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Thought it worthbring to your attention as news by end of August,via laresr RNS.

RNS Number : 3987Q
Anglo Asian Mining PLC
03 August 2010
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Anglo Asian Mining plc / Ticker: AAZ / Index: AIM / Sector: Mining
3 August 2010
Anglo Asian Mining plc ('Anglo Asian' or 'the Company')
Phase I of the Realistic Mineral Resources Model Report - Gedabek Update

Anglo Asian Mining plc, the AIM quoted gold producer, announces that it has been
advised by its mining consultants, SGS Mineral Services ('SGS'), that the final
JORC compliant resource results of Phase I of the Realistic Mineral Resources
Model Report ('the Report') at the Company's Gedabek gold/copper mine in
Azerbaijan ('Gedabek'), are now expected to be available by the end of August
2010. The resource upgrade, which SGS has indicated will exceed existing
figures by at least 50% for the measured, indicated and inferred gold, copper
and silver metal contents at Gedabek (RNS:13 April 2010), is well progressed,
however additional work required at the modelling stage has necessitated a
longer timetable than expected. Gedabek's resource currently stands at 702,000
ounces of gold, 37,500 tonnes of copper and 6,100,000 ounces of silver.

The Report represents the first phase of SGS's work; the second phase of the
project will involve in-fill drilling to increase the reliability of the results
obtained from the original drill holes and for metallurgical/environmental
assessment of the mineralisation. This work is expected to be completed in Q4
2010/Q1 2011 and will increase the Board's confidence in the new resource
evaluations. It is the Board's intention to prepare a new Mineral Reserves
Statement after completion of the second phase of the project in order to comply
with the JORC Code for producing mines by first half of 2011.
**ENDS**

http://www.investegate.co.uk/Article.aspx?id=201101100700051330Z
http://www.investegate.co.uk/Article.aspx?id=201104060700073739E

http://www.investegate.co.uk/Article.aspx?id=201105260700112995H

http://www.investegate.co.uk/Article.aspx?id=201107110700080987K


http://www.kitco.com
 Anglo Asian Mining plc / Ticker: AAZ / Index: AIM / Sector: Mining 15 June 2011 Anglo
http://www.investegate.co.uk/Article.aspx?id=201110250700257564Q
http://www.investegate.co.uk/Article.aspx?id=201205100700130166D
http://www.investegate.co.uk/Article.aspx?id=201205230700128773D
http://www.investegate.co.uk/Article.aspx?id=201206070700058471E
http://www.moneyam.com/action/news/showArticle?id=4448509
http://www.investegate.co.uk/Article.aspx?id=201210080700051083O
http://www.investegate.co.uk/anglo-asian-mining-%28aaz%29/rns/q4-2012-production-and-operations-update--gedabek/201301090700061182V/
http://www.investegate.co.uk/anglo-asian-mining--aaz-/rns/gedabek---gosha-gold-mining-update-azerbaijan/201309110700106797N/
http://www.investegate.co.uk/anglo-asian-mining--aaz-/rns/interim-results/201309260700089223O/
http://www.investegate.co.uk/anglo-asian-mining--aaz-/rns/record-gold-production-q3-2013---gedabek/201310100700081597Q/
http://www.moneyam.com/action/news/showArticle?id=4728736

http://www.investegate.co.uk/anglo-asian-mining-%28aaz%29/rns/q4-2012-production-and-operations-update--gedabek/201301090700061182V/

Undervalued gold miner.

AAZ currently is valued at £34m with about £32m of debt.


By the end of 2014 AAZ will be producing at least 80000 oz of gold/year at a cost of $500 per oz.
With gold at $1400 per oz.
This equates to 1400 - 500 = $900 gross profit per oz
or 80000 x 900 = $72m gross profit for year 2014
$72/1.5 = £48m gross profit for year

Anglo Asian Mining plc, the AIM listed gold producer in Azerbaijan, provides an exploration and operational update from its flagship Gedabek gold/copper/silver mine ('Gedabek'), and Gosha Gold Project in western Azerbaijan.



