Ariana Resources Share Discussion Threads

[jaf1948] 17/1/2024 12:08

Of course there will always be delays in mining, but it is the management's job to mitigate them.

'So let's sell off some of the profitable parts of the company reducing our income, get tens of millions of dollars for doing so, then give half of it away and find there isn't enough left.'

Is that a fair summary ?

[thanksamillion] 17/1/2024 12:07

Hoping todays news on Tavsan is a "get all the bad news out of the way" exercise.

Was going to say "I suspect" but afraid guidance from the company isnt that great lately.

[soulsauce] 17/1/2024 11:58

To be fair the production update was OK and what we expected.
What has done the damage is the further delay to Tavsan, the fact they have been spinning it out to fund from Zenit takings which likely means AAU have had little or no income this year thus a further dwindling cash position and income from Tavsan this year is likely going to be negligible.
The frustration continues.

[xow98] 17/1/2024 11:52

Negative up vote for that one

[soulsauce] 17/1/2024 11:43

ANOTHER buying op 🤣

[dixi] 17/1/2024 11:12

This is going to need a huge price reversal later in the year, or everyone will be trying to predict the return date for 2p! If Tavsan does not do the job on share price I'm not sure what will.

[soulsauce] 17/1/2024 10:23

Yes trevor they can't start heap leaching until the pads are sorted then it is a case of stacking the ore up and starting the process. I am not sure how long it takes to get 100% of producible gold from the ore but some gold will start to leach out in pretty short order once saturated.

[trevor1234] 17/1/2024 10:10

What is the timeframe to get gold from heap leach ?
How does it work?
Because Kerim says mining has started, does that mean they are just digging ore out the ground and stockpiling it ?

[soulsauce] 17/1/2024 10:02

Exactly xow, I can only assume that Q2 was always a very tenuous Q2. Let's hope Q3 is met.
You see this is what has put so many people off AAU over the years. I thought all that was behind us.
We are never given definite plans or Gantt charts for a reason.

[xow98] 17/1/2024 09:53

3 weeks since the previous RNS stated Q2. Now Q3, hardly seems down to bad weather. Didn't say early Q3 either.

[shortarm] 17/1/2024 09:36

Unusually bad, fifty years, don't be - Never mind, we are where we are.

[soulsauce] 17/1/2024 09:33

Bad weather in winter, sheesh glad I was sitting down for that one :-/

[shortarm] 17/1/2024 09:31

Coldest year in the last 50 where I am, they should have known that though! - right?

[xow98] 17/1/2024 09:25

It snows most years

[shortarm] 17/1/2024 09:24

It snowed a lot, currently -32 where I am!

[xow98] 17/1/2024 09:21

I can't see anything positive about this RNS other than potential exptension to Kiziltepe. The 21st December RNS still said first production at Tavsan to be in Q2, so what has changed?

[5huu] 17/1/2024 09:11

Sometimes delays and slippage can be your friend from a cash-flow perspective. Particularly if the funding is being generated from another asset.

[shortarm] 17/1/2024 09:04

Or sold something?

[soulsauce] 17/1/2024 09:00

The slippage is annoying but good in the long run that we are doing it without debt. However we had a 3month stoppage last year so if that had not happened how would we have covered the shortfall or would it have been strung out such that we would still have been mining in Q3 without the stoppage - hmmm.

Looking like there will not be a significant amount of gold added from Tavsan in '24 now and I don't see a dividend until after a full year of production so '26 unless by then Kerim has decided to spend excess cash on something else.

[5huu] 17/1/2024 08:56

Prudence Shortarm? What international company would ever raise debt finance in Turkey?

[kaos3] 17/1/2024 08:55

not necessarly true imho

if inflation is higher /which usually is/ that is a very good and profitable business

why oh why they did not raise debt at 25 pc fixed

[xow98] 17/1/2024 08:54

Don't have to borrow in Turkey, surely can get a USD denominated loan at "Western" rates given our gold is sold in USD.

[shortarm] 17/1/2024 08:48

Seems extremely prudent not to borrow money with 60 percent interest/inflation?

[5huu] 17/1/2024 08:41

It might be a jump to assume they are saying that Plas, but I totally agree, a little more colour on cash flow would clarify everything.

[jaynesdad] 17/1/2024 08:39

Well I think anyone predicting over 4p this year will be disappointed unless there is some unexpected news or $3k gold!
Its just delays rather than anything worse, Another sideways year in prospect?