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Hi all Yes a much better interview. A question I want answering is “will any of the current development spends be recoverable from the new partner”? Seems strange that this expenditure enhances the valuation of the MOU.
Hi M20ASH. Yes I get that now. So Proccea contribution, which is mentioned, to get their 23.5% has a value assigned which has not been declared to us in the MOU. Presumably it lies somewhere north of $5m! Thanks for getting me to read the original MOU more carefully. IMHO, once indicative resources are identified at Salinbas, I can imagine Ariana exiting Turkey with a packet of dosh which it will use to explore other regions that Kerim fancies.
Hi GA, as far as I can make out from the original MOU, Proccea will by providing management services, etc as part of the deal for them to own 23.5% of Salinbas so AAU will have the other 23.5%. Cheers, Ash
I think we have got to wait for the Co. to issue the final details and achieve shareholder ratification before the share price truly reflects this transformational milestone. Don't forget they have got to get Ministerial approval as well although with Özaltin on board I expect that is a formality. End of August with the cash on our balance sheet and dates set for the hoped for special dividend and I think we will see a very different share price to that of today. Just my thoughts.
Its been another great quarter for the gold price, the average price for the quarter is up 8.2% to $1712.39 for anyone concerned on the skew by coronavirus, compared to Q4 last year its a rise of 14.55%. The average silver price is down 2.89% to $16.38 (-5.49% on Q4), however that is being heavily skewed by the hammering that silver took between March and May, the price has now pretty much recovered to its peak levels - as the silver wasn't sold during this period, the average price received is likely to be much higher than the period average.
Come on John it's not that bad. Tavsan should start production early 2020 and that means lots on news flow (important value accretive milestones) along the way. Salinbas: I'm expecting a dedicated Resource drill programme later this year pre winter. Salinbas E.I.A. study & Scoping Study is of course already underway and will no doubt now be accelerated. Cyprus: drilling programme late 2020 Kiziltepe: Exploration & Development drilling around Arzu South (U/G deep extensions?) leading to the potential for a new U/G mine. Not much more drilling to complete there so news might be soon. Then once Kerim gets his cash who knows what opportunities he might uncover. Isn't there anything there that gets the old ticker going? Surely the nice special payout followed by regular dividends all being well. Cheers
Noticed a while ago that one of the comments may have been yes we have a smaller percentage of the new venture going forward but the pie has now got bigger with Salinbas etc coming on board so our net income going forward should equal out. But we now will have all that cash to go and strike up new ventures and projects and a special div perhaps. It is by the joint ventures that the company is adding value long term so I see this deal as a positive.
Hi John, well I'm still optimistic for Tavsan to be in production early 2022 so only 18 months and there's not much more I can add on where I see output with current capacity. I had a look through the Ozaltin website - impressive stuff, especially the tomatoes! I hadn't picked up on them at all in my research because, although the founder (now deceased) was born in Artvin province, they seem to have no presence there in terms of construction projects. Local clout must refer to Turkey as a whole, which they clearly have. I think a lot of investors were hoping for improved terms given the advances made in the period since the MOU was announced and the increasing POG, but c'est la vie. Hopefully, the mechanics for the special dividend are being worked on as that will be a nice bonus for everyone. I assume that work will also have been passed across to the new accountants to complete. It will also be interesting to see, once the deal is complete, how quickly things move forwards, particularly Salinbas, Ardala and Hizarliyayla and whether a more aggressive drilling approach unearths those bonanza grades we have all been hoping for. Still reasons to be cheerful! Cheers, Ash
I see where you are coming from. But this company is debt free and will have cash in bank. The earnings will reduce but there will still be decent earnings compared to mcap. Is there a comparable gold mining company on Aim?
Agree with you Ash. I feel AAU is probably fairly valued now. There will be cash in the bank but reduced profit flow from Kiziltepe, and is now a minority partner in its assets. The dominance of this new partner worries me, always has done. Salinbas is many years away, current production declining (as expected) and even Tavsan has been delayed by Covid so is, what, 3 years from production? Apart from PoG movements I dont see much excitement here.
I can't download the RNS info about the Commitment by Ozaltin Holdings AS (the MOU we've been awaiting) . LSE is saying the page is no longer available but all the details are visible on ADVFN website.
I have been in here on-off for several years - first invested when it was sup 1p. Personally i believe that this company has been well run and it is in a great position. There have been a few frustrating placings along the way but that is AIM. What i have never quite grasped is the disparity between the share price and the value over the years.
So deal not done to deal done is not worth anything? SP was over 2p before deal was announced so at the time should have put SP to around 4.5p. Gold has soared since then as have gold producers so SP should be well north of 4.5p.