Ariana Resources Share Discussion Threads

[charles clore] 26/3/2024 10:01

Looks like a positive day for Ariana but not so if you take notice of soulsauce who, as usual, has to cast a shadow on it. Not that I'm complaining of course. I'm sure there will be plenty of happy times ahead for the rest of us.

[dixi] 26/3/2024 10:00

Agreed Shortarm, the more deeply I read the more perplexed I become. It's making no sense to me. Just some plain English, stating facts in a clear and concise way would help. Being at odds with the WHI note really doesn't help matters.

[soulsauce] 26/3/2024 09:59

Hopefully the company will give greater clarification in the production guidance (hence it being so late), or may be that will leave us just as confused too.

[shortarm] 26/3/2024 09:55

Deffo needs some form of clarification as we should not be relying on Notes to understand company communication!

[shortarm] 26/3/2024 09:54

I think badly worded as usual, i took the extracts from todays WH Ireland note

[dixi] 26/3/2024 09:52

They say that they have formally combined both operations (due to trucking) with an expected 25k per annum combined production. How do you read that Shortarm? Is it badly worded or is that now as stated as of today?

[shortarm] 26/3/2024 09:44

25k plus approximately 30k is 55k per annum (source WHI note). 1400 per Oz profit would be over 18 million to AAU!Laughable :-D

[soulsauce] 26/3/2024 09:44

My issue is that not enough was done with the deal money to replace the production we gave away.

[bigglesbingham] 26/3/2024 09:37

I've no issues atall with the deal as I've said many times I feel the risk of Turkish gov reducing foreign ownership to sub 50% or sub 25% was and still is real and our JV decision eliminated the risk. I would have liked a more realistic combined production figure of 40 -45koz for reduced minelife with longer life to come as resource turned into reserves. However resource is stated 483. Feasibility on tarsvan alone stated 30k oz and trucking from satellites to kiz at least 10-15 oz.

[shortarm] 26/3/2024 09:32

This is in the same note released today:
At Tavsan a recently completed 10,000m drill programme has increased confidence significantly in the Measured resource as Zenit moves to complete its mine planning schedule to produce ~30koz gold/yr.

[shortarm] 26/3/2024 09:31

This is from the JUST release WH Ireland note:
The Kiziltepe plant capacity is 400kt/yr to produce ~25koz gold equivalent.

[soulsauce] 26/3/2024 09:30

I think production will be higher once the heap leach for Tavsan is taken in to account Lotts but as ever each AAU Rns leaves more questions.

[jaynesdad] 26/3/2024 09:29

I don't want to make much comment because, as someone has already said, there are as many questions as answers. However I think it is pretty safe to say only the highest grades will be trucked from Tavsan to the Kiziltepe plant Not only does it utilise the capacity there but, as I understand it, the recovery rate will be greater than the leach. Plus minimizing the leaching process has got to win brownie points on ecological grounds so whether trucking increases costs is maybe more complex?

[lottsgold] 26/3/2024 09:22

Quite disappointed with the figures stated here...lower production higher costs with the trucking?

[dixi] 26/3/2024 09:10

From Jan 2023:"Kiziltepe produced a record total of 28,421 ounces of gold during the year, exceeding its full-year production guidance by c.14%, following record mill throughput of well over 400,000 tpa."I would like to think 2 x mines in production can eclipse that figure, or what's the point?

[soulsauce] 26/3/2024 09:09

The main question is why have they reverted to the plan of trucking ore to Kiz' and I assume the answer will probably be because of the increase in grade and recognised gold price, however that does nothing for their ESG credentials and will almost certainly raise the AISC for gold produced.
How many trucks per day, week, month?

I am assuming the 25k oz p/a is from Kiz' alone and any gold produced through heap leach at Tavsan will be on top? Be nice to get that clarified in the guidance.

What it does show is what a bad deal we voted for given the uplift in resource and length of mine, which will probably be well over 10yrs eventually. Apart from the piecemeal divi we don't seem to have seen an awful lot for what we gave away :-/

[bigglesbingham] 26/3/2024 09:06

Sorry yea I was reading resource as reserve. Bottom line is you'd expect the 483 resource to expand with extra drilling and the bulk of that resource to become reserves. That's a very conservative rns but sticks to the facts , just shows a huge amount to come with current 483 resource. We will be seeing 40 k oz outputting in next couple years I've no doubt.

[plasybryn] 26/3/2024 09:03

25,000 ounces per annum? "Accordingly, we expect up to ten years of further production across the combined operations, continuing to produce at a nominal rate of 25,000 ounces per annum. Further work is underway to optimise the mining and processing rate and in the design of pits and mining schedules. These remain a work in progress as we await additional assay results from Tavsan following the completion of the recent drilling programme"

[thanksamillion] 26/3/2024 09:02

So Mr Market says we worth 3x earnings?

[dixi] 26/3/2024 08:53

"Our interim Reserves stand at 249,000oz of gold and 1.67 million ounces of silver - representing a >50% conversion of Reserves from Resources, an excellent outcome. Accordingly, we expect up to ten years of further production across the combined operations, continuing to produce at a nominal rate of 25,000 ounces per annum."

[bigglesbingham] 26/3/2024 08:46

I've sent email to the board asking for a little clarification because the figures of 483 oz reserves and ten year minelife at 25 oz seem a little conservative even for Kerim.

[thanksamillion] 26/3/2024 08:34

V rough calc seems to indicate $7.2+m p.a. profit for Ariana, by all means correct me, I need to know the truth here.

[xow98] 26/3/2024 08:28

So what is the production guidance for 2024 and when does Tavsan kick in?

[backmarker] 26/3/2024 08:03

The main question is: is this worth a mini-whoosh ?

[xow98] 26/3/2024 08:03

Ariana Resources plc
@ArianaResources

>50% conversion of Reserves from Resources : Ariana Resources 2024 resource and reserve update.