most of the commentary with regards the movement of gold from London to NY is regurgitating the 'tariff' reason - that gold started flowing out of London immediately the Donald was elected.
However that was also coincident with Labours budget & belief amongst some that UK would soon be facing a currency crisis & potentially be forced to introduce capital controls, hence accelerating a trend to get physical out of London asap.
In effect, a Bank Run on the LBMA is in progress & could quickly reveal to what extent physical Gold has been rehypothecated.
Who would want to be amongst the last to ship their gold out of London & risk being refused?
A perfect time for China & others to step up their buying if London is actually having to try and source physical gold to meet demand they don't actually have.
We may see Gold, then Silver, run up significantly higher before all this is resolved & that will obviously further aid AAZ finances. |
I’ll go to the shop (with me coat)
:D |
Yep the revolving credit facility had a peak allowance of about $30m (got 32.5m in my mind for some reason) but was withdrawn as we shut the plant. It got reinstated to 10m and bill said he was going to look to up it when he could.
Of course he may have been granted permission and simply never drawn it. I suspect that wouldn’t be RNS’ed
Edit: Oh hang on that already says 18.8 remaining undrawn.
Ah well not sure what I’m remembering then?!
When did I meet him?
:D |
 09/10/2023 4:00pm
UK Regulatory
TIDMAAZ
RNS Number : 4609P
Anglo Asian Mining PLC
09 October 2023
9 October 2023
Anglo Asian Mining plc
$10 million loan drawdown from the International Bank of Azerbaijan
Anglo Asian Mining plc ("Anglo Asian" or the "Company"), the AIM-listed gold, copper and silver producer operating in Azerbaijan, announces that it has drawn down a $10 million tranche from the International Bank of Azerbaijan ("IBA") under its revolving credit facility. This credit facility was suspended whilst the Micon environmental review was carried out. However, this drawdown of $10 million follows the recognition by the Government of Azerbaijan that there is no environmental contamination at Gedabek following the release of the Micon environmental report.
The $10 million tranche has a fixed interest rate of 6.5 per cent. and is repayable over 3 years. Interest is paid monthly and there is a six-month capital repayment grace period. The loan is then repayable in equal monthly instalments over the next 30 months. The funds will be used for capital and other expenditure to restart the Group's operations.
The loan has been drawn down under the Group's AZN55 million ($32.3 million) credit line. $3.5 million was also drawn down in early July 2023 as a one-year fixed term working capital loan with a fixed rate interest of 5.5 per cent. Interest is paid monthly on the loan and the principal is repayable at the end of the term.
The Group's remaining undrawn credit line with IBA is $18.8 million. The Group has also drawn down a $5.6 million term loan with Access Bank in Azerbaijan which is secured against a $6.0 million deposit with the bank and carries an interest rate of 6 per cent. At 6 September 2023, the Group had cash of $20.3 million and total borrowings of $19.1 million. |
It’s worth noting the Trafigura agreement had room to take another $2m dollars. (We were permitted to borrow it once flotation started - instead we repaid their initial $3m) |
27 August 2024
Anglo Asian Mining plc
Vendor Financing Facility with Caterpillar Financial Services Corporation
Receipt of proceeds of $3.7 million loan
Anglo Asian Mining plc ("Anglo Asian" or the "Company"), the AIM listed gold, copper and silver producer focused in Azerbaijan, is pleased to announce that its subsidiary, Azerbaijan International Mining Company Limited ("AIMC"), has received the proceeds of $3.7 million under a Vendor Financing Facility Agreement (the "Facility") with Caterpillar Financial Services Corporation ("Cat Financial"). |
@bumpa
No worries. And yes re “messing about”. Now Demirli is back in Azeri hands I’d say there won’t be anymore messing. We will safely have enough resources to develop Xarxar and Garadagh as it stands. As you say, just time to execute needed. |
Debt servicing between H1 and H2 little changed.
(0.8)
(0.9)
Trafigura advance H1 of $3 Million repaid late H2
Gives me the thought like JB states above that peak juggling is over. |
AiE - how are they servicing that debt in the interim, with the international bank of Azerbaijan? Personally, if I were a holder here I’d like to see them stop messing about with investing in other companies and concentrate solely on their own prospects. It’s a distraction I think they could do without… |
I guess most of the world doesn’t yet know Demirli will be ‘25. It hasn’t been spelt out explicitly by the company. You need to have read between the lines. Or have been told it on this BB.
Demirli is ‘25.
:D |
@bumpa
When I met Bill in November he said he thought a short term loan (for say $10m for 12 months) was likely to be taken just to make cash flow easy rather than juggling stuff. I’m guessing the price of metals has meant we haven’t had to bother so far. Now the flotation is up and running I’d guess we were past peak “juggling̶1;? |
2cmb,
Despite vowing never to be an investor again life’s events stopped me having the time to trade so I just made the decision to leave what I had in AAZ to ride.
