Ariana Resources Share Discussion Threads

[bigglesbingham] 09/7/2020 09:55

What you up to now you must have shed loads

[risa5] 09/7/2020 09:54

Ariana Resources says second quarter production at Kiziltepe topped expectations

The second quarter, of course, was when the coronavirus pandemic began to take hold but even so, half-year output was still within the guidance range

Ariana Resources PLC said gold production at the Kiziltepe Mine in Turkey in the three months to the end of June was higher than anticipated.

Kiziltepe, which is part of the Red Rabbit 50/50 joint venture with Proccea Construction, produced 4,679 ounces, down from 5,129 ounces but in line with guidance issued for the half-year.

Total ore processed in the quarter was 54,862 tonnes at an average head grade of 3.02 grams per tonne (g/t). Quarterly open-pit ore mined was 77,179 tonnes, at an average mined grade of 2.79 g/t gold, and total material movement for the quarter was 973,603 tonnes.

"The second quarter of 2020 again witnessed better than planned rates of production, despite corresponding with the global onset of COVID-19. Material movements from the pits were maintained at very high rates, while ore production also continued at near-record levels,” Kerim Sener, the managing director of Ariana said in a statement.

“The mill also performed at some of the highest monthly rates ever recorded, reaching an annualised rate of almost 220,000 tonnes per annum which represents an increase of over 45% above the feasibility designed rate.

"Production from our highest-grade pit, Arzu South, is as planned now drawing to a close with production shortly to be focused entirely on the Arzu North and Derya pits. In addition, the mine has continued to maintain a stockpile of well over 130,000 tonnes of ore at a grade of approximately 2.5 g/t gold, sufficient to cover at least eight months of mill feed,” he added.
PI

[soulsauce] 09/7/2020 09:15

Heyup Charles, are you still in EUA? (sorry for off topic)

[renniks2016] 09/7/2020 09:12

Another 130k in the bag :)

[crossfirecssf] 09/7/2020 09:00

Kerim’s not had his lack of battles to fight. Successfuly bringing a mine into production during the biggest bear market in pm shares in decades, in the midst of the ‘great recession’,...austerity,... you name it.

Now meeting production expectations during the greatest economic contraction in 2-300 years. Aside from a couple of dubious past dilutionary placings, he and his company have put not a foot wrong and deserve a standing ovation.

[1candc] 09/7/2020 08:54

Very good results in the circumstances, plus that stockpile is getting more valuable by the day. No matter the genuine debate re the JV here that deal is baked in and nothing voiced here will change that. KS and the rest of the board are large stock holders, I doubt if they would agree something that would sell themselves short.

[plasybryn] 09/7/2020 08:51

James Turk :-The next key breakout to watch for is #silver hurdling $19, which will be a rocket launch for silver into the $20s while gold heads into $1900+ all-time highs.

[pauliewonder] 09/7/2020 08:49

Bought some more this morning, not yet showing. Happy to add at these levels.

[lottsgold] 09/7/2020 08:42

How can results of circa 10million a year profit be seen as negative! Maybe people only understand financials rather than working it out for themselves?!

[renniks2016] 09/7/2020 08:20

I can't buy any decent amount less than 4.075 so it isn't staying negative today imho.

[d1g3y] 09/7/2020 08:12

I will take them lol

[soulsauce] 09/7/2020 08:10

Don't forget we still have last quarters silver production to add in to the sales this quarter.

[bigglesbingham] 09/7/2020 08:04

Mms and their games eh !!

[charles clore] 09/7/2020 07:56

I hope that's not real

[jaf1948] 09/7/2020 07:50

One of the MMs are showing 3.25p on the bid !

[8rad] 09/7/2020 07:39

Talking of the stockpile, does the new partner assume 53% ownership of such on deal completion.... that can't be right can it?

[bigglesbingham] 09/7/2020 07:35

Really during the worst period of industrial output for centuries? Are you having a laugh?

[plasybryn] 09/7/2020 07:32

One heck of a stockpile. I think we need a second Ball mill?

[temujiin] 09/7/2020 07:19

pranchalee
Figures disappointing
===============

They are in line with predictions Pranchalee so are ok imo.

