Mariana Share Discussion Threads

[gersemi] 26/9/2016 20:02

seemore

That's simply wrong: As you can see below your assertion that Lidya are not on the same timescale is incorrect



Mariana and Lidya Signed a Comprehensive Agreement
26-01-2016

This news belongs to

Mariana Resources and Lidya Madencilik signed a comprehensive agreement for Hot Maden Gold – Copper Project. The agreement consists of these major topics:

The agreement formalises Mariana’s JV relationship with Lidya within the JV company Artmin Madencilik to further explore and develop the potential of Hot Maden.

The agreement governs Mariana's 30% and Lidya’s 70% interest in the project, managed by a four‐member Board comprising three directors from Lidya and one from Mariana.

2016 total budget of circa US$8 million dollars is proposed for the Hot Maden project.

Mariana anticipates that 20,000m of extension and infill drilling will be completed in the resource area during 2016, with a minimum of 5,000m completed during Q1.

A Preliminary Economic Assessment on Hot Maden is anticipated to be completed by Q4 2016

[pr0t0n] 26/9/2016 19:59

Seemore,

I know this company well but I don`t have all the answers.

1. PEA is paid by MARL, will cost them $100k, see here 1.3



2. PFS is paid on 30/70 basis.

3. My understanding is that PFS is already in motion , but as you know
takes a very long time.

4. BFS, I`ve no idea, that would be way down the line.

5. My speculation:
Maybe they were advised by their large shareholders to get PEA out.
Remember there are 20+ million warrants, so maybe that was part of the deal.
They will need cash at some point to carry on drilling at south zone.
Most likely scenario is the sale of their 30%.
I mentioned AlacerGold few times, already have few JV`s with Lidya.
Maybe even Eldorado Gold who operates also in Turkey, just sold Chinese mine for $300 million, and 2 more mines to sell for similar amount.
Sandstorm as the largest shareholder may have other ideas.

[seemore] 26/9/2016 18:52

Hi pr0t0n,

As you have been following Mariana closely for some time, I hope that you will be able to shed light on the points raised below. TIA.

In the presentation at Denver, thanks for the link btw, Eric Roth asserts that Lidya is equally keen to advance the Hot Maden project to production quickly.

I have done an amount of DD and can find no public evidence that Lidya share this approach.

There is certainly evidence of Mariana’s desire. The N143-101 was done within 3 months of start and the PEA is promised within 4 months of start. And then a PFS to be completed by mid 2017. Both paid for fully by Mariana, afaics.

A number of points do not quite stack up.

1. It seems odd to have the junior partner carrying out and paying for the PEA and PFS with no visible support from the senior partner.

2. Although Roth refers to envivronmental studies starting when the PFS is complete, there is no mention of a BFS

3. The PFS is being undertaken on the current N143-101 resource, but there is continued drilling in 2016 and 2017, which will do, I guess, twice the metres included in the resource. And Glenn Parsons, at Beaver Creek, IIRC, said he expects the resource to double. Roth, at Denver, said there would be a resource update, reflecting 2016 drilling, in early 2017, which would not be in the PFS but could be used to modify subsequently.

It seems most likely to me that Lidya are on a much slower timescale to production than Mariana and are planning to start the development process in 2018, at the earliest, using the resource confirmed at the end of 2017 drilling. This would be a big company / deep pockets approach, though the pace of drilling (2 drills?) can hardly be described as aggressive.

I can think of two possible explanations for what Mariana is doing :

1. They want to get an economic value on the asset, even if it reflects only part of the mineralisation, as soon as possible with a view to selling their share of the project and using the proceeds to fund exploration at their other assets.

2. They hope that by having done a PEA and PFS in parallel with the drilling, both parties can start a BFS in early 2018 on the then current (6m oz?) resource and that this can be completed quicker and cheaper as a result of the preliminary work already done.

Looking forward to benefitting from your insight. Thanks again.

[dilbert dogbreadth] 26/9/2016 16:03

thats broken out now.

