Anglo Asian Mining Share Discussion Threads

[2cmb] 18/7/2024 07:35

Good morning all.
I got a bit excited until I read the word IMMINENTLY !!
Well the Elephant has left the room and just a small bit of the tail is left in the room .
Let's see how the market looks at this news.
I have no more funds, otherwise I would do another top up.

[riggerbeautz] 18/7/2024 07:24

Bumpa that’s a bit like Caribbean time ;0)

[riggerbeautz] 18/7/2024 07:23

Lol seems that way Pogue, as noted on the other thread, the more reassuring point aside from debating time, is the tight cost control whilst we wait. Maybe next week then.

[bumpa33] 18/7/2024 07:23

Imminently is like one step closer than shortly, whereas if they’d gone to say, ‘in due course’ that would be like moving away from shortly. Although ‘days’ has become ‘weeks’ so…

you certainly don’t want ‘manana’ as that’s Spanish for ‘I’ll do it when I bloody well feel like it’…

[2cmb] 18/7/2024 07:19

Yes Robo63.
My brain was running too fast !!
My apologies for that.

[robo63] 18/7/2024 07:15

2cmb

Think you need to reread the rns, Imminently

[pogue] 18/7/2024 07:13

RB
they are using a Spanish dictionary and the word they are looking at for other versions is manana.

[2cmb] 18/7/2024 07:10

Good morning Guys.
Eventually the RNS has arrived the news we all wanted to hear.
Have a good day. I certainly will.

[sharekitchen1974] 18/7/2024 07:08

Debt is nowhere near as high as I'd expected, they will pay that off in a very short time.

[bazboa] 18/7/2024 07:08

Imminently and shortly ffs just get it done!

[sparkey_two] 18/7/2024 07:06

Shortly becomes imminently so got to be close!

[avsome1968] 18/7/2024 07:05

Be looking to take a bit of profit today.

MARTIN HORGAN, CEO, commented: "The results of the DFS demonstrate a robust project that meets Centamin's investment criteria. The project shows a strong first five years with production in excess of 200kozpa at an AISC below US$1,000/oz, delivering an accelerated payback on investment. The DFS has resulted in a plan with significantly lower execution risk, relative to the PFS, reflecting a reconfiguration of the project to reduce its social impact on local communities. We were pleased to receive regulatory approval of the Environmental and Social Impact Assessment and receipt of the environmental permit in June, and will shortly proceed to file the application for a mining license.

Financing options for the project are well advanced, supported by a clear roadmap for early works that will mitigate completion risks. This study underlines our confidence in Doropo's potential to become a commercially viable project, bringing substantial investment and employment opportunities to northeastern Côte d'Ivoire."

HIGHLIGHTS[1]

●

Mineral Reserve Estimate of 1.88 million ounces ("Moz") of Probable Mineral Reserves, at an average grade of 1.53 grams per tonne of gold ("g/t Au"), supporting a 10-year life of mine ("LOM")

●

Upside opportunities identified including potential resource and reserve growth, to be explored utilising cashflow following first production

●

Average annual gold production of 167koz over the LOM, with an average of 207koz in the first five years

●

All-in sustaining costs ("AISC") of US$1,047 per ounce ("/oz") sold over the LOM, with an average AISC of US$971/oz for the first five years at US$1900/oz gold price

●

Mining and processing operations remain consistent with the Pre-feasibility Study ("PFS"), utilising open-pit mining and a carbon-in-leach ("CIL") processing circuit

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Fulfils Centamin's hurdle rate of 15% internal rate of return ("IRR") at the US$1450/oz gold price used for Mineral Reserve estimation

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Robust economics with a post-tax net present value of US$426 million, 34% IRR and a 2.1 year payback using an 8% discount rate ("NPV8%") and US$1,900/oz gold price (a sensitivity analysis is available on page two)

●

Total construction capital expenditure ("capex") of US$373 million, inclusive of contingency, representing an increase of less than 7% from the 2023 PFS

●

A significant reduction in the need for community resettlement from estimates in the PFS of 2000 to 3000 persons, to less than 500, meaning no resettlement will be required during the construction period and the first 2 years of commercial operation

●

The Environmental permit was received in June, following the Q1 2024 submission of the ESIA, endorsing the Company's management plans. Alongside the DFS this will support the mining license application

●

An early works plan to be undertaken ahead of a financial investment decision will reduce project delivery risk and potentially expedite construction timeline

[riggerbeautz] 18/7/2024 07:04

Imminently going to see everyone reaching for dictionaries to discuss shortly.

[pogue] 18/7/2024 07:03

A new way of measuring time, it's now imminently, last one was days.

[all in eol] 18/7/2024 07:00

Anglo Asian Mining plc
Q2 & H1 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 the three months to 30 June 2024 ("Q2 2024"or the "Quarter") and six months to 30 June 2024 ("H1 2024" or the "Half Year").