Following the commissioning of the Company's new Agitation Leaching Plant in June 2013, which was constructed to improve gold recovery at Gedabek, the Company is pleased to report that it has recorded its highest monthly gold production on record since the mine first poured gold in May 2009. For the month of August 2013 gold production from the agitation leaching plant and original heap leach operations totalled 7,600 ounces. The Company is due to announce its quarterly gold production figures for the three months ending 30 September 2013 in early October 2013 and the FY 2013 gold production target remains at 60,000 ounces.



In terms of exploration and development at Gedabek, in April 2012, the Company announced an updated JORC compliant resource of 48,138,979 tonnes at 0.825 g/t gold for 1,276,422 ounces of gold in the Measured and Indicated categories, and in June 2012, the Company announced a maiden minable reserve at Gedabek which totalled 20,312,879 tonnes at 1.139 g/t gold for 744,038 ounces, 0.293% copper for 59,479 tonnes, and 9.456 g/t silver for 6,175,531 ounces (see press release 07.06.12). Since then, an extensive 28,872 metre drilling programme has been completed which targeted an extension of the existing mine at Gedabek with the aim of further increasing the mineral resources and reserves as part of Anglo Asian's exploration and development programme. An updated resource report prepared by the Company's geological consultants and Competent Person, CAE Mining International Ltd ('CAE Mining'), had been expected by the end of June 2013. However, CAE Mining had experienced unforeseen delays and delivery of the report has now been promised by 30 September 2013.



At the Company's second mining operation, Gosha, which is located 50km from Gedabek, significant progress has been made in the development of the mine. The ore vein has now been intercepted and a trial batch of 100 tonnes of ore was mined on 4 September 2013. The Company will continue development work on the mine and will start regular ore production at Gosha later this year. The Gosha ore is high grade and it will be trucked to Gedabek and processed through the Agitation Leach plant, from the beginning of 2014. This high-grade, underground mine, once fully developed, is expected to produce circa 15-20,000 ounces of gold per annum. In light of the recent record production figures from the Company's flagship project, Gedabek, and with the commencement of first ore at Gosha, Anglo Asian expects to see its total gold production rising to between 80,000 and 90,000 ounces by the end of 2014, subject to both the Gosha mine and the Gedabek Agitation Leaching Plant operating as expected.



Anglo Asian CEO Reza Vaziri said, "I am delighted to report that gold production from our Gedabek mining operation has reached a record high since the implementation of our new agitation plant earlier this year, with over 7,600 ounces produced in the month of August. In addition we are expecting a reserve upgrade at Gedabek in the near-term which will see an increase in the amount of the mineable ore-body and in-turn life of mine.



"In addition to this we have seen exciting developments at our second gold project, Gosha, where we have begun early mining activities. From here we will continue to develop the operation with a view to processing the ore mined at the Gedabek plant in 2014. This will in-turn optimise economies of scale of our Gedabek processing operations as we fully utilise our processing capacity of both our agitation and heap leach plants, enhance the low-capital and operating costs of our second mining project, and generate further cash-flow for the Company in 2014."



For further information please visit www.angloasianmining.com or contact:

Taddishs thoughts from another bulletin board
Today's news is better than expected and in agreement with zhockey I think the company is taking care not to over-promise nor release all the good news at such an early stage. There may be some hiccups any disappointing developments will need to be offset by better-than-expected updates.

So, Gedebek seems to be fully commissioned and possibly beating expected production levels. Gosha is also on track at the top end of expectations. The updated resource statement is a key factor too and hopefully the CEO's stated anticipation of an increase will extend Gedabek minelife beyond the current 6 years.

The present short minelife wil be holding the SP back, so I see the promised RNS in 3 weeks' time to be a significant stage in investors' appetite for AAZ. A good resource upgrade could well accompany a statement from the company on future dividend payments. The company has been considering dividends from the end of this year (the CEO mentioned it in a video proactive investors interview several months ago), so if the price of gold doesn't take another dive, we may have some good news to attract the smaller institutions as we enter 2014.

All up, I'm very comfortable with AAZ - if we get a good resource update ideally with better grades, then the company will be ticking all the boxes ....

