We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
I'm not sure if you have read through all the excellent Q&A's from the recent ************* conference. I believe Paul copied them across on LSE & ADVFN after the event.
This was a question specifically about Salinbas which might help. This question was actually asked by me:-
In a normal non virus year, we would probably have started a drill programme at Salinbas/Ardale in May once the snows are gone. Do we have any plans to do so this year, or is the focus for now on getting the second mine at Tavsan into production? Thanks
Kerim: Well given that we cleared the Salinbas licence renewal last year, it was my hope to have been drilling at the project by September, but the current circumstances have easily added 6 months to our timelines.
The issue of adding an Independent Non Executive Director to the Board has been raised before. You will find this on page 26 of the 2018 Annual Report and Accounts. For now Michael de Villiers as Chairman handles most of the shareholder enquiries, but normal day to day enquiries are I believe handled by the Co's PR Company, Yellow Jersey.
I have no idea what you mean regarding ethical considerations concerning the new partner. Please be careful what you say. We are lead to believe this is a very large Turkish conglomerate with interests in many construction fields.
Again it might be worth you reading the Annual Report & Accounts as this covers Corporate Governance but also the various assets/projects. You ask about Salinbas in the Hot Gold Corridor. Please read page 16.
I quote- " The new three-dimensional model has assisted with the visualisation of a highly prospective gold-silver bearing stratigraphic horizon located between volcanic rocks and limestones, which in parallel with the discovery of Salinbas North, has enabled the definition of a JORC Exploration Target of up to 2.7m oz gold & 16.1m oz silver in addition to JORC indicated and inferred Resources of 1m oz gold." "There is potential for further resource extensions to be delineated within high-grade and steeply plunging breccia pipes (akin to the nearby Hot Maden), which likely feed into the Salinbas Horizon. These have all been brought to the markets attention via RNS's which you will be able to find on the Co's web site.
For now nothing has changed and we own Salinbas, Aedala, Derinkoy North & Hizarliyayla 100%. Decisions regarding drill programmes etc. are totally under our control.
I'm sure the Co. will respond to your email. They are very approachable and would not ignore it. Perhaps both sides need to check junk boxes!
Can I ask if you hold shares in AAU? I'm pleased to help, but I think you probably could do a bit more research yourself if you are genuinely interested in Ariana Resources as a long term investment.
Hi VV & M2015,
We know this asset is perhaps the single most crucial component of the MOU given its potential value. I expect the final JV Agreement to be crafted in such a way that we obtain full value for this potential asset which we own 100% in both the short term and long term. The Proposed “partner” still remains a mystery. Could their identity influence a shareholder’s decision, as to whether they wish to approve the transaction or not, due to ethical considerations?
The website refers to “with over 1Moz defined, exploration”. What does this phrase mean exactly?
I have been unable to find an RNS referring to JORC compliance, or is it simply a best estimate? I recall KS wished to undertake a drill campaign starting in Q2 2020,see RNS 15 October 2019, to prove up the asset, however given the current situation with mystery partner coming on the scene, per RNS of 25 November 2019 (just 41 days later). Has this drill campaign been abandoned for the moment? Importantly the mystery partner is undertaking their own due diligence comprising the services of drilling engineers to satisfy themselves of the grades and potential ore bodies. Given that the mystery partner is the majority holder, I presume it is they who will be calling the shots. Ideally the partners are working together seamlessly and are not duplicating or wasting efforts, given that it is the mystery partner‘s financial contribution being spent. Perhaps we will be surprised with an RNS announcing that drill tests have been conducted and we await assay results in due course. Remembering of course that the deal is not signed and delivered.
VV I have moved on” re change of auditor. Although may wish to come back concerning good corporate governance, as I am uncertain as to who are the independent directors on the board who are looking after us PI’s?
Best wishes to all
RD2U
As exploration is Ariana’s speciality, it’s likely that they would continue with the drill programme themselves as they will be the ones doing the majority of the work anyway. Presumably, the new partner will just be funding the exploration and then focusing their own work on the production side of things at Kiliztipe and shortly Tavsan. The only thing that may have delayed it is the timing of the MoU now it’s been pushed back to the end of the month. As the new partner is due to spend $8M on exploration as part of their earn-in, both parties would be looking into how starting the exploration will effect the earn-in. For example, will Ariana get paid for the work they’ve already done (if they have started beforehand), would there still be $8M of exploration to do anyway so commencing now have no effect on the earn-in or potentially if AAU covered the costs now could the $8M be used to get Salinbas into production and reduce
It’s advantageous to both parties to have already started the drill programme. It just depends on whether or not it will pose a contractual issue to the earn-in agreement.
One thing that’s worth keeping in mind is Covid-19. I haven’t looked into current situation in Turkey but if there’s still restrictive measures in place, commercially it may have been a better idea to put the drill programme on hold for a couple of months.
Either way, only about 3 more weeks now to find out whether or not we’re bringing in a new partner or going it alone. As nice as it would be to have the cash in the bank from the partnership, just think of the potential at Salinbas after the drill programme. We could sell-up for over $250M and pay out a nice special divi. Wishful thinking on my behalf but it would be nice.
Reminder: From the web site on Salinbas: Let's get on with developing this asap. AAU told us last year they had started Environmental baseline studies and associated scoping work required in advance of an E.I.A. Plus drill planning ahead of a drill programme starting Q2-2020 (July?) Did the MoU put any of this on hold or are we still pushing ahead?
"With over 1Moz defined, exploration at the Salinbas Gold Project has indicated the potential of the area to host major gold and base-metal mineralised systems. The Salinbas Project represents a significant opportunity for the future growth of Ariana.
The project comprises three notable licence areas: Salinbas, Ardala and Hizarliyayla, all of which are located within a multi-million ounce Artvin Goldfield. The “Hot Gold Corridor” contains several significant gold-copper projects including the 4Moz Hot Maden project which lies 16km to the south of Salinbas and 7km south of Hizarliyayla.
In addition to Salinbas, at the Ardala copper-gold-molybdenum porphyry there are consistent and strongly anomalous areas for copper, lead and zinc, with significant potential for coincident gold and silver, which have only been partially drill-tested. Further south, the Hizarliyayla prospect is partially hosted within the same stratigraphic sequence as the Hot Maden discovery."