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Should be with us soon and hoping for a positive outcome should send shares back to £1
Looks like I was wishful thinking? Mining is such a slow costly business and nothing happens quickly. I am still a holder.
On a Friday afternoon - maybe news on Monday? Or is that wishful thinking?
$900 million worth of copper defined to a high level confidence at Xarxar, not bad for a maiden MRE!
The caveat being “future production” is at least 18 months away even assuming they go through early stage open pit and can feed their existing operations. They need to get on with defining those early years project economic estimates and secure the mine finance.
Sounds more than promising. I hope this is the first of many positive announcements. This company does know how to mine.
Agreed it always looked a strange investment. Maybe still have some value or maybe not? Lets concentrate on Azer as they already have enough on their plate.
Libero was a costly distraction. It's good they've realised the need to concentrate in Azerbaijan but bad that they've probably wasted their double investment
Anyone noticing copper starting to climb
It is typical AAZ style to never get deadlines right at all, let’s hope it comes in within the next week, I am ready to buy a significant amount given no defects
From the Interims:
It is expected that permission will be received in January 2024 provided the independent inspection reveals no defects in the wall.
News was not promised, more like targeted.
AAZ should be releasing dam news this week according to their RNS, will they keep to their word ?
From interim results
Tailings storage at Gedabek
The current tailings dam is almost full and the Company has submitted plans to the Government for a further 7.5 metre raise of the wall to give sufficient capacity for two to three years of production. This raise will be carried out in two stages with the first raise of 2.5 metres being completed in approximately four months after permission is obtained. This permission will only be granted following a further independent inspection of the stability of the tailings dam wall commissioned by the Government. It is expected that permission will be received in January 2024 provided the independent inspection reveals no defects in the wall.
Totally agree, once Dam wall raise permit has been issued and full production then it could easily get back to £1.20
Excellent that AAZ have posted with exceeded copper results. Had this share when it was £1 - 20 + and paying a decent dividend. Realise the dividend will not be returning in a hurry, but seems to have been oversold, so it may get back to the eighties in price fairly soon.
Wrong site. Time to say goodbye!
You realise 48.5p was paid last week and 50p paid today and yesterday??
Price is 56p ?
BushyTailed
Posts: 3,846
Price: 71.00
No Opinion
RE: JORC RNS Finally Out11 Dec 2023 11:10
I tell you what, just to prove that my comments have zero influence over the share price, I'll pop back in at 50p to say hello.
Gl
I have made money on this share several times.Now ,looks to be a good time to invest,as news expected soon.This rose from 44p to 80p in 2 or 3 weeks,just a small time ago.Watch an even bigger rise ,on good news.Not much time to get in before news breaks.
Can not trust my brokers chart info , my notes were a better guide to 26/9/23 price.
I did not know the reason but do now
26th Sep 2023 Tuesday 11:13am Alliance News
Anglo Asian Mining shares plunge 40% as profit drops in first half
Anglo Asian Mining PLC on Tuesday said profit fell in the first half of 2023, as revenue declined and cost of sales increased.
Shares in the AIM-listed copper, gold and silver producer focused on Azerbaijan plunged 41% to 37.83 pence each in London on Tuesday morning.
In the six months that ended June 30, Anglo Asian Mining said pretax profit fell 75% to USD1.4 million from USD5.7 million a year earlier.
This was due to cost of sales rising 24% to USD25.2 million from USD20.4 million, while revenue fell 2.2% to USD30.8 million from USD31.5 million.
Looking ahead, Anglo Asian Mining said it will be primarily focused on working with the Azerbaijan government to fully resume mining and processing at Gebabek.
"Longer term, we will remain committed to pursuing our strategy to become a mid-tier miner and delivering attractive shareholder returns," the company said.
Chief Executive Officer Reza Vaziri commented: "Our results for the period were satisfactory, and within expectations, given that we were predominantly only mining from our open pit mine. The ore mined contains reducing gold grades as the mine approaches the end of its life. However, copper production increased as the processing capacity of our flotation plant was increased and a higher proportion of the capacity of our crushing and grinding circuits was utilised to provide it with feedstock.
"The curtailment of our agitation leaching and flotation processing whilst an environmental inspection was carried out, whilst regrettable, was understandable. The company has fully cooperated with all government requests to ensure the environmental inspection was carried out properly and to expedite other related matters. The report by Micon of the environmental inspection is currently being finalised."
Due to the curtailment of agitation leaching and flotation processing, Anglo Asian Mining said it revised its production guidance for 2023 to between 30,000 and 34,000 gold equivalent ounces, assuming agitation leaching and flotation processing will not be restarted until 2024.
There are very good reasons for the very low price, recovery and re-trace, which I am sure you are well aware of. Patience will be rewarded. Next catalyst will be news on the existing tailings dam raise and permission for the new one, followed by resumption of use of agitation plant.
The Company together with its subsidiaries is involved in the exploration and development of gold and copper projects in the Republic of Azerbaijan
Had an order on 26/09/23 to buy more at 36p chart shows it was around today's price of 56p down 10% today .
Cheaper a month later 26/10/23 at 42p missed that.
A clime to 80p by 29th November , only one month from today .
Not to many posts this site on this one .
Still well down on my two buys.
bep 147p
2/3/21 Buy 142p
29/1/21 Buy 152p