Share Name Share Symbol Market Type Share ISIN Share Description
Ariana Resources Plc LSE:AAU London Ordinary Share GB00B085SD50 ORD 0.1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.05 1.69% 3.00 3,057,365 12:51:23
Bid Price Offer Price High Price Low Price Open Price
2.90 3.10 3.00 2.85 3.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 2.18 0.21 14.3 32
Last Trade Time Trade Type Trade Size Trade Price Currency
13:10:33 O 198,543 3.02 GBX

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Ariana Resources Daily Update: Ariana Resources Plc is listed in the Mining sector of the London Stock Exchange with ticker AAU. The last closing price for Ariana Resources was 2.95p.
Ariana Resources Plc has a 4 week average price of 1.90p and a 12 week average price of 1.90p.
The 1 year high share price is 3.65p while the 1 year low share price is currently 1.75p.
There are currently 1,059,677,937 shares in issue and the average daily traded volume is 3,674,734 shares. The market capitalisation of Ariana Resources Plc is £31,790,338.11.
bigglesbingham: Share prophets :: Numbers from Kiziltepe first: we knew the gold production numbers already but not the prices involved. The news was that 7,318 ounces of gold and 107,074 ounces of silver (as a by-product) were produced in Q4 with an average sale price of $1484 per ounce of gold. If you factor in the silver by-product, the average revenue per ounce of gold produced was $1736, against an operating cost of $500. Broadly speaking, that means Kiziltepe threw off just over $9 million in Q4 – around £7 million – from gold/silver production.By the end of Q4 the bank debt still due (to be paid off by April) was down to $4.1 million. On those numbers it is pretty clear there will be no problem seeing the bank off as scheduled and from then on, Kiziltepe will be a cash-cow and with gold having risen again to $1643 the numbers will be even stronger going forward. In theory, once all loans from JV partners Ariana and Proccea have been repaid the proceeds will be split 51-49% in favour of Ariana although the current corporate action discussions may well change all that. There were some other interesting tit-bits offered up: the mine-life (currently standing at 8 years) is due to be extended to 10 years if a further 40,000 ounces of gold can be upgraded from exisiting resources to reserves – which management says it is confident of achieving.Further, on the subject of increasing production at Kiziltepe, the company tells us that Tavsan is offering the opportunity to raise annual production from the current targeted 20,000 oz per year to 50,000 oz. Tavsan is sounding ever more certain.But right now the big question is will the proposed deal to sell off part of Kiziltepe and Salinbas to bring in a new JV partner get over the line. If it does, then Ariana's ownership will drop to 23.5% but exploration and construction at Salinbas will be catered for by the new partner and Ariana will suddenly have $30 million of cash in the bank and the company has indicated that a dividend will be offered.Late of Friday at no-one-is-watching o'clock (6.27pm) it was announced the chairman Michael de Villiers had shifted a third of a million shares from his personal holding into his SIPP (his overall holding being unchanged). Now one could argue that he was effectively bagging the tax break but there is another interpretation: that he doesn't want to pay income tax on dividends. The implication is therefore that the corporate action deal (which has been delayed to the end of March, if it is to go ahead) is seen as likely to go through – and that would mean a nice tasty dividend cheque later this year. In my piece on Ariana (AAU) of nine days ago it was pointed out in the comments section by Putneywill that perhaps the headline should have been AIM Company Board Tells Truth with regard to progress on the proposed corporate action. Now we have AIM Company releases 6.27pm RNS on Friday night which is not a Red Flag.We shall see what happens, but at the current share price of 3.45p Ariana's market capitalisation is now sitting at £37 million. For that we get half of Kiziltepe and all of Salinbas (with a bunch of bills to pay before seeing any prospect of production). If the deal all goes through we will have $30 million (around £23 million) and 23.5% of Kiziltepe and 23.5% of a fully funded Salinbas through to construction of a mine which could be throwing off 50,000 ounces a year, with someone else responsible for getting any bank loans to fund the construction.There are some who question the value of the proposed deal: on the face of it, Kiziltepe will be throwing off stack of cash but there will be exploration, construction costs (at Tavsan) and maintenance to pay for and so on. Put another way, Ariana would go from owning half of a 25,000 oz a year operation (so 12,500 oz gold) to 23.5% of 100,000 ounces with $30 million in the bank. I know which I would prefer – especially with Ariana's earn-in to copper-gold assets at Venus Minerals in Cyprus to look forward to.However you view it, the current share price in the climate of $1645 gold is not demanding and there is certainly speculative upside for the new investor. But having been shouting from the roof-tops to get in at prices as low at 1.1p, for those who have been in for the last three years it is time to top-slice: you haven't made any money until you sell and nobody has a crystal ball.The story is not over yet by any stretch of the imagination and I will be holding on to the majority of my shares as I look for 4p and then still more, but one does need to be sensible and not leave oneself overexposed to one relatively tiny AIM stock, however good and however honest and decent the management is.But it is hats off to head-honcho Kerim Sener and his team. Perhaps there is one final surprise headline to come: AIM Company to get Christmas Card from the Deputy Sheriff.
