Ariana Resources Share Discussion Threads

[soulsauce] 26/6/2020 13:45

Well said pharmout.

[charles clore] 26/6/2020 13:33

Thanks and Kiev's. It is time for the long awaited facts to be revealed.

[kirbs4] 26/6/2020 13:27

I agree. I actually felt that was due at the end of April but was shot down to some extent.

[thanksamillion] 26/6/2020 12:54

From the RNS now over 7 months ago.

"Summary of Transaction

The MoU contemplates the disposal of various interests to the Proposed Partner, including 17% of the Salinbas Project for US$5 million and jointly with Proccea, 53% of Zenit for US$50 million (to be split equally by Ariana and Proccea). Furthermore, the Proposed Partner will then inject US$8 million of equity into the Salinbas Project via an earn-in arrangement and organise the bank finance to enable this project to be brought into production. The proposed joint venture would be subject inter alia to due diligence, entering into binding agreements and shareholder approval, no later than the end of February 2020. "

Whatever explanations have been put forward for the delay, now must be the time to re-appraise just where the company is on this. I believe we are now overdue a statement that is more than just "The DD has been extended for another 3 months".

"no later than the end of February", so "something" has changed in a big way and investors need to know what.

[sonoftherock] 26/6/2020 12:51

Yay! I got a thumbs down. ?

[dixi] 26/6/2020 11:38

8rad, never heard of them. My nickname on here is derived from Richard, not the Deep South of the USA. Any similarity is purely coincidental.

[crossfirecssf] 26/6/2020 11:13

Hear, hear. Best wishes CC.

[soulsauce] 26/6/2020 10:50

Sorry to hear about your stroke CC, hope you are ok.

[charles clore] 26/6/2020 10:46

this is not a minnow its a successful producer in its ownright making a decent profit. if the deal doesnt go ahead i am willing to bet there will be plenty of other interest in the salinbas standalone project wholly owned by AAu

[lottsgold] 26/6/2020 10:45

Encouraged that there aren't sales going through in expectation of an extension. We've just got to have balls of steel and know we own a company moving up whatever happens. Easier said than done though!

[sonoftherock] 26/6/2020 10:38

Sorry Plas, but I don't see how you can say this based on the currently very limited public information. In my work and investing experience when a big fish negotiates with a minnow then delays almost always come from the big fish.Yes lawyers can be very picky and cause delays, but they have no need to meet face to face. So delays of days, maybe a few weeks, yes but several months to half a year? Unfortunately I have been involved in a couple of comparable situations where repeated delays by the big fish eventually led to no deal. In those cases it turned out badly for the minnow. I also believe that AAU is in a relatively strong position, despite being small, but I would feel more comfortable if some kind of conclusion could be reached within the stated timeframe, or at least a more full explanation of the situation is given to us punters.Just my viewpoint.

[charles clore] 26/6/2020 10:25

on the other hand with goodfinal results and continuing gold strength the price could jump by 50%. Looks to me as if the next leg up is imminent following a nice period of consolidadtion.

[thanksamillion] 26/6/2020 10:04

The thing is here, in the absence of another RNS detailing recent drilling results....and I ar'nt expecting one for a few weeks, allowing for the analysis tasks, the market will get bored and the current positive chart formation may break down. "Down" being the operative word.

[plasybryn] 26/6/2020 09:39

I think Biggles has got it about right, in that all parties are happy with each, and with the deal in broad principal. More importantly unlike the shareholders they are unfazed by the constant slippage which has most likely been caused by restrictions associated with Covid-19. They probably know it will proceed in due course but see no point in trying to conclude the final documentation in these restrictive times.
In the meantime life goes on as normal.

[8rad] 26/6/2020 09:32

Certainly does. And I am sure that you are sorry to here the Dixi Chicks have changed their name.

[dixi] 26/6/2020 09:24

JAF1948 - AAU is a good company agreed, but those that are here for an share price enhancing deal and a potential bonus divi may be disappointed if it does not happen and sell up. The share price is therefore going to be impacted and AAU no doubt tarnished in the process. It could take a while to recover and cast some doubt on AAU's ability to progress some of their assets. If the negotiations are being a bit Brexit as you suggest and AAU cave-in to the darker side then they still have to secure our approval. Feels like AAU roulette at the moment.

[jaf1948] 26/6/2020 08:57

Apologies. Aurora is the ship I should be on now if the cruise hadn’t been cancelled.

However, Ariana is a good,successful and profitable company whatever the outcome.

[1candc] 26/6/2020 08:53

Aurora? Predictive text phopar?

[shortarm] 26/6/2020 08:43

Unprecedented times these.......!

[jaf1948] 26/6/2020 08:40

As much as I dislike lawyers, I do not accept the lawyers theory for the delay. If both sides wanted this enough, as thanksamillion hinted, then the deal would have been done by now.

My own feeling is that at least one of the parties, or possibly both, are not happy with the deal and as with the Brexit talks, they don't want to be seen to be the ones to walk out.

However, Aurora is a good,successful and profitable company whatever the outcome.

[mad foetus] 26/6/2020 08:36

I was a lawyer and I've never heard of lawyers delaying transactions. Documents get signed when both parties are ready, not when the lawyers say so.

[thanksamillion] 26/6/2020 08:32

I arose this am thinking "well if no deal today then another extension is inevitable. The implication of that event, to me at any rate, is that regardless of all the excuses that may be relevant, this possible new partner is no go-getter".

I see sonoftherock got there first, but no harm in repeating this sentiment.

From what we have seen so far I am now wondering just how quickly the JV would develop Salinbas. Maybe in the end AAU and Procea would do better on their own.

Unhappy bunny.

[actonovator] 26/6/2020 08:09

Biggles, where did they meet these lawyers? the local beer hall? Perhaps they should investigate the idea of long-term, regular, trusted company lawyers.

But I'm sure you're right.