Ariana Resources Share Discussion Threads

[chinese investor] 03/6/2023 08:53

Professor Pettigrew (AAU) 11 May 2023 - 16:21:00
Already in excess of 2m here soul - and still adding.

[soulsauce] 03/6/2023 08:27

Not sure it's a write off JD but it might be in the cold for a good while yet.
If we had kept Apliki and kept to the timelines first promoted, we would now have been months away from production there. OK I know Ariana keeping to timelines is stretching it a bit far.

Shareholders do need a full and frank update about Cyprus.
We have spent a lot of money on exploration and we have bailed Venus out for a considerable amount.
It seems to me Cyprus is one of the projects, as some were mentioning yesterday, where Kerim is just happy to sit and wait however long it takes for the market to improve.
However this doesn't suit most shareholders or help attract new one's.

Anyway the results will be out at the end of the month so at least we will get some sort of update this month.

3 months to the day since Tavsan was put on ice.

[jaynesdad] 03/6/2023 01:11

konil
Very much agree with you. I pointed out that we run the risk of negligible production from Kiziltepe before Tavsan then Salibas get into production a long time back (despite the timescales per the (I think) December 2022 presentation).
And that was before the official Tavsan delay.
So many projects, so few approaching production despite Ozaltins promises. Its worrying to me now.
If I was to single one out, is Cyprus now a total write off?

[soulsauce] 02/6/2023 16:36

Very much so.

Good weekend all.

[plasybryn] 02/6/2023 15:51

Sorry soulsauce - my fault. I thought we would be on the same page.

[soulsauce] 02/6/2023 15:27

Think you have misread it Plasybryn it says can't argue not can't agree. Your post and especially the last paragraph is bang on 👍

[plasybryn] 02/6/2023 15:14

Soulsauce - 18061 Can't agree - please tell me more what you are thinking. Thanks

[konil] 02/6/2023 13:44

plasybryn, 18059. agreed!

feels like a very different management ethos to the one i sensed 3 years ago. i doubt much will change or be made to change in that regard.

i look forward to hearing of successful resolution to the tavsan delay and a revised production date. that will do for me.

the run down of kizil revenues will soon (if not already) look ugly and colour market opinion. tavsan's original production date would have nicely slotted into place to take up the slack, and even the delayed 2023 q4 date would have been good. so it is critical tavsan comes on stream pdq in 2024.

is this where ozaltin shows their true worth (by getting speedy resolution of the current political issue)? whether they do or don't, its unlikely we will ever know. do i care? not really so long as tavsan gets going quickly. everything else is too far away to interest me for now and i suspect same applies to many already here or looking at aau as an investment. some milestones/gantt charts would help, oh no, forget that, not going to happen!

[kaos3] 02/6/2023 12:57

exactly - but ... when i was in a so called situation i created mud. blame it on them ... i am willing ... and vice versa ... suitible to all ... some never got an answer until i decided it is ripe.

just to be professional. respecting rules. procedures. ....

lol

[soulsauce] 02/6/2023 12:51

Also the JV partners should be cognizant that Ariana is listed company and act accordingly.

[kaos3] 02/6/2023 12:45

they should activly seek the info that THEY CAN release - on that i agree.

i even say/said THEY HAVE all the info atm.

my whole point was - CAN THEY ??? - release the info

i was not clear enough. sorry i can not write. they should activly seek PERMISSION to release the info probably

[soulsauce] 02/6/2023 12:37

Can't argue with that Plasybryn especially the last paragraph.

[soulsauce] 02/6/2023 12:35

kaos if that news is not forthcoming it is up to the company to seek it to keep shareholders adequately appraised especially when value is being destroyed.
Are you trying to suggest there is no more news available nearly 6mths on from the last Salinbas update when the last one barely covered what must have been done in the previous year? And there is also all the drilling work done at Tavsan and Kiz.
I suppose we will have to agree to disagree.

Well done to the lth's for coming to the rescue once again.

[plasybryn] 02/6/2023 12:18

I don't think the problem is necessarily communication in total, although there are always two ways to present things. Last year we saw Chris Sangster stand in for Michael and you could see a marked difference over Kerim's & Michael's skills. He was thinking more about what shareholders wanted to hear, and presenting it a much more focused manor. What we don't want is regurgitated information which has no value content or time focus.
But the problem for me goes beyond communication, it is to do with the strategy and the way that is communicated. I suspect the way Kerim sees the Co. is in phases. But I don't think he is adequately communicating if this is the case.
I believe he considers Phase One has been successfully completed. That was establishing the Co, doing Exploration and Development programmes, leading to a mine discovery. Building a producing mine using the expertise of partner Proccea and using shareholders to fund the majority of it. That created a Co which had value which he could then in large part off-load and reward shareholders and directors via special dividends.