Low cost
Low risk (open pit)
Highly profitable
Highly cash generative
Consistent year on year growth in production volumes
Extended minelife
Several licenses yet to be exploited
Supportive government & financing
Not over-endebted, with loans expected to be repaid out of cashflow within 2 years

Gold price aside - a pretty safe investment and at a PE ratio of around 2.5 based on after-tax profit.
AAZ's already a bargain and any increase in gold price from today's level should light some fires under the SP too.

Tad

now up 13%

Fundfemale thoughts from another bulletin board
The management team have done an absolutely fantastic job of commissioning the new agitation leaching plant here, and with the subsequent reduction in cost per ounce, they made a really smart decision in stockpiling the 90k ounces ore, we have well and truly moved up a gear.

I am full of anticipation for the reserves upgrade at the end of this month -Gedabek is a substantial area - check the dimensions, I believe we have not got even close to mining Cholpan yet. Gedabek is a fantastic operation and has much support from the staff and local community - it will continue to run for many more years than current conservative estimates and is a beacon in the new economy of Azerbaijan. I know we cannot count our ounces before CAE hatch our new resource report, but the very charming geologist I met at mines and money believed that the deeper exploration drilling was excitingly bountiful, if I may be that effusive!?

To anyone who waits in the sidelines, do not wait too long...

Gosha is a little nugget, delighted they intercepted the ore vein, when I visited the site the geologist told me a little secret re. some extraordinarily high grades. 15 -20,000 ounces is very high for a little place, this is HIGH GRADE.

Apologies for gossip and ramping, hope you understand.

I have never been a weak holder.

Good fortune to all invested.

Jumping Chinese gold imports on pace to 1,000 tonnes

China continues to pile into gold, with record breaking imports record of 129 tonnes in July, as compared to 76 tonnes in July 2012.
Related Stories


Author: Shivom Seth
Posted: Thursday , 12 Sep 2013

MUMBAI (Mineweb) -

Even as the Indian government is seeking to restrict gold imports and is coming down hard on gold loan companies across the country, China could well be on its way to import 1,000 tonnes of gold for the whole year if recent buying trends continue.

China has imported through Hong Kong 129 tonnes of physical gold in July, from the 113 tonnes it imported in June, according to the Hong Kong Census and Statistics Department.

This is the second highest import level on record in a month and a year-over-year increase from 76 tonnes in July 2012. The July imports are also over and above the 518 tonnes of gold imports the nation already brought in the first six months of 2013, according to available data.

The country continues to buy at record levels, importing on an average, over 100 tonnes of gold every month for the last five months.

To put the scope of buying in context, the largest gold ETF (electronic traded fund) in the US holds 919 tonnes of physical gold, and China has imported over two thirds that amount in just seven months.

In May China’s gold imports from Hong Kong had increased to 127 tonnes from 76 tonnes in the same month last year. In April, China imported 126 tonnes of gold.

A note by investment bank HSBC states the "recent pull-back in gold prices, sub $1,400/oz level, may be an encouraging sign for price sensitive physical buyers to step back into the market. That said, China’s gold imports may remain at elevated levels for the medium term."

The bank added, "Physical gold demand in China has clearly picked up in July, after gold prices hit the year to date low of $1,181/oz on June 28. This increase in demand helped contributed to bullion’s price recovery to over $1,300/oz at the end of July."

On a net basis, and after deducting for scrap, China’s gold imports from Hong Kong totaled 113 tonnes in July this year, more than double the net imports of 46 tonnes in July last year.

Meanwhile in neighbouring India, high gold imports for the first six months of the year have got the government knocking on temple doors to check on gold treasure troves, in a bid to arrest the economic crisis.

See also: Indian government officials covet temple gods’ gold

India, which competed with China with its near double digit growth rates a few years ago, appears to have lost its shine in recent quarters given falling investment growth.

To curb India's consumption of gold and help shrink the nation's current account deficit, the government has hiked import tariffs four times in a year's span, while reducing the same only once.

