Ariana Resources Share Discussion Threads

[crossfirecssf] 15/10/2020 12:49

Soulsauce, thanks very much again, I will indeed. Are you the Clarence to my James Stewart? :o)

Due to an article linked on here a few months ago, I’m also checking out GUN, a fund which has holdings in of many things an Asian alcoholic niche Spirit Company!

The little known news though is that they recently bought 28% of Rincon Resources, an exploration company in the ‘hotting up’ Patterson region of Australia with prospective property a few short km from GGP, and Telfer mine,...Interesting...

[charles clore] 15/10/2020 12:47

Cssf - would you mind saying how many you sold today? I'm just trying to get a handle on all those sells and I'm sure they are not all yours.

[lottsgold] 15/10/2020 12:30

Not a great day across the board, lots of uncertainty in US with the likelihood of no stimulus people may start positioning for another correction. Hopefully gold will hold up better if it happens this time. JV news or a breakout in gold and we will be off again the consolidation has been solid. I've traded some of the PUR's, PXC's and Avacta's this year and done well but I don't see anything out there undervalued and as safe as here if there is a correction this will bounce back fast.

[soulsauce] 15/10/2020 12:26

Great post gerry bang on.

[cyberbub] 15/10/2020 12:26

Gerry it's probably a lot simpler than that - people needing to offload some (and note it's fairly small volume) will typically wait until they can 'sell into strength' after a positive RNS.

[soulsauce] 15/10/2020 12:25

JAF you are right and it has been a shame that we have never been able to attract substantial institutional investment and that is one of the reasons I agree with bigglesbingham on PG.

[gerrystewart] 15/10/2020 12:24

What I find most astonishing and somewhat disconcerting is why people, who held up to and including yesterday and clearly didn't want to sell at a price in/around (or even under) 6.0p, somehow find today's news as a signal to offload. It seems perverse in the extreme. It appears analogous to 'Gresham's Law' where 'bad money drives out good' i.e that whereas news such as we've had in the last 3 RNS's would ordinarily lead to both long term holders increasing their holdings and new investors buying in but neither happens because each group is acutely aware of the existence of such perversity? It becomes a self fulfilling (and self sustaining) prophecy. I can't think what will be the catalyst for breaking this.

[soulsauce] 15/10/2020 12:22

Cssf add Ecr to the list, a very different company from what it was and another potential GGP in the making.

[lottsgold] 15/10/2020 12:21

If we don't get an interview today it's odds on more news very very close?! Can't wait to get the JV done and dusted would be a great end to the week!

[jaf1948] 15/10/2020 12:20

What today is telling me is that AAU is still predominantly a trader's share, notwithstanding the hard core LTHs on here.

Every piece of good news is going to be sold into so a sustainable rise may occur but will take much longer than many of us hoped.

[thanksamillion] 15/10/2020 12:13

Flag still intact. For now.

[philby1] 15/10/2020 12:12

Just added at 5.9p, so much good news flow imminent. :)

[crossfirecssf] 15/10/2020 12:03

Up we go, and back down we come! Still holding firm though. JV (final!) confirmation and divi still just around the corner.

[crossfirecssf] 15/10/2020 12:00

Konil and rennicks. I’m not off-loading as such, but as AAU was my only holding, no.1 I needed to diversify a little, so put some of my own money in and sold roughly 10% of my AAU, so I’m still firmly here for the longer term.

In terms of ‘rockets’; Konil, for me It’s important to keep the portfolio small (5-6 shares max), and so I need to select carefully. So far it’s been PALM and CHF and I’m checking out KAV thanks to a pointer from Soulsauce :o) (not to mention PALM). I also like the look of Cobra Resouces in Australia.

No.2 rennicks I hear you, and as evidenced by this morning’s RNS, we are still an explorer, but we’re still subject to a large degree to the standard fundamental valuation methods of the producer. We’re strong and steady however, still have the potential to multi bag, are a fantastic company and make no mistake, I’m going nowhere.

AAU still represent about 65% of my portfolio. I think that’s sufficient for me to populate the other 35% with the potential GGPs of this world (a company I decided against buying through caution and who have something like 400-bagged in the 3-4 years since).

I don’t want to make that mistake again, particularly as I believe that the PMs are itching to take off again, and a PI and fund manager change of tack could be quite swift and develop finally into the stampede faze.

[kirbs4] 15/10/2020 11:35

Every sale today is another leash removed when the news everyone is waiting on arrives. All good. Plenty of profit being taken and can't blame anyone for doing that, people mopping up the opportunity will be here until 8p so no complaints from me.

[charles clore] 15/10/2020 11:24

Another day of good news that would send any other miner price rocketing. Yet this fails to hang on to even a piddly little gain!!

[shortarm] 15/10/2020 11:19

Remember all the churn at 2p?Remember all the churn at 4p?Well, this is the Churn at 6p - we're swapping people who've made 50% for people who are buying here to make 50 - 100 - 200 percent.It's all good....

[soulsauce] 15/10/2020 10:49

Indeed dixi. I think we are very much on the same page.

Depending on how this performs the rest of the day it could very well go flat or negative on more good news.

[claretandbluedave] 15/10/2020 10:48

If this gets to a pound in the next couple of years I'll go around naked, forget the bloody t-shirt.

