Ariana Resources Share Discussion Threads

[red imp] 30/10/2020 11:57

This brings back the nightmares of awaiting government approval for Kiziltepe all those years ago. The money was slowing draining away as we waited, which I suppose is not going to happen this time.

[jaf1948] 30/10/2020 11:55

Kirbs4,

Totally concur.

[konil] 30/10/2020 11:52

2 points to make


1. maybe some on here did not like the implication that the dir dealings suggested no jv news was due for some time but it seems clear now that the bod knew they were not in a close period because jv news would not be forthcoming for some time yet, hence they took the opportunity to do their sharedealing. nothing wrong with that, just poorly handled.

2. the 2019 world corruption index shows the country of ops as having a poor score of 39, on a scale of 0 to 100 where 0 is worst and 100 is best. that puts them in joint 91st place out of 180 countries.
i suspect the thickness of the brown envelopes were misjudged even with ozaltin's in-country experience behind the jv.

[kirbs4] 30/10/2020 11:50

I disagree that the Rns should've been released at 7am, I think it should've been released days ago. The remaining actions are not insignificant and they knew days ago would not be resolved by Friday. Some of it has only been prepared so not even submitted yet.Again, this isn't criticism of the "what", it is difficult to get something like this through at the best of times let alone in a pandemic, this is purely levelled at the "How" and I feel a little bit mugged off that they've known for some time that they wouldn't be meeting the deadline they set themselves and left it to midday on the final day to tell us.I'm sure others will disagree and you are most welcome to your views, I just thought these days were behind us here.

[gamesplayer] 30/10/2020 11:49

This phrase at the start "The Parties are undertaking an all-parties meeting today to finalise the terms of the definitive joint venture agreements governing the Transaction." - Sounds like KS wanted to issue an after hours, more positively worded RNS but has been forced into issuing a holding RNS.

[lottsgold] 30/10/2020 11:48

At this time, we are expecting that these processes, which are conditions precedent to the Transaction, will conclude following the signing of the joint venture agreements.So they will get the JV signed before approval to make it clear the deal is going ahead. I think that's the best they can offer?

[dixi] 30/10/2020 11:47

CrossfireCSSF - I'm not so bothered so long as I know what's going on, after all AAU are prospering in the meantime. It's important to keep the market informed though.

[cyberbub] 30/10/2020 11:46

Crossfire the word used was "appropriate" not "convenient". But yes it does leave it open ended.

[lottsgold] 30/10/2020 11:46

Just government hold ups as many thought, nice top up this morning. I feel like the authorities could grant approval in days weeks or months. Hopefully the former but I'll hold whatever 20% divi possible on some of those purchases today!

[crossfirecssf] 30/10/2020 11:44

As suspected. Delay and rushed RNS due to share shareholders reaction. Complacency and a misreading of shareholders sentiments the only explanation. The circular being now distributed “when convenient to do so”, is an almost throw-away, cover all comment. Doesn’t really cut it.

When will it be convenient? This year? 2022? Honesty always the best policy. We’re adults, we can take it. Just spell out the problem and we’ll understand. Explains Kerims weary demeanour in the last interview. This could go on for months.

I guess it’s a top up opp for those with money burning a hole in there pockets.

[dixi] 30/10/2020 11:40

Very pleased to see that KS has finally put investors minds more at ease. I am sure this could’ve been done a few days ago, had they given it some consideration. But job done for the time being :-)

[someuwin] 30/10/2020 11:36

News seems reasonable - deal just taking longer. No problem.

[ironstorm] 30/10/2020 11:36

Certainly looks even more certain this deal will close

And very welcome it will be once it does cross that line. Keep pushing guys.

[soulsauce] 30/10/2020 11:22

Excellent work 1candc.

[1candc] 30/10/2020 11:20

For what it's worth I sent the below e-mail to Ariana at 0950 this morning, the RNS was issued at 1049 an hour later.

Dear Sir or Madam,
as a long term shareholder in the company I am extremely disappointed in your lack of promised communication with shareholders as detailed: -

The company released this unambiguous RNS on 29th September: -

Ariana Resources PLC UPDATE ON PROPOSED JOINT VENTURE
29/09/2020 7:00am
UK Regulatory (RNS & others)

Amongst other points it stated: -

-- Ariana intends to distribute a circular to Shareholders to convene a General Meeting seeking approval for the Transaction during October.

On this, the last trading day of October, there has up until now, been no RNS from the company updating shareholders on this important and eagerly awaited development. Unless a RNS arrives later in the day the company has failed to honour the spirit of that RNS and has proffered no explanation as to why.
We've had plenty of news and views on Director dealings but seemingly nothing on arguably the most important development in the history of the company.

I urge you to make an announcement to the market explaining why you have failed to deliver on your promise to distribute a circular regarding the JV during October.

[soulsauce] 30/10/2020 11:19

Well $700ish Shortarm, only 50% is ours remember.

[shortarm] 30/10/2020 11:16

Every day the JV takes puts 14 hundred dollars an ounce into the current bank account!!Chill - it takes as long as it takes - patience is very much a virtue these days!

[1candc] 30/10/2020 11:13

One unintended favourable consequence, if you had some spare money!, is the chance to buy at rock bottom prices

[soulsauce] 30/10/2020 11:07

Ditto 1candc, that RNS should have been done for 7am.

I believe we are unlikely to see the JV finally concluded before the new year. Just hope Erdogan doesn't upset the apple cart in the meantime.

[actonovator] 30/10/2020 11:04

well deal alive but looks like its going to chunter on a bit longer

[1candc] 30/10/2020 11:02

All proceeding well then, the timing of the RNS makes me think it was on the hurry up once they'd seen the carnage and annoyance this morning, just why that RNS did not come out at 0700 is beyond me. But we have one now and I see that any news of the circular etc will be 'when considered appropriate to do so' in other words they are not repeating the mistake of announcing a deadline and boxing themselves in.

[bigglesbingham] 30/10/2020 11:01

Is that 12m traded already?

[jaf1948] 30/10/2020 11:01

Biggles,

Was that a reply to me ? Of course the sells had nothing to do with the RNS - Kerim has only small windows of opportunity to transact AAU shares. However the TIMING of the sales in the week when an RNS was expected did make them related in the minds of the market.

[shortarm] 30/10/2020 11:00

The man does what he says he will! And he does it in unprecedented times! How many company directors have experience of creating a new JV during a global pandemic?Thanks for the opportunity to top up whoever let go :-)