Share Name Share Symbol Market Type Share ISIN Share Description
Ariana Resources LSE:AAU London Ordinary Share GB00B085SD50 ORD 0.1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.05p -2.86% 1.70p 1.65p 1.75p 1.75p 1.675p 1.75p 4,436,231 16:07:16
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 0.0 -1.5 -0.2 - 15.26

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Trade Time Trade Price Trade Size Trade Value Trade Type
15:09:581.7510,000175.00O
15:07:001.7047,058799.99O
14:58:211.7066,0671,123.14O
14:51:231.7025,000425.00O
14:50:151.701,000,00016,964.00O
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DateSubject
24/4/2017
09:20
Ariana Daily Update: Ariana Resources is listed in the Mining sector of the London Stock Exchange with ticker AAU. The last closing price for Ariana was 1.75p.
Ariana Resources has a 4 week average price of 1.63p and a 12 week average price of 1.63p.
The 1 year high share price is 2.23p while the 1 year low share price is currently 1.30p.
There are currently 897,791,783 shares in issue and the average daily traded volume is 2,712,168 shares. The market capitalisation of Ariana Resources is £15,038,012.37.
18/4/2017
21:50
bigglesbingham: The Sherie prophet article I suggested that AIM-listed gold (then) explorer and now producer was a buy a couple of months back as we awaited the commencement of production. At the time the spread was 1.7-1.85p per share and they duly headed north as the final bits of paper arrived and the first pour was announced, only for the shares to fall away again. Meanwhile the gold price has been a one-way ticket north. I'm very puzzled - what is going on? With humble apologies for the performance thus far...I still reckon it is a buy and here is why.First up the apology: everything I had hoped for – permits and first pour are in the bag and we have had a strong gold price on top. I may delighted to have been Mystic Meg – but I'm left looking a bit of a twit because having been holding out for 2.25p to sell off a bit of my own holding the shares never quite made it before falling away and closing for the Easter break on a spread of 1.65-1.75p. I apologise for the loss (so far). The old stock market saying that it is better to travel than to arrive has rung very true.The maths was, to me, compelling. The production plant is held in a joint venture which has taken on $33 million of debt, plus some loans from the JV venture partners which are broadly similar. At 20,000 gold-equivalent ounces to be produced per year at a cost of around $600 the joint venture entity would chuck off, at $1233 gold when I first suggested the stock, something of the order of $38 million over three years – more than enough to pay off the $33 million debt. After that the rest is split between the JV partners, Ariana getting 51% - about $6.46 million a year (call that £5 million a year) for at least five years.The mine life is, officially, still sitting at 8 years but further drilling analysis and noises from the company suggest an upgrade to 11.5 years is not far away, with the hope that eventually a 15-year mine life will be achieved. Do the maths: 8-year life is worth about £25 million to Ariana. At 15 years it would be around £60 million.But the gold price has moved higher since then. It is not a pleasure to see because the reasons (tensions with North Korea, the Syria air strike) are depressing. But think what you will of the geopolitical situation, the gold price has gained strength. I have always viewed an investment in gold as an insurance policy and investing in a near-producer (now producing) as a leveraged version, albeit with delivery risk.So on last week's closing gold price of $1288 3 years of 20,000 gold-equivalent production by Ariana's JV mine at Kiziltepe will throw off about $41.3 million – enough to repay that $33 million of lending and still hand out around $4 million to Ariana – call that £3.3 million, £1.1 million a year.After that, on the (current 8 year mine life) Ariana would be set to trouser $7 million a year - £5.6 million - for five years. A mine life of 15 years would see a total of over £70 million coming in (before costs of further exploration etc). With Ariana on a market capitalisation of just £15.3 million those numbers suggest to me that Ariana looks way, way too cheap just on the basis of the Kiziltepe mine alone. Income may be limited for the first three years but surely Mr Market is being far too impatient!The question is how much cash will Ariana spend on further exploration (and plc overheads, boardroom costs etc) before the big money starts to roll? In other words, is there a placing around the corner?I am told that the company has no need to raise further cash currently, and that the planned exploration work is already funded. That doesn't rule out the company pulling in more cash, though!Ariana is still looking to build up its inventory and so exploration costs will continue. The big question is whether Kiziltepe can be managed so as to provide that cash, or whether further fundraisings lie down the road. I can't say that I'm reassured by the no "current" need for cash.On the other hand, chatting to the company before and at the UK Investor Show it seems that there is some flexibility as to future funding. The company could use higher grade ore to bring up the annual production figures. It is also looking at tweaking the plant to process a bit more ore (at what cost I know not, but I gather it would be a simple and relatively inexpensive improvement).The nearby Tavsan project is still being proved up but plans are afoot to see that moved towards construction and production. By utilising the Kiziltepe plant the capex should be relatively modest: crushing on site then truck down the road to an upgraded (to cope with extra capacity) Kiziltepe. How long that will take, well, who knows. It could be 3 years....or not! But Tavsan is surely is worth a few quid already.Then there is the Salinbas project, something like 1,000 miles away from the main sphere of activity: that could be proved up a bit more and sold. Unlike Kiziltepe and Tavsan it is 100% owned so the company could try to go it alone and get all the profits, JV it as with the others or just decide it is too distant from current operations and