Ariana Resources Share Discussion Threads

[shortarm] 05/2/2021 15:56

Actually more likely that after the nearly penny dividend that they'll go negative and pay us to take them off their hands :-DWeiner jockey :-P

[charles clore] 05/2/2021 15:53

They should have kept Salinbas but that's my only reservation.

[charles clore] 05/2/2021 15:37

Control will be diluted after Ozaltin joins the board

[plasybryn] 05/2/2021 15:20

This is what it said in the 2018 and 2019 Annual Report and Accounts under the Corporate Governance section.
"It is recognised that an additional independent non-executive director will benefit the Company and it will appoint such an independent director at the appropriate time so as to comply with the Code".
As I said earlier, I would prefer it to be a fully fledged, employed Executive Director who has clear responsibilities. I'm of the view that this will become ever more important as our Market Cap. continues to build nearer to £100m. In fact I suspect Institutional Investors will require a more balanced Board which is also weaken by the CFO being a Non Executive position. In fact, it may well be one reason that Panmure Gordon have failed to attract Investors, as the control is seen to be too tightly administered. Again just my thoughts and open to others views, But it does seem unusual to have just two Executive directors.

[jaf1948] 05/2/2021 14:55

Charles,

As Basil Fawlty (almost) put it 'He only had to say "Good night", dear. It's not the Gettysburg address.'

[charles clore] 05/2/2021 14:51

I'd rather let the company get on with the job they are paid for than bothering them every few days with distracting emails. Chill, relax and be patient - it's coming!

[bonehanmer] 05/2/2021 14:50

I suspect that news is imminent and they were probably expecting it to have been concluded this week. Heres hoping for early next week.

[lottsgold] 05/2/2021 14:36

Can understand your frustration certainly doesn't add confidence, if others have been emailing with no reply there is clearly something going on in the background. Could be good could be bad but many who were heavily invested will go on the side of caution. If it was negative surely we would have to have been updated though?

[jaf1948] 05/2/2021 14:29

Perhaps it’s just my age and being old-fashioned but the reason for my negativity this week is not just the lack of news but the fact that the company is not even bothering to answering our emails, even if just to say ‘thank you but we can’t tell you anything at the moment.’

To put it bluntly, sheer bad manners.

[jaf1948] 05/2/2021 14:03

And they haven't answered me either.

[lottsgold] 05/2/2021 14:02

Thanks Timothy, not like them, radio silence...surely it's not market sensitive if it's finalising the legals?

[timothyjones2010] 05/2/2021 13:53

Lotts you won't get a reply, I have been emailing every day for a week. But good luck

[lottsgold] 05/2/2021 13:29

I've just emailed the company to see if they can at least clear up exactly what we are waiting on and voicing concern about the lack of communication. They are usually quite good with replying so hopefully I'll hear something soon.

[yorkie52] 05/2/2021 13:19

Gervaise Heddle would be ideal. Can someone give him a ring as he becoming redundant from Ggp this month.

[plasybryn] 05/2/2021 12:45

I'll be honest that I originally advocated the employment of a PR Co to improve communication shortcomings in the past, but it light of experience I really believe a quality, experienced corporate director is what is needed. The AR &A of two years ago implied there was a regulatory issue supporting strengthening the Board and that an appointment would be considered.

[soulsauce] 05/2/2021 12:41

My view too Plasybryn.

[plasybryn] 05/2/2021 12:32

With Kerim & Michael basically running the show, one of whom is the Chairman, means if one is sick or worse, there isn't adequate cover. Or succession planning. The recent communication management issues would also suggest they are under resourced imo. I would like to see a better division of Labour. In fact I'd rather spend cash of a really experienced Corporate Director than pay University graduates at YellowvJersey. Just my view.

[plasybryn] 05/2/2021 12:25

Sorry post 3401

[plasybryn] 05/2/2021 12:24

Post 3041 by Spangle 93 was good.Ref 3371, since you haven't had many answers.AIUI from the website, the board comprises 2 Executive directors and 2 NEDs. The NEDs do not get involved on a day to day basis with work. Their role is to represent us, to keep the Executive honest, and to screen out stupid decisions that might otherwise be made. According to the 2019 Annual Report Mr Payne and Mr Sangster attended 4 board meetings in that year. Subcommittees aren't mentioned specifically.I think I saw stats once that said the average NED works 27 days a year and guidelines say they should not have more than 4-5 roles in their lives. We go better than this - not only do our NEDs have plenty of other posts to occupy their lives, but one of our Executive directors also has 4-5 roles.... Also, NED's should be independent, so one might ask how the CFO could be on the board but somehow not on the Executive.What I'm trying to say is that it's not worth getting another NED or Executive board member. We're a small company by m/cap so the board should be suitably sized - we can't afford another F/T Executive board member, and any NED member isn't going to have the timeBesides which we already have a guy on the staff called Erhan Sener (not going to speculate about any familial relationship) who is the business consultant.Where I'm struggling with research is "who is on the Executive". It's not mentioned specifically on the web or in the Annual Report. Is it purely MdV and Kerim? There are a number of staff biographies, but they are not necessarily explicitly part of the executive management. My suggestion is that this would be an area to strengthen. Not with tech boffins, but with part-time consultants or if necessary full-time people to support MdV and get the message out.

[soulsauce] 05/2/2021 12:24

Thanksamillion strengthening the board at this stage when we are taking on a huge JV partner and have two other partners is absolutely the right thing to do as the current BoD are far too nice but also far too dilitory for theirs and their shareholders own good.

[lottsgold] 05/2/2021 12:10

As long as I catch the main of the move i'll be happy never going to catch the bottom. Although it would be nice, all the red will soon be blue:)

[thanksamillion] 05/2/2021 11:41

And precisely how would any additions add value to the company, the last thing we want is a drain on our hard earned profits.