Anglo Asian Mining Share Discussion Threads

[brasso3] 30/6/2015 10:56

Just picked up 55k also. It was hard to buy any over the last hour.

Had to pay 6.1p but that will be insigificant in a few months time.

[bumpa33] 30/6/2015 10:47

there doesn't appear to be a seller down here, just taken me 15 mins to squeeze 100k in two shapes...! MM's bidding heavily all round the tracks.

[goldrush] 30/6/2015 10:29

jb2

Many thanks also.

[ferries5] 30/6/2015 10:14

Jbravo2
Great information post
Many thanks

[jbravo2] 30/6/2015 09:39

Some notes:

June production will be up from May. It's going to be a strong quarter.

The plant is on budget and schedule. Should come online in July-Aug and we should be selling product from it by September.
The plant is being built alongside the AL plant for multiple configurations. It can treat ore before or after the AL plant. It can have previously treated tailings added to recover previously "lost" metal.
The big, big difference this plant will make is the costs. The cyanide/ammonia use should be much better. Some very low figures of costs were quoted to me but they will need a full year of flotation to be sure. So costs down this year and massively so in 2016. In 2015, even with only 4 months of flotation sales, they should clear $15m.

Gadir going to schedule. Also a couple of other high quality zones have been identified which are being drilled. Resource updates will follow. The mountain pushback was expensive and co-incided with us coming across higher copper zones (some zones are over 0.8% copper - thats better than some copper mines I reckon). It was a perfect storm in 2014 but it is past and 2015 will see strong results. 2016 will be far far stronger still as we will have a full year of the flotation plant.

They did have offers of the $4m from ATB but it was less onerous with Reza. They think the Azeri banks would have helped too if asked.

Ordubad will be worked further once Gedabek/Gadir is nailed down.

Gosha is continuing to provide modest amounts of ore but with high g/t Au. They have changed to more manual methods of extraction and have costs of production here of only $300/oz. Problem is the veins are narrow. Therefore problematical to drill for resource, just follow the veins.

The SART plant will continue as is. Getting good results.

They will continue with the dual leaching i.e. crushing the higher quality low grade stuff and just treating uncrushed low low stuff. Now have 10 leach pads.

They are chasing a notice re the selling. It is not any insider and the usual suspect is presumed. It is the responsibility of the individual and they are relatively powerless to enforce him.


My opinion:
This share price is set to climb significantly. The results month on month are going to point out this turnaround fairly quickly. They've started already with better results from the AL plant. Whilst the flotation plant doesn't add huge numbers in terms of ounces of gold, it is the cost reduction that is the benefit... and of course all the lovely extra copper.

[mattjos] 29/6/2015 13:06

Well Q3 is virtually now upon us so, in addition to the Q2 production figures we should, at some stage, get details about the new plant when they move to the commissioning phase. The material is ready and waiting to be run through it.
As already observed, this should then bring the CAPEX spend right back down and enable the debt to be increasingly serviced and paid back down from cashflow (and not require the CEO to step up again).
Jun/July has historically proven to be the low point in the annual gold price cycle so, we should be increasing production, with lower costs, into a period of firming gold prices thru Q's 3 & 4.

[jbe81] 29/6/2015 12:27

Nice to see buying the sp, could see a nice rise before q2 productions figures, and a further rise on the back of that

[brasso3] 29/6/2015 12:21

Matt

Patience. We will get that update in 2 weeks time. :)

[captain_crash_and_burn] 29/6/2015 12:16

And yes, it certainly appears to be curtains for the Greeks, it's a shame but altogether inevitable given the populations inability to come to terms with the way they must behave if they wish to stay a part of the eurozone.

It's a shame and with all that is going on to their east I see some quite dark times ahead for Greece which will end up washing up on Europe as well. Doubt Greece will spur too much of a recovery on gold but I think at 1150+ any gold mining company really should be able to make a profit!

[captain_crash_and_burn] 29/6/2015 12:14

Nothing major in the statement but fairly upbeat to be fair, hopefully they are underpromising as I am hoping for 80k ounces in 2015, look forward to the Q2 prod figures, could really do with some information on the bottom line before this really starts turning around but after the last jaw dropping update things appear to be running a bit more smoothly.

[mattjos] 29/6/2015 12:07

I had hoped they would take the opportunity to give a progress report on the flotation plant construction, given they have to incur the cost of the AGM RNS, a simple sentence such as "The plant is nn% complete and that is xyz compared to the schedule with regards budget and project plan."
Some up to date photos on the website of progress would also be helpful .. they were keen to do so for the other plants when they were in-build

[jim digriz] 29/6/2015 12:04

I liked it, particularly the last five words of this sentence.

During the past year we have been highly active as we have focused on development at Gedabek and Gosha in Azerbaijan and on increasing our gold, copper and silver production at the lowest possible cost.

[mattjos] 29/6/2015 11:15

predictably bland AGM statement

[brasso3] 29/6/2015 06:30

Gold price up slightly over night. Nikkei down 2.5%. Should be a grim week on the markets.

[mattjos] 28/6/2015 21:18

lets see how the Greece situation influences price of gold this week, coupled with last week's interest rate cut in China

[brasso3] 28/6/2015 10:51

Surely only the Russians can save the Greeks now from leaving the Euro and possibly the EU.

[brasso3] 27/6/2015 22:44

The end is near for the Greeks.

[mattjos] 27/6/2015 22:07

Wonder if Greece will prove now to be beginning of the end of Europe. Can but hope

[mattjos] 26/6/2015 14:03

still no bid for it during the intra-day auctions

[brasso3] 26/6/2015 12:12

The capital expenditure will be reduced now going forward so they can start chipping away at the debt.

[captain_crash_and_burn] 26/6/2015 11:51

surely at 19k oz's the bottom line has got to start looking good.

[brasso3] 26/6/2015 10:35

Interesting buying today. I think we could be looking at Q2 results close to 19,000 oz. We already know that April and May is around 12,000 oz.

Q2 2014 was 15,736 oz.

[asturius101] 26/6/2015 10:21

Added a few k myself just over 5p

[captain_crash_and_burn] 26/6/2015 09:43

Ahh, it almost looks like I timed my buy well, something is very wrong!