sell it on. There are also a few shares from the sale of the lithium project which might bring in a few coins for the meter. Finally, although there is a timetable of paying off the $33 million of debt owed by the Kiziltepe JV, I gather that there is quite a bit of flexibility in the timing of payments – provided the total is paid down on time.There are, therefore, some funding options going forward. However I fancy that Kerim Sener, the big cheese, is an ambitious fellow – he would need to be to have got a project from green field to production in Turkey by a very small company on AIM. He's got one project off the ground and I would imagine he'll want more so as to grow the company.Had the share price done what was, in my view, the decent thing and headed north on news that production had commenced and a first gold (and silver) pour taken place I don't suppose the company would have hung around for long before charging up the coffers on the back of it.But it hasn't happened. I wanted to lob out a few shares at 2.25p and that hasn't happened either. Yet the maths is all the more compelling now than it was a few weeks ago, with production having started (albeit in ramp-up until June) and a higher gold price. Surely the company is worth a good bit more now than it was when the plant wasn't quite finished, the various final permits not yet secured and with lower prevailing gold and silver prices!One could speculate that the share price is telling you something - that there is a placing on the way. Or it is telling you that the sell-on-the-news brigade have sold out, causing the share price to drift and a few more have either got bored or had stop-losses triggered and headed for the exit. One could be uber-cynical (moi?) and wonder whether there are some shorts out there hoping to close out their positions by subscribing for a placing. I sincerely hope that last case is just uber-cynicism and that in such circumstances (not that this sort of thing ever happens on the world's most successful growth market) the company digs its heels in and lets them fry.In my view the shares are cheap and the company is run by decent people. In fact, some years ago, the company tried its best to get its shareholders the best terms it could to raise cash by offering out free warrants to existing shareholders who simply needed to ask for them. It would have worked but for the financial crisis, stock market crash and the price of gold falling off a cliff. I have great respect for the management of the company trying to get its existing shareholder base the same terms as new money coming in, even though the best of intentions were undone. If the company wants a bit of extra cash I hope it will consider its shareholder base first, rather than going to the bucket shop spivs and trashing the share price.Meanwhile, we are where we are. I apologise for a tip which hasn't worked out at all as I'd expected. But I'm a buyer at these levels: I think the price is anomalous. Turkey may not be East Surrey, the plant may still have to demonstrate planned production levels and mines can go wrong. But even discounting future cashflows by a savage annual 15% my maths says the shares have something like 50% upside. And of course, as time goes by and (assuming all goes well the debt is paid down then the current value of future cashflow goes north.So I still say buy, price target (short term) 2.25p. - See more at: http://www.shareprophets.com/views/28461/ariana-tip-update-production-rising-gold-shares-down-what#sthash.7pmAwg3p.dpuf
16/3/2017
10:54
gold map: Welcome lifts in Gold spot price and well established Gold mining shares in the USA & Canada yesterday plus UK this morning. As I mentioned previously FED rate increase was already factored in, bonus was only +25% instead of possible +.5% and a less Hawkish Fed statement going forward. According to Ariana's morning share performance it's still being priced as a small exploration company and not a gold producer (more driven by News than Gold price) Will be interesting to see the jump in awareness and share price, hopefully sharply when Gold goes in the box and they are classed as a producer and generating real income.Maybe a AAU tick up later today or tomorrow as quick profits on other stocks get diverted here? AAU a dependable longer term play :) imhoOff to prepare for St Patrics tomorrow, have a good one!
21/2/2017
19:05
plasybryn: Hi Nov31. Great to hear you are such a big supporter. I heard your concerns and as a sizeable shareholder I hope Kerim will listen to those. You deserve to be heard. Can I ask if you have had direct contact with him in the past? He is so approachable and in my opinion genuine/straightforward. Perhaps you are planning to attend this years AGM or Master Investor in April, or one of the Mining Maven events. I would also like to see them move away from Beaufort. I really don't think Boards generally view things however quite like ADVFN posters!. Their priority is to get the job done (working for shareholders) & the share price is largely irrelevant as they think years rather than months or even weeks or dare I say even days/hours in some traders case! Kerim can obviously see the big picture and the value opportunity over the next 5 years or more, which I'm sure he wants loyal investors to all share in. He would be unusual if he was worried about what the share price will be next month. He is now on the cusps of transformation with so much potential he is spoilt for choice where he directs his attention. I wonder if he ever believed he would secure 100% of Salinbas for next to nothing. But he gets little appreciation generally from shareholders Over the next few months, leading up to the AGM, I suspect we will all get a much greater feel for how the Board want to bed down the strategy. The price target for the Board is not 2.5p or 3p, and Kerim knows that. He is thinking 50,000 ozs. even 100,000 ozs p.a. if he develops Salinbas and a share price well into double figures. I can make a case for 40p. B.B. are probably OK for traders but if you believe in the people, the financials & the story, it is just a matter of accumulating, as you have done so successfully at bargain prices. Everything else is just noise & impatience. Sorry for being so verbose.