So here we are in Phase Two; Phase Two is perhaps a repeat of Phase One but this time self-funded and with more diversification. If that is the case we as shareholders have no strategic information, as far as I can see, what are the priorities, what are the expected timescales and what are the value expectations. This failure to confirm the Co's full modus operandi has meant shareholders are investing to a large degree blind.
We are largely back to being an Exploration and Development Co. which has all the inherent risks and unclear timescales.

Kiziltepe & hopefully Tavsan (both part owned @ 23.5%) will provide the life blood to pursue these objectives and could therefore provide incremental value. But the big ticker wealth creation should be coming from Hizarliyayla, Dalinbas and perhaps Project Leopard. But all of these are far from defined in any respect. Work programme, results, value/ size of opportunity, timing, long term plans etc.

A Gantt chart at the very least is the backbone to starting to articulate the strategy in a way that shareholders can understand and get excited about. But the Co's vision, the objectives and the strategies to achieve them need to be fully articulated. Normally a Broker can help with this and in earlier days Panmure Gordon set out detailed Analyst Notes, but that was long ago.

You can only hold the Board responsible for not being able to agree and articulate this.
The result is a share price floundering in no man's land with no direction. The Board need to accept they don't have the skills to manage a wealth creating Co.and extract the value that should be achievable.

The problem in my mind, is whilst they aren't meaningfully challenged by anyone (shareholders or other Board members etc.) and whilst self funded, they can drift along at their own speed, able to ignore everything around them, taking their time, enjoying the Exploration and Development work they love, with no milestones or KPI's drawing adequate recompense whilst shareholder's wake up and realise this isn't an investible Co.
It pains me to say the above and I hope it is all rubbish. If it is I want the Co. to explain what are the facts or bring in the skills that can do it.

[kaos3] 02/6/2023 12:07

soul - i do not get you. what part is disagreed. exactly

a public comapy can not publish info of their customers. even if they have minor investment in the customer. it does not matter

[soulsauce] 02/6/2023 11:39

Have to disagree on certain parts of your argument kaos as Ariana is a listed company, it may not want to be but is, and has a duty to shareholders in line with Aim rules. The other JV partners aren't.

[nov31] 02/6/2023 11:05

The 172k buy is mine.

[kaos3] 02/6/2023 11:03

after smelling some roses in the park -

1. did they get any news approved for publishing by the JV
2. did they got the news and do they sit on the news
3. can they demand such an info based on the JV agreement for the further publishing

until all above is 100 per cent confirmed/denied

complaining about hiz, tavsan, salinbas ... or the management not providing such news...

I think no one should do any complaining....

there is a huge difference between the info that AAU is in a posession as a JV supplier and the info contained in the news officially given and approved by the JV for further public publishing

strategy in motion imho

I strongly support the management in acting in a professional manner and in a responsible manner by not giving us the information they have .... if all is not in accordance with the JV agreement. If news flow is not sancioned by the JV contract - they should be very careful and they should seek approval each time they issue news regarding the JV relevant info.

[renniks2016] 02/6/2023 10:59

Some shine through in different ways, agree we are yet to see or understand their full merit, (hopefully) but that I my mind is more asset rich rather than personnel rich! Both a requirement though.

[thanksamillion] 02/6/2023 09:32

500k buy gone though-full ask, thanks professor

Nice one Rennicks

[soulsauce] 02/6/2023 09:28

What like the skill set at Venus Renniks ;-))

[renniks2016] 02/6/2023 09:27

Took some dry powder out. 500k @2.4 as and when, that is the lowest price I've paid to date!

[kaos3] 02/6/2023 09:25

soul - they will get news out to us as soon as they get them. they are not in driving seat where all happens.... how can you not see that. nothing to blame them. i am sure they are not sitting on the official news they officially got.

strategy consequences

are we paid in shares or cash for our services in the JV in Turkey. how much ... I asked many times...

which projects AAU superb team works on ... and how much do they get paid from certain 3rd party.

2 pies please
1. projects work commitment distribution
2. income from those commitments

[renniks2016] 02/6/2023 09:22

3rd partied all hand picked by board, so I don't have a problem with this, how long would it take to build a team with the experience and skill set of those third parties, all of which are using AAU tech and knowledge to progress their own projects, services paid for via share allotments, great way to build positions, best use of partnership cash etc. can't knock it.

[chinese investor] 02/6/2023 09:19

What's the time of my dental appointment !
2:30 (wot a coincidence) !!