Now things have improved for me I look at AAZ and I look at possible trading opportunities and I keep coming back to the same thought right now and that’s to sit on my hands and use my time elsewhere.
This may change if the market improves and other opportunities arise.. |
Bumpa' very good post by you.
There are many things in AAZ's past history,now I feel they are all in the rearview mirror.
All to look forward to IMHO of course.
I flow with the water here, hence I have decided to pay a visit to Azerbaijan at the backend of April. |
Q4 2024 Sales, inventory and cash update
· Total gold bullion sales of 6,031 ounces at an average price of $2,655 per ounce (Q4 2023: 2,416 ounces at an average price of $2,004 per ounce)
· Copper concentrate shipments totalled 1,173 dry metric tonnes ("dmt") with a sales value of $1.5 million (excluding Government of Azerbaijan profit share) (Q4 2023: 2,186 dmt with a sales value of $2.3 million)
· Positive free cash flow in H2 2024 of $1.1 million
· Substantial increases in metal prices during last year should considerably benefit the future revenue generated from the delayed production
· Careful management of the balance sheet during FY 2024, to mitigate the partially suspended production during 2024, resulted in net debt only increasing by $4.6 million during the year
o Net debt of $14.8 million at 31 December 2024 (30 September 2024: $14.0 million)
· $3.0 million advance from Trafigura repaid in December 2024
· Inventory valued at $4.0 million at 31 December 2024 (30 September 2024: $2.7 million) |
Good morning Guys.
Wan' you have been doing your homework and burning late night oil.
Hobbies Lad, you need hobbies to kill that boredom.
Very good post.
LOL, AIE I think slowly you are converting to be an investor here.
JB' your input is always appreciated.👍;
Have a good day all. |
AAZ surely just needs time and confidence to return and be reflected in the share price The further the nasty incident disappears into the rear view mirror, combined with the numbers to show they’re once again throwing off cash, plus eventually a return to dividends, will surely then be reflected in the price. Until then it’s a waiting game… the market doesn't like surprises obviously, that will take time to turn sentiment around. The numbers in T/U’s etc that they’re back on track will surely ease those fears going forward. But always gotta keep an eye out there ain’t any more ‘problems̵7;. Is cash an issue in the short term? I haven’t kept an eye on it recently… the company has had its share of issues in the past, that’s how most of us found it in the first place, hopefully it can have a clear run for once… |
Good post Wan. Looking at the trend the share price was getting ahead of itself when it bounced off £1.20 but it looks like with the right newsflow as expected it should sail through that resistance?
Do you not think that the reason the share price is just over £1 is due to lack of cash? Something that’s going to change very quickly given the high commodity prices and the ramp up in production? |
Nicely explained wan.
A profit of over $100m is easily envisaged. As you allude to when each share is making a buck in profit the share price won’t be anywhere near £1. Some people will wait for the company to prove it… you pays your money you takes your choice. |
 Any time I get a bit too bored with the waiting, I watch this,,, again & again....
Each time, I end up dancing around my living room by the end of it :-) :-)
Measured & Indicated assets, value in the ground => $5.5Billion...
(MCAP at $129m)
AAZ should end up with a multi billion $ portfolio...
21 June 2024 - Anglo Asian Mining's path to boosting copper and gold output...
how on earth the share price is still where it is,,, is totally beyond me :-) :-)
to anyone looking in, for all the stocks we discuss here, please do take half an hour to look into AAZ, by simply watching this!!!
It might just have the potential to change your life :-)
(NIA, please DYOR,, I am not qualified to give stock recommendations, I am an amateur, novice LT private investor with no professional experience in this area)
"currently we have around 400,000oz of Gold in the portfolio"
Cheers
Wan :-) :-)
& don't forget, "the trend is your friend" :-) :-)
free stock charts from uk.advfn.com
free stock charts from uk.advfn.com
free stock charts from uk.advfn.com |
Good morning all, Cheers Wan :-) |
""There can only ever be 21 million coins issued. Of which 19.95 million have already been created so only about 5% are left to be mined around the whole world. The supply is guaranteed to keep diminishing in line with the algorithms, with the last coin estimated not to be mined until 2140. Can't think a better asset to have at least some of your money in.""
I understand,,, but, why, if, another BTC is set up with say, a max of 10 million coins, to be issued by 2350,,,, same algo, different end goal & timescale etc,,, would investors not move from BTC to BTC2,,, I just don't get it... soz :-)
night all :-)
Cheers
Wan :-) |
one day the chickens will come home to roost.......
night all :-)
Cheers
Wan :-) |
😜😊😅😂8077; |
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