I asked a question about this terrible disaster in a recent Q&A, but more aligned to Hizzy, which is closer to those operations. But your point is well made- an interesting observation |
 The incident which created the major set back at Tavsan was the tragic failure in Feb 2024 of the Heap Leach liners at the SSR operated Coplar mine in Turkey. The final report on the causes of the incident came out a couple of weeks back, but I had not seen it until today or reported on here.
This report indicates that Ariana did take all the right precautions on redesigning the Heap Leach liner system for Tavsan and possibly indicates why it took longer than expected.
SSR Mining Announces Expert Findings on Cause of the Çöpler Incident
Wednesday 15 January 2025 22:00:00 - Business Wire
SSR Mining Inc. (Nasdaq/TSX: SSRM; ASX: SSR) (“SSR Mining” or the “Company”;) provides an update on the February 13, 2024 incident at Çöpler (the “Çöpler Incident”).
Following the Çöpler Incident, the Company commissioned Call & Nicholas, Inc. (“CNI”), an international mining consulting firm that specializes in geological engineering, geotechnical engineering, and hydrology, to conduct an independent review of the heap leach failure at Çöpler. After analysis of the engineering design, construction, and operation of the heap leach facility, and comprehensive reverse-engineering of the failure, CNI determined that the most likely cause of the Çöpler Incident was a deeply-rooted flaw in the third-party engineered design of the heap leach pad.
The review found that in the third-party engineered design, the assessment of the test data overestimated the shear strength properties of the liner system at the base of the heap leach, which inflated the calculated factor of safety values in the third-party engineered design. This error resulted in insufficient shear strength along the liner interface to support the as-designed heap leach facility.
Importantly, CNI also determined that in all material respects, the heap leach pad construction and operation was carried out in conformance with the issued-for-construction engineered design parameters. In addition, CNI’s review did not find any substantiation that excess water, ground vibrations from blasting, nor stacking beyond the design caused the event.
Rod Antal, Executive Chairman, said: “The independent expert review of the Çöpler Incident has been an important body of work for the Company to determine the cause of the Çöpler Incident. Knowing now that the failure was the result of an engineering design flaw, and not the result of a failure in our operation or construction of the pad, provides clarity and some reassurance to the team on the ground as we seek to restart the Çöpler mine. We remain deeply saddened by the profound impact of this tragedy and we remain committed to Çöpler, the local communities and Türkiye.”
SSR Mining continues to work closely with the relevant authorities to advance the required permits for the restart of the Çöpler mine. At this time, we are not able to estimate or predict when and under what conditions we will resume operations at Çöpler.
For additional information on the Çöpler Incident, including a discussion of the associated risks, see the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 filed on February 27, 2024, as well as the Company’s Quarterly Reports on Form 10-Q for the quarter ended March 31, 2024 filed on May 8, 2024, for the quarter ended June 30, 2024 filed on July 31, 2024, and for the quarter ended September 30, 2024 filed on November 6, 2024. Further updates on the Çöpler Incident, as and when available, will continue to be provided through press releases and posts to the Company’s website. |
One could argue that if the market was always correct there would never be amazing opportunities like here :-D |
Shortarm,
'Two million ounces and growing at Dokwe'
These 2,000,000 oz are currently valued as nil by the market. In fact, since Dowke was announced, Arian's share price has fallen by almost 50% so one could say they have negative value.
I do understand your point but the market does not value hypothetical income. |
And 61% of Venus
16.6Mt @ 0.45% to 0.80% copper (excluding additional gold, silver and zinc).
Also, all of the fiddly tiddlers - the last time a fiddly tiddler was sold it was a hundred bagger IIRC? |
Jaf, the value of Ariana without Kerim is currently:
Two million ounces and growing at Dokwe
23,5 percent of current and future production from Kiziltepe
23,5 percent of current and furure production at Tavsan
23,5 percent of Salinbas which has four years of drilling to JORC (3M oz anyone?)
76% of WTR which has an option on 85% of the Slivova project and a Newmont alliance |
That would be a great day Zangdoom but no doubt you would keep posting! :-/ |
Ariana's greatest asset is not the distant Dokwe or the even more distant Salinbas - it is Kerim Sener, without whom there would be no viable Ariana.
For anyone to want to buy out Ariana without buying Kerim as well would not make much sense. But would Kerim agree if he were no longer in charge. What is the value of Ariana without him ? |
I'd be delighted to get out at cost |
Lets hope not Zedder! at least not at this price, and even if someone were to offer £100M it would still be far to cheap, and no matter how complicated they make the structure of the business, when it comes down to it, it would be very cheap Oz's with huge potential through WTR, Asgard and Venus. with gold at ATH's and we at recent low, yes I'm getting nervous of this happening, which is no good for me, unless it is at a massive premium. |
It does mean the big boys will have lots of extra cash to snap up a tasty minnow! |
whenever one posts the ever higher gold rising fabolous price
it hurts me more and more
as an AAU shareholder
makes me increasingly question sanity of my only remaining brain cell |
Gold 2,872 (£2,292) |
Really really really good post on LSE although already out of date as gold is now 2873!
.
Who are you gonna ask? It is not an announced policy!
AISC 1143 against todays price of 2860 is 1717 dollars per ounce profit!
100 000 ounces a year would be over 171 million, lets say Zim do eventually nick 26% - that would leave AAU (Dokwe only) with just under 130 million per year. Does not sound like a disaster to me? |
The world’s demand for gold hit another record high in 2024 amid robust central bank purchases and investment demand growth, the World Gold Council said in its annual report.
Total gold transactions came in at 4,974 tons last year, compared with 4,899 tons in 2023, including of over-the-counter (OTC) investments. |
Gold 2859!! |
Plas, I think some of the 'red' trades today are actually buys? |
jv divi to aau will start moving the share price i can not see anything else atm... as the the only of the coming news that will do it
imho |
Michael, Kerim, Chris Andrew and Nick all there in Cape Town. John Meyer of share price Angel is there and looking to do research on Zimbabwean opportunities. Some exposure on x and Linkedin. Siobhan Managing Editor EMEA and Americas seen talking to them. I can see plenty of interest in these undervalued shares. Look at the buys. |
Good piece from Jim https://mining.beehiiv.com/p/jim-s-mining-letter-february-4-2025Worth reading |
Comparatives
MinerDeck
@MinerDeck
🇦🇺 Weekly gold drilling highlights |
On Linkedin (again I think):
Ariana Resources plc Exploration Runner-Up; Mining Elites in Africa awards! Mining Review Africa. Dokwe considered one of the most compelling exploration stories, our innovation has been recognised by our use of the award-winning detectORE technology. |
Register to chat with like-minded investors on our interactive forums.
Hot Features
Premium
