Anglo Asian Mining Share Discussion Threads

[wanobi] 24/6/2022 10:09

FWIW,,,, for me it's above 100p sustained to break this downtrend!! Cheers Wan :-)


free stock charts from uk.advfn.com

[wanobi] 24/6/2022 10:05

nice one zd, thanx, cheers Wan :-)

[donald pond] 24/6/2022 10:04

L2 at the moment is 1v1, with PEEL at 90-97, MREX at 92-99 and everyone else at 90-100.

[katsy] 24/6/2022 10:01

Chart wise, where is the brake of the down trend point? We need to break the trend!!

[zangdook] 24/6/2022 09:59

PHSC was a £1m company which did some buybacks, and now it's a £3m company.

[wanobi] 24/6/2022 09:58

no probs Rb, many thanx, yep, a lot of good things in the pipe for AAZ.. provided the world plays ball!!! be nice to get above 100p and stay there now though :-) Cheers wan :-)

[riggerbeautz] 24/6/2022 09:49

Wan, if I wasn’t trekking round London with my son, I’d post more thoughts but I’m in the JB2 camp, pom poms can come out later.

[zangdook] 24/6/2022 09:48

I love buybacks (provided they're below NAV or at least below my idea of fair value). I have a spreadsheet column for my percentage interest in each company; it's much more interesting than the number of shares held.

[jbravo2] 24/6/2022 09:48

Sigh

:D
Have fun

[donald pond] 24/6/2022 09:46

The other drafting problem zang is that the phrase "the average of" is never closed down.If you say the average of (a), (b) or (c) a natural interpretation is to add up a, b and c to get the average. Whereas what they mean isThe highest of: (a) 5% above the average of mid market prices; (b)...; or (c)...

[jbravo2] 24/6/2022 09:42

Spot on zangdook

If I had to guess I’d say it won’t start til Monday.
(Bill is back in the Baku office on Monday and I’d guess he’s going to be the one co-ordinating this… perhaps another day or two to organise?)

[zangdook] 24/6/2022 09:38

There are three prices, and the limit is the highest of them. They present it as "the higher of a or (the higher of b or c)" where they could perhaps have said "the highest of a or b or c" but that's lawyers for you.
----------
The price paid will not be more than the higher of

- 5 per cent. above the average of the middle market quotation of the Company’s ordinary shares as derived from the London Stock Exchange Daily Official List for the five business days preceding the day on which the shares are purchased

and

- an amount equal to the higher of
-- the price of the last independent trade of an ordinary share
- and
-- the highest current independent bid for an ordinary share on the trading venue where the purchase is carried out.

[wanobi] 24/6/2022 09:38

TXP - oh dear oh dear!!! ggrrr!! Cheers Wan!

[donald pond] 24/6/2022 09:37

Lots of companies have buybacks and they rarely work: SLP, GFM and TRMR are examples. But I think they often serve to allow major holders an exit opportunity. In the case of AAZ, the opposite is true: the aim here is to allow institutional investors a way in. Also, I don't think there are many seeking to sell out at these levels. Maybe as the price rises, people will. But it feels as if we are at the bottom of the AAZ cycle and it should be a series of good news announcements from here. The main thing though is the lack of volume. We've had many days recently of under 100k being traded. It's clear that marginal trades can swing the price a long way. Now there is a permanent more than marginal trade on the buy side. That changes the dynamic completely imo.

[xow98] 24/6/2022 09:22

Ex div 30th - 3.5c

[katsy] 24/6/2022 09:20

The success of AAZ share price will be from a good post-ratification plan and execution with hopefully good PM/copper prices in support, Control of costs, etc..

We've seen management here execute that plan well before so no reason they can't do it again. Who knows £4-£6 in 5 years time.

[jbravo2] 24/6/2022 09:19

Donald is right. They won’t manage it imo

[jbravo2] 24/6/2022 09:17

Whilst you may be right hubs there may be reasons for a difference here.
Have you ever known a £100m company do a buyback?
And what’s more one where the buyback is authorised to buy back c20% of all available shares?

However, long term, I agree, it’s the fundamentals which will determine whether we reach £5 or 5p.
I’m happy I know which of those it will be, but everyone must make their own call

[katsy] 24/6/2022 09:15

given the low volumes here at times, I can't see how management will manage to acquire 10% that easily.

[hubs] 24/6/2022 09:13

Katsy, I agree. Just on my own observation, many a time I've watched the excitement of a buyback announced, then the drift down just continues. Defies logic, but hey, wtfdik etc etc...:)

[katsy] 24/6/2022 09:11

GFM had a tame buy back program last year, £1.60 down to 80p. I remember a few stocks doing the same maybe 15 years ago, one was a big bank during the financial crah. One was management tame attempt to support the share price but ultimately the shorters won that game, company went bust!! Yes many of the large DOW companies done the same with success but I think that was all part of the plunge protection team at work there.

[donald pond] 24/6/2022 09:06

I'm sure that's right, but the drafting could be improved Once they start using the facility we will get daily updates. The disparity between the size of the potential buyback, the FCF and the average daily volume makes me think AAZ is a one way bet from here. Famous last words!

[wanobi] 24/6/2022 09:04

I don't have any experience of it really Katsy, but, I do have experience of how fast AAZ share price can rise on very small buying volume so I'm expecting that to happen now,,, we shall see,,, and ultimately, yes, value depends on all the things you mention and more,,, don't forget the divi :-) Cheers Wan :-)

edit, and I expect most current shareholders are the LTH's, who know the story/future and whom will not be selling too much on the way up,, I certainly won't, I shall be holding beyond 200p.... :-),,, btw I'm serious about the 200p!!

[katsy] 24/6/2022 09:01

wanobi I've always thought that whenever any buyback program begins, it rarely works out how you think. No one buyer can control the market. Ultimately it's what AAZ does as a company, it's how the PM prices perform, it's what happens in the wider market. Geo politics, etc etc. Let's see how aggressive they are with this buyback scheme.

[bwana4] 24/6/2022 09:01

Good morning all.
Odsjp thank you for the tic up.
Yes you are right about the shorts and the rubbish posted .
I just thought I would express my views there. I was quite taken aback with the ticups response. All very good.

Yes Wan the buyers will be around now for a bite of AAZ shares.
ATB all.