/2021 23:55

A boring week for share holders #MJ, however a fascinating week as the drivers for POG battle it out, real inflationary drivers are there and stacking up faster, 7% property inflation in 2020, commodity prices have to filter through into product price inflation, then there will be a monetary policy battle to tackle it, but that will cripple business, while fiscal policy to payback furlough will cripple the working population and the QE driven inflation debasing currencies causing the problem will cripple both..

A FIAT cliff edge gets ever closer.., #Reichsmark..

Meanwhile AAZ strategy and a bit of luck gets us into the best gold deposits in the Caucuses, and with the lowest AISC to position for POG if it does soften further near term, before taking off.. :o)

[goldrush] 25/2/2021 23:47

2sp

A minor issue but AAZ exercised the first 325,000 shares @16p.....I am sure they will sell them at the appropriate time for a profit.....

Conroy Gold and Natural Resources plc (AIM: CGNR), the gold exploration and development company focused on Ireland and Finland, announces that it has received notice to exercise warrants over a total of 325,000 ordinary shares of €0.001 each (“Ordinary Shares”) at an exercise price of 16 pence per Ordinary Share (the “Warrant Shares”), for which funds of £52,000 have been received by the Company.

The warrants were issued to Anglo Asian Mining plc as part of the proposed joint venture announced on 21 July 2020. The proceeds from the exercise of the warrants will be used by the Company for general working capital purposes.

[mattjos] 25/2/2021 23:04

One of the most boring weeks I can remember for a long, long time.

It's like the markets can't decide if the Fed or the Bond market are going to win this next round & how will that affect the US$.

Should investors stick to Growth or pivot to Value (for first time in many years)?

Meanwhile, all commodities are launching higher with the afterburners glowing & that is inevitably going to be inflationary. Prices cannot stay down with oil, steel, zinc, copper & every other commodity rising like this - not possible.

Feels like there may be some sort of inflexion point close at hand & folk are waiting to see the cause & effect.

[2sporrans] 25/2/2021 22:51

Well LLB, methinks what is required for a realistic prospect for the POG to revisit $2000/oz any time soon, let alone attain new ATHs, is for inflationary expectations to outstrip bond yields. More precisely, to be a period of months where inflationary expectations for timeframe of next decade or more, rise a fair bit higher % wise than the yields for Treasury bonds over similar maturity duration.




Then the Blue line goes to well under -ve 1.0.......

The US$ would naturally be expected to depreciate v basket of other currencies in such circumstances.....save the respective economies of other basket [cases] exhibiting even higher inflation and/or stagflation where economic growth low or even shrinks. [all else remaining equal].
But not the primary POG driver; more of an associate.

Obviously currencies can move around for all sorts of reasons and over short
periods of time $ moves, as such, will be what drives POG.
The superficial association of falling $ and rising $-POG is of course tautological.

But how likely that inflationary expectations will indeed outstrip bond yields, over 5yr+ timeframes.?
Are we, finally, witnessing the return of the long dormant Bond Vigilantes?

Whaddya fink of the notion, currently being bandied around, of Bitcoin being 'digital gold' and now, increasingly stealing Gold's lunch?
I have to say, the argument does seem quite plausible to me; much as I am loath to entertain it.
Logical reasoning founded upon flawed foundations?
Perhaps [and my contention].
Then again what of the foundations for gold being a 'real' currency, store of value etc. ?
Hmmm.

[katsy] 25/2/2021 22:36

I wouldn't mind POG getting cheaper, can't get silver at the moment but if I can get gold a little cheaper than it is now, I'm going for it. Can't see how furlough of 4.7m people in the UK will results in anything but a busted currency.

[laurence llewelyn binliner] 25/2/2021 22:16

#3Sporrons, I was looking forward to your take in the 10 year bond yield/DXY/POG...

The 10 year has certainly pulled the rug from under POG recently, but the DXY surprised by staying steady c90 +/- 0.5..., it will be very interesting if this trend continues, and/or when it softens, and if this will override the yield rate rising impacting POG..., or not...

[2sporrans] 25/2/2021 22:05

Think the POG is actually holding up well in the circumstances.
Those being the rapid acceleration in long duration US Bond yields [notably 10yr +]; those at the short end [2yr or less] remaining firmly anchored by the Fed.

The continued rise, just now having spiked to 1.56%/10yr, will have caught most by surprise. It has sent bond yields up globally albeit mutedly in moribund Europe.
The sell off in growth equities to be expected as NPV discount rates rise reciprocally.
Surprised me that shares in general got sold off hard today.
Just checked on US banks and see JPM, MS down too; over 1% maybe 2%.
They borrow short dated to lend long and pocket the differential; so you'd think they
would be lapping up the rise in long rates with the short anchored down; especially given the rising yields have connotation of economic revival/growth.

