Anglo Asian Mining Share Discussion Threads

[michaelfenton] 17/4/2024 08:07

SP marked down just shows you what the MM's know. I wish I had some more cash as it looks a good opportunity?

[arlington chetwynd talbott] 17/4/2024 08:06

Market not impressed. I am still banking on a re-rate back into three figures over the summer though. More fool me, perhaps.

[wanobi] 17/4/2024 08:03

MM's probably have no idea what's going on today LOL :-) :-)

[2sporrans] 17/4/2024 07:59

Excellent news on cost control.
The tiny net cash drain ~equated to the CAPEX.

The obvious sacrifice to achieve this was to reduce Gilar development to a trickle or put on hold; not made clear which.
But the ko date now moved to Q4; i.e. 1 year delay from pre-debacle.

[e43] 17/4/2024 07:51

SRB,Q1 numbers OK ,generally positive interview with Crux also tagged in with announcement.
SPEC final results in-line with Jan downward revision which hit the shares.
I've taken a small position, so will be interested to see whether today's slightly more positive current trading statement rallies the price.

[riggerbeautz] 17/4/2024 07:50

Thought you already were avsome. If I was an HSR buyer from last week, I’d be concerned I’d bought too soon, I mean imminent could be tomorrow, next week, next month ;))

[wanobi] 17/4/2024 07:49

what we need though, is the new TD site agreed and approved asap too :-) :-)

[wanobi] 17/4/2024 07:47

think they said 3 months of production capacity left and 3 months to raise wall,, a while back..

totally understand your concern av68,,, but, would say that once/IF they get TD permission it sends a message to any lender that AZERGOV & President are back onside and aligned with AAZ,,, and so further cash requirements should not be a problem as they have a proven track record of generating profits etc etc..

Cheers
Wan :-)

[jbravo2] 17/4/2024 07:45

Yes, pretty pleased with that

[avsome1968] 17/4/2024 07:44

Going out fishing for the day now good luck guys/////

[laurence llewelyn binliner] 17/4/2024 07:41

A month on from submissions for the TD raise and we could be back up and running PDQ..

[avsome1968] 17/4/2024 07:40

Will that be enough DOC ? what if they don't get approval for the wall in the next 4-6 weeks how long will it take to raise the tailing dam walls when permission granted, another 6 months without any further delays to get first production from the new Gilar mine now planned for Q4 2024.

Staying out for the moment ////

[stockhunters] 17/4/2024 07:38

wonder if market noticed what they said about permit in RNS could ignite this

[wanobi] 17/4/2024 07:36

I'm ok with what and how they've said it (and how they've managed the situation so far),,, as for Mr Market, who cares short term :-) :-)... as expected for those who are up to speed with the story, but, those who bought the tip will no doubt be thinking,,, wot!!!! nothing has changed other than they must get that TD approval soon or it's game over unless Reza bails them out again!!

Cheers
Wan :-)

[michaelfenton] 17/4/2024 07:36

Congrats to the Board and all workers. In the circumstances a great quarter results. Now you know this is a great and well run company. Further good news soon.

[2cmb] 17/4/2024 07:35

Jeanesy ' yes I think they have not done badly at all. TD will arrive for sure.
I will be doing a top up if the shareprice falls.

[doc_oj] 17/4/2024 07:32

@avsome



Q1 2024 Financials overview

· Cash of $9.8 million ($10.5 million at 31 December 2023)

· Debt unchanged at $20.7 million ($20.7 million at 31 December 2023)

· Net debt of $10.9 million ($10.2 million at 31 December 2023)

· Unsold gold doré and copper concentrate inventory of $2.0 million

[divmad] 17/4/2024 07:29

Sounds like they don't anticipate a problem getting the high wall approval, and near term too. But a cynic would say, they would say that, wouldn't they.

[avsome1968] 17/4/2024 07:26

I would be surprised if the market likes that update Wan, anticipate? how longs a piece of string, what cash do they have left?

[jeanesy] 17/4/2024 07:21

Much better than i expected.

[doc_oj] 17/4/2024 07:21

I think that looks pretty damn good considering

[cannonfodd3r] 17/4/2024 07:19

Could’ve been a lot worse!

[2cmb] 17/4/2024 07:14

Good morning all.
Wan' around quarter of GEOS produced compared to last years production. Awating for the TD news. It will ofcourse come in due course. :-):-) .
Let's see if we get an opportunity to buy some shares today.
ATB.

[all in eol] 17/4/2024 07:00

17 April 2024
Anglo Asian Mining plc
Q1 2024 Production and Operations Review

Anglo Asian Mining plc ("Anglo Asian" or the "Company"), the AIM listed gold, copper and silver producer focused in Azerbaijan, provides the following production, sales and operational review for its Gedabek contract area ("Gedabek") in western Azerbaijan for the three months to 31 March 2024 ("Q1 2024", or the "Quarter").

Production was significantly reduced during the Quarter due to operations remaining partially shut down as the Company awaits permission to raise its tailings dam wall, which it expects to receive shortly. Gold production from heap leaching and copper production from SART continued throughout the Quarter.

Q1 2024 Production update
· Total production of 2,548 gold equivalent ounces ("GEOs") (Q1 2023: 10,969 GEOs)
o Copper production of 54 tonnes (Q1 2023: 847 tonnes)
o Gold production of 2,252 ounces (Q1 2023: 6,741 ounces)
o Silver production of 6,410 ounces (Q1 2023: 22,566 ounces)

Q1 2024 Sales and cash update
· Total gold bullion sales of 3,925 ounces at an average of $2,080 per ounce (Q1 2023: 5,719 ounces at an average of $1,895 per ounce)
· The Group has maintained a strong focus on cash and strict cost control, with a net debt position of $10.9 million at 31 March 2024 (31 December 2023: $10.2 million)
· Net cash outflow in Q1 2024 of only $0.7 million due to sale of opening inventory along with strong cost control
· Inventory valued at $2.0 million at 31 March 2024 (31 December 2023: 2,506 ounces of gold valued at $6.9 million and copper concentrate valued at $0.2 million)

Outlook
· The Group submitted all necessary documents by 14 March 2024 to the Government of Azerbaijan to raise the tailings dam wall and is now awaiting receipt of the permission
· Receipt of the permission will enable the resumption of normalised production at Gedabek and, at this stage, the Company will accordingly issue guidance for the full year 2024
· The Company continues to prioritise the progression of its development portfolio with first production from the new Gilar mine now planned for Q4 2024

Anglo Asian CEO Reza Vaziri commented:
"Amid what has been a challenging time for the Company, we have made important operational progress and our portfolio of development assets is progressing in line with our expectations. We await Government permission to raise our tailings dam wall, a necessary step for resuming normal production levels and our ability to issue production guidance for the year. We anticipate the permit will be issued shortly and this will enable us to take advantage of the current strong metal prices for the benefit of all our stakeholders".