Ariana Resources Share Discussion Threads

[jaynesdad] 22/7/2022 19:29

Soul
I suspect that its not someone dumping chunks. I think it is more likely to be several long term investors who have given up on Ariana. I think that is probably naïve as this must be near the bottom of the share price curve, but then again I thought that at 4.5p, 4p and 3.5p, but here we are essentially at 3p. For some investors time has run out and they are looking elsewhere. I noticed that the AGM resolutions include the re-election of MDV. While I don't think it very likely he will lose that vote, some discontented shareholders may signal their feelings about the Board in general by opposing.

[soulsauce] 22/7/2022 18:38

Ahh I am not sure about that JaynesDad but thanks anyway.
I think falling grades should have been mitigated by the significant increase in throughput and also I understood they were mixing in higher grade stuff from one of the satellite pits.
I wonder also if they have started using ore again from parts of Arzu South.
Hopefully all those questions will be answered next week in a good way.
Let's hope for a turnaround next week but someone is still intent on dumping chunks even at this price.

[jaynesdad] 22/7/2022 17:44

Soul, you talk a great deal of sense. I'm not sure how production has been affected by the second mill, as been said this is against the background of expected falling grades. I am keeping an open mind and await next weeks report. I just hope that report doesn't lead to further share price decline.

[soulsauce] 22/7/2022 10:18

Fair comment on Salinbas Thanksamillion.
Although I am unsure what CAPEX they need? Tavsan will be funded from a bank loan and drilling is being paid for from production which we know should have increased significantly this year due to the mill upgrade, the funding of which should be all but paid off.
You are right the cash is slowly diminishing and inflation is nibbling away at it ;-)

[thanksamillion] 22/7/2022 10:09

Hi soul, I agree on some of your para 2, mkt cap should be larger. On your third para, they are indeed offering "their " expertise to others however Proccea is the main one when it comes to mining, and Ariana's limited resources is the main reason why it has taken until now to investigate Salinbas in more detail. The cash by the way is slowly diminishing and given the current need for capital expenditure I have doubts as to when the next divi will arrive from Zenit, but what do I know?

[soulsauce] 22/7/2022 09:00

Jeeze Thanksamillion where did you get that?
No it isn't an Anglo or a Newmont but neither is it a small pioneering metal exploration mining company anymore that needs to manage costs or expertise.
It is only small by it's mkt cap, which contrary to mgt hubris, should be much bigger. Given it has been in operation 20yrs the mkt cap is barely a third above what has been raised.
If they need to manage the expertise burden, why are they offering their expertise out to several seed companies and on the board of one of them. Maybe they should concentrate more on Ariana if they are short in that department.
The company is also flush with cash and cash generative to the extent they are paying out a special dividend so I don't know what costs they need to share at this time.

[thanksamillion] 22/7/2022 08:46

Ariana is a small pioneering metal exploration and mining company, it needs partners to share the cost and expertise burden. Investors need to recognise it is not a Newmont or Anglo and the management costs are by necessity kept minimal. This is the nature of the beast until it is big enough to justify a different setup, investors should take this into account before taking a stake.

[jaf1948] 22/7/2022 08:22

From Q&A July 20th 2021:

Q7: Does the Board think the current Board would benefit from the appointment of a further independent Non Executive Director? The team seems very small, especially as not all are full time and others have other responsibilities. The words under Corporate Governance in the A.R. & A's "the Co. will appoint an independent director at the appropriate time to comply with the Code" appears to have been dropped from this years accounts.

A: This is incorrect. We state this on page 35 of the Annual Report, under note 5 of Corporate Governance. The size and composition of the board is currently appropriate for the Company to successfully discharge its duties, though should an appropriate individual, having the right combination of skills (with respect to the company strategy) be identified in the future, then the Company will consider a board or advisor position accordingly.

[xow98] 21/7/2022 23:25

Charles, 12683 - happy to add my 5m shares to yours.

I am all for appointing a non executive chairman (also to be Chairman of the Remuneration Committee) who can hold the executive board to account. Not sure what Chris Sangster contributes on that front (not saying he doesn't contribute in other ways) and how can we have a non exec director who is the part time CFO?

