Anglo Asian Mining Share Discussion Threads

[jbravo2] 23/11/2022 11:23

:D
So is writing to them to let them know you think they’re undependable

But I like silly :D

[zangdook] 23/11/2022 11:21

"I guess the obvious response to that is no-one is forcing you to hold."

That's not any sort of response, it's just silly.

[wanobi] 23/11/2022 11:13

only that after announcing as per DP's post today;

"The board believes that the market capitalisation of the Company does not fairly reflect its underlying value and that its ordinary shares are undervalued. The board would also like to increase the number of institutional shareholders in the Company. The board therefore believes it beneficial for the Company to purchase its own ordinary shares in the market. These ordinary shares acquired by the Company will be held as treasury shares and be available for resale. This will enable the Company to accumulate blocks of ordinary shares significantly large enough to be attractive for sale to institutional investors."

they came out and stated on an RNS sometime later that they would be buying back stock on an opportunistic basis,,,

so I'm putting 2&2 together I suppose,, but, I try to read between the lines as much as I can and doing that in this situation says to me that they have had discussions with shareholders about it!!!

I may be wrong in that belief GG,,, but, that's where I am with it.. :-)

Cheers
Wan :-)

[goodgrief] 23/11/2022 11:07

Wan, what evidence is there that they have taken onboard investor sentiment?

[jbravo2] 23/11/2022 11:03

Nicely summarised
:)

[wanobi] 23/11/2022 11:00

I think they have taken onboard investor sentiment over BB's as they clarified they'd be doing it on an 'opportunistic basis',,, so, maybe, they see a better opportunity ahead that we are not aware of,,,, although I can't think what that might be other than a cheaper SP,,, but then, why not buy some more in the low 60p's!!??,,, so,, who knows what they have planned,,,, but, what we do know is that they are not going to go out and buy 50K lumps of stock on a regular basis over an extended period of time,,, so, we just have to live with it (or sell up) for now.... at some point the mist will clear I guess/hope :-) :-) GLA Cheers Wan :-)

[jbravo2] 23/11/2022 10:59

Well, yes, I guess there’s not much point writing just to accuse them of being undependable.
I guess the obvious response to that is no-one is forcing you to hold.
Lost most of my reply somewhere in the ether it seems.
C’est la vie will have to suffice second time around :D

[zangdook] 23/11/2022 10:48

The AAZ buyback bothers me, not so much because I care whether they buy shares or not, but because I want to be able to rely on them to carry out the plans they announce, or be straightforward about why they don't. I did write to them once just to ask about the buyback - maybe I used the wrong address - but I'm not going to write again because I'm not sure it would be helpful. It's partly that I can't be bothered trying to find a tactful way to accuse them of being undependable, and partly that I can't conceive of a reply that would make me change my attitude now, which is to be rather more cautious about company announcements than I was before.

[wanobi] 23/11/2022 10:48

80p is holding, so far :-) :-)

Cheers
Wan :-)

[jbravo2] 23/11/2022 10:47

So you get a response each time you write.
Good sign!
So why don’t you want to ask them about the buybacks?
You’ve written about it what must be more than a dozen times on here.
So… ???

[donald pond] 23/11/2022 10:42

As I said, the last 3 or 4 times I've written to them about anything I've had a one line response "No, we won't be doing that". So I've taken the view I either stick or sell and I'm minded to stick.

[jbravo2] 23/11/2022 10:35

Fine. That’s covered that.
If you disagree further then raise it at the AGM. After that there’s not a lot anyone can do. You’re then left with the ultimate choice of any shareholder. Sell or stick.

Now what about the buybacks? It’s clearly eating away at you.
Going to try to establish where they stand for your peace of mind or just sticking to whining about it on here?
C’mon, we’ve met. I know you’re proactive. I don’t get your approach to this.

[donald pond] 23/11/2022 10:32

I wasn't offering to do a job they weren't advertising for. I was suggesting they weren't good in this area and needed help.

The fact that they are the only listed company I know that does not have an official twitter account indicates that they have no idea how the UK retail market works. And nor do they want to know.