Going by DXY, the $ hasn't gone anywhere the past 3 days, down sharply but back up again today; so don't think this explains the drop in POG today.
Indeed, DXY is a fair bit lower than recent peak of 4FEB21 which ought to have supported POG but POG was $1800 4Feb21 close.
Being of persusion that real rates are the primary driver of POG over past decade,
note that the US 10yr treas. 'Breakeven' rate has risen from recent very low level
of under -ve 1% to -ve 0.8% past few days, which would account to the sell off in POG. When this real rate last rose to -ve 0.8%, 10th Nov.2020, the POG fell over the ensuing 3 weeks, sinking to the low of ~$1760/oz on 30Nov20.
Well, these relationships have slightly imperfect synchronicity despite the very close inverse correlation between real rates and POG over the years, month by month....

Thinking of Matt's chart and the falling wedge over the period since last July, the POG, encased by Matt's parallel lines looks rather like a snake inside a progressively smaller tunnel.
Perhaps the snake will grow a little longer; maybe even for a few more weeks?

If so happens the higher long bond yields have risen 'ahead of themselves' [already hit what not a few analysts/economists have been forecasting for year end] and sink back significantly, real rates may well fall back to around -ve 1% again and the POG can
settle into say the $1850-$1900 range once more.
Whether this will provide the opportunity for the snake to break out up of its tunnel and climb a ladder, maybe to $2k+ highs, I'll pass over to Matt and the other technically minded to deliberate over.

[onedayrodders] 25/2/2021 21:50

At least the ARB directors have done the right thing today

[wanobi] 25/2/2021 19:03

yep, you're being too paranoid Wan :-) LOL

Cheers
Wan :-)

[wanobi] 25/2/2021 18:31

oops FED losing control of the Bond market????,,, YIKES,,, if so, that could throw a spanner in the stockmarket,,, hmm, we shall see, or am I just being too paranoid!!!!! cheers Wan :-)

[wanobi] 25/2/2021 17:54

yep, agreed jeanesy, I feel that to be the biggest obstacle for the share price right now,,, all we need is AZERGOV to grant the extensions so the market can see the relationship is sound and we should be off to the races so to speak, cheers Wan :-)

[2sporrans] 25/2/2021 17:46

looking back, AAZ would have acquired a 17.5% holding in Conroy [split across 3 separate companies], conditional upon spending e-2mn exploration.
Those warrants didn't amount to much, worth some £52k when issued.

Did AAZ actually spend e-2mn on drilling etc or kept that on hold?
Assume the latter as the JV never progressed to stage that would go ahead.

As I progressively lost interest in the JV, whatever i read along the way faded out rather.

[jeanesy] 25/2/2021 17:43

Never understood the CGNR jv. A very unwelcome distraction. Were they hedging their bets if the war went wrong ? The company spent years doing its due diligence so it has wasted time and money . I would hope they now concentrate on what is on their own doorstep. We really do need that PSA extension asap please.

[wanobi] 25/2/2021 17:26

aha, many thanx DP, cheers Wan :-)

[donald pond] 25/2/2021 17:25

Yes, been all over BCN, will add some comments later if I remember but basically got to 65p, had a huge placing at 45p that gives them enough cash to build biggest lithium mine in world, and then fell to 39p yesterday and have been bouncing sinceParob is in it as well, it's been more twitter discussed than advfn

[wanobi] 25/2/2021 17:22

free stock charts from uk.advfn.com


free stock charts from uk.advfn.com


anyone know anything about this lot ?

thanx
Cheers
Wan :-)

[inaminute] 25/2/2021 17:17

I agree. The rewards we have on our doorstep and can now better focus on must surely outweigh the possible gains from that deal.

[fozzie] 25/2/2021 17:14

Really pleased we have stopped talks with Conroy, it never made any sense to me, even less now that our hands are so full of new opportunities closer to home.

Commentators curse on XTR, no sooner had I said that it was thru 7p then it promptly fell back.

Directors sales at ARB, not a problem, they deserve it and cannot hold forever.

[wanobi] 25/2/2021 17:10

XTR, yep, excellent, well done chaps :-)

AVCT - cmb, yep, very well played by you and others :-)

AAZ - Transaction with Conroy Gold
Anglo Asian Mining PLC ("AAZ" or the "Company"), the AIM listed gold, copper and silver producer focused in Azerbaijan, has today terminated discussions with Conroy Gold and Natural Resources plc ("Conroy") in respect of the previously announced proposed joint venture agreement. Details of the heads of terms signed on a proposed joint venture with Conroy were announced by the Company on 21 July 2020.

bad for CGNR, but, not unexpected after all this time...

as for AAZ it might just be a good thing so they can focus on newly liberated CA's :-)

Cheers
Wan :-)