It could well be this is year China overtakes India as the largest bullion consumer.
hxxp://www.mineweb.com/mineweb/content/en//mineweb-gold-news?oid=204726&sn=Detail

looking good here :-0

http://www.investegate.co.uk/anglo-asian-mining--aaz-/rns/interim-results/201309260700089223O/


Overview
· Profit before tax of US$4.2 million (H1 2012: US$10.5 million)
· Gross profit of US$9.3 million (H1 2012: US$14.2 million)
· Revenue of US$27.6 million (H1 2012: US$30.1 million)
· Operating cashflows before movement in working capital of US$10.5 million (H1 2012:US$15.5 million)
· Gold and silver dore production at flagship Gedabek mine from heap leach operations totalled 15,039 ounces gold and 9,999 ounces silver, from agitation leach operations totalled 2,458 ounces gold and 662 ounces silver (H1 2012: 21,641 ounces gold and 12,174 ounces silver all from heap leach)
· Gold sales of 14,229 ounces (H1 2012: 18,135 ounces) at an average of US$1,561 per ounce (H1 2012: US$1,644)
· Produced gold at an average cash operating cost of US$564 per ounce of gold (H1 2012 US$767 including the Government of Azerbaijan's share
· Production target for H2 2013 at Gedabek is 42,500 ounces of gold resulting in a target of 60,000 ounces of gold and 27,617 ounces of silver from heap leach and agitation leach operations collectively for FY 2013 from Gedabek
· Copper and silver production from SART operations at Gedabek totalled 166 tonnes and 17,590 ounces respectively - sold 1,500 wet metric tonnes of copper concentrate to Glencore and realised US$5.1 million of revenue
· Target of 420 tonnes of copper and 60,000 ounces of silver expected from SART operations for FY 2013
· Continuing to develop a high grade underground gold mine in the Gosha Contract Area - first production anticipated Q1 2014

· Development and Production Programme in 462 sq km Ordubad Contract Area submitted to the Ministry of Ecology and Natural Resources ("MENR")

· Net debt, including interest-bearing loans and borrowings less cash and cash equivalents totals US$46.4 million

Exploration update will be the key( imho),greater reserves will increase mine life and so the SP(that's how should work)?.


"...However, CAE Mining has experienced unforeseen delays and delivery of the report has now been promised by 30 September 2013...."

Plenty of interest here,(up 1.5p to 33p, 4.5%) on Monday's resource update?

http://www.investegate.co.uk/anglo-asian-mining--aaz-/rns/record-gold-production-q3-2013---gedabek/201310100700081597Q/

http://www.moneyam.com/action/news/showArticle?id=4728736

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/12/20_LBMA_Chairman_Tells_Producers_Gold_To_Plunge_$400_In_2014.html

These guys seem positive on miners - http://www.spreadbetmagazine.com/blog/titan-investment-partners-why-were-backing-the-mining-sector.html

nichie,click on the link(chain)above this box,delete the http and paste your link to allow direct access(see below). Hope this helps?


http://www.spreadbetmagazine.com/blog/titan-investment-partners-why-were-backing-the-mining-sector.html

BUY Target 40p
•Anglo Asian has today released drilling results testing a high grade gold mineralisation 400m north of the operating gold/silver/copper Gedabek mine.
•Best intersections from hole 107 include: •5m intersection grading 47.2 g/t gold from 245m to 250m down hole depth


The intersection includes: 1m at bonanza 207.1g/t gold, 42.02g/t silver and 2.86% copper;
•6m intersection grading 7g/t gold from 277-283m
•10m intersection grading 3.04g/t gold from 302 to 312m
•Drill hole, no 107, has been driven to a depth of 450m and located in close proximity (c.20m) to previously completed holes 86 and 106.
•Hole 106 drilled in October last year showed impressive results including: •233-241m with grades ranging from 4.96g/t (Au) and 14.07g/t (Ag) to 36.19g/t (Au) and 129.27g/t (Ag);
•296-337m containing 41m at 7.6g/t (Au) including 1m at 101g/t (Au) and 78.7g/t (Ag) at 313m level.
•Management plans to complete two more drill holes for a total of 900m in the area as part of its c.3,000m exploration programme in Q1/14.
•Exploration slowed towards the end of 2013 as the diamond drilling rig was relocated for use within the Gedabek gold mine.
•A geophysical survey is planned for the second quarter to determine future drilling targets.
•The depth of the mineralisation suggests the Company might drive an adit into the side of the Gedabek hill to access this ore.
•Exploration results have so far demonstrated good intercepts, but more drilling is required to define the continuity of the mineralisation in order to consider the area for future mine expansion. Geophysics and additional holes will provide further insight into the potential of the discovered area.


