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Demir - EnGeoTek - Zenit & London listed Ariana Resources (AAU) and their holdings in Kiziltepe Mining Enterprises: they are all closely linked and have been for some time judging by these articles. Ariana has forged a rather successful path for itself and is now diversifying away from single mine production towards a multi-national approach, on a small scale. Conroy may well do well in time but I agree with the consensus here that the Irish venture would have been an expensive gesture that likely would have resulted in years of delays and setbacks.
https://www.mining-turkey.com/wp-content/uploads/2017/12/Mining_Turkey_Magazine_Sayi9_LQ.pdf
http://webcache.googleusercontent.com/search?q=cache:P20hK6Av2sAJ:www.engeotek.com/en-us/content/new-detail/27/demir-export-a-s--sivas+&cd=9&hl=en&ct=clnk&gl=uk
Agree. Conroy maybe would have made sense when they agreed the JV last July but since then we have been presented with all these other opportunities in the previous occupied territories which are much bigger and can be brought to production much quicker. Conroy would have been a massive distraction and now we can focus on getting Zod back up and running which will more than double our production.
Does anyone know how many shares we have in Conroy when we exercised the 16p warrants? Hopefully we have sold them already and made a little profit on them
Totally agree with all comments , glad to see the back of conroy lets hope for a rise in sp tomorrow because of excellent news.
Pleased AAZ are out, odd it should be a Turkish comp who steps in to replace us, relations between Azerbaijan and Turkey are very good did they do us a favour?
I did some research on conroy a while back. Highly doubt anything will get built in Ireland. Happy to see us end interest in this particular opportunity.
AAZ absolutely dodged a bullet. They are a decent sized outfit, but spending 10 years trying to desecrate the green fields of Clontibret with an open pit scar would of been very distracting.
The RNS terminating discussions with Conroy Gold is IMHO very good news as:
(1) Conroy has proven he is difficult to deal with and his conduct does not exactly demonstrate trust &
(2) AAZ have a lot of opportunities landed at no notice & quite frankly focusing closer to home is a much better use of their time & money.
ATB APR
Looks like Conroy were doing the dirty on us, I was right he is a difficult man to deal with, negotiating with another party whilst under negotiation with AAZ. They signed an agreement with another outfit from Turkey today "Demir Export A.S" - good luck with that one.
Turkey are hardy the beacon of worked rights, environment and safety, interesting development though as Turkey are all over the restoration of the captured Azeri territories - I wonder if that company will pop up in Azerbaijan, they are apparently owned by a big parent company.
I'm not surprised, when I took a look at Mr Conroy's history I thought he would be very difficult to deal with - there is no way they could have let him rum operations and I doubt anyone else will. The prospect looked great, but not if we get the wrong terms.
His own shareholders are allegedly running out of patience with him, this was a massive deal for Conroy.
For us, plenty of other fish to fry.
Haven't we got some free shares in the company now?
Onward and upward now.
...it seems to be their share price that is dropping.
Not sure that is bad news, in fact...
Anglo Asian Mining PLC ("AAZ" or the "Company"), the AIM listed gold, copper and silver producer focused in Azerbaijan, has today terminated discussions with Conroy Gold and Natural Resources plc ("Conroy") in respect of the previously announced proposed joint venture agreement. Details of the heads of terms signed on a proposed joint venture with Conroy were announced by the Company on 21 July 2020.