Ariana Resources Share Discussion Threads

[bigglesbingham] 12/10/2021 13:50

Does say they are working on it now second to last question

[konil] 12/10/2021 13:49

doinnuthing, post 8187, thanks for sharing. where did you find that?

[konil] 12/10/2021 13:46

doinnuthing, yes that may be so, its a bit unclear to me but on balance i'd say your interpretation is correct. i guess that means venus keep all their copper/gold but probably have to stump up cash for 50% of apliki?

it could also be that the intention is for venus to fast track its copper/gold into production via the up and running (by then) apliki mine?

which ever way its cut it does seem a massive step forward in cyprus for aau especially with regard to timeframe in getting to an operating mine, usually years but here within 18 months of listing, being already fully permitted!

[soulsauce] 12/10/2021 13:30

Yes at odds with the other 2 answers.

[shortarm] 12/10/2021 13:22

Soul, doesn't one of the answers say - and I quote...We are working with our broker on a revised note currently Q19.Feel free to tell me that's not a real answer because they can work on it for as long as they want but FFS cheer up lad! :-)(You know I love you right?)

[bigglesbingham] 12/10/2021 13:06

I'm please with this too . Many companies approaching Ariana with propositions to repeat .

[bigglesbingham] 12/10/2021 13:04

Ignore last comment juggling ten plates

[bigglesbingham] 12/10/2021 13:03

My understanding too.Venus floats then as long as market cap above 6 million happy days . Great business model.

[soulsauce] 12/10/2021 12:56

Looking at the q&A there are several questions on the broker note and the answers are as opaque as ever.
Basically when they feel the time is right 🙄

[doinnuthing] 12/10/2021 12:39

Konil (post 8188) My interpretation is that it is only the Apliki mine that is subject to the JV. Existing Venus Minerals assets are outside it.

[thanksamillion] 12/10/2021 12:17

Dont forget that AAUs 25% will reduce when Venus is listed and new investors stump up cash. I see eventual 12.5%, but of a much bigger company.

[d1g3y] 12/10/2021 12:02

I liked the new format more time for questions. How long before we own a part of Octopus minerals lol

[konil] 12/10/2021 11:58

i missed investormeet but have some questions/points to clarify in my head re. what today's rns actually means

1. aau owns (soon) 50% of venus
2. venus are entering into a 50:50 jv with a local company who own apliki mine
3. so aau will have a 25% interest in the new jv (with venus 25% local co. 50%)
4. venus will be the operator on the jv mine
5. the resource is 9.5Mt @ 0.65% cu (venus) and 10.4Mt @ 0.34% cu (apliki mine)
6. the apliki mine is already fully permitted !!!!!!!
7. venus to be listed on stock exchange
8. additional upside via the venus copper/gold vms system
9. project to be fast tracked within 18 months of listing

if i have understood rns correctly this is massive!

[doinnuthing] 12/10/2021 11:55

FYI recently issued about 30 minutes ago
The two companies have reached a preliminary agreement to set up a Joint Venture

Venus Minerals and Hellenic Copper Mines (HCM) are establishing a new joint venture charged with the development of a new copper mine at Apliki.

Specifically, the two companies have completed a binding Heads of Terms agreement for a 50-50 Joint Venture to develop the fully permitted Apliki Copper Mine, which contains a significant copper resource. The project will be operated by Venus Minerals, and a definitive agreement concerning Apliki is expected to be concluded by mid-November.

The Joint Venture will draw upon local mining, civil engineering and heap-leach expertise gained over many years of successful operation of the nearby Skouriotissa Mine by Hellenic Copper Mines. All government permits and licenses have already been granted and construction is expected to begin in February 2022.

The Managing Director of Venus Minerals, Mr Peter van der Borgh, stated that: “We are very excited about our collaboration with HCM and especially for being involved in the development of the first new copper mine in Cyprus since the early 1990s. Venus Minerals is fully committed to this venture and we believe that by combining our expertise and capabilities with HCM, we can ensure that the project advances at a relatively fast pace.”

Mr. van der Borgh added that Venus Minerals will be pursuing a stock exchange listing in London by the end of the year, further adding to the momentum of the project.

On his part, the CEO of HCM, Mr Georgios Kalogeropoulos, said: “We are very pleased to sign this agreement with Venus Minerals and we are confident that our complementary strengths will accelerate the successful development of the mine. Venus Minerals’ background and expertise will be an invaluable aspect in this effort, and we look forward to working with them to ensure the long-term success of the project. Key HCM personnel as well as leading engineers will be made available for the Apliki project.”

Both sides expressed their commitment to boosting the country’s mining industry and its prospects pointing out that its development can bring numerous benefits to the local economy.

Venus Minerals is focused on the exploration and development of copper-gold assets and has been active in Cyprus for over 15 years, with projects across the country. Hellenic Copper Mines was established in 1994 to revive the copper mines of Skouriotissa area in the North-West of Cyprus. Both have been applying modern technologies and state-of-the art mining methods, engineered to minimise environmental impact and maximise resource efficiency.

[charles clore] 12/10/2021 11:53

Didn't quite hit the sweet spot for new investors though, did it? I suspect that will only come if and when the word is spread, not by a company presentation to EXISTING investors, but by exciting broker notes and publicity for NEW investors. It will come but I wonder when it will be. Are they waiting for the Salinbas wildcard?

Meanwhile, definitely worth adding imho.

[doinnuthing] 12/10/2021 11:52

The way I read it Apliki is not a Venus Minerals asset : the mine but belongs to Cyprus Mining corp.(according to MINDAT.org web site)
So the questions to be answered include
How much is Venus to pay to get the 50% - hence it needs the IPO to get the funds so the IPO will give details of this when its documents get published
How much will Venus need to contribute with existing owner to get mine running again part of the IPO details unless they are going to go for 2 lots of funding the IPO and share sales once listed.
I did not get to the meeting until 11 so maybe this was covered
To me the Venus minerals IPO will answer many questions and much of the work for this has already been done I suspect.

[bo doodak] 12/10/2021 11:45

I missed the investormeet - is the idea to keep our reduced holding in venus after IPO, and gain an ongoing revenue stream, and a valuable asset, or simply just sell out for cash?

[shortarm] 12/10/2021 11:45

Kerim did actually say the Dividends were the goal.....

[actonovator] 12/10/2021 11:42

The speed with which they spent the Eur 3m to get the anticipated 50% earn-in was to me impressive and showed real intent. Will they the get to the mining stage within 18m of listing? We'll see. A "fully-permitted" Apliki Copper Mine sounds like its key to moving things along quickly and the full-permitted bit (whatever that's inclusive of?) may have been key in attracting the mining co. partner.

[bigglesbingham] 12/10/2021 11:39

If you compare the company to a couple years ago it's in a totally different place massively stronger and derisked. The bit at the end should have emphasised that creating the positive mining environment for stakeholders produces profits which they intend to return as dividends to shareholders that didn't come across.

[kaos3] 12/10/2021 11:37

very good communication

[bigglesbingham] 12/10/2021 11:32

The strategy was explained very well. Be interested to read the answers to the questions.

[shortarm] 12/10/2021 11:31

We set out to define a resource and get it mined. We've done it and we'll do it again and we'll do it again....That'll do for me!A unique opportunity!

[constable ken] 12/10/2021 11:27

Writes an essay when a sentence would do.

[constable ken] 12/10/2021 11:06

those lumps of stuff behind Mikey's head, is he taking the mick out of KS and his magic aircon unit?