Conclusion: The high grade intersections suggest this area could provide high grade ore from underground mining for blending with run of mine ore from Gedabek to substantially increase the overall value of the mine. Further drilling should confirm the value and overall potential impact of ore from this areas relatively quickly.

* SP Angel acts as Nomad & Broker to Anglo Asian Mining

(From company's brokers SP ANGEL)

I've been following this company long time now, and I can't understand the logic here. More good news about further development of the existing and new projects - more the price is going down. Yes, I understand that price of gold changed in mean time but not as much as price of shares dropped in the same time. Anybody could share their views ?

Anglo Asian Mining* (LON:AAZ) – Accounting treatment causes company to warn on results

• Anglo Asian Mining today report that it expects its company results to be ‘significantly reduced’.

• The company is in the process of preparing its financial results for last year and expects profits to be hit by higher sales costs and by ‘accounting treatment’.

• The revaluation the cost of inventory carried such as copper concentrates, stockpiled ore and gold within the circuit may account for much of the accounting adjustment for the results.

• We believe the company’s cash balance of $5.4m at end 2013 should not be affected.

• The company remains cash generative and continues to pay down its debt with $51.7m outstanding at the end of last year.

• The statement is disappointing but we do not see the accounting treatment of the forthcoming results to affect the running of the company.

• We forecast Anglo Asian’s total operating cash costs to be around US$641/oz for 2014 and US$585/oz 2015. These costs do not include administration and do not account for the impact of the PSA, production share agreement.

• We will revise our forecasts on publication of the results.

Conclusion: The revaluation of the cost of inventory should not impact the operation of the business. Gold production is forecast to remain steady at 64,500oz this year and 71,000oz in 2015 (our forecast) with lower grade gold ore from the Gedabek mine sweetened by higher grade ore from the new Gosha gold mine.

The company reported potential for new high grade gold and copper resources just 400m to the north of the Gedabek gold mine in January. We continue to look forward to further news on this front.

* SP Angel acts as Nomad & Broker to Anglo Asian Mining

StockMarketWire.com 14th Jan 2016

Anglo Asian Mining saw significant growth for its flagship Gedabek mine in Azerbaijan in 2015.

Gold production for Q4 totalled 17,930 ounces with 12,996 ounces from the agitation leaching plant, 4,593 ounces from heap leach operations, 6 ounces from SART processing and 335 ounces from flotation (Q3 2015: total 18,164 ounces).

Copper production for Q4 2015 totalled 335 tonnes, 205 tonnes from SART processing and 130 tonnes from flotation (Q3 2015: 216 tonnes).

Silver production for Q4 2015 totalled 17,710 ounces with 1,373 ounces from the agitation leaching plant, 485 ounces from heap leaching operations, 6,589 ounces from SART processing and 9,263 ounces from flotation (Q3 2015: total 4,439 ounces).

Anglo Asian's FY 2015 production was:
- Gold: 72,032 ounces, a 19% increase over FY 2014 production of 60,285 ounces

- Copper: 969 tonnes of copper, a 24% increase over FY 2014 production of 784 tonnes

- Silver: 28,626 ounces, an 8% decrease on FY 2014 production of 31,177 ounces

Chief executive Reza Vaziri commented, "This has been a significant year of growth for Anglo Asian at our flagship Gedabek mine in Azerbaijan. Gold production was the highest recorded and we met our production target set at the beginning of 2015. Gold production in the year increased 19 per cent. to 72,032 ounces and copper production increased 24 per cent. to 969 tonnes.

"With production at Gedabek increasing, the successful launch of our flotation plant in Q3 2015 and our continuing plant optimization to improve efficiencies and cost controls, I believe we have delivered on our turnaround strategy this year to return Anglo Asian to profitability. I look forward to reporting on our developments during the course of 2016 as we continue our momentum of establishing Anglo Asian as a leading mid-tier gold and copper producer in Caucasia."