[wisteria2] 26/9/2016 12:56

HA HA, catch up time for marl on aim! gla holders

[mr roper] 26/9/2016 12:28

looks like it's woken up...

[jbilt2004] 26/9/2016 12:23

Anyone going to see Mariana at the PR presentation? hTTP://www.eventbrite.co.uk/e/investor-evening-with-mariana-resources-lonmarl-and-beowulf-mining-lonbem-tickets-27600270151

[plasybryn] 26/9/2016 09:47

Surprise investors aren't getting excited;
Just listen to this 2 minute webcast.

hxxp://www.b-tv.com/rick-rule-mariana-309/

[plasybryn] 26/9/2016 09:44

Been consolidating since July. Must be getting ready for the next strong move north.
Overdue drill results or the PEA?

[pr0t0n] 24/9/2016 14:59

Short highlights from Eric`s presentation:

Funding good for 12-18 months , including warrants
$6 million in treusury at the moment..
PEA by the end of October
PFS by middle of 2017.
13,000 meters already drilled this year at Hot Maden.
20,000 meters planed next year, included in a budget.
Early next year resource update
Ergama : drilling next month , porphyry target
Lot more activity in Argentina

[barrywhit] 24/9/2016 11:03

Cheers pr0t0n,

Very fluent and confident presentation, all sounds good.......

[plasybryn] 24/9/2016 10:05

Gold at $2000-5000...Fri 18:29
In the first 2 minutes of the Canadian Business TV (BTV)
hxxp://www.b-tv.com/btv-ep-309/
Rob McEwan, former CEO of GoldCorp makes the case for gold at $2000 per oz by the end of this year, and $5000 in 3-4 years.

[plasybryn] 24/9/2016 09:16

It is always immensely useful to have outside objective views on the company's prospects. Rick Rule summarised Hot Maden as follows (verbatim): "Mariana had the very good fortune to acquire a project in northern Turkey; they acquired a very good private Turkish partner; they made a truly spectacular volcanogenic massive sulphide discovery last year; the grades are as good as anything we have seen come out of drill holes in the last 10 years."Great stuff. And as Samroy noted already, at the end of this short interview, Glenn Parsons refers to the potential of DOUBLING their 3.9 Moz resource estimate over the coming years...

[wisteria2] 24/9/2016 09:00

TSXV mariana has increased by 5 percent in the last 2 days! compared with next to nothing on aim! does this mean a rise is due on aim listings or a fall back on tsxv!
so how does the correlation between the two work! which one is the stronger... gla holders

[pr0t0n] 23/9/2016 21:18

Explorer & Developer Forum presented by The Denver Gold Group, Inc. on behalf the world's precious metal producers
Mariana Resources Ltd.
Eric Roth, COO

[pr0t0n] 22/9/2016 21:18

Busy day on TSX.

[pr0t0n] 22/9/2016 17:19

Plasy,
Its bit of gray area....
Let`s say they decided to drill 4000 meters then send all to lab at once.
That could probably take a while to process and assay...

[plasybryn] 22/9/2016 17:06

pr0t0n: Aren't they required to RNS results once received? How can they hold them back till the drilling is finished? Surely this is price sensitive information & therefore must be released to the market.

[pr0t0n] 22/9/2016 17:03

Well, maybe not for long .
Have a look at volume on TSX....425K shares in 2 hours.
This kind of activity suggest that somethings afoot.

[wisteria2] 22/9/2016 15:41

Thanks pr0t0n,the share is news driven so will just have to wait!! GLA HOLDERS

[pr0t0n] 22/9/2016 14:14

Wisteria,
To be honest not sure what`s going on.
Summer drilling campaign started on the 12th of July.
Maybe they decided to publish once they finish drilling ?!.
PEA should be in October.

[wisteria2] 22/9/2016 14:01

been away for a while, are we due some more news on hot maden?
solg on the move up again! gla.

[irishlass2] 21/9/2016 17:21

87016 trade declared after close. Looks like a buy when the price was 55/57.