The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
As a result of agreeing to the plan, the miner is now free to restart all its operations, adding none of the measures will involve significant expenditure.
The restart will be carried out in stages and mining will recommence immediately, with the flotation plant to restart approximately 90 days before the wall of the existing tailings dam has been further raised.
This will utilise the remaining capacity of the existing tailings dam at its current height, said Anglo Asian.
https://www.proactiveinvestors.co.uk/companies/news/1032265/anglo-asian-to-restart-operations-after-agreement-with-azerbaijan-government-1032265.html
From RNS:
The Company maintains its Full Year 2023 production guidance of 30,000 to 34,000 gold equivalent ounces ("GEOs"), as announced in its 2023 Interim Results.
Todays RNS is very positive including production.
Nice RNS to try and keep Shareholders sweet but the Elephant in the Room is the other ‘G’ word.
Deafening silence regarding a timeline for restarting operations. That is what the market is interested in, not Gilar. Every passing week makes a fundraising more likely.
Production commencing H1 2024. All looking good and glad they have been keeping busy.
Nothing to do with war, issues are internal.
When will Gedabek get up to capacity, can growth be funded with existing resources or need a raise, what’s happening at Gilar…
LewSur no it doesn’t actually. But since you clearly understand their double speak perhaps you’d care to explain the ‘positive’ slant you clearly have on this?
Personally I see NO timeline indicated for a full resumption of operations and I conclude from that its because THEY don’t know either.
And for that reason this is currently a SELL
Dibs, does this section of the RNS, which you did not mention, help?
Full Year 2023 ("FY 2023") production guidance of 30,000 to 34,000 GEOs issued with the interim results
o Assumes no flotation and agitation leaching production for the rest of 2023
o Guidance will be updated if flotation and agitation production is restarted before the end of the year
I read the title which included the line….
“Gedabek set to fully resume operations following environmental inspection”
And thought that sounds very positive the RNS will tell us the details of the resumption of operations….
Oh no…
This is all it said : “We look forward to updating the market in due course regarding the resumption of agitation leaching and flotation processing at Gedabek and progress against our stated growth strategy."
So in my view this is really misleading. The title says operations are set to fully resume but then we are told they will simply tell us in ‘due course’??
When the hell is ‘due course’?
Absolutely no indication when that will be. And they have run out of cash and are drawing down on overdraft facilities.
Not good.
****goestheeasal
the problem is with all proactive and the likes, there revenue solely rely on the participation on contributions of the companies being discussed.
they're not journalists or independent by any means. in reality, they're no more than a method of distribution for companies selling shares.
Starting to look interesting on the daily from a TA point of view now.
Aggressive RSI divergence from very oversold position with the 50 ma resistance getting shorter everyday whilst the 20ma is finding support.
Just another week at around this price and we'll be looking at a 20/50 EMA golden cross to add to the above.
Resistance for time being still the 50EMA which is now 63 down by about 0.70% over last week whilst the 20 is now 60 over the 59 print last week. Closer these two poles get to each other the greater the chance of a reversal.
Isnt his salary more than value of his shares?
What a truly bizarre interview. Bill showed that he was well up in all the positive exploration and production development taking place but as for the elephant in the room not a peep! Without the ability to use the tailings dams nothing will be produced. No money coming in and no guarantee of the company's future.
No wonder the share price was going down. Presumably the interview was warned off the subject but it didn't reflect well on proactive investors nor AAZ.
Currently down 17%
Https://www.proactiveinvestors.co.uk/companies/news/901442/anglo-asian-mining-buoyed-by-rising-metal-prices-901442.html
So this was posted yesterday, so may see a correction from the earlier drop. Looks to be a bargain price if quick.
The share is flat on it's back. If Steve knew something when he bought Mr Market is not seeing it!
I would say in the few weeks we should get recommencement of mining activities judging by the previous RNS yday, however I have no crystal ball.
It also seems the issues NK is calming down as everyone has left and also AAZ taking steps to implement the outcomes of the micron report.
So closer than last week but not quite on the money yet
Phat - thanks but you haven’t answered my question. My question was How long will the process of re-opening the mine AND returning to full production capacity take?
Don’t get me wrong the report was better than hoped but it was not completely’all clear’ as there are recommendations. It’s great that they met some villagers too, a long overdue PR exercise. But none of what you have said is relevant to my question.
So, the answer…..I’ll give you a clue, it doesn’t happen instantaneously….
Well it just seems logical, the micron report gives us an all clear, AAZ have had a productive meeting, the only next stage is mining commencement.
Let’s see, Steve’s purchase of shares is very positive
Hmmm. No mention of the feedback given by the villagers. Hopefully the promises of extra bribe dosh, sorry ESG money will help
Phat - a question….since you appear to have a greater understanding of mining matters than I how long will the process of re-opening the mine AND returning to full production capacity take? In your considered view?
Great RNS on the meeting with the village, should put a floor in the share price, next stage will be commencement of mining, I believe that could come as early as this week, then back to business and also potentially given new mines
This is the kind of buy we want to see.
Dibs, I think they're doomed of they and doomed if they don't
Balance sheet is in tatters, there's significant costs associated with ramp up. Essentially it's like opening a new mine they have to ramp up to steady state and commercial production all over again. What's the readiness of the ROM pad for instance, actual mining will have to occur before the ramp up in processing capacity occurs.
It ain't a cheap process