Ariana Share Chat (AAU)

‘ and its proved to be a bad deal for AAU shareholders’

Has it?

Too early to say just yet!

What has happened to dogecoin in the short time since the God Emperor Trump was elected is what we what this SP to do, galling when money is being made elsewhere.

Good comments below, you're not the only one who didn't agree with the Ozaltin deal, and its proved to be a bad deal for AAU shareholders. KS maybe a great geologist, but not sure he can run a company. I'm still invested here, but hopefully once Tavsan up and running if the SP improves I'll be off too.

The current valuation is probably about right. One can add up the reasonable value for each of the assets but I believe that the market has lost confidene in KS's decision making.

At the time of the Ozaltin deal I was not treated kindly here by some for saying it was a terrible deal. Since the time of that deal, the price of gold has risen about 50% but Ariana's value has roughly halved. That's a terrible performance for a gold miner.

Venus Minerals / Cyprus. What happened to the IPO? Low quality asset + Harry chuffing Adams. What more needs to be said? Bad judgement by KS.

Salinbas/Ardala. This was sold to investors with exciting Hot Maden nearology. No such discovery has been made. I think it's 7+ years since Ariana took over this asset and does anybody know what it is in terms of a mining prospect? To me it still looks like a mountainous and remote semi-wilderness with a bunch of mostly mediocre drill intercepts.

IMO if Ariana was still taking 50% of proceeds of Kiziltepe and with Tavsan being brought on with the help of Procea, the SP would be considerably higher. Aussie Kerim has done well for himself and his family but he has blundered too many times and the market has lost faith in his judgement. That's why I too am not invested here. GLA.

@shortarm,

Cyprus and Kosovo are not in your equation either.

AI:

The average price-to-earnings (P/E) ratio for the UK metals and mining industry is 10.2x over the last three years.

Nine years dammit, spell checker my ****

Hi Stranger, I will go for a much more enthusiastic valuation - no one will be surprised by that :-D

AAU have stated they would like to produce 100K Oz per year from Dokwe for ten years plus.

FS stated AISC of 1144 per oz (AAU used a 2000 dollars per oz gold price in the FS).

So PROFIT per annum would be 150 million dollars, mine cost for 60K oz was 82 million so lets say this goes to 120 million?

profit per share after payback (less that one year) would be over 8 cents.

lets say P/E of just 3? 24 cents

in pence that is over 19p

or you can just have a 3p plus dividend for none years?

Have you all registered and submitted your questions?

Investor Webinar

Ariana Resources , the AIM-listed mineral exploration and development company with gold project interests in Africa and Europe, is announcing that it is hosting an interactive presentation on the Engage Investor platform on Thursday, 12 December at 2:00 pm GMT.

Ariana Resources welcomes existing and potential shareholders to join and encourages investors to pre-submit questions. Investors can also submit questions at any time during the live presentation.

Investors can sign up to Engage Investor at no cost and follow Ariana Resources plc from their personalised investor hub.

To register interest and find out more information, please click here:

https://engageinvestor.news/AAU_IP

‘ Gold's problem right now is the rise of the bitcoin’

Right now? I’d say going back ten years!

‘ Good stuff for laundering dirty money.’

Yes usually goes toward Democratic donations, Sam Bankman Fried? Mind you with reference to Iran Contra I hear a jolly good war is great for making profits and laundering and Anthony Blinken is requesting Ukrainian 18 yr olds go to war!

‘ You're gonna have to wait a while for your gold to increase - but it will eventually - just be patient.’

Even if gold went up it does not mean the mines will go up in tandem. We just need more interest in the sector as people right now believe green communism will make them money.

Anyhow now I know you are still alive, breathing, eating soft yoghurt and your nurse is re-entering your grapes back inside you with her finger, I will go out and get your a Christmas Stocking filler over the weekend!

Woof Woof!

I did say it was a fantasy last summer. But what do I know? Then there is Venus to bring ya'all lots of dosh. Just read what the Kefi Chat folks think about their MD, Harry Agnostiras-Whatever. He is involved with Ariana in Cyprus (and by co-incidence resides in Perth WA.). He might even partner into Dokwe!

Gold's problem right now is the rise of the bitcoin. Good stuff for laundering dirty money. You're gonna have to wait a while for your gold to increase - but it will eventually - just be patient.

I wonder if the daft old commie bu33er has shuffled off this mortal coil?

All his copremesis polluting this board was actually quite amusing at times!

Commie Joe had wound his neck back in!

Starmer is a storming success right now!

‘ Deano - your " STARMAGEDDON" ? That translates that the UK will have enough money in the kitty to properly look after their Senior Citizens. Great thinking!’

The words maybe English but what Commie Gibberish have you written there Commie Joe?

Deano - your " STARMAGEDDON" ? That translates that the UK will have enough money in the kitty to properly look after their Senior Citizens. Great thinking!

No. .I'm not in North Carolina (That State has done well and has a Democrat Governor.) Maybe it will " flip blue" in the near future?

Noel Shemsky - " Reaganomics" screwed up the ordinary folk in the USA about the same as Thatcher's privatization did the same to the working and middle classes of UK.

As for your Paul Craig Roberts :

Writing in USA Today, Darrell Delamaide has described Roberts as a "conspiracy theorist",[26] a charge echoed by Luke Brinker of Salon, and Michael C. Moynihan of The Daily Beast, who has also described him as partaking in "Putin worship".[35][36] Roberts has rejected the label and, in turn, described Jonathan Chait and Amy Knight as conspiracy theorists.[37]

Looks like you're a "rabbit hole type " and a Putin lover, too.

