Ariana Resources Share Discussion Threads

[shortarm] 18/5/2021 07:52

Only 25% of the vein drilled! No wonder they're doubling the processing capacity :-D

[uknighted] 18/5/2021 07:31

BANU VEIN DRILLING RESULTS



Ariana Resources plc ("Ariana" or "the Company"), the AIM-listed exploration and development company operating in Europe, is pleased to announce recent resource drilling results obtained from the Banu area of the Kiziltepe Mine ("Kiziltepe" or "the Project"). Kiziltepe is part of the Zenit Madencilik San. ve Tic. A.S. ("Zenit") Joint Venture ("JV") with Proccea Construction Co. and Ozaltin Holding A.S. and is 23.5% owned by Ariana.

Highlights:



· Drilling programme testing the south-eastern half of the Banu vein system over 200m of strike to depths of c. 100m below surface.



· New significant intercepts within the vein system include:



o 4.1m @ 3.58g/t Au + 78.9g/t Ag

o 7.0m @ 2.01g/t Au + 70.6g/t Ag

o 2.6m @ 5.08g/t Au + 102.5g/t Ag



· Zone of higher-grade mineralisation confirmed at the south-eastern end of the vein system.



· Potential remains to expand the open-pittable strike continuity of the vein system from 300m to c. 700m, and in drilling certain other vein systems in the vicinity.



Dr. Kerim Sener, Managing Director, commented:



"These results confirm the presence of higher-grade mineralisation towards the south-eastern end of the Banu vein and improve confidence in the mineral resource and reserve estimation. The results also demonstrate the continuity of the vein system to at least 100m below surface over more than 200m of strike. The higher-grade zone at Banu, like those on Arzu South, appears to plunge moderately towards the south-east. This finding, in particular, highlights the opportunity to identify other plunging shoots containing high-grade mineralisation elsewhere along strike. As with other vein systems at Kiziltepe, additional drilling has proven the potential to add to the resource base, which could lead to further increases to the life of mine."

[kaos3] 18/5/2021 07:22

what is very valuable to me - JV is giving us the "usual data" - so all good regarding the info flow and my worries about info stoppage nil

superb quality drilling results.

[lottsgold] 18/5/2021 07:15

Another nice update, nice grades and intercepts combined with the new ball mill production should increase substantially.

[soulsauce] 18/5/2021 07:14

More good drilling results 👍

[kaos3] 18/5/2021 06:10

looking at the graph - there is an usual 50 % retrace from a run up. we are close to it and soon the worm might turn. A B C waves...

above graph is quite school book one imho

gone 2 - 6p, 50% is 2p (4p/2), almost touched the 4p target and up we could go

[charles clore] 17/5/2021 20:08

I don't know, Plas. What I do know is AAU is a significant silver producer and the silver spot price looks close to breaking out. What that would do for the company is anyone's guess. But I imagine it would set a rocket under the price. Watch Basel3 unfolding.

[plasybryn] 17/5/2021 19:26

Did the Turkish lock-down finish today although I understand it didn't apply to businesses like Ariana Resources?

[konil] 17/5/2021 16:54

soul, ha ha.


et al,

i wonder if what we are seeing is the start of the impact of basel3. if it is it could go either way i.e.

- if basel3 implemented with no dispensations (or minimal watering down) for lbma/wgc/comex then pms could have quite a run

- if basel3 kow tows to the needs of these groups then any near term upswing could be reversed, of course this assumes the current upturn is due to basel3, which it may not be.

[kaos3] 17/5/2021 16:52

well - there was long discussion about where is the news on this BB - my point is: the major JV owner decides what will be reported and when - above the min law requirements regarding reporting - to the minority owners IF not contracted for in an agreement. Min usually is - accounts + short comment. No operational details are needed.

That is why I asked - did anyone read the JV agreement?

[pauliewonder] 17/5/2021 16:39

Gold, silver and copper all doing well today. Come on AAU, give us an update. Tomorrow morning would do nicely...

[soulsauce] 17/5/2021 16:20

kaos/konil email Yellow Jersey, I am sure they will supply you the answer 😆

Seriously though, get a grip Kerim.

