Anglo Asian Mining Share Discussion Threads

[jbe81] 20/6/2016 15:26

the auction action here a bit more interesting and informative than the rest of the days trading

[brasso3] 19/6/2016 23:36

Matt

Your gold and silver charts are playing up again. :)

[zhockey] 19/6/2016 23:22

Hopefully the drifting Brexit odds will well and truly deter any hot money in gold next week. I think we'll see 1260 maybe and then another go at 1300 after the vote.

[wrighty46] 19/6/2016 22:50

For me purely on a pog. If it closes above $1308 in the next few sessions I can see a pretty sustained rise. I'm not ramping but with what I think will see a rise in pog and hopefully some new news from the company some fireworks maybe just round the corner. I'm in, not alot in the way of funds to add but might get a few more this week. GLA

[philo124] 19/6/2016 21:21

Ok but I thought receently in this recent run up it correlated with the postponement by the fed, if I'm wrong fine. My prediction is that gold will fall on next rise in US rates. But I'm no guru, did add at 5p by 150%.

[zhockey] 19/6/2016 21:13

Phil, but the rise started when interest rates were raised in the US?

[philo124] 19/6/2016 18:05

I think the delay in raising interest rates in the US has been a significant driver in the move up.

[brasso3] 19/6/2016 12:38

A lot of predictions across the internet about the impact of a BREXIT on the gold price. Most see gold rising above $1300 this week with some predictions up to $1400. More interesting maybe that most do not see the EU referendum as the main driver for the rise in gold at present. I think it needs to close above $1310 to confirm that the down trend has finished and that a new bull run has begun. Interesting week ahead.

[philo124] 19/6/2016 09:13

Thanks Mattjos for the rationale.

[mattjos] 18/6/2016 22:58

Phil, in a long term EW 5 wave pattern it is Wave 3 that is typically the longest & it is also the wave most likely to extend, particularly in the case of a commodity related chart.Wave 3's are typically 1.62, 2.62 or (with extension) 4.25 multiples of Wave 1.Wave 1 on the chart is clear to all .. It went from 3p to 80p - a 77p advance.Wave 2 was horrible .. It wiped out virtually 100% of Wave 1 in its quest to close the gap left at 3.5p, but crucially did not erase more than 100% of Wave 1. So, the long term pattern is intact.Having closed the gap it formed a 12 month base from 4p.So, let's do the theoretical maths. Using 4p as the start point:77*1.62=124.74. Add that to the 4p start and we arrive at 128.74.77*2.62=201.74. Add that to the 4p start and we arrive at 205.7477*4.25=327.25. Add that to the 4p start and we arrive at 331.25

[philo124] 18/6/2016 19:53

I will retire again!

[gutterhead] 18/6/2016 16:45

If it goes to 240p, I'm retiring lol

[jbe81] 18/6/2016 16:13

yep, all depends on price of gold, £2.40 could be conservative

[jaspoland] 18/6/2016 16:03

If gold went to $4000 anything is possible. Be interesting to see how this plays out.

[philo124] 18/6/2016 14:52

Mattjos, 240p? I think you must have been on the sherry. 120p I can dream about.

[brasso3] 18/6/2016 11:15

Thanks, Good to have confirmation from multiple sources for May production.

Gold = 6018oz (without flotation plant production)

[ferries5] 18/6/2016 09:58

More accurate production guide




Azerbaijan increases precious metals extraction: over 12 tons of gold produced first time

Baku, Fineko/abc.az. Azerbaijan, which started industrial production of gold in July 2009 and publication of accompanying silver production in 2010, decreased production of gold by 13.1% for 2016, while production of silver increased by 4.7-fold.

The State Statistics Committee (SSC) informs that for Jan-May 2016 the country extracted 946.6 kg of precious metals (including 219.4 kg in May), that was by 0.9% less than a year before.

Stock reserves of precious metals as of 1 June 2016 totaled 70.6 kg (-5.6 kg in May).

