Ariana Resources Share Discussion Threads

[dixi] 29/9/2023 11:43

Add to that PP, I do not think the results are shocking at all, but need some clarification here and there. Understanding how this works with Zenit funding Tavsan, there are no 'shocks' here.

[dixi] 29/9/2023 11:40

Read that Shortarm, but I'm curious to understand why/how they acquired the bullion.

[dixi] 29/9/2023 11:39

PP - hurry up then!

[shortarm] 29/9/2023 11:38

Excellent work, I think you got the lowest price of the day!All the fellas that arrived when you did night leave us in peace now, good luck wherever you put your remaining funds.

[professor pettigrew] 29/9/2023 11:33

Shocking results.

That's me getting out - 2m plus to get rid of, halfway through now.

Can see these going sub 2p.

Kerim - you are a big disappointment.

[shortarm] 29/9/2023 11:31

Gold Bullio - Note (3) in accounts.
3. Administrative costs and other gains
During the period, exchange gains on holding US Dollars are disclosed within the charge for administrative
costs.
Gold bullion acquired during the period is included under current assets at its market valuation. Any
resulting gain or loss on revaluation is recognised through the profit or loss in the statement of
comprehensive income.

[renniks2016] 29/9/2023 11:19

If you build a mine with no debt, then money has to come from somewhere, but yes confirmation of who's contributing what and where the budget program is, would be good to see. watch out for a tree shake, but no news here to warrant any selling, go careful out there. Now where did I put my co-op saving book? might have to raid the piggy bank.

[dixi] 29/9/2023 11:17

I'd wager that for some reason we bought gold bullion, rest has gone on working capital. Our income from Zenit is greatly reduced (some £2m) as they are self-funding Tavsan. Tavsan has no loans or borrowings far as I am aware. Therefore once Tavsan comes online we will receive greater dividends from Zenit at the outset. Somewhat redressing the balance.

[thanksamillion] 29/9/2023 11:11

Yes JD, I think an explanation is required on the reduction in cash.

I don't doubt it has been put to good use, but it is glaringly obvious that shareholders should be informed on the detail.

Perhaps in the next video link.

[renniks2016] 29/9/2023 11:09

As ever, Ariana has shown itself to be ahead of the curve, having established its own accelerator fund, in the form of Asgard Metals, a year ahead of this much-needed initiative by BHP. Our activities in this area have been undertaken in the background compared to our other projects, but significant effort has been placed into this division of the business, largely going underneath the radar. The team is currently working on a potential project which has the capacity to become a significant opportunity for the Company, for which details will be provided as soon as we are able. Cool!

[dixi] 29/9/2023 11:06

I think Kerim need to do one of his videos!

[thanksamillion] 29/9/2023 11:03

Company's focus is on a 50p future share price valuation when the plan matures.... several years away, consequences meanwhile is incidental to them but we have always known that.

[jaynesdad] 29/9/2023 11:01

dixi
That is a very good point about the gold - we are a junior partner in a JV so don't ourselves hold gold, so how is it attributable to us unless we have either bought it as an investment or been paid by it for exploration expenditure incurred by AAU on JV assets? Cash and gold together total c. £6m. There has been no drain on the cash position through dividends so how is that reconciled?
is it nay age or am I just confused.com?

[charles clore] 29/9/2023 10:51

I'm beginning to feel the buying bug again ....

[dixi] 29/9/2023 10:45

Xow - So were has the cash gone? Working capital? The gold bullion, where has that come from? We don't have bullion reserves here as we don't technically mine the stuff, Zenit do that? Have we bought the gold for cash?

[dixi] 29/9/2023 10:41

The reduction in cash is going to weigh heavily here until fully understood. As it stands a whole chunk for, potentially, a premium asset appears to have gone somewhere.

[xow98] 29/9/2023 10:39

June Investor Meet

Q33: From share price Angel Brokers - 9th June 2023 “Turkey – Currency collapses further as sellers compete for increasingly scarce foreign exchange reserves The Turkish Lira has collapsed 13% this week, 20% over the past month and 37% over the past year. “ To what extent is the Co exposed? What is the Co doing to mitigate against these risks? What is the Co doing to reduce the annual sizeable currency losses?

As stated previously, we do not hold Turkish Lira except in our current accounts, in order to pay wages etc. in Turkey. We otherwise hold in currencies GBP, USD, AUD and Euro in decreasing order of significance.

[xow98] 29/9/2023 10:35

June Investor Meet

Q2: What, if anything, is happening in Cyprus? Is Apliki now abandoned despite money having been spent there?

Through Venus Minerals we have a good relationship with the Iacovou Group, the owners of the Apliki mine site. We remain in dialogue with them and are looking to re-engage on Apliki as soon as we have more clarity on the funding options available to Venus. While the past year has been difficult in the market, we are continuing our investigation of a number of potential routes forward on the funding of Cyprus more broadly and Apliki in particular.

[xow98] 29/9/2023 10:31

They have historically said they held the cash in USD, so shouldn't be that.

[charles clore] 29/9/2023 10:31

I can only see these shares becoming more affordable in the short term.

[dixi] 29/9/2023 10:21

To the accountants amongst us it will no doubt be all in the report.

[soulsauce] 29/9/2023 10:19

Whatever dixi I think it needs some explanation.

[dixi] 29/9/2023 10:18

But outside of Turkey it buys a whole lot less!!

[dixi] 29/9/2023 10:18

Is it the foreign exchange situation. As I understood it the cash was resident in Turkey? So has massively devalued? Not sure if that is the case?