erro: Have been looking at Arianas share price history and note that in 2006 the share price was 16p and even in 2011 the share price was 6p. Would be interested to know whether anyone on this board have invested since those dates and what was the investment criteria underpinning those share prices at that time. I can’t see how the company could have developed any better operationally in the last few years. Just a bit of background understanding would help especially the 16p! Great company. I would hope for a substantial dividend but would expect they will only announce one when the financial are finalised in June / July providing the deal goes through and their future plans are outlined
temujiin: Hello again DJ, as mentioned I'm not implacably opposed to the proposed JV, but would like SH's to think hard about it in terms of what AAU are giving up as well as gaining, and whether in the medium and longer term this JV, reducing us to 23.5% across all it's operations in Turkey, is giving us best value for money. I need to be convinced that it is, and it's important the BoD and proposed JV partner don't assume SH's will rubber stamp a deal just for a short term fix. As for a share buy back, I like that when the share price is perceived to be too low, but don't want management to use that as a way to achieve share price rises to achieve their generous 'share options' strike price. I think share options should be bench marked taking into account of company market cap as well as share price, for a truer reflection of progress.
carcosa: AAU is still a very very small market cap company. Until it reaches the GBP100m mark + dividend it is unlikely that serious institutional investors will waste their time on such a small company. A few days ago I read that valid concern that any special dividend payment would see a corresponding drop in the share price. Certainly a feature of larger companies. In this case however I would hope that it's a tangible sign indicating a higher, more realistic valuation of the company so whilst there will be, to some degree, a pullback on the share price I would anticipate it would be relatively restrained and for a short period of time. However when (if) the MoU gets final agreement and announced to the wider world then it may induce some smaller private equity investor to take a closer look at the company; so my feeling is that by that stage it becomes more attractive to Institutional Investors and the GBP100m mark will not be that far away in 3-6 months time. Furthermore Panmure Gordon will hopefully be seen as promoting AAU far more seriously than before (at least to PI's eyes) which, having a top notch investment banking company on board, can only be seen as a good thing. Will be interesting to see their views post MoU agreement. Remember that Ariana Resources remains the only small-cap gold mining company that carries a Panmure Gordon ‘buy’ rating.
bigglesbingham: Big thing missing is in a normal world when cash is distributed the share price falls by an equivalent amount. HOWEVER AAU is receiving in excess of its market cap in cash so that shouldn't apply. My personal view is if or when the MOU becomes a signed deal the shares will be valued at around 4p to 4.5p. It will be announced that the cap ex debt is paid off in April and from announcement of the deal signing to cap ex repayment will see institutional interest and PG will come into their own resulting is share price of 5p only then (April May ) will the dividend be announced which will reduce the price to around 4.5p. However some will reinvest their dividend to buy shares which could well increase the price or at least offset profit taking. It's what I would do at least but I do believe from here the shareprice looks extremely cheap whichever way you look at it.
dearg doom: Ariana Resources managed to do two company presentations this week on Monday and today Thursday to presumably a select audience of existing or would-be investors. However, neither event seemingly generated sufficient excitement to drive forward the share price. Hence the backward share price slide. Solid enough support for the share price at 2.25p. Shares offered in size at 2.375p. Made multiple purchases between these two prices today. Have finally come to terms with the idea of de-risking the projects to benefit later from bigger potential gains in Salinbas area. Surprising, how few investors interested in averaging up. Very few buyers and even less sellers about. Very much yesterday's news story!
charles clore: I'd rather have a chuckle at the AAU share price but it seems to have got stuck somehow. You would think there would be punters all over it with this morning's drill results.
bigglesbingham: Just a number of points: I've taken part in fund raisings , each time the share price went below the fund raising price so all shareholders could have bought at below the price paid if they do desjred. They have more shares than most therefore why wouldn't they want the share price to go up? Thirdly if it was bought out then their lifestyle company as you put it would end so again the inventive is for them to increase share price. The board has been made fully aware of concerns about the sp/value disconnect and I've been assured they are fully aware and trying everything in their power to address it Charles. Believe me I want share price to take advantage of this Bull gold trend (or bear market as one poster likes to refer) just don't think your logic holds.
charles clore: Cinoib - I think the AAU share price is only partially reactive to the price of gold but others with higher production will probably respond more strongly. However, those who choose to ignore AAU's excellent cost ratios and concentrate solely on ounces produced are, imho, missing a trick here.
rhuvaal2: The AAU share price should be higher but I am one who still remembers the Board giving themselves a load of free shares a year or so ago. After trading I am lucky to have a million @ 0.8p cost and just don't feel like buying more. I have seven goldies in my basket and a couple of those pay good dividends...
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