14/2/2017
11:25
charles clore: The market appears to be disapproving of today's news. Personally I think it's good to note progress has been made, albeit predictable and hardly a monumental event. As I said before, since Stratex announced production (which this isn't) 15 months ago it hasn't done a thing for the share price but I am reminded of the fact it's a different company with different players.... erm, yes but it's in the same country, similar geology, similar mining and processing method, similar jv and licence requirement to restore the mining area to its original condition post-mining. The share price could hover around 2p for quite a while yet - especially if today's selling on news is anything to go by - until it produces income for Ariana. That is the predictable route on the one hand. There could be one or two rabbits pulled out of the hat along the way that could enhance the share price but production is not one of them imho.
30/12/2016
09:09
bapodra_investments: 2017 is the year for Ariana. It will announce first gold pour albeit slightly delayed. Then it will become a gold producer and start earning its first revenues. This is an absolute game changer for the share price and I would be surprised if the share price was below 3p this time next year which is still nearly a 100% rise from the 1.50 levels. The key will be if increasing volume is in line with an increasing share price. This will be an extremely positive sign.
30/11/2016
11:48
crossfirecssf: Getting very close to a resolution of this pattern. 1.75p would pretty much confirm a breakout as far as I can see. It'll definitely be interesting once gold has completed its correction. This correction is going to be great for the next up wave. As John Embry says, we're at the capitulation stage for many long terms gold buyers. It's been a crushing correction psychologically, and many bulls are finally throwing in the towel. Once the bottom is hit (anytime now), the next stage will be orchestrated by strong hands and committed bulls who are in this for the final resolution no matter what. Ariana are looking strong in the face of this correction and things will get interesting in a few days I believe. We're going to see both a bottom in the gold price, and a resolution of the AAU share price as indicated by the extremely strong looking pennant pattern which sits on an upward trend now almost exactly ten months in duration. What could make the next move significant is that the two things could happen on the same day potentially. I think we're within a few days of a significant turning point.
27/10/2016
13:45
charles clore: biggles - The fundraising RNS and the coup earlier in the year really spooked a few people, unnecessarily imho because the company was on track for production by year end then and nothing has changed. Not wishing to delay production the fundraising was therefore chosen over other means of paying for the necessary drilling to eliminate delays in reaching production by Q4. I believe the raising was unavoidably necessary because of the project timeline, the prevailing cashflow situation and a reluctance to delay production into 2017. No harm done to the project but misunderstandings abound which tends to upset nervous traders who don't welcome changes of plan and are only happy with a constantly rising share price. Therefore I can only assume that we have an inordinately high proportion of nervous traders following AAU and they are not happy bunnies right now. So instead of sitting tight and waiting for the price to rise on production they are probably jumping off, dribbling the share price down and buying back when the price is closer to 2p. The share price will almost certainly hit 1.5p which would make a nice entry point just prior to production imho.
07/10/2016
10:14
carcosa: bigglesbingham - nice post. I have been an active investor since 2001 and been living off my investments since 2006 (my only source of income) and it takes all sorts of investors to make a market. I certainly would not promote an environment that demands constant updates every five minutes to drive the share price. I actually dislike such calls on management. I prefer the management to concentrate on the business and totally forget about the share price in principle. Investors should determine the share price and not management. For every share I hold I have various targets i expect the business to meet and if they do, then I remain invested. Your post is a good round up of the sorts of material targets that I would have for Ariana. I first came across Ariana many many years ago and kept an eye on them until they reached one of my targets; which essentially meant less hype and more practical application; whereupon I became an equity investor. It is wholly rational that in these days of minute by minute share price watching that investors/speculators are always looking for the next piece of news but often end up constructing an imaginary environment, often with a shed load of conspiracy theories which over time become folk law which inevitably has nothing to do with reality. WRT to the Panmure note I think there was a complete misunderstanding as to what it was about and its intention. Panmure is the start of a long term arrangement which is aimed at providing a tangible return in a 2-4 year time frame. So, bigglesbingham, keep posting like you have as it focusses on items of which I find of particular interest; some may not but there again if we all agreed all the time it would be a dull world of investing.
15/7/2016
22:50
ebomber: Unfortunately political events will adversely impact AAU share price on Monday. Just hope it is short term............
05/7/2016
10:11
charles clore: From the latest final results: The consideration from Lanstead has been treated as a non-derivative financial asset and its fair value has been determined by reference to the Company's share price at the balance sheet date as measured against a benchmark price of 1.33 pence for the first equity swap agreement and 1.20 pence per share for the second agreement entered into during this year. If the actual share price exceeds the benchmark price during any of the 24 settlement months, the Company will receive more than 100% of the monthly settlement due. Should the share price fall below the benchmark price, the Company will receive less than 100% of the expected monthly settlement on a pro rata basis. The final settlement under this agreement was received in March 2016. I am guessing this means that whereas during the settlement months of the agreement if the share price exceeded the benchmark price (1.2p) Lanstead would have to give some of that excess sales proceeds to AAU, now that the agreement has ended they are free to take whatever they manage to squeeze out of the market for the stock they still hold. So this may be why the price is being allowed to move up.
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