Ariana Resources Share Discussion Threads

[renniks2016] 15/7/2021 11:19

Morning,Thanks for your email and for alerting me to the error in the article published yesterday.I have now issued a correction highlighting the error and the correct £5.1 million annual pretax profit figure.If you have any other questions please let me know.Kind regards,Will

[bigglesbingham] 15/7/2021 11:08

Does give me comfort however that many aren't dumping because of the state of the company which has never been better .

[konil] 15/7/2021 11:08

the share price undervaluation here makes me wonder whether aau management see it as such and if so are they concerned by it? perhaps their approach is to get on with business and let the share price take care of itself in the hope that share price will correct over time. this is not always a bad approach but given the skin they have in the game i would expect them to take more action to rectify the situation i.e. ensure broker and pr companies are properly getting the message out there. for companies with small mkt cap this can be very effective if handled properly. whilst its good to hear from kerim on his video interviews, they are rather short and therefore not detailed or comprehensive (the most recent proactive interview looked as though it was cut short towards the end). it has been too long since an updated detailed operational overview was available.

[bigglesbingham] 15/7/2021 10:53

Matching sell to the buys what a surprise

[soulsauce] 15/7/2021 10:34

Oh look another big sell :-/

[thanksamillion] 15/7/2021 09:56

Send a copy to his boss as well.

[bigglesbingham] 15/7/2021 09:33

Yes they put loss rather than profits - not very helpful

[bigglesbingham] 15/7/2021 09:32

That 100k is a buy

[renniks2016] 15/7/2021 09:28

This was by Will Paige; [e-mail] him an email to clarify.

[renniks2016] 15/7/2021 09:26

Ariana Resources PLC - exploration and development company - Posts GBP5.1 million annual pretax loss, widens from GBP7.0 million the year previously. Ariana attributes the decline to its joint venture company, Zenit Madencilik, which had to cut its profit share paid to the company by GBP1.4 million due to the lower grade ore being processed. Annual gold production for the year stands at 18,645 ounces, at an average life of mine cash cost less than USD500 per ounce, alongside a "successful ongoing exploration programme".Ariana says it is "advancing a strategy to enable the company to pay dividends over the long-term"."With some of the difficulties of 2020 behind us, we are now looking strategically and operationally to the horizon of the next decade," comments Chair Michael de Villiers."Stated simply, our reinvigorated purpose is to discover the mineral resources needed by mankind faster, better and cheaper than our competitors."Ariana's annual general meeting will be held on August 18.Current stock price: 4.88 pence, down 5.2% on WednesdayYear-to-date change: down 5.2%

[d1g3y] 15/7/2021 09:19

Does anyone else see the IN BRIEF news headline that says Ariana made a pre tax LOSS of 5 million (I don't have the subscription to see if they corrected themselves in the article)I know our PR is bad but this really doesn't help

[paul280i] 15/7/2021 08:26

Plas, you wrote that you had seem the AGM agenda, could you give a link or point me in the right direction to view this, Thanks.

[bigglesbingham] 14/7/2021 23:19

I reread today review and I found it to be actually quite good in explaining the rationale for diversifying into different metals against a socially responsible backdrop. One point he made which I drew some powerful conclusion was we don't miss in exploration and there is a huge find over the hill I took that a cryptically to mean they are exceptionally confident about salinbas. Which they are from my many discussions with the company.

[steviec1] 14/7/2021 22:39

Nice post Kirbs

[soulsauce] 14/7/2021 21:40

I certainly think the confirmation of Tasvan late 22 has knocked the share price a bit as most people know it will probably tip in to 23. That project has been far too long in the baking.
Hopefully we can get the plant upgrade on time and get throwing more ore through.
Some of that statement today seemed almost apologetic.
No need to apologise, just get the basics right and good PR is about as basic as it gets as it costs very little.
To have a highly paid broker sit on their hands is totally unacceptable and doing shareholders a disservice.
I would like to reinvest my divvy but refuse to until the company starts getting this right.

[masterg1] 14/7/2021 19:26

Plasybryn - Companies pay interim dividends all the time and usually approved by the Board of Directors. They have some sort of figures in front of them for the basis of the declaration. The special dividend assuming it is treated like an interim dividend would not require approval at any AGM or similar. In the case of a final dividend always require approval at an AGM. Therefore I do not expect any approval to be required by company general meeting for the special dividend. Definitive answer will be found in the Companies Articles of Association for AAU on the types of resolutions required for any particular situations. Most companies Adopt standard articles of Association.

[tnt99] 14/7/2021 19:20

Soon have 3mines producing by 20243x the income 3x the share price3 x the profit and that's without everything else going on in Cyprus Europe and new investment fundAll good plus a lot of the drilling costs of development being paid for by the new partner I think a special dividend of around .75 p going to be paid soonAnd a regular small dividend in the future sounds all good to me

[plasybryn] 14/7/2021 19:00

Thanks masterg1 for that informed response which I can see makes sense. So we are due a Trading Statement probably early August for the first 6 months. Will this be part of the process or do the Accountants need to produce a more definitive financial statement confirming "distributable reserves". If one was being optimistic, wouldn't one expect this work to have already been carried out. Surely you aren't indicating another delay?
I thought we would have got a statement (RNS) confirming the proposed amount per share, the ex dividend date, the record date and the payment date, subject only to shareholder ratification at the AGM. But I think you are saying there will need to be a Special or Extra Ordinary General Meeting to ratify this?

[konil] 14/7/2021 18:57

thanks spangle and masterg, both welcome contributions for different reasons!

[masterg1] 14/7/2021 18:37

AGM resolutions are to vote on the 31 December 2020 accounts. AAU had no distributable reserves at that point in time. Capital reduction has just recently been approved by the Court. Therefore we are in position to pay dividends as the deficit on P&L has been eliminated. The reason we are expecting a special dividend is that we have sold a substantial part of our holding in Turkey. Some sort of management or interim accounts need to be prepared to say 30 June 2021. In order to establish the level of distributable reserves we have and any dividends do not exceed that limit. Since we are only expecting half the amount less expenses and taxes of the sale proceeds. Therefore no chance of exceeding the distributable reserves. It will happen soon as the accountants/auditors give confirmation of the available distributable reserves. I would expect the special dividend to be around 1p per share. That’s my opinion only on the dividend. I am happy to hold and wait as nothing else has changed.

[spangle93] 14/7/2021 17:34

Konil - I kept reading through the armada of elephants, sure that the dividend must be one of them....

[konil] 14/7/2021 17:33

how long to build an actual dividend payout? ;-)

[bigglesbingham] 14/7/2021 17:29

It will take a year to build plant commission that's after sorting finance so I thought late 22 was optimistic.

[plasybryn] 14/7/2021 17:02

I've read the Notice of the 2021 AGM and resolutions, but can't see anything about the Special payout? Shouldn't this be a resolution for shareholders to vote on? Shouldn't the details have been announced pre release of the AGM resolutions? Am I missing something?
And at the start of the report as in previous years it says - The Company plans to achieve its goals by:.....
but as far as I can see no goals have ever been specifically specified. Are we suppose to assume we know what these are? Perhaps these are supposed to be covered by "Principal Activities" .Incidentally these are the same as last year. Any thoughts?