[temujiin] 09/7/2020 07:17

+ (real life) - will there be any troubles if AAU does not JV with "the chosen one". could be very so - but can not be said
=========

Good post Kaos3,

the above had occurred to me as well, as in AAU/Proccea being told 'do this deal or things might get difficult'. That might explain the enthusiasm of Kerim for the deal, which looking at the maths, looks a poor deal for AAU SH's.

But that would be totally a conspiracy theory with no evidence, and be similar to SS's view of 'blind faith' in Kerim's sunlit uplands future deal.

[renniks2016] 09/7/2020 07:17

Given the current situation and this is a quarter entirely in lockdown, I think this is remarkable, hats off to each and everyone of the team who’s boots are on the ground in Turkey, fantastic job, no doubt a few here will say this is nothing more than expected, but spare a thought for all those families who have members working, and tirelessly by the sound of it, through these times.

[pranchalee] 09/7/2020 07:13

Figures disappointing

[temujiin] 09/7/2020 07:02

Q2 2020 PRELIMINARY PRODUCTION RESULTS

Ariana Resources plc ("Ariana" or "the Company"), the AIM-listed exploration and development company operating in Europe, is pleased to announce its preliminary production results for the quarter ended 30 June 2020 for the Kiziltepe Mine ("Kiziltepe" or "the Project") in Turkey. Kiziltepe is part of the Red Rabbit Joint Venture ("JV") with Proccea Construction Co. and is 50% owned by Ariana through its shareholding in Zenit Madencilik San. ve Tic. A.S. ("Zenit").

Second Quarter Preliminary Production Results*:

-- Gold production for the quarter was 4,679 ounces (Q1 2020: 5,129 ounces)*, meeting half-year annual guidance.

-- Total ore processed for the quarter was 54,862 tonnes (Q4 2019: 53,840 tonnes) at an average head grade to the plant of 3.02 g/t gold.

-- Quarterly open-pit ore mined was 77,179 tonnes, at an average mined grade of 2.79 g/t gold, and total material movement for the quarter was 973,603 tonnes.

-- Average metallurgical recovery of gold for the quarter remains high at 91.8%.
* All figures are given gross with respect to the JV.

Dr. Kerim Sener, Managing Director, commented:

"The second quarter of 2020 again witnessed better than planned rates of production, despite corresponding with the global onset of COVID-19. Material movements from the pits were maintained at very high rates, while ore production also continued at near record levels. The mill also performed at some of the highest monthly rates ever recorded, reaching an annualised rate of almost 220,000 tonnes per annum which represents an increase of over 45% above the feasibility designed rate.

"Production from our highest-grade pit, Arzu South, is as planned now drawing to a close with production shortly to be focused entirely on the Arzu North and Derya pits. In addition, the mine has continued to maintain a stockpile of well over 130,000 tonnes of ore at a grade of approximately 2.5 g/t gold, sufficient to cover at least eight months of mill feed.

"As I expressed in my statement last quarter, we would like to again thank our joint venture team for their commendable efforts during a very uncertain time. I recognise that it has been a difficult period for everyone on the team but, despite the circumstances, the teamwork displayed was extraordinary and we were even able to effectively and safely conclude a significant drilling programme on Arzu South with our drilling contractors. We again wish all those involved in the Company's success, and their families, well during what continues to be an unsettling period."

[kaos3] 09/7/2020 06:53

AAU downside is assured (no major downside risk) - we all agree

it is about possible upside. In math terms Tem imho is right. Unknow to me is:

+ (real life) - will there be any troubles if AAU does not JV with "the chosen one". could be very so - but can not be said
+ is there a final time span in which JV has to get to an operating mine (there is no assurance) - what are the "what if" JV clauses to protect us after "surrender". I as well do not trust anyone anymore blindly.
+ is Kerims job with AAU Turkey done more or less - he is best at finding not developing and producing - putting Turkey on autopilot
+ where the cash received is going to be invested - this is huge and we are not told exactly (he does know in app proportions what his intentions are atm)
+ will there be any further cash calls on AAU Turkey possible and probable?

I am not told enough info to get to an informed opinion or even decision. I am not even clear on the JV voting possibilities. What bothers me is the silence of the board - is it Kerims show only?

But this waiting is despite CV19 a sign of weakness imho.

rant over