No new options until 1 Jan 2023, so would like Non Exec Chairman to ensure that any new options reflect the fact that the shares were at 6.2p less than 2 years ago under the current board.

The board have consistently paid only cursory attention to shareholder concerns and a new, independent Non Exec Chairman might just change that.

[soulsauce] 21/7/2022 19:00

Was 27/7 last year so could possibly be next week unless that has got delayed as well 😏

[trevor1234] 21/7/2022 18:55

When do we get the half year update on production from Kiziltepe
I think we could be in for a suprise on the up side
what with doubling of capicity
I know the grades are lower, but did'nt I read we were going to mix it with some higher grades from elsewhere

[plasybryn] 21/7/2022 16:53

I can't believe they got the timing of Tavsan so wrong. It is years late. Of course now they can distance themselves from any responsibility as they are just a minority shareholder. But look at Salinbas. In the recent past we agreed to the Ozaltin deal on the basis they had the muscle, the contacts, the financial clout and the wherewithal (people, equipment etc) to accelerate the process. They even started a drill programme in 2021 after years of lying idle and where have we got? Here we are in Q3 and fat fanny Adams of progress reports. Pathetic

[jaf1948] 21/7/2022 16:21

But do they feel ours ?

(There is no answer to that in polite society).

[bigglesbingham] 21/7/2022 16:19

I talk to board occasionally but I do feel their pain in terms of waiting

[jaf1948] 21/7/2022 16:13

Yes !!! I'm part of the team now - I've been voted down.

[jaf1948] 21/7/2022 16:07

Biggles,

Not offended at all and have no problems with anything you post. You may lose patience and I may get frustrated but we both want the same thing. I just wish there was something I could do - I look at you with 4% and even you have problems getting through to the board !

[bigglesbingham] 21/7/2022 15:50

Keep doing it pal you have grips you need to keep on . Just sometimes on the board I lose patience and my apologies for that. Sat with Guinness in the sun at minute . So sorry if I offended

[soulsauce] 21/7/2022 15:24

JAF 12678 a very similar post and realisation as that of desertjoe on lse.
It's remarkable, with the exception of a few yet dwindling voices that still think Kerim is the messiah, that both boards (lse and advfn) are saying much the same thing.
desertjoe is another very long term investor that is reconciled to throwing in the towel.
All these people can't be wrong.

[charles clore] 21/7/2022 15:19

Jaf - welcome to the club. The only way to get something done is to get enough shareholders behind the issue and propose a special resolution at the AGM. My 6m shares would be willing for starters.

[jaf1948] 21/7/2022 15:07

Don’t you think I have tried that ? I asked 3 questions in the last Q&A and got 3 bland non-committal replies. I have sent emails both to the company itself and YJ and again received nothing back of value.

[bigglesbingham] 21/7/2022 14:50

I suggest instead of winging on here you talk direct and get facts from the horses mouth. You've invested and you have a right to ask the questions or raise concerns you have here

[jaf1948] 21/7/2022 14:40

Biggles,

I have invested in many AIM companies over the years where the share price has fallen by 50% or more. Ariana is the first one that has done this but is actually profitable at the same time. That shouldn’t happen.

Why should I give it a rest ? Why should I just sit back and take a large loss because the BoD can’t be bothered to do parts of the job that they are not interested in. If they tried and failed, so be it. But they don’t even try.

[bigglesbingham] 21/7/2022 14:35

Give it a rest JAF

[jaf1948] 21/7/2022 14:23

It's taken me longer than it should have, but I now realize that I have underestimated Kerim.

Kerim has, in fact, achieved exactly what he set out to do. No one disputes his expertise in geology but on top of that, he has managed to be the unchallenged, and unchallengeable, CEO of a public company yet be able to run it effectively as a private company where he can do what he wants when he wants. Shareholders are at best an inconvenience and at worse an irritation which can be smoothed by the odd presentation or video and he has accumulated enough cash so that fund-raising is not even on the horizon.

[soulsauce] 21/7/2022 09:24

Not a bad idea Thanksamillion, by then if there has been no decent news this might be starting with a 2 :-/