[konil] 17/5/2021 16:08

sorry don't know. but i expect aau to report on the jv as part of its aim obligations though if what you say is correct the quality/detail/timeliness may be of lower standards.

[kaos3] 17/5/2021 15:28

JV entity has much lower legal duty standards on providing info to its parent(s) if not regulated otherwise. Is it?

[konil] 17/5/2021 15:23

kaos, not entirely sure what your question is but i'm assuming you refer to aau's obligations to report to market. aau is an aim listed company and i would expect they are obliged to continue with aim reporting requirements regardless of being a minority holder in some projects. as regards non-regulatory reporting i think ks said they would move to 6 monthly instead of quarterly.

[kaos3] 17/5/2021 12:08

I was wrong on the merit of court ruling. OK and thank you. But my point was - If I have less than consolidation trash hold investment in a daughter Co - the daughter has no reporting obligation - but that prescribed by the law. And that is not much and not frequent. If there is not a contract paper stating different - or Cos own rules. Is it so? - and that is - what I was asking/stating. - miniscule tech detail on court ruling is answered and thank you for putting it right.

[backmarker] 17/5/2021 11:55

looks like the gold chart is reaching the top of a 5-wave up since the double-bottom was completed at the end of March. but maybe not.

if we regard the period from the Aug20 high to the Mar21 low as a 3-wave down, then the period from the Mar21 low to now doesn't seem long enough nor the retracement high enough.

so is the current 5-wave up of a lower order, i.e. the first wave of a 5-wave up ?

probably, imho.

what I do believe is gold is now convincingly back in a bull trend, with plenty of distance to go.

I also think that AAU share price has not been motoring as we would like partly because of this recent downwave, but also because the dollar has been weak. I expect the dollar to continue weak in 2021, but the rise in the $PoG to more than compensate for that.

I now expect AAU to start rising steadily again. 10p by Oct21.

[konil] 17/5/2021 09:16

came across this link on chip's gold thread.

apologies if it has already been posted here.

it refers to potential impact to pm markets should basel3 go ahead without modification or even limited modification, and is relevant to the price manipulation that is often mentioned on this thread.

well worth a read imo.

[jaf1948] 17/5/2021 07:40

I have seen this happen many times over the years with small companies, particularly on AIM. The CEO and the BoD come to regard the company as their own private fiefdom and start to see their shareholders as nuisances to whom they occasionally throw the odd crumb.

It ends in one of two ways. Either the CEO is as good as he (or she) thinks and the shareholders are happy with the resulting success of the company, or alternatively the secrecy produces a downward spiral.

I am confident of the former outcome but I fear our lack of new shareholders and the current share price indicate that many fear the latter result.

[doinnuthing] 16/5/2021 20:07

Re the earlier discussion on the London Gazette and codes. The details behind these can be seen, free of charge, on the Companies House web site and look under Ariana Resources plc under Filing History.
The D4 refers to form Confirmation statement (CS01)which states number of shares in issue (all types so for Ariana that is deferred and ordinary shares) and the values in the accounts.
The G2 refer to the share options which were exercised and show the new shares issued (Form SH01) on 19/2 and 24/3 2021
the 9 April dated ones are re-submissions (for whatever reason) of the options exercised made on 26/10/20 and 8/12/20.

Thus they do not form part of the capital reduction per se but normal requirements.

[konil] 16/5/2021 04:28

rather disappointed with aau shareholder comms...to put it mildly.

also some worries about lack of focus from ks which may or may not be warranted but no way of knowing...oh that's right we haven't been told anything!

effective comms should have seen this much higher given;

1. what they have achieved including jv which has brought in huge amount of cash relative to sp
2. the near term organic growth
3. the near term copper story
4. the strong support from pm prices

many here on multibags already but i'm still in the red so i have no qualms stating negative sentiment.

bod need a wake up call.

[paul280i] 15/5/2021 22:53

I've been trying to find the details of the notice but no joy there. Strange thing though, while looking for that I found that a friend I was close to in the 1970s had died, I think he may have left a tidy sum, should have made more effort to keep in touch.

[plasybryn] 15/5/2021 21:06

Oh thanks. Nothing new - something they have to do each year by law. Cheers

[royalalbert] 15/5/2021 20:56

Read this Plas.