Ariana Resources Share Discussion Threads

[soulsauce] 24/6/2020 08:17

Well he's making us wait.

tailgunner I would have thought the silver would have been sold once the silver price got back to a respectable level which I assume to be $16+

[tailgunner] 23/6/2020 20:22

Are they still holding on to their silver amassed??

[renniks2016] 23/6/2020 20:18

Kirbs4- hence the reason to keep some powder dry, but something keeps telling me I will probably have to use it else where, because when this goes I'll not see my target price again. IMO

[kirbs4] 23/6/2020 19:54

May well be Biggles. I do feel that whatever they do around it, another delay here will see another buying opportunity for Long termers.

[dixi] 23/6/2020 19:51

End of April:Dr. Kerim Sener, Managing Director, commented:"Due to the limitations resulting from the impact of COVID-19, we have decided jointly to extend the project review period until the 30 June 2020. This will enable the Parties to evaluate the proposed new Joint Venture ("JV") and the draft legal agreements detailing the specific terms of the JV. This provides additional time to enable an even more thorough review by the Parties and coincides with significant new project developments, including the revised Resource Estimate for Kiziltepe, announced last week, and revisions to our resource for Tavsan which remains work in progress. In addition, at Tavsan we are in the process of finalising the development schedule for what is expected to be our second mine in Turkey."The reference to coinciding with significant new projects does make me consider the possibility that there could have been some discussion about variance.Idle speculation, but what else to do?

[renniks2016] 23/6/2020 19:37

BB-That is quite feasible, I also think that we will have other news relevant to the behind scenes work that is being and has been done, might even be tomorrow but if not this week, cushion for Monday’s news, keeping some powder dry just in case! If not happy to hold and accumulate under 4.28

[bigglesbingham] 23/6/2020 19:20

Unless they are hoping the accounts done before end June to smooth the extension announcement? Conjecture but it's what I'd do if I was them and deal wasn't ready.

[renniks2016] 23/6/2020 19:20

I wish!! ;)

[1candc] 23/6/2020 18:39

Rennlks2016 - bigglesbingham will be looking in his rear view mirror soon if you carry on acquiring! :-)

[renniks2016] 23/6/2020 16:30

Another 300k in the bag. ;)

[jaf1948] 23/6/2020 16:02

Yes, Kirbs4, in total agreement with you - I was just expanding the points you had made.

[kirbs4] 23/6/2020 15:57

Thats my point JAF... I dont think anyone on here is wet behind the ears and appreciate the complexity, the issue would be the way it is handled again if leaving it until the last day to announce an extension. They know now whether they will be able to announce it so only reason for holding on should be if they know they will be announcing it and want to time it right maybe around results.

[konil] 23/6/2020 15:41

thanks for clarification guys! so $25m (not $15m) to aau, well, that's closer to 1.9p/shr (£/$ 1.25) on cash alone, let alone all the other bits. very nice. hope it does go through, i know there are counter arguments also, but speed of execution could be a good thing to have in the next 2 or 3 years if pm's are starting a massive bull run.

[dixi] 23/6/2020 14:47

C'mon Kerim, hurry up and make your shareholders happy!!

[rumpus1] 23/6/2020 13:44

Tested 1760 3x in last 24hrs now. Be interesting to see if we can break it now. Think if the US let's it through it'll fly up to 1790.

[soulsauce] 23/6/2020 13:31

I am not going to make that call CSSF lol. I am sure the Yanks will be ready with a smack down, although they do look to be running out of steam 🤞

[crossfirecssf] 23/6/2020 13:25

Gold may well be $1800 by the weekend. You surely concur Soulsauce? ;o)

[jaf1948] 23/6/2020 12:44

Ariana to date have always appeared professional and in control of the situation. If the deal needs more time, it would look IMO very amateurish to wait yet again until the very end of the month to announce an extension. They must know by now, on June 23rd, whether or not a decision can be announced by June 30th.

[thanksamillion] 23/6/2020 12:35

If the Lira has depreciated by 20% against the Dollar how will that affect the thinking of our potential new partner? They will be paying 25% more Lira to buy in unless they hedged when the DD was announced.

[soulsauce] 23/6/2020 12:29

Quite right Shortarm. $50m split between us and Proccea plus the other bits re Salinbas.

[renniks2016] 23/6/2020 12:15

Just to help refresh the minds! Proposed Partner will acquire 53% of Zenit, which will, at the appropriate time, absorb Greater Pontides, such that on the successful completion of the earn-in on Salinbas by the Proposed Partner, Ariana will:1. hold 23.5% of Zenit which will hold the Kiziltepe Mine, associated exploration and development properties and the Salinbas Project; 2. be free-carried on further costs associated with the development of the Salinbas Project; 3. be party to a shareholder and joint operating agreement, retaining representation on the Zenit board;4. be responsible for all exploration across the new joint venture, with a reward mechanism of three times the exploration cost for all new projects injected in to the JV in the future; and5. will have received payments totalling US$30 million to reflect the reduction in ownership percentages.The Proposed Partner will ultimately hold 53% of Zenit, with Ariana and Proccea holding 23.5% each.It is the current intention of the Board to consider distributing part of this sum as a special dividend to shareholders, once the mechanics for doing so are established.

[renniks2016] 23/6/2020 12:07

A buy On exchange, if it were a sell it would be 3.85, just put an order in myself for 500k on exchange @ 4 - no takers as yet.

[lottsgold] 23/6/2020 12:06

I think Soul is right read the MOU RNS. 50million spilt and 5million to us for Salibas as it 100% owned.

[shortarm] 23/6/2020 12:05

Nope, it's 25 mil to AAU and five mil for Salinbas. Then a further 8 mil on Salinbas to be matched by Proccea in expertise....You should buy more right?