Ariana Resources Share Discussion Threads

[mcmather] 27/1/2020 19:54

Temujiin, that's why I suspect there will be much more to the MOU than simple $ & %; the jv with Proccea is nice, steady, profitable, will be able to pay regular dividends and still drill the various prospects inc' Salinbas. Just can't see the management wanting to give up what they will if the MOU does not involve serious escalation on many fronts.

[bigglesbingham] 27/1/2020 19:33

Yep there is proof of the seller I referred to earlier today. 9m at 2.4 ? Must have been keen to get out.

[bigglesbingham] 27/1/2020 19:31

Plas they are the ones that have given blood sweat and tears and they are the ones who are recommending the deal. Do you think they'd be doing that if they didn't think it was in everyone's best interests moving forward?

[plasybryn] 27/1/2020 18:37

My blood sweat and tears referred to the toil Kerim and his team have expended from the day they started in Turkey some 15 or so years ago. At times they have struggled to keep going on a shoe string. It hasn't been an easy ride. Lots of stress and hurdles to climb. But through tenacity, focus and skill they have made it into production and to a position where a massive conglomerate wants to be part of the action as the next chapter unfolds.

[kirbs4] 27/1/2020 16:53

Plas you were critical of the MOU, you painted a picture of blood sweat and tears only to end up with 23.5%.

[mcmather] 27/1/2020 16:49

Both Proccea and the new partner will be heavily reliant on the knowledge of a bespoke team of geologists that AAU represents. I reckon that provides some protection, separate to any legal stuff.

T'other side of the coin is that capex for Tavsan & Salinbas is $73m based on historic figures; might this figure be set to increase in tandem with the likely increased resources / reserves at each prospect? That's a major commitment for AAU.

If AAU jibbed the MOU, would Salinbas be on the backburner till 2022 or perhaps later?

[plasybryn] 27/1/2020 16:36

I was going to say the same Temujiin. I don't think anyone is being critical. But this is a momentous crossroads for the Co., especially Kerim and for shareholders. It would be easy for a big powerful conglomerate to get the better of us over the deal and we need to show them that we the Co. and the shareholders are not a push over. I think we actually win either way; doing the deal or going it alone. But yes we need to see the details.

[temujiin] 27/1/2020 16:21

I dont think anyone has criticised the deal Kribs, for as you say we dont know enough detail yet. Its worth keeping an open mind on its merits or otherwise, which I think most posters are doing.

My decision will come from working out how much cash AAU will make just from Kizil, Tasvan and satellites v cash and speed of what Salinbas might do for us.

[kirbs4] 27/1/2020 16:04

Thats my point.. Until we know.I agree it is right to question it, but to criticise it before we know the answers is different.

[temujiin] 27/1/2020 15:59

Trust in the BoD only goes so far, and when they are reducing or stake to 23.5% then its right we question if the deal is good, just ok or poor value.

I'm not opppsed to the deal in principle, but I can see AAU reaping good rewards owning 50% of Kizil, and plenty more from Tasvan.

Whilst that is happening there is still money available to progress Salinbas and Cyprus, albeit at a slower pace, but whilst keeping control of our own destiny. If AAU convince me its a good deal I'll happily vote for it.

[kirbs4] 27/1/2020 15:35

Absolutely.Not ramping or trying to be over positive, i just think there are two ways to look at the MOU and we wont know the reality until a deal is announced and it becomes clear what else is on the radar. Until then it is down to level of trust in board, and if you dont trust them you shouldnt be invested imo.

[bigglesbingham] 27/1/2020 15:30

And you don't die of old age walking to the port ??

[bigglesbingham] 27/1/2020 15:29

End up with 23.5% and $30m plus commitment from new partner to put $8m into salinbas development and Proccea to put in similar amount in services (to be firmed up) . Current market cap $37m .

[kirbs4] 27/1/2020 15:26

What if taking only 23.5% meant we could get a helicopter the rest of the way to the port to ensure we get on the much bigger boat waiting for us which we'd miss if we stayed on the current one?

[plasybryn] 27/1/2020 15:05

I had a dream that the deal was being amended to a third each (3 way split). A lot of it is ours after all and we've done all the work over what is it 14 years or more. Expended blood sweat and tears and a fair bit of dilution to keep the ship on the straight & narrow. Here we are with the port in site and we end up with 23.5%. I think we should at least try for a better final deal. Could anyone call us greedy expecting more in the circumstances? Just a thought.

[bigglesbingham] 27/1/2020 14:58

All this buying at 2.64 must be big seller in background

[bigglesbingham] 27/1/2020 13:26

I'd say that's a given I believe the board feel this is absolutely the right course of action and are keen to get the deal done

[bigglesbingham] 27/1/2020 13:02

I get that feeling too, but to what end?? Unless seller in background

[dixi] 27/1/2020 13:02

There is always the counter-point that AAU are not being pushed on this deal - but they are potentially pushing the partner. Maybe AAU want the cash and are actually keen to divest assets into the JV in this manner.

[kaos3] 27/1/2020 12:43

if feels like the share price is being managed. I saw it many times.

I know it is nonsense but the feel remains

[bigglesbingham] 27/1/2020 12:41

I heard it from broker but assume so !

[soulsauce] 27/1/2020 12:03

Thanks bigglesbingham, PG finally stepping up?

[d1g3y] 27/1/2020 11:52

If it drops much more I will need to pick up another few

[bigglesbingham] 27/1/2020 11:38

New PG note out I believe with a 4.37p target on current structure!!

[bigglesbingham] 27/1/2020 10:46

Looking a terrain I too believe that the cap ex and the cost to get to that point would be prohibitive without a partner.