Ariana Resources Share Discussion Threads

[soulsauce] 27/11/2020 17:51

Agree red imp.

[red imp] 27/11/2020 17:19

Although I understand that there is not going to be an RNS on Monday announcing that the JV has now been signed off, I would hope for an update on each of the five outstanding activities in the 30th October RNS, i.e.:

-- Circular for distribution to Ariana shareholders under preparation and awaiting the finalisation of the definitive joint venture agreements.
-- Approvals are being sought from the General Directorate of Mining and Petroleum Affairs regarding the expected change of ownership of the Salinbas licences following completion of the Transaction.
-- Formal application has been prepared for submission to the Competition Authority in Turkey, seeking approval for the Transaction.
-- Relevant Powers of Attorney are under preparation for the completion of the agreements in Turkey by the representatives of the Company.
-- Environmental Impact Assessment scoping study on Salinbas recently completed by SRK Consulting.

Another month has now passed. For Gods sake something must have happened in that time.

[1candc] 27/11/2020 16:04

4.7 on Richter 250 kms away from Kiziltepe, par for the course in Turkey

An earthquake with a 4.7 magnitude shook Malatya province in eastern Turkey on Friday, sending people pouring out into the streets in fear. There was, however, no immediate report of any damage or casualties.

The quake, which was centred in the town of Puturge, struck at 11:27 a.m. (0827 GMT), Turkey’s Disaster and Emergency Management Directorate said. It was felt in several neighbouring provinces.

Malatya’s Gov. Aydin Barus told the state-run Anadolu Agency that his office had not received any “negative reports” concerning possible damage or injuries.

Several people rushed out of their homes or workplaces in fear that buildings might topple, the agency reported.

Turkey sits on top of major fault lines and earthquakes are frequent.

[charles clore] 27/11/2020 15:28

6.4 earthquake in eastern Turkey close to Syrian border just reported

[soulsauce] 27/11/2020 15:24

Smack down Friday. Is that the 3rd Friday on the bounce?

[bigglesbingham] 27/11/2020 15:18

Didn't say they were in right mind ha ha . If they are contrarian investor they might.

[1candc] 27/11/2020 15:15

You might have just hit the nail on the head shortarm

[shortarm] 27/11/2020 14:46

Don't think anyone in their right mind would short a share waiting on the sort of news we are here!?

[bigglesbingham] 27/11/2020 14:37

And I said subtle shorter ha ha my mistake

[cyberbub] 27/11/2020 14:04

Gold being smacked down by the Crimex again :-(

[1candc] 27/11/2020 13:56

corrientes - you are so transparent it's amusing.

[corrientes] 27/11/2020 13:38

Ever reason/excuse under the sun to explain the delay, all possible. What is certain to me anyway, is that whilst the share price may be reasonably stable, trust is spiralling downwards, and these wonderful cash flow projections could all be busted by agencies outside of the company's control.

[bigglesbingham] 27/11/2020 13:16

Think that was relating to speed of court system pal

[soulsauce] 27/11/2020 12:30

As the the last time they mentioned it in one of the updates it sounded as though we would have a deal of waiting to do after the JV was signed off.

[bigglesbingham] 27/11/2020 12:12

My understanding is they have been working on this, why do you think they haven't?

[doinnuthing] 27/11/2020 12:11

I would think Arianas accounts will look a bit different when the deal is done and the 76.5% of Salinbas is sold and 26.5 % of red rabbit Until the accounting is done and realisation of gains / losses they do not have the balance sheet to adjust accordingly to enable a dividend to be paid. We took a gain of £12.435m into the accounts when we took over Eldorados share of Salinbas.
from the accounts of 2016 : 4b. Other gains

Gain on interest previously held in associate 4,008 -
Gain from bargain purchase 8,427 -
12,435 -
The gain on acquisition relates to the estimated gain arising on the
acquisition of the remaining shares in Greater Pontides Exploration B.V.,
further details of which are set out in note 20.

These are currently held as Intangible assets currently and will be converted to tangible (i.e cash) and the 23,5% we still own will be accounted for as an investment in associate company I guess.(Bit rusty on the old accounting front).

I am sure they know what the accounts will look like but until sealed cannot progress the next stage - however the number crunchers / lawyers will work it.

[soulsauce] 27/11/2020 11:53

Well if there is no deal they should still be looking to distribute cash from the growing cash pile so shouldn't be a waste of time or money.

[thanksamillion] 27/11/2020 11:45

Would be sensible if the deal was a cert, however board would look foolish if they spent existing cash getting permissions only to find that through unexpected event there is no cash to distribute.

[soulsauce] 27/11/2020 11:19

One thing I do find annoying is that when the JV is complete AAU say they are going to have to get all the necessary permissions in place to be able to issue a divvy. Shouldn't all that be being done now so that on completion we don't have another 3 months to wait for our pay day?

[thanksamillion] 27/11/2020 11:14

I have always thought that AAU share price lacks a "takeover premium" due to its various joint ventures. One day when the new partner decides it wants 100% of Salinbas the premium will suddenly appear, I can wait till then.

[jaf1948] 27/11/2020 10:54

cyberhub,

I'm here to make money. As we have discovered over the past few months, the market does not seem to care about any good news that Ariana has announced, in fact the share price has fallen. So yes, the company is getting that extra money but since no dividend is paid, we shareholders do not benefit - yet.

Meanwhile, the share price won't move in a positive direction whilst there is uncertainty about the JV so no share price increase, no ordinary dividend and no one-off dividend. Hence, some people, I for one, are moaning.

[cyberbub] 27/11/2020 10:30

I don't know why people are complaining so much. Every day's delay means an extra $30k+ into our coffers - and we still get the $35m when the deal is completed...

[sonoftherock] 27/11/2020 10:13

Meanwhile, back to the guessing game...

[kirbs4] 27/11/2020 09:56

To be clear for the avoidance of argument, when I say I wish I'd moved more out in the 6's that isn't a reflection of my thoughts around prospects here, I mean several other avenues would've been 40/50% up while this had dipped on more silence. Name of the game like I said.