Ariana Resources Share Discussion Threads

[paul280i] 15/7/2021 08:26

Plas, you wrote that you had seem the AGM agenda, could you give a link or point me in the right direction to view this, Thanks.

[bigglesbingham] 14/7/2021 23:19

I reread today review and I found it to be actually quite good in explaining the rationale for diversifying into different metals against a socially responsible backdrop. One point he made which I drew some powerful conclusion was we don't miss in exploration and there is a huge find over the hill I took that a cryptically to mean they are exceptionally confident about salinbas. Which they are from my many discussions with the company.

[steviec1] 14/7/2021 22:39

Nice post Kirbs

[soulsauce] 14/7/2021 21:40

I certainly think the confirmation of Tasvan late 22 has knocked the share price a bit as most people know it will probably tip in to 23. That project has been far too long in the baking.
Hopefully we can get the plant upgrade on time and get throwing more ore through.
Some of that statement today seemed almost apologetic.
No need to apologise, just get the basics right and good PR is about as basic as it gets as it costs very little.
To have a highly paid broker sit on their hands is totally unacceptable and doing shareholders a disservice.
I would like to reinvest my divvy but refuse to until the company starts getting this right.

[masterg1] 14/7/2021 19:26

Plasybryn - Companies pay interim dividends all the time and usually approved by the Board of Directors. They have some sort of figures in front of them for the basis of the declaration. The special dividend assuming it is treated like an interim dividend would not require approval at any AGM or similar. In the case of a final dividend always require approval at an AGM. Therefore I do not expect any approval to be required by company general meeting for the special dividend. Definitive answer will be found in the Companies Articles of Association for AAU on the types of resolutions required for any particular situations. Most companies Adopt standard articles of Association.

[tnt99] 14/7/2021 19:20

Soon have 3mines producing by 20243x the income 3x the share price3 x the profit and that's without everything else going on in Cyprus Europe and new investment fundAll good plus a lot of the drilling costs of development being paid for by the new partner I think a special dividend of around .75 p going to be paid soonAnd a regular small dividend in the future sounds all good to me

[plasybryn] 14/7/2021 19:00

Thanks masterg1 for that informed response which I can see makes sense. So we are due a Trading Statement probably early August for the first 6 months. Will this be part of the process or do the Accountants need to produce a more definitive financial statement confirming "distributable reserves". If one was being optimistic, wouldn't one expect this work to have already been carried out. Surely you aren't indicating another delay?
I thought we would have got a statement (RNS) confirming the proposed amount per share, the ex dividend date, the record date and the payment date, subject only to shareholder ratification at the AGM. But I think you are saying there will need to be a Special or Extra Ordinary General Meeting to ratify this?

[konil] 14/7/2021 18:57

thanks spangle and masterg, both welcome contributions for different reasons!

[masterg1] 14/7/2021 18:37

AGM resolutions are to vote on the 31 December 2020 accounts. AAU had no distributable reserves at that point in time. Capital reduction has just recently been approved by the Court. Therefore we are in position to pay dividends as the deficit on P&L has been eliminated. The reason we are expecting a special dividend is that we have sold a substantial part of our holding in Turkey. Some sort of management or interim accounts need to be prepared to say 30 June 2021. In order to establish the level of distributable reserves we have and any dividends do not exceed that limit. Since we are only expecting half the amount less expenses and taxes of the sale proceeds. Therefore no chance of exceeding the distributable reserves. It will happen soon as the accountants/auditors give confirmation of the available distributable reserves. I would expect the special dividend to be around 1p per share. That’s my opinion only on the dividend. I am happy to hold and wait as nothing else has changed.

[spangle93] 14/7/2021 17:34

Konil - I kept reading through the armada of elephants, sure that the dividend must be one of them....

[konil] 14/7/2021 17:33

how long to build an actual dividend payout? ;-)

[bigglesbingham] 14/7/2021 17:29

It will take a year to build plant commission that's after sorting finance so I thought late 22 was optimistic.