The Company expects the administrative formalities relating to the tailings dam wall raise to be completed imminently, while production during the Half Year continued to be significantly reduced due to operations remaining partially shut down. Gold production from heap leaching and copper production from SART continued throughout the Half Year.

Operational highlights
· All technical and environmental approvals now received for the raise of the tailings dam wall
· AzerGold CJSC has now become the party to the Group's production sharing agreement ("PSA")
· $5 million prepayment advance for concentrate sales agreed with Trafigura with $3 million received in June

Q2 and H1 2024 Production update
· Total Q2 2024 production of 2,707 gold equivalent ounces ("GEOs") (Q2 2023: 12,422 GEOs)
o Copper production of 46 tonnes (Q2 2023: 1,014 tonnes)
o Gold production of 2,438 ounces (Q2 2023: 7,870 ounces)
o Silver production of 6,341 ounces (Q2 2023: 22,010 ounces)
· Total H1 2024 production of 5,270 GEOs (H1 2023: 23,391 GEOs)
o Copper production of 100 tonnes (H1 2023: 1,870 tonnes)
o Gold production of 4,704 ounces (H1 2023: 14,623 ounces)
o Silver production of 12,740 ounces (H1 2023: 44,696 ounces)

H1 2024 Sales and cash update
· Total gold bullion sales of 6,000 ounces at an average of $2,174 per ounce (H1 2023: 10,506 ounces at an average of $1,939 per ounce)
· The Group has maintained a strong focus on cash and strict cost control, with a net debt position of $12.1 million at 30 June 2024 (31 December 2023: $10.2 million)
· Net cash outflow (before receipt of advance from Trafigura) in the Half Year of only $4.9 million due to sale of opening inventory along with strong cost control. Net cash outflow including offset of the advance from Trafigura of $3.0 million of $1.9 million
· Inventory valued at $3.6 million at 30 June 2024 (31 March 2024: 1,550 ounces of gold valued at $3.5 million and copper concentrate valued at $0.7 million)

The Company expects to issue annual production guidance for 2024 in due course, following the resumption of full production.

Anglo Asian CEO Reza Vaziri commented:
"Despite the ongoing challenges faced by the Company, I am pleased with the substantial progress we have made, including amendments to our PSA and delivering all necessary technical and environmental approvals for the tailings dam wall raise, a critical step towards resuming full production of our operations.

"We expect to conclude all formalities imminently, enabling us to fully capitalise on the current robust metal prices to the benefit of our shareholders. We look forward to returning to normal operations and production shortly, and providing production guidance for the year."

[bleepy] 17/7/2024 23:22

🤞🤞🤞🫣

[2sporrans] 17/7/2024 22:24

cmb

Could it be that the plant can operate before refurbishment is fully complete?
That might explain the apparent difference between what the BoD spake at the AGM [I wasn't there] and the info given in the presentation.

Whatever....even if say the first copper trundles out the back end of q2 next year, that's still ways earlier than most were anticipating, just a few months ago.
And the cost of restart isn't much.
About $5mn v the $30mn [for the plant, leastways] that Hardman suggested, just over a year ago.

[thiopia] 17/7/2024 21:12

LND chart looks superb even though its already had a good run in recent months

Stock has broken out ON VOLUME above the 50 and 200 day Moving Averages and it seems likely we'll get a Golden Cross in the coming weeks

2 day close above a major technical resistance level like the 200 day Moving Average is a big signal to many technical investors

[thiopia] 17/7/2024 21:06

The old adage of 'Sell in May go away ; Come again St Leger's Day' has not held true this year (so far) judging by comments here.

Wonder if that might continue into Q4 before we get an October 1987 'Black Monday' type event ?

But in the meantime I'm seeing a lot of charts in small cap arena which are showing similar set ups to likes of PPP and GDR, and simply awaiting their own catalysts to light the blue touch paper

[bumpa33] 17/7/2024 19:52

chart looks ok to me SSB, gone through a rough few years and appears to be coming out the other end, new management, backers with big following - timing was wrong today but I’m sticking with this one I think…

[sideshowbull] 17/7/2024 19:38

LND chart not great Bump.



I think the only mention today that I was semi interested in was CTL - I do not hold however has no issues TA WISE yet - may flag but other than than who knows.?

BWTFDIK

SSB

[all in eol] 17/7/2024 19:35

Bumpa33,
GDR is one that I got pushed out of. LND was the one I sold because I felt it would go against me…
It’s so hard to make the right decisions sometimes yet other times you feel you can’t go wrong..

[bumpa33] 17/7/2024 19:24

glad someone’s had a good day - I shoulda stuck to the plan with a trade first thing on GDR. Instead I went with LND 🙄

[pogue] 17/7/2024 19:18

not just me then SSB. I have been adding FTSE ones mind you and they mostly crept up as well. Portfolio near all time high.