Ariana Resources Share Discussion Threads

[actonovator] 07/1/2022 10:41

Its been a while since I last gave this any thought, but isnt the big financial unknown how much Hellenic want for the mine?

[d1g3y] 07/1/2022 10:36

Hi Shortarm, I agree 5 mil is a very small cost to set up a mine. Do why does Venus even need to IPO? AAU has cash sitting in reserve and could lend it. I did read that the minimum free float for entry onto the LSE is 25percent. There is no official minimum for entry into AIM but the article did say in practice it's normally a minimum of 25 percent

[paul280i] 07/1/2022 10:14

This Venus IPO seems very simple to me, very similar to a placing. Venus issue new share to the new subscribers and Ariana's percentage holding gets reduced, just as mine did in Ariana when they had the last placing. (Don't start Soul!) My guess is the new shares will be just below 50% of total so the existing 2 shareholdes retain control.
But what do I know.

[thanksamillion] 07/1/2022 10:01

Thanks actonovator, it doesnt tell us a lot does it!

[actonovator] 07/1/2022 09:56

I think the last we heard was the original one dated 12 Oct - which expected a definitive agreement by mid-Nov. Yikes!

[soulsauce] 07/1/2022 09:55

Time for an update early next week I think.

I see SML are seeking a JV partner to restart their Leigh Creek copper mine which is ready to go in Aus'. They need $10m to restart. Stumping up half that would probably get us in.

[thanksamillion] 07/1/2022 09:47

I am struggling to find an RNS refering a the Venus IPO, can anyone point me in the right direction.

[temujiin] 07/1/2022 09:44

Shortarm, I'm not saying AAU will buy in the IPO but it's not complicated, if AAU want control and if they want to own more of the upside that the copper gold mine represents, maybe they should increase their % holding.

[thanksamillion] 07/1/2022 09:41

Personally I see the IPO as a way to get Venus shares trading on the open market ie as a potential future exit strategy. I suspect that 10% more new shares will be created for the IPO and Venus will then concentrate on the mining. Additional funding for the mining will come from bank loans.

[renniks2016] 07/1/2022 08:28

For those interested, research note on the Apliki deposit, note the name of the senior geologist thanked for data and contributions!

[shortarm] 07/1/2022 08:10

But either way, a fully permitted mine capable of producing 99.999 percent pure copper in nine months is a superb step forward!

[shortarm] 07/1/2022 08:09

You seem to be making this very complicated?Why would a JV issues 100% via IPO? And then but their own IPO shares back?The cost to build the mine is five million euros! Next to nothing!Ariana could pay for that from spare cash, what we don't know is how much Venus is having to pay or swap for 50 percent of Apliki......

[temujiin] 07/1/2022 07:19

Morning Thanksamillion,

its a hypothetical scenario. As I see, and I could be wrong, AAU own 50% atm, it depends on how much of the company the joint owners are offering to the public.

If it's 100% then after the IPO AAU would need to partake in the offering and buy half the shares to maintain it's 50% share of the company, and 50% of the upside via dividends.

It could be the joint owners keep 25% each and offer 50% to the public. In which case AAU would need to buy another 25% and 1 share to have a majority. In effect as many shareholders don't vote, owning 35-40% of a company means effective control.

As for liabilities like paying for building the mine/exploration. If it's gone 100% public ownership then it wont be funded directly by AAU or anyone as the new public company will raise debt or issue more shares (which AAU may buy into) but will dilute those who don't partake.

[claretandbluedave] 06/1/2022 14:47

Ha ha, not from London

[claretandbluedave] 06/1/2022 14:47

Thanksamillion, I did do, just added 50k, but I hope you're right about a year's time

[zedder] 06/1/2022 14:36

I hope you are a Londoner Dave, otherwise you can shove your Claret and Blue up your hoop!

[thanksamillion] 06/1/2022 14:21

Look at it this way Dave, you can top up today at under 5p, try doing that in a years time.

[claretandbluedave] 06/1/2022 14:00

And there's the seller again, just waiting for it to nudge up, then bring it back down. Couldn't make it up.

[thanksamillion] 06/1/2022 13:07

Temujiin

Surely if you mean via the IPO then no they would have to buy half the IPO shares plus one.

If you mean prior to theIPO then yes but would need to buy from the exiting shareholder who I dont believe would be a willing party, even then they would still need to buy half the ipo to maintain control..

[trevor1234] 06/1/2022 10:23

DIG3Y
I agree AAU should be entitled to 50% of funds from IPO but the costs thereafter would no doubt be shared between all shareholders at the time

[shortarm] 06/1/2022 10:15

5 million Euros CapEx with a 9 month build time - superb!Current forecast LOM production is 19000 tonnes = nearly 42 million lbs of copper at over 4 dollars a pound...All these figures will no doubt be improved going forward!

[shortarm] 06/1/2022 06:40

Mine start costs are incredibly tiny! - it’s in the presentation:-D

[shortarm] 06/1/2022 06:38

I'm not old :-PJust grumpy lol

[d1g3y] 05/1/2022 22:46

Hi Renniks, thanks for the correction. Festive fun seems to have erased a few things from my brain

[renniks2016] 05/1/2022 22:37

Dig, PALM retained 36.6% of PNT which is significant.