I've asked them several times if they need help, or (in the past) if they would consider buybacks, and all I have ever got back is "No, we don't want to do that". So I suspect their approach is by design.

[jbravo2] 23/11/2022 10:24

:D
I’m not sure what to say.
You wrote a year ago? Offering to do a job which they weren’t advertising for and got a no thanks.
So you don’t think you should write again on an unrelated matter?

[donald pond] 23/11/2022 10:19

Well I wrote to Bill a year or so ago and offered to help with their PR/IR. And I got a one liner back to the effect that they prefer to do it themselves. It must be nearly 2 years since they said they were working on revamping their website. Keeping shareholders up to date and attracting new investors is just not a priority for the company. Which is sad, but as long as the board own 40% and the dividends keep coming, I believe it will come good.

[jbravo2] 23/11/2022 10:16

Sure well there’s not much to say.
The endless bleating on the subject online sure doesn’t achieve anything other than destroying sentiment. Which was useful for a while whilst I was buying at 60-70p but is now annoying
:D

Write to the company to express your dissatisfaction. Suggest an alternative course of action to them.
And I don’t mean the useless email addresses supplied somewhere where again people moan they don’t get a reply.
Bill supplies his email address on the presentations. Write to him. From memory I think Reza’s might be on it too?? Not sure.

Edit: just checked - no it’s Bill, Steve and Amir’s. (Maybe Reza’s is on an old presentation somewhere?… or perhaps you could guess it?!)
Knock yourself out!

[donald pond] 23/11/2022 10:11

I just think it is disappointing. The timing of it all looks like it was simply intended as a distraction at the AGM. L2 has gone to 2v1, so we could get a bounce here, but I really think for not much money they could have kept the chart looking much better. And remember, the whole point was to buy up a few million shares and sell them to an institution at a profit. So its not a matter of having better uses for the money, the shares were never intended to be cancelled.

[jbravo2] 23/11/2022 10:07

True enough a slightly fatuous remark on my part.
:D
Things change.
It could be that it now anticipates a better use for the money.
These permissions last a full year. I’m not sure they need to announce it’s cancelled in case the situation changes and they wish to buy again.
At the moment it’s obvious they’re not buying. Why do you need them to confirm that when the evidence already says they’re not buying?

[donald pond] 23/11/2022 10:02

The problem with your argument jb is that you say you don't want the company to buy shares off a seller because you don't want the seller to get a good price. Fair enough. But the company cannot buy shares off buyers. They can only buy off sellers, and they can only buy when there is a seller in the market. So if they aren't going to buy when there is a seller around, they should announce that the buyback programme has finished.

I would say that the only time the company can meaningfully operate a buyback policy is when there is a big seller around.

Let's remember why the authority was sought:

"The board believes that the market capitalisation of the Company does not fairly reflect its underlying value and that its ordinary shares are undervalued. The board would also like to increase the number of institutional shareholders in the Company. The board therefore believes it beneficial for the Company to purchase its own ordinary shares in the market. These ordinary shares acquired by the Company will be held as treasury shares and be available for resale. This will enable the Company to accumulate blocks of ordinary shares significantly large enough to be attractive for sale to institutional investors."

So are we to conclude that the board no longer thinks the shares are undervalued? Or that it no longer wants more institutions? I'm not sure there's another interpretation.

[katsy] 23/11/2022 09:38

80p needs to hold and we have to bounce from here. I kind of expected this throwback to the long term downtrend line. What it does from here, I don't know. In all honesty I wouldn't mind a few more lower down.

[jbravo2] 23/11/2022 09:35

The seller (and in the main it has been one seller for over a week) clearly has lots to get through.
Let em get on with it.
They know the company isn’t going to help em get best price and I’m happy with that.

[donald pond] 23/11/2022 09:31

Really, the company ought to either buyback here and now or else announce the buyback programme is closed. But as with so much, they just can't do normal market behaviour.

[jeanesy] 23/11/2022 09:27

Fallen below 80p already thanks to our 20k selller. Looks like the mm's dont want to have many on their books. Lets hope that some buys come in to keep us above that 80p level by the close of play.