[plasybryn] 14/7/2021 17:02

I've read the Notice of the 2021 AGM and resolutions, but can't see anything about the Special payout? Shouldn't this be a resolution for shareholders to vote on? Shouldn't the details have been announced pre release of the AGM resolutions? Am I missing something?
And at the start of the report as in previous years it says - The Company plans to achieve its goals by:.....
but as far as I can see no goals have ever been specifically specified. Are we suppose to assume we know what these are? Perhaps these are supposed to be covered by "Principal Activities" .Incidentally these are the same as last year. Any thoughts?

[actonovator] 14/7/2021 16:05

The only other small pm company I have really followed in the last 2-3 years is AAZ. Notwithstanding the recent conflict in Azer, progress has been imo glacial and arguably much slower there than AAU. Perhaps these lightning miners with abundant newsflow re mythical. I'm mostly happy with Ariana.

[jaf1948] 14/7/2021 16:02

You ain't by yourself !

[konil] 14/7/2021 15:49

still no hard news on the one-off divi. been round the jam tomorrow circuit (elsewhere) too many times to count with no subsequent follow up, so not as excited as some by recent news. would be more excited if i felt they were paying more attention (pushing harder) on the near term projects. tavsan end 2022? ugh! i dont know enough of the details and maybe they are pushing, i just dont get the sense that its happening.

oh yes, i'm the disgruntled one over here in the corner by myself.

[paul280i] 14/7/2021 14:41

What are the odds on getting the dividend declaration on or before next Tuesday?

[bigglesbingham] 14/7/2021 14:39

Agree with a lot of that kirbs

[kirbs4] 14/7/2021 14:33

I still read this board most days but don't contribute as much any more, seems to be mostly the same thing. There is either a seller in the background (I mean this guy must've owned 30% for the length of time the selling has been happening), delays, bad PR etc. In truth it is all relevant to a certain extent, but ultimately I think little old AAU has reached the point in its growth that it now just reflects the gold price. It is alarming the similarity in the gp vs share price pattern over the last 12 months. My view is this will continue until something significantly changes the known value of the company and the difficulty is most of what is coming is now already expected. I am happy here, I feel locked and loaded, I don't see much by way of downside, I see almost guaranteed gradual upside, and there is a slowly growing possibility every day of something spectacular happening in future. I feel a lot of people are still expecting a trebling over night and I just don't see anything coming that will do that, I think we are now a solid proposition with a hopefully regular income from Divis and a growing potential for something new to give us that explosion in future. Just think a reset of expectations is needed for some people. I joined 7 years ago with those hopeful expectations, and we sit at 5 times the share price back then.

[thanksamillion] 14/7/2021 13:17

Inflationary expectations finally lifting gold and silver?

[bosbus] 14/7/2021 12:40

And, maybe get a proof reader who knows how to spell Tasvan and Salinbas!

[charles clore] 14/7/2021 11:54

Kerim has always understated the company's potential but yet over performed. As far as I can recall he has never let shareholders down by breaking a promise (despite taking ages to do it). I just wish he would be a bit more adventurous when he's holding a full house.
edit: - oh, and get that PR and broker sorted out!

[jaf1948] 14/7/2021 11:03

OK, this is only my take on the RNS but having reread it, the overall impression I get is that they have accentuated the negatives and played down the positives.There are two possible reasons for this IMO. One, it is deliberate so that once the JV starts producing results, they can say how good a decision it was, or secondly, they are not very good at writing up positive announcements which could also explain their reluctance to use efficient PR.Overall, another wasted opportunity.

[d1g3y] 14/7/2021 10:55

Final paragraph from today's RNS. In addition, very unusually for a mineral exploration and development company, we are advancing a strategy to enable the Company to pay dividends over the long-term. This is in recognition of the important role played by our shareholders, who provided the risk-capital we required during our formative period and in the expectation of facilitating a virtuous circle of future investment in our Company.

[d1g3y] 14/7/2021 10:52

I had previously stated that I would not reinvest any special dividend back into AAU as I'm overweight here and potential elsewhere. However with the recent drilling results and news flow and especially if they confirm a regular dividend I think I will be changing my mind