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We have had our fingers crossed for longer than I care to remember! Lets hope for good Tavsan news, maybe (just maybe) good AS results from current drilling and an increase in POG.
Had me checking the sp when I first read you post Paul! But yes, down we go. First hole started drilling last Thursday from the twitter feeds - thanks for the link VanVan - so maybe a couple of months to complete and get some results back. Fingers crossed John!
Picture on twitter today:
Southern end of the Arzu South pit - vein zone in foreground #AAU #gold #mine
Ho! Ho!
No M2, onwards and downwards!
I can see BRICS becoming BRICTS and Turkey receiving Chinese investment in the future maybe?
Onwards and upwards John, onwards and upwards....
Excellent M2. well it is the weekend!
To hear of imminent Tasvan development would really help, especially as the repayment of the loan is predicted to be only 12 months. That and a significant further increase in POG/POS would drive the SP - I see NE Turkey as a much slower burner unless on of the RC drills stumbles upon the fabled HM2
May well be Paul, but all we can do on here is debate, share our knowledge & try and have a bit of banter from time to time. We certainly cannot influence events and I would urge any readers of this Board to read up and check out everything for themselves. I have 36 years experience preparing & reading financial accounts, but the information is limited and has to be backed up by further research, especially when you are risking considerable amounts of money.
Anyway, that’s far too serious so on to my favourite joke...I was at the doctor’s the other day and he said you’ll have to stop masturbating. I said why is that? He said, because I’m trying to examine you!
AAU thread of the year?
Should all keep things ticking along nicely!
Absolutely agree John. Even if production is as low as 20K oz of gold for 2020 with similar market prices for gold and silver, the lower loan repayments and interest costs together with the lower amortisation cost of the mine asset should still see an improvement in the JV results. Comforting to know that there is a reasonable safety net and then looking further forward to 2021 with Tavsan potentially coming on stream, the step up should be significant. I would be a little disappointed once we have both mines producing 50K oz per annum, say 2022, but still repaying the loan to get Tavsan up and running, to see the sp below 7-8p. Might be a bit too long-term for some, but it will do for me right now.
Don’t forget ore from the variety satellite pits - Kepez, Etc.
True M2, but after the AS stockpiles are exhausted mid 2020 we can expect a drop in grade when AN and Derya are the main source - but by then of course that loan should have been repaid and so the possible lower financial result each quarter will nonetheless represent higher net cash to the 2 JV partners.
Hi John & Paul. I've spent some time today going back over previous drilling updates for Kiziltepe to see if there are any clues. There were definitely good intercepts in the central area of the Arzu South pit around the pit floor at 90-100m along with other results around the pit area that suggests some further exploration is warranted.
If they don't find anything of significance, then in isolation, this may be construed as slightly negative, but if you look at the bigger picture with work commencing to start mining Arzu North and Derya in Q4 and the final drill results from Salinbas, the news flow should hopefully balance this out and doesn't change the overall prospects and value here.
Yes Paul. That was pretty much my impression as he said that nothing yet had been drilled deeper than the current 'floor'. As you say as part of the minimizing of the ecological/aesthetic impact they need to back fill - but they obviously want to make sure they aren't ignoring a good bit before covering it up. So is this just a reassurance prior to filling or do they think there is something to find? In the former case I just don't want to see a SP plunge when/if they confirm there is nothing , and it would be good PR to signal the purpose of the drill in that case.
I think you are right in your views on drilling at AS. Kerim said that the cheapest way to deal with spoil from new pits was to use AS as long as there was no seam deeper in the pit. I got the impression that he thought that the seam there might be found deeper under the pit floor.
Slightly confused by this. I asked Dr S about AS in the last presentation in London, basically would the pit be maintained free of water (flooding happens to abandoned pits in UK). He said at the time that they weren't yet ready to abandon the pit in case of deeper seams, and if they did the plan is to use AS to 'lose' the spoil already accumulated and arising from AN and Deyra. Didn't say at the time that drilling at AS was imminent (unless I dozed off). I assume this is targeted, as even though it wasn't expected I am concerned that a negative result would be seen as that …. negative on sentiment. Perhaps the plan is to confirm that AS is truly mined out so they can commence to dump in there? Forgive me, I'm rambling on!