Ariana Resources Share Discussion Threads

[charles clore] 01/10/2019 11:30

JD - investigating thoroughly rather than diving in headfirst is Kerim's trademark. It would not surprise me to see this in play at Tavsan.

[plasybryn] 01/10/2019 11:26

Ask today for reinstatement of the Gantt chart.

[jaynesdad] 01/10/2019 11:17

There you go again Charles, delay at Tavsan because they have found too much gold. They have found additional deposits, that was reported recently but that was expected. Don't think exploration success should hold up the construction of the plant else we may never get the plant started!

[charles clore] 01/10/2019 10:54

soul - you say 'we are years away from getting production up to 50k oz.' That is true but supposing they add a second ball mill to kiziltepe. Wouldn't that (almost) do it?

[thanksamillion] 01/10/2019 10:50

I am no accountant, so corrections welcome.

Interim Accounts appear to show small £90k increase in cash, however Trade and other receivables up by £2m ish.

Is JV retaining the cash for some reason?

[charles clore] 01/10/2019 10:49

JD - could they have found more than expected at Tavsan? I think it might possibly be a good question for the phone-in today.

[soulsauce] 01/10/2019 10:48

8rad the interims suggest cash & equivs of £569k as of June.

[plasybryn] 01/10/2019 10:47

As has been discussed on the excellent LSE thread, Ariana cannot pay dividends to shareholders or indeed buy back shares whilst there is insufficient distributable reserves. However in respect of Buy Backs (not dividends) it could be possible to reduce the share capital by passing the appropriate special resolutions supported by a Court Order. There is also a potential bonus apparently to reducing share capital in this way, if the price paid is less than the average price of shares previously issued, which historically is 1.69p, and the "profit" can be transferred from the share premium account to retained earnings, creating distributable reserves. This is all according to ASH on LSE.
Yes we need them to reinstate the Gantt chart. We learnt over a year ago that Tavsan had slipped but I suspect we will hear more this afternoon. My current understanding is the formal E.I.A. will be finished this year and then submitted to the Authorities for approval. Alongside that the Internal Feasibility Study will be completed, possibly by Xmas this year, as it will be needed to secure the finance. Questions have been submitted on this, so let's see what they say. But please let's all ask for reinstatement of the Gantt chart. We understand if timings are missed if they are outside our control (Permits etc.) but it is the most valuable summary for shareholders of what is going on and when we can expect it to happen.

[soulsauce] 01/10/2019 10:44

No you are not JD, it kind of gets you that way especially when the share price is not reflecting true value.

I have always been of the opinion that they are in no rush to get Tasvan up and running for whatever reason.
I have often taken flack on here for mentioning the slippage but I agree with you 2022, 2023 is quite possible now.
I think with the further drilling at RR and increase in resource there plus Kizilkukur and Irvindi, that may take up the slack but we are years away from getting production up to 50k oz.

May be, depending on what we get in Cyprus, coupled with Salinbas it may fall lower on the pecking order.

[8rad] 01/10/2019 10:41

Yes another good question for today is how much cash do we have on cuurent account right now as we never hear of any figures spoken.

[jaynesdad] 01/10/2019 10:31

Hi Soul, Didn't feel I got much from the interview if I'm honest - the geologists always seem to get excited by any sort of results, but with a business head on we often think 'hmmmm'. I didn't read anything into the Cyprus comment, it was at the end of the interview, seemed positive without implying it would happen next week! The thing that concerns me a bit is Tavsan. The EIA is being done, now further sampling to support production of the feasibility study. But as recently as May '18 the (last ever) Gantt suggested completion of the feasibility study by the end of 2018 and production commencing Jan 2021. What is the timetable now? If feasibility isn't complete until the end of 2020 that implies production may not commence until 2023, repayment of the loan taken to support that will be 2024! Tavsan is predicted to more than double JV production, hence income, hence probably share price The extent of the slippage is worrying - is it because the company is starved of working capital at a time when shareholders are asking for dividends? I'm beginning to think I'm the opposite of Charles, a glass half empty misery!

[xow98] 01/10/2019 10:16

further to my post yesterday:

Per JSE chat

What is perhaps of note is that once the construction loan is repaid, Ariana's share of the JV profits increases to 51% from 50% per the JV shareholder agreement.

[mcmather] 01/10/2019 09:45

Interesting that KS describes the recent drilling in NE Turkey as "very successful".

[soulsauce] 01/10/2019 09:25

Doesn't sound like anything concrete as yet in Cyprus.

[the deacon] 01/10/2019 09:19

Kerim on the Interimshttps://www.brrmedia.co.uk/broadcasts/5d922655cbe3ca44a572e459/ariana-resources-interim-results-for-the-half-year-ended-30-june-2019

[charles clore] 01/10/2019 09:00

I would have thought you couldn't get any juicier than Salinbas...

[thanksamillion] 01/10/2019 08:55

I am trying to align the news that the company is looking to Cyprus for further exploration with the AGM statement...

"Looking ahead, we are also at an advanced stage of evaluating other interests in the geographic region of Turkey, whilst maintaining our focus on the highly prospective region of the Tethyan Metallogenic Belt. We recognise the importance of diversifying our portfolio partly in to other commodities, and particularly those associated with the development of new technologies, within countries representing low risk profiles"

I am wondering how the aim of discovering "other commodities" and "new technologies" fit in with the Cyprus companies mentioned which seem at first sight to be primarily Copper/Gold.

Has AAU found a target that is so juicy they have changed their remit and will remain a gold prospector, or are all the suggestions a little off target?

[catsick] 01/10/2019 07:51

Looking at other potential cypriot targets we could be looking at emm who are a private company who own the old emed assets which would seem to be the only other collection of exploration assets, all in all whoever it is I think its a decent place to be looking for copper / gold , same tethyan belt and high grade assets close to the surface all over the place, 3000 years of copper mining and the new technologies that can find new deposits just below surface which are bound to be there ....

[desertjoe] 01/10/2019 02:33

Sorry about that but there's more than one way to skin a cat.

just Google this... propornot.com/2016/10/zero-hedge.html

[desertjoe] 01/10/2019 02:21

hxxp://www.propornot.com/2016/10/zero-hedge.html

[desertjoe] 30/9/2019 23:36

Yes, JaynesDad, we've got a Monday dip. Hardly surprising - given the drop in sterling, the "muckamucks" of the Federal Reserve and the BoE peddling doom & gloom and the likes of SXX(Sirius) threatening savers and bringing joy to derampers. Then there is brexit (or perhaps bremain?). Did I mention tRumpo? Put that all together and perhaps there are good reasons for folk to sit on their hands, reach for a "tonic" and sit tight on their money rather than to speculate in stocks in the current world scenario. Roll on New Year and our share price at 3p or perhaps plus.

IronStorm - I've already been happily accessing my pension for many moons ever since I grabbed an Early Retirement offer back in the last century. I get maybe 340 days of sunshine per year(but sometimes it's as hot as hell). I'm sure I am not the only one who has invested substantially in AAU here but my concern is whether I will survive long enough and remain fit enough to enjoy your hoped-for million quid after 2025. I'm hoping Kerim and his great team will pull another fat rabbit out of his hat for us all....no pun intended...fairly soon.

[jaynesdad] 30/9/2019 20:22

Clearly such a talent you think its worth posting your wisdom twice. You'll have to teach us mere mortals how to do that some time. We are not worthy.