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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
Stehen Westhead, Vice President, purchased a total of 51,002 ordinary shares.
Following these transactions, Stephen Westhead holds a beneficial interest in 286,002 Ordinary Shares
I can’t see 64p being broken until they have confirmed mine re-opening plan. If it’s rapid - good - if not - not so good.
64p is solid, if can't break it then we're going lower again
Dibs - I take your point about not getting carried away but from the summary I have read there is nothing wrong with the tailings dam. It passed all technical tests.
The issue is with expanding it. The report didn't criticise its design aspects or the way in which the company wished to implement it but rather said they needed to improve its communications. Not sure how you measure "communications" or judge sufficient progress is being made so that flotation can start again....
Phatstyle - quote ‘mining could resume any day now’
You are aware of the issue with the tailings dam right? If mining is going to ‘resume any day now’ what is your proposed solution for the tailings dam?
I put through a large trade to sell ( but didn’t).
Normally it wouldn’t let me do that but it gave me a good price and instant sell. ( unusual) .
Conclusion. They want shares and the price is heading north!
Totally agree here, copper price seems to have recovered nicely too. This should be 100p very soon IMO, mining could resume any day now
There’s no reason now why we shouldn't be back working at 100% within a very short space of time.
The report wasn’t damning in anyway and just a few normal practices to catch up on. The locals should be appeased with the new tailings dump as the report stated there’s no problem. Should all be upwards from here.
Be quiet Dibs, you most likely sold too soon. Each to their own
Decided to take profits for now. We’ve had two decent days of rises and now I think a pause while market waits on mine reopening plan. This is now key. If it’s rapid - all well and good. But any further delay for any reason and it won’t be taken well.
Prepared to jump back in again if the mine reopens speedily.
AIMVHO
Some solid news and it seems we are heading in the right direction.
https://www.proactiveinvestors.com/companies/news/1028004/anglo-asian-told-to-communicate-better-over-gedabek-dam-plans-1028004.html?rel=scroll
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Goldprice in pounds near a 3 month high.....copper will rise as the world will need more copper and more copper resources...there will eventually be a big disconnect between supply and demand...AAz in a sweet spot....Rerate obviously needed , now the worries have been addressed...
Great news....No reason now for this share price....This should be quickly rerated back to over 100p.....
Oh dear, phatstyle has appeared to post his ramping nonsense 🙄
I think more like 80p, in the very short term as incoming starts flowing back.
New mines should just be around the corner now, therefore 100p v soon. Let’s see. This issue is now finally been put to bet and AAZ and shareholders can continue.
Also with Demirli about to be given back this adds to a new dimension
Pleased you folks have the info and visibility of what has to be done. I only wrote the one comment yesterday with the whole saga going on and had no position in AAZ. An exercise in demonstrating power over the company to the local people is the only reason why I can see this was dramatized as it was. The declining gold price at present would have the share at 60p in any case. As for 100p in 5 months time may depend on gold and copper prices that prevail at that time.
Totally agree Dib, I am shocked that the costs to put this episode right is near to nothing.
The company can now continue operations even sooner now and should see a nice steady climb in the share price. Glad this is all over now, would feel sick if I had sold within the last few days
I agree. Much ado about nothing. Negligible costs for improvement - largely administrative and communication rather than operational or infrastructure.
Now we need a rapid return to mining operations as there is no need for any significant delay in doing so that I can identify.
So basically there was nothing going on at all?, I am a bit confused that all of this was caused by absolutely nothing.
Better now that the costs to adhere to the report is basically zero and now AAZ can continue with operations as normal. Back to 100p v quickly
They have received the report back after due diligence ,so,everything looking good ....To suggest otherwise is nonsense as a full report would consider all aspects....So much to look forward to. I think 100p i 4-5 months and possibly more than 300p within 2 years is a sensible target.....This was 120p 6 months ago....and we have had much good news since then....