Ariana Resources Share Discussion Threads

[snotra] 24/6/2021 20:23

Isn't September the new regulatory deadline they've been given but they're intending to publish in July.

[paul280i] 24/6/2021 17:13

There will have to be a SGM to approve the dividend or it could be approved at the AGM. I'm confused by today's RNS as to the dates of the AGM. In the first paragraph it states the results will be published no later than 30th September 2021. The second paragraph "later in July" is mentioned, with the AGM held in August.

I am probably mistaken but how can the AGM be held in August when the accounts may not be published until September?

I happy that the company have given an concise update of the latest plans today, I am looking forward to more results soon.

[jaf1948] 24/6/2021 16:55

If the special dividend is paid on August 6th 2021, its gestation period of 617 days would be exactly equal to that of an Asian Elephant.

Now there's something to sprinkle into your conversation tonight.

[paul280i] 24/6/2021 15:53

Plas, which yesr?

[plasybryn] 24/6/2021 15:46

xow98: What is the logic for that that statement? I'll wait to hear what Ariana say early July in the RNS, but I agree it is probably realistic to expect an ex dividend date in July and a payout date in August.

[xow98] 24/6/2021 15:42

Ariana – Excuses For Late Accounts but Timetable for Dividend Pay-out Looks Set
BY NIGEL SOMERVILLE, THE DEPUTY SHERIFF OF AIM

AIM-listed gold and silver producer in Turkey, Ariana Resources (AAU), offered up its excuses for the late publication of its FY20 accounts (now expected in July) due to Covid restrictions. We’ve all got excuses……;but the announcement suggests that the long-awaited special dividend is likely to arrive in August. I can’t wait!

[red imp] 24/6/2021 14:20

AAU own 23.5% of the JV. The JV don't own any of AAU and therefore can't dictate any dividend policy.

[konil] 24/6/2021 13:52

kaos, don't know the answer to your questions but as regards divi i would expect that each partner to the jv would be free to set their own divi policy. i may be wrong but its not really something to be decided within the jv as i see it.

[konil] 24/6/2021 13:48

soul, yeah agreed.

they can pay regular divi without using remaining jv cash.

revenues are already sufficient and soon to grow. at say 3% they would only be using c.50% of revenues as they are currently prior to increase at kizil and prior to tavsan. jv cash buffer in bank meantime.

[kaos3] 24/6/2021 13:32

we are probably allowed to know the general terms without JV partners hiding behind confidentiality - so we know what is to be expected from now on. a framework of MO.

[kaos3] 24/6/2021 13:17

does any one know the JV postulates regarding
- divi
- veto
- reporting (not just frequency - but what data have to be given to the AAU for RNS publishing)
- geography limits of the JV if there are any
- AAU - JV consulting contract
- remuneration
- loan gurantee costs and obligation of the JV partners, capital limits
- transfer pricing controls
- ev conflict of interest regulation (geography - licences, new JVs, etc)

Where can I read on those issues - because imho AAU gave away all that is near cash and cash and I have no clue about the new game rules? Not the old RNS "collection" (intentions) - but as it is as a final fact.

TIA

[johncasey] 24/6/2021 13:14

massive rns justout at alba resources...commercial gold!

[soulsauce] 24/6/2021 13:11

You maybe right konil.

I would be disappointed, however, if the bulk of the remaining JV cash was not earmarked for a new project(s) and income from RR taking forward said project(s), rather than a wedge of the JV cash kept as a buffer so we can pay out a small divi.

[konil] 24/6/2021 13:03

soul / shortarm, imo aau already have sufficient resources to pay a regular dividend. they have 23% of kizil profits i.e. c.$4m p.a. plus remaining jv cash which wont all be spent in a hurry.

and revenues soon to be increased with increased mill capacity at kizil and increased again when tavsan comes on stream in say 2023.

a divi of say 3% would cost c.$2.25m so they could afford that now even prior to increased revenues from kizil/tavsan and without dipping into remaining jv cash.

i think kizil and tavsan revenues are pretty much baked in and if anything goes wrong or is delayed they can always cancel a dividend payment.

just a thought.

[soulsauce] 24/6/2021 12:31

So he says, once Tasvan is producing we expect to pay a regular dividend?

It could be with the RR expansion Kerim might think he has enough from Kizil to pay one but that might be a big call at this stage.

[shortarm] 24/6/2021 12:28

I don't see why Kerim would say 'Future dividend policy' unless their intention is for regular dividends based on free cash? Otherwise wouldn't he just say 'announce special dividend'....?

[soulsauce] 24/6/2021 12:21

Good to finally have some update of sorts and good to hear we will be having more updates on other projects in July.
Still rather disappointing on the Tasvan front though with drilling ops still under the planning stage. The project keeps dropping further back and I think it now unlikely we will have any production before Q1/Q2 23 at best and can't see any form of regular dividend being paid until that is producing.

Hopefully there is a replacement project coming may be, and that is why there seems little urgency there?

But good to have at least something from the mgt and hopefully there will be a fuller update with the results.

[konil] 24/6/2021 11:45

kaos, interesting article you posted by patrick heller, he explains the mechanisms (some fradulent and secret) by which the powers that be manipulate gp to keep it low.

heller's concluding line...
"However this works out, I still anticipate much higher gold and silver prices in the next six months to two years."

[d1g3y] 24/6/2021 10:24

Thanks Shortarm

[shortarm] 24/6/2021 10:16

Couple of 100K buys on the other market.

[shortarm] 24/6/2021 09:09

Don't think so, it's payment for bringing AAU only resources unto the JV. Was RNS'd a while ago.

[d1g3y] 24/6/2021 09:05

A further US$2 million is expected to be paid in instalments once the transfers of our Satellite Projects to the JV are completed by the authorities.I assume this is part of the 8 million Salinbas payment?US$8 million to be committed by Özaltin to fund a Feasibility Study, EIA and additional permitting on Salinbas.

[d1g3y] 24/6/2021 08:56

Confidence and momentum are difficult things to build but communication is key. A simple RNS like this defo gives us more confidence and helps set expectations as we wait for big project plan

[lottsgold] 24/6/2021 08:47

Well updates like this will at least stop the temptation to sell to find greener pastures. So much going on and on the cusp of it, Tavsan and Salinbas drill programmes over the summer which June-Sept.

[dixi] 24/6/2021 08:43

It's great that the company has finally updated investors. I hope they now continue to do this in a timely manner. You could argue that it makes no difference looking at the lack of reaction today. But, given time and more timely updates and clarity, this situation should start to change for the better.