[dixi] 15/10/2020 10:41

I'm here to make money soulsauce, no other reason to be doing this. But it can be an emotional tangle too, hence the arrival of AAU t-shirts for investors etc. I'll wear one of those if this hits a pound a go in the next couple of years!

[soulsauce] 15/10/2020 10:34

That's exactly what it does dixi and when it has been tested before it gnaws away at you.

[dixi] 15/10/2020 10:24

It's very frustrating, selling the news without much uplift seems pointless. But everyone has their agenda. On the bright side this has to underpin the price, creating a solid base to build on. But compared to OMI, this is painful. Especially having added here and passed on OMI a while back. It tests your faith, irrespective of potential.

[risa5] 15/10/2020 10:22

Ariana Resources announces JORC mineral reserve estimate for Magellan Project

Ariana Resources plc, an AIM-listed exploration and development company operating in Europe, has announced a maiden JORC 2012 mineral resource estimate for the Magellan Project, which is 100% owned and operated by Venus Minerals Ltd. Venus is focused on the exploration and development of copper and gold assets in Cyprus. Ariana is earning in to 50% of Venus (currently approximately 12%).

Highlights
JORC mineral resource estimate (stated gross) of 8.5 million t at 0.63% Cu# (Inferred), with additional potential for gold, silver and zinc-rich zones (up to 0.6 % Zn) across the Klirou and Kokkinoyia Sectors.

JORC exploration target of 2.7 – 8.4 million t within a grade range of 0.5 g/t Au to 0.8 g/t Au, for 42 000 – 216 000 oz of gold and 3.3 g/t Ag to 8.2 g/t Ag, for 297 000 – 2 218 000 oz of silver.

Resources at the Klirou and Kokkinoyia Sectors are open in several directions and particularly down-plunge, beyond 250 – 350 m in depth.

New exploration drilling programme of up to 3000 m to test several target areas within the greenfield exploration portfolio, due to commence imminently.

Dr Kerim Sener, Managing Director of Ariana Resources, commented: “The completion of this maiden JORC 2012-compliant mineral resource estimate for the Magellan Project represents a major advancement for Venus Minerals and is the latest resource to be announced in over a decade in Cyprus. As Venus’ flagship project, we are exceptionally pleased that this initial resource catapults Venus to the forefront of copper-gold exploration on the island.

“A combined resource of 8.5 million t at 0.63% Cu with significant additional potential for precious-metals and zinc is an excellent foundation upon which Venus can continue to build its business. In particular, the substantial opportunities for identifying gold- and silver-rich zones within and around these deposits, as summarised by the JORC exploration target, will be an integral part of Venus’s forward strategy. Accordingly, an initial management target of >10 million t at 0.6% Cu, 0.6% Zn, 0.5 g/t Au and 6 g/t Ag has been set for the project.

“Beyond these resource development areas, Venus has the rights to 105 km2 of highly prospective tenure across the island. A percussion drilling programme focused on several new exploration targets across this portfolio is due to commence imminently. Meanwhile, planning for a diamond drilling programme on the Magellan Project resource area is underway following the completion of this mineral resource estimate.

“Ariana remains excited by the progress of the Venus exploration team who have remained active and deployed in Cyprus despite the recent difficulties associated with travel. We would like to congratulate the team on its first resource estimate, which is already demonstrating scalability, and look forward to seeing the results of their latest exploration efforts. Accordingly, we intend to continue supporting Venus financially and progressing our earn-in to 50% within the next 2 years.”

[risa5] 15/10/2020 10:22

Ariana Resources cheers maiden resource at Magellan project

It defines a maiden resource and a significant exploration target containing copper, gold and silver

Ariana Resources PLC (LON:AAU) has cheered a maiden JORC-compliant resource for the Magellan project in Cyprus.

The company has an earn-in deal for the project, which will see it acquire up to 50% of the asset.

Magellan is now estimated to host some 8.5mln tonnes of mineralisation with a copper grade of 0.63% along with additional potential for gold, silver and zinc.

An exploration target has, meanwhile, been formalised between 2.7mln and 8.5mln tonnes at grades between 0.5 and 0.8 grams per tonne, for some 42,000 to 216,000 ounces, plus between 3.3 and 8.2 g/t silver, for 297,000 to 2.21mln ounces.

A new exploration campaign is planned with up to 3,000 metres of drilling testing several target areas.

"The completion of this maiden JORC 2012-compliant mineral resource estimate for the Magellan project represents a major advancement for Venus Minerals and is the latest resource to be announced in over a decade in Cyprus,” said Dr Kerim Sener, Ariana managing director in a statement.

“As Venus' flagship project, we are exceptionally pleased that this initial resource catapults Venus to the forefront of copper-gold exploration on the island. A combined resource of 8.5Mt @ 0.63% Cu with significant additional potential for precious-metals and zinc is an excellent foundation upon which Venus can continue to build its business.”

Sener added: “Ariana remains excited by the progress of the Venus exploration team who have remained active and deployed in Cyprus despite the recent difficulties associated with travel.

“We would like to congratulate the team on its first resource estimate, which is already demonstrating scalability, and look forward to seeing the results of their latest exploration efforts. Accordingly we intend to continue supporting Venus financially and progressing our earn-in to 50% within the next two years."

PI

[1candc] 15/10/2020 10:20

Unbelievable share price action today, a herd of 'investors' clearing off in true lemming like behaviour, must be something in the air