I’ve got slightly frustrated with odd individual shares, specifically my largest holding AAZ. Others have done alright throughout the year, so I’m not complaining too much. Royalty streamers like ELY were due a pullback, so always wise to take a bit of profit as nothing goes up in straight lines.
AAZ has frustrated me though, after paying a very good ever increasing dividend, it peaked around £1.70 on Thursday, before profit taking Friday on its exploration activities. Why? Diversification, well they recently announced an interest in Ireland with Conroy. Political risk, well they are so well connected if anyone does a little research into the directors links and background, too much to spell out here and perhaps a lack of understanding about the mine life and PSA. Kind of need to bear in mind the connections and look at the Behre Dolbear report from the previous Soviet era, to realise what they are sat on.
Trouble is, the don’t do glitzy headlines, the market can react to easily, they don’t issue shares like confetti that get bucket shops promoting their story. Instead they run a prudent, cash efficient operation, with serious management “skin in the game”, very firmly aligned to other shareholders. So they mine, prove up the resource and bank cash on an ever increasing basis. The next results will undeniably smack the market across the face, simply because of the cash balances; well they ought to but who knows.
This link is 91 pages of through detail and mining speak of their exploration and mining activities around the Gedabek contract area. https://wp-angloasianmining-2020.s3.eu-west-2.amazonaws.com/media/2020/08/05145223/H1-2020-Exploration-Activities-Gedabek.pdf
Gosha highlights the Asrikchay potential, particularly 1 and 3 https://wp-angloasianmining-2020.s3.eu-west-2.amazonaws.com/media/2020/08/05145230/H1-2020-Exploration-Activities-Gosha.pdf
Ordubad whilst separated from the main rump of Azerbaijan, still presents enormous potential https://wp-angloasianmining-2020.s3.eu-west-2.amazonaws.com/media/2020/08/05145230/H1-2020-Exploration-Activities-Gosha.pdf
So there is a lot there but its all a game of patience, I’ve been here 5 years and well rewarded, as have others. Still frustrating though when other miners have gone up at a much faster pace, than AAZ which has barely reacted. Sticking around though because I feel it will come, in time, with perseverance and a top class management team, least of all Stephen Westhead who seems right on his game.
That’s my little ramp for a while, as ever others will have to D.Y.O.R and not fancy it one bit.