Over Jan-May 2016 production totaled 784.3 kg of gold (187.2 kg in May) and 162.3 kg of silver (32.2 kg). At that, by 1 June 2016 stock reserves of gold totaled 46.9 kg (-16.3 kg in May) and 23.7 kg of silver (+10.7 kg).

In 2015 the country extracted 2,367.2 kg of precious metals, including 2,229.3 kg of gold and 137.9 kg of silver.

In 2014 production totaled 2,111.8 kg of precious metals, including 1,872.5 kg of gold and 239.3 kg of silver.

In 2013 the country extracted 2.249 kg of precious metals, including 1,619 kg of gold and 630 kg of silver. In 2012 the country was produced 2,188 kg of precious metals, including 1,562 kg of gold and 625 kg of silver.

In 2011 country’s extraction of precious metals amounted to 2,992 kg, including 1,775 kg of gold and 1,217 kg of silver. In 2010, extraction reached 1,900 kg of gold and 1,500 kg of silver. From July 2009 to 1 January 2010 the country extracted 333 kg and with taking into account the production in 2010-16, the overall gold extraction reached 11,558.42 kg and silver extraction at least 4,372.7 kg.

The Environment & Natural Resources Ministry estimates that the country is able to produce about 10-15 tons of gold per annum.

[mattjos] 18/6/2016 00:01

good point Cel

[celeritas] 17/6/2016 23:56

I also wonder how much cash in a world full of negative yield will go into gold. Could be a wall of money looking for a safe haven.

[mattjos] 17/6/2016 23:51

Brasso fwiw, I like to look at the charts with the following settings:


Daily: EMA 13,0 & 49,0 (as this statistically is a much more accurate 'golden cross' indicator than the default herd setting/belief.
MACD 21,81,2

Weekly: Just watch the 30 week EMA for a volume driven upward cross, after a basing period, with two 2 weekly closes above. That's the simple one to obey.

The former would have given a 4.5 - 6p entry. the latter a 7.2 entry if you were optimistic/brave but, a 12.5 entry if you went strictly by the rules.

Apart from all that mumbo-jumbo, I have closely followed the company for 7 years now

[celeritas] 17/6/2016 23:46

Gold isnt interested in Brexit. Yeah it might flutter around a bit but the real drivers are massive debt problems in major economies. Gold is the only safe haven and has been for ions, who knows where it's going, could be 10k for all we know.

[mattjos] 17/6/2016 23:25

Brasso, at 34p (seems a long time ago now) I sold the rest of my 19's and said it was going to close the gap @ 3.5p and would buy back then. (Yea, I missed 80p but, that was merely the opening Act)
I did just that & since that day, it has behaved perfectly. That was 3 years ago, approx.! It formed a basing pattern which virtually but, critically, did not quite erase most of the Stage 1 rise (very typical) & importantly did not form a new low.
Since then, it's behaved perfectly. Now that timescale likely does not suit most people but, it does me.
We have clearly moved beyond the basing stage now & beyond two critical long term chart down trend points of resistance. As each has cleared, the buying has intensified.
It's a fascinating process to observe, witnessing selling beget selling and then, after time, buying beget buying.
Am quite happy to hold and watch and wait and see if 240 is ultimately reached. By then the first two dividends will cover all the buy costs

[zhockey] 17/6/2016 23:07

Terropol,

The bookmakers odds are just too clear at this stage. This is sign of where people are putting their money and it's categorically IN

Either way I think the gold link is way way overblown. If the UK does vote out the hot money may trade up gold a bit but it will fall back to it's cycle soon enough.

[brasso3] 17/6/2016 22:43

For those kind of multiples it would require a mega surge in gold beyond $2000.

I am interested to know why they are so confident about the target of 73,000 - 77,000oz for 2016 given the poor Q1.

-- Gold production target for the year to 31 December 2016 ("FY 2016") is a total of between 73,000 ounces and 77,000 ounces (which includes approximately 4,000 ounces to 5,000 ounces of production from the flotation plant)