Ariana Resources Share Discussion Threads

[plasybryn] 27/7/2022 11:41

That should read Quote in my post. Sorry.

[konil] 27/7/2022 10:59

could someone please explain the impact of resolutions 6 and 7. tia.

[plasybryn] 27/7/2022 09:45

As I mentioned yesterday Michael has been Chairman since July 2013, (9 years) but a director since 2005. Quite:-The South African, who is also chief financial officer of Eurasia Mining (LON:EUA) moved into the chair at Ariana last week, succeeding Michael Spriggs. De Villiers has been a director of Ariana ever since it floated on AIM in 2005.

[plasybryn] 27/7/2022 09:41

Sorry to hear that. But August is never a good time. All the very best to you. My history of keeping the Board in order is about as effectual as Michael as Chairman I'm afraid.

[soulsauce] 27/7/2022 09:24

"However that would involve much management time in finding a suitable replacement, extra cost in that a significantly increased (extra) salary would need to be funded in the absence of options"

I am sure management have more than enough time to find a replacement given most things are now run by 3rd parties, although it might eat into Kerim's R&R in Aus and time spent with PNT.
Extra cost is worth it in that we will have a strengthened board that most of us have been wanting, and well worth it if it gives us better corporate governance.

[thanksamillion] 27/7/2022 09:13

dp.

I agree the guidance principles are as you say.

MDV come with extensive mining knowledge and I am sure KS will use him as a sounding board. Changing his role to Director would acknowledge his considerable shareholding and retain his knowledge and advice which I believe is of great benefit to the company and would be missed were he to leave the board. However that would involve much management time in finding a suitable replacement, extra cost in that a significantly increased (extra) salary would need to be funded in the absence of options.

At this point in time I would prefer that all the companies resources are focused on the tasks in hand.

[paul280i] 27/7/2022 09:06

Plas, I can't make the AGM this year, August is a busy month. I'll have to leave you to keep the BOD in order.

[donald pond] 27/7/2022 08:52

Thanks, KS has a key role: he is the geologist, identifying and exploiting opportunities. The role of the Chairman is to exercise oversight over KS, hold him to account and act as a bridge between the executive and the shareholders. This is why chairmen shouldn't last more than 9 years or be awarded options: their job is to keep enough distance from the executive to challenge constructively and not merely maintain the status quo. It's why the corporate governance codes have a "comply or explain" rule when a chairman is tge for 9 years. But with the options, MDV looks unable to provide the oversight you expect and need from a Chairman. That's just the facts.

[thanksamillion] 27/7/2022 08:45

Who have you in mind to replace him?

If M de V has been in place for too long should we also replace KS, oh and Maybe Zak has become a bit stale as well.

[kaos3] 27/7/2022 08:41

once upon the time there were "active" funds. considered hostile by the management. Ichan types. nowadays the only one that I know of is Bernstein - doing things in UK (HUR, DLAR..).

Like a shop to go to for small PIs.

I see many opportunities for such active approach on AIM. Not AAU though.

Were "active" funds replecaed by private equity - so all the spoils go to predator only - predator not sharing spoils with small PIs?

[donald pond] 27/7/2022 08:24

I think we all want to be nice. However, a chairman in place for 17 years is a breach of all corporate governance guidance. If that is going to be approved by shareholders it needs some compelling argument, and the general view seems to be that its not clear what MDV adds to the company. That is something that can easily be fixed, but the time is right for a freshen up.

[renniks2016] 27/7/2022 07:45

Asgard company news.


Lets try and be kind to each other today.

[zangdook] 27/7/2022 02:14

might want to say 'vote against x & y' unless you mean to abstain.

[bigglesbingham] 26/7/2022 20:38

Would be ironic if that license evolved into a multi million resource with benefit of the newmont database. Good news will result in sells when a large seller around cos they know there will be a market and their residual shares won't be too adversely effected .

[soulsauce] 26/7/2022 19:47

Nicely xow 👍

[xow98] 26/7/2022 19:41

Log into HL,

on the right will be "Send secure message"

Scroll down to "Your message" under which will be a dropdown which will say "Nature of your enquiry"

Select the dropdown and then select "Corporate Action instructions/Voting Instructions/AGM requests"

Subject - I typed "Ariana Resources AGM"

In the message I said "I would like to vote in favour of all resolutions other than x & Y" (whichever you feel appropriate)

Then select "Send message"


That's how I usually do it. Eventually you will get an email saying that they have voted accordingly. Timing might be dependent on cutoff for eligibility for voting in terms of your shareholding at that date.

[plasybryn] 26/7/2022 19:38

I think we had a positive RNS this morning which seems to have been overlooked and not discussed. I guess that is because it's not value significant in the scheme of other things that should be going on and are overdue to be reported upon . Shame really.

[soulsauce] 26/7/2022 19:00

Xow did you just send HL a general message with for and against the points 1 to 7?
Thanks in advance.

[plasybryn] 26/7/2022 18:55

Can you share this with us please?

[xow98] 26/7/2022 18:48

The only documented way to let the board know our feelings is to use our proxies for the AGM.

Those that feel they are doing a great job will surely vote for all the resolutions, those who don't must show they are unhappy by voting against any resolution they feel will change things. Vote counts are disclosed so there is a record of sentiment.

No excuse if things don't change and you have not done so.

I have sent my instructions to HL today.

[dixi] 26/7/2022 18:25

No, it's like religion, you have to have unwavering faith!

[plasybryn] 26/7/2022 18:17

If only I had confidence in this wonderful £500m Market Cap. projection by 2029/2030. What are the stages. How does he see it being achieved. Did he pluck the number out of thin air or is there a clear strategy and plan? Are we allowed to have an insight or is this beyond our pay grade?

[dixi] 26/7/2022 18:04

Around £30m market cap now. So as good as a 15x capital return from this level once KS's £500m valuation is achieved.

[soulsauce] 26/7/2022 17:49

12802 bang on Plasybryn.

[plasybryn] 26/7/2022 17:24

Twenty years of supposed celebration and back below 3p. This Board needs to be strengthened or changed imo.These are serious issues. Investors are losing money and the Co. fiddles with secondary small beer projects whilst the core value drivers are apparently ignored. Get a grip for heavens sake.