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I just wish Mattjos would post here as well. I think that now we have a clear upside of 50p to the SP with latest news. Be nice to read his views, as he has visited site in the past. We did achieve 175.00 on less promising news and now we have other investments as well (not forgetting divi).
I find it amazing that anyone would be selling at only a couple of % higher than yesterday based on this mornings RNS... 5.4% copper + 3g/t gold over 33metres?! That's huge. And multiple holes hit >2% copper too.
It looks to me as if they are heading for a much more even split between gold & copper output and resulting revenue as their current mines are low grade copper. Once the market sees the revenue coming in then this will be far above current levels & also be sporting a much bigger dividend IMO.
Gold5, I wouldn't give up on ADVFN some very good posters on the Mattjos thread.
Been in AAZ from the start. So nice to see posts on this web site. As I have struggled with the advfn site as many other posts not AAZ have spoilt that discussion board . Hopefully it would be nice to have this the primary posting page if it were possible.
Well said Balanced66
Most of the popular and well known gold mining companies and for that matter most global mining companies are in jurisdictions other than Western ones. This is the norm. Even for companies of the pedigree of Barrick Gold, Anto***asta etc. Look at something even like Franco-Nevada perceived as a safe investment and it invests globally and only around 35% is in the US and Canada.
That is the nature of mining. If investors cannot accept these risks then mining as an investment theme is not for them.
What AAZ have to their credit is a very strong relationship with the Azerbaijanian government which is sometimes lacking with other mining companies.
A solid profitable operation with huge resources underpins the lowly valuation.
Tornadotony I like your posts, you have a lot of interesting things to say. However, here I disagree with you. Mining is inherently and uncertain business compared with other demand focused businesses. Future demand particularly that in developed countries can be predicted with reasonable degree of accuracy, black swan events like pandemics excepted. Mining companies have to deal with uncertain supply and demand! Also they need to go to places where, let's say, standards of governance are not that of democratic countries. Add in a war and you have a difficult business to be in for all concerned.
Yet despite this AAZ have consistently paid out a high dividend, presided over a generally rising share price and continued to built their resources and reserves. I have invested in a number of junior miners and AAZ along with THS are, I consider, the best.
They're not perfect, for example, I'm not sure what the ultimate aim of the Columbian investment is and they certainly dodged a bullet with the proposed Irish involvement. A change in regime in Azerbaijan could be a problem but that is currently not on the cards.
Investors are still flying blind on AAZ. I only have a modest position that is 1/3 of previous holds because of no clear strategy of where they are going and when and what production is likely to be over a 3 year period. Azerbaijan is a volatile place to invest in and a strategy that is well thought through with a clear investment story line would certainly take AAZ higher. Otherwise it is a bit of a lottery ticket holding. Until the company does the big reveal the liquidity and interest in AAZ is likely to be small investment punts like 2.5% of a portfolio.
I was heavily critical of AAZ last year, loaning cash, buybacks, mates of mates mines and dividends well under what they could afford but very glad they're now releasing mine development, hitting production guidance and I'm eating back my words. The SP could well get back to it's previous levels if they keep this up and back it up with production. Glad to have held through.
This has a long way to go, I’ll be surprised if it be orange get to an all time high this year. Brilliant company, not the first to shout about good news but they’ve started the year shouting about Gilar which tells me they know it’s a big winner.
RNS took out the resistance this morning.
Gold lost the breakout support line this morning despite a weaker USD. So far holding but chart hints of resistance regarding a move higher.
Compared to the current gold price = more profit, this share is currently undervalued…
Once future development plans and production guidance is given this should gain momentum pretty quickly, hence I believe my target will be reached in pretty short order, it won’t take much to move us back to previous heights and some, it’s been consolidating sideways for sometime now GLA
It was good news and images given that can be seen on London exchange website RNS show some of the work. However the RNS did not give a hint when the 135000 ounces will be mined out and for what time period. Hence little reaction.
Look forward to 2023 production guidance.
Tony, I suggest you take a look at the monthly chart of AAZ - MACD cross just happening. Should be safe to let it run for several months, in line with Au/Ag and general equity prices. New bull leg started in autumn when real yield spreads turned negative, happens less than a handful of times per decade.
Only took a little off at 102 the other day so I had funds to rebuy if the chance comes to fruition. I suspect it will go back up again at some point when it hits the right FIB point. Some stock are going back to 50 day or 200 day moving averages to find a new support line.
Caracal is a low quality company and someone had the good sense to pull finance this morning. So that price collapsed 25%. The geology of a low grade low volume resource is not economic to mine without any surrounding infrastructure. Why some idiot posted this on AAZ that has experienced intelligent investors is beyond me.
Follow-on investment in Libero Copper & Gold Corporation
19.8 per cent. holding maintained as part of Libero's CAN$2.0m placing
Anglo Asian Mining plc ("Anglo Asian" or the "Company"), the AIM listed gold, copper and silver producer primarily focused in Azerbaijan, is pleased to announce it has made a third investment in Libero Copper & Gold Corporation ("Libero") to acquire 2.6 million new shares at CAN 15 cents per share for a total consideration of CAN$390,000 (US$289,000).
The investment, which maintains the Company's 19.8 per cent. shareholding, forms part of Libero's recently launched private placement with gross proceeds of approximately CAN$2.0 million (US$1.5 million) to be used for exploration at the Mocoa and Esperanza copper porphyry projects in Colombia and Argentina respectively. Further information about Libero's properties can be found at: https://www.liberocopper.com.
Libero is listed on the TSX Venture Exchange (ticker LBC) and owns, or has the right to acquire, several copper exploration properties in North and South America including Mocoa, one of the world's largest undeveloped copper-molybdenum resources. Anglo Asian now holds 18.1 million common shares in Libero, as well as a total of 8.9 million warrants exercisable at CAN 22 cents and CAN 75 cents per share as set out in the table below.
Libero provides Anglo Asian with exposure to significant copper resources, in addition to the Company's fully-owned projects including the world-class Garadagh resource. Anglo Asian is currently at the final stages of developing its medium-term growth strategy, culminating in its transition to becoming a copper focused, mid-tier mining company.
Anglo Asian CEO Reza Vaziri, commented: "We are pleased to make a third investment in Libero in little over a year. With an exciting range of significant copper assets across the Americas, and an experienced management team, we have the upmost confidence in Libero to develop these assets in a swift and responsible manner. I look forward to updating our shareholders on Libero's progress in the coming months."
Absolutely shameless. You've copied that post onto many gold producer chat boards today.
The spread is a bit of a disappointment. MMs keeping volume trading to a minimum.
Some theme music.
https://www.youtube.com/watch?v=ntG50eXbBtc
Pleasantly surprised that someone finally remembered they mine gold and silver out there. Meyer did them a favour the other day by mentioning AAZ.