Ariana Resources Share Discussion Threads

[plasybryn] 25/4/2024 12:13

Yes a good one to add to the list.

[soulsauce] 25/4/2024 12:10

Plasybryn: 9. No release of due diligence drilling information to shareholders. Is it available, if so why has it not been Rns'd, if it is not then why had the decision been made without the drill results being received??

Nov31 even if it is not sure the evidence smacks of it.

[xow98] 25/4/2024 12:04

Can buy 150k @ 2.674. NT on 100k & 150k sell

[kaos3] 25/4/2024 11:52

grabbing the land is ok

not knowing then what and above all how and when to do with it is as amateur as it gets

because they obviously do not know. as otherwise they would tell us, would they not...

[plasybryn] 25/4/2024 11:48

This is share price Angel this morning.

Ariana Resources (AAU LN) 2.7p, Mkt Cap £32.4m – Rockover merger brings in 1.3moz Dokwe gold deposit in Zimbabwe
Ariana Resources confirms that it has reached a conditional agreement for a merger with Rockover Holdings which owns the 1.3moz Dokwe gold project in Zimbabwe.
The planned merger, through Ariana Resources’ wholly owned subsidiary, Asgard Metals, which currently owns 2.1% of Rockover, will be via shares “based on a merger ratio in the enlarged entity of 62.5% Ariana existing shareholders and 37.5% Rockover existing shareholders”.
“Based on the merger ratio, Ariana would issue 687,817,998 new ordinary shares … to acquire the shares in Rockover not already owned”.
Ariana Resources says that it expects the merger to “be implemented by 28 June 2024 … [and that it] … intends to seek a dual-listing on the Australian Securities Exchange ("ASX") to promote the opportunity to a broader range of potential investors”.
The Dokwe North deposit “contains 1.21Moz in JORC 2012 … Measured, Indicated and Inferred Resources, including 0.8Moz in Proven and Probable Reserves; Dokwe Central contains 80,000oz in JORC 2004 Indicated and Inferred Resources … [and the company reports that a 2022 pre-feasibility study, currently being revised, shows] … a mine life of 13 years at a post-tax NPV10 of US$72 million and an IRR of 25% at a gold price of US$1,650/oz”.
Conclusion: Ariana Resources’ all-share merger with Rockover Holdings is expected to be concluded by the end of June bringing in the 1.3moz Dokwe gold project in Zimbabwe.

[nov31] 25/4/2024 11:46

soulsource, I agree!
Biggles, we all want a bigger co and capitalisation - but I’m not sure that this is going to see capital growth on our own shareholdings in terms of share price I don’t think Kerim’s record is as good on the ‘big deals’ as it is on the small deals.

[dixi] 25/4/2024 11:40

I'd just prefer to hear about progress at our core projects, I'm still feeling in the dark about those to some degree. Clearly investors are currently neither that convinced or enamoured with the Zimbabwe project. So here we have fairly clear consistency from AAU in the way it operates. Expect more of the same. Especially the Venus farce.

[coachsailor] 25/4/2024 11:33

Not "3 yrs to Production" It says advancing towards 3 yrs to production, so advancing towards when they can say 3 yrs to production - A very different thing.

Sadly when I had believed AAU was on recovery; now two red flags for me. As said before, over the past 55 years I (and friends in Rhodesia which was the garden of Africa as well as rich in minerals) have learnt my lessons before when enticed initially by Rhodesia and later Zimbabwe`s recovery only to lose. Similarly over 50 yeas any investments I made in junior ASX miners have all gone bust.

[soulsauce] 25/4/2024 11:30

The annoying thing is, and where I agree with zangdook, if the company had adequately communicated and marketed the company, especially around the forthcoming mine, then the share price may have been well above 3p.
It kind of smacks of holding the share price down for this transaction imo.

[plasybryn] 25/4/2024 11:23

Maybe they wont get shareholder approval. That would shake them up and make them realise who is boss. On today's lack lustre RNS i can't see how we can support this. Just my view of course. I suspect the share price would go up if it was ditched.

[excellance] 25/4/2024 11:10

Told you they would dilute.

[excellance] 25/4/2024 11:08

It also explains why our share price has been pulled down.

I said there would be dilution.

[excellance] 25/4/2024 11:06

Now we know why the Venus saga has been long drawn out.

[soulsauce] 25/4/2024 11:05

xow 23678 that worries me too, especially as we know it will be 3yrs x by the Ariana coefficient of timelines.

[nov31] 25/4/2024 11:03

I don't like the dilution (especially at today's SP, albeit it could have been worse last month at 1.7p) and would have far preferred to see the acquisition done half in cash (from either reserves or borrowings especially since Tavsan will be throwing off cash shortly) and only half through newly issued equity. That would have ensured newly motivated board members and equity holders without the potential danger of a reverse takeover - it wouldn't cost the Rockover management a huge amount to buy 12.5% - 13% of AAU's equity and take effective control

[xow98] 25/4/2024 10:56

At least 3 years to production, lock-in period of 12 months with a further 12 month orderly market limit. I don't like the differential between production and them being able to offload their shares given they live in Zimbabwe and are about to be handed £19m. They just monetized their investment in a private company and we have a long way to go to see production.

[soulsauce] 25/4/2024 10:49

Who's fault is it we are off the radar bigglesbingham?

[plasybryn] 25/4/2024 10:42

When will the Board wake up and accept they need experts to advise on these sorts of deals to ensure shareholders get fair value and the deal is financially sound. The communication in all its aspects also needs to be appropriately worded and presented to address the City, Institutional Investors and pte shareholders. So far a lack lustre RNS just doesn't cut mustard. Respect and trust in the City is crucial. Have they added to that today.

[bigglesbingham] 25/4/2024 10:41

Market makers taking per again

[bigglesbingham] 25/4/2024 10:38

We are off the radar hopefully when this gets a wider audience it will be

[plasybryn] 25/4/2024 10:35

A major Corporate initiative would normal correspond with a lot of excitement and an inpouring of new investors. But again this communication is woefully thin on facts