Finally, I guess you've got your blue & reds ass about face. I wouldn't want to be living in Miami or Texas cities.

I contacted the office of the liquidator regarding the situation of the liquidation process and received the following message:

"As detailed in the most recent report to members, the Liquidators were dealing with costs and expenses of the Liquidation prior to being able to make a final distribution to members. The final distribution will be a distribution in specie of the Ariana Resources shares. There have been insufficient cash realisations in the Liquidation to declare a cash distribution.

The Liquidators are currently liaising with the share registrars to calculate the Ariana Resources distribution and are obtaining quotes to facilitate the distribution to members.

The Liquidators are due to issue an annual report within 2 months of the anniversary date of the Liquidation, the relevant date of Liquidation being 20 December 2023. The annual report will provide a full update on the Liquidation and it is hoped, however cannot be guaranteed that the final distribution will have been made or be in progress within this time scale (February 2025).

Once the final distribution has been made to members, the Liquidation will remain open in order for the Liquidators to attend to final administrative duties."

Slightly disappointing that there's no cash distribution and that it will be a few months yet to receive the Ariana shares, but that's the situation.

‘The Stock Market is a Device for Transferring Money from the Impatient to the Patient.’

Warren Buffett

Https://www.proactiveinvestors.co.uk/companies/news/1061609/ariana-resources-md-discusses-latest-on-dokwe-gold-project-in-zimbabwe-and-progress-in-tuerkiye-1061609.html

It means Türkiye got us established and gave us a strong foundation to work on, seems we are at the mercy of the operators and their timescales, priorities and abilities!

Dowke is hopefully going to make us money if we get the right operators, maybe their government is in more of a rush to get the stuff out of the ground?

Calculate this selling 49% of two million ounces!!

What Does This All Mean?

Gold producers are paying premiums for high-quality deposits and projects. This makes sense because it’s cheaper to buy ounces than drill, and producers are making record-level profits at current gold prices.

What if $300-$500/oz is the new floor? How cheap are some of these junior developers and producers in that pricing environment?? This is how you get a massive bull market in junior mining.

There are 2 ball mills at Kiziltepe now too. I don't know how robust these things are, presumably they give many years of reliable use. It's a good start, just getting some production going at Salinbas would be a big boost, even if the plant would need expanding in due course. Don't think much over 25,000 ozs per year ever came out of Kiziltepe, with over 1 million ounces to extract they would surely need an extension!

Moving it would be a lot less expensive than purchasing a new plant outright. There would be the prelim work and the mine build but the plant would be operational fairly quickly, it would just make so much sense.

Yes I remember the final processing plan at Kiziltepe idea for Tavsan but that stopped being mentioned years ago. Think Tavsan was always intended to be heap leach, certainly there wasn't a question of trucking all of the ore which they are doing now but only with the higher grades. My understanding is that Tavsan is an extensive, shallow but mostly low to very low grade deposit. Good in a way for the future Salinbas production as it means there is a plant available in a couple of years, though moving it wont be cheap.

As far as I recall 8M was put aside by Ozaltin purely for Salinbas - this is not yet used.

The original plan for Tavsan was to do the final processing at Kiziltepe but that changed when Tavsan got bigger (I think) so it will be processed completely at Tavsan now.

I agree, an excellent post by Stangerstill, but is the additional drilling at Salinbas and its satellites funded by Zenit, which would potentially consume much of the cash not needed for loan repayment during the Tavsan ramp up period? An obvious gap in my technical knowledge but how exactly does the heap leach work? After the leaching process does the plant being developed at Tavsan produce an impure dore which is refined elsewhere (but not the Kiziltepe plant)? Would be interested to know. I believe that decommissioning and prettying up costs at Kiziltepe have been reserved, this was a question that came up at one of the London meetings pre Covid.

Read it and understand, they are a globalist deep state actor.

https://www.ozaltin.com.tr/en/corporate/about-us/

Not quite capitalist and not quite communist.

I rather fancy we were given terms we could not reject even if we wanted to.

VanVan, Stranger

Interested in you views. Despite what some may think I don't regard myself as doom and gloom, but as a realist who put his rose tinted specs away many years ago with AAU. It is one thing to miss an isolated development deadline but when it happens time and time again you cannot ignore a pattern has emerged.

I was pretty much the only one I think who voted against the Ozaltin JV, and my posts are there in November 2019 onwards to prove it. Sadly I believe I was right to oppose it but I would much rather have been proven wrong. However what worries me more now than the poor price received for the assets ceded (ouch, 26.5% of 300,000 ounces at Tavsan plus 26.5% of Kiziltepe output since early 2021), in some ways more worryingly is the ceding of voting control in the JV. Why else did Ozaltin want a little over 50%? Potentially AAU cannot demand any dividend payments from the JV even when Tavsan is throwing off large amounts of cash after production in ramped up. Like the development of Tavsan from Kiziltepe profits, Ozaltin may demand all future JV profits go to Salinbas, why won't it as Ozaltin is not interested in Dokwe (yet). Then what does the board do? More equity? Debt on the AAU balance sheet? Being forced into another poor JV with Ozaltin as it cant develop Dokwe otherwise? It's worrying, and judging by this share price unless there is clarity this SP isn't going far despite the gold price. Like Van I hope our new major shareholders from Rockover, especially considering their ages, will have significant influence here. I trust Proccea, I don't trust Ozaltin.

Looking back at the mine build with Proccea back in 2016 the build went quite smoothly with the plant targeted for completion at the end of 2016 and the first gold poured in March 2017.

The impetus was lost when Ozaltin joined the JV. I suspect that Proccea and Ariana might progress things better.

Strangerstill

Well done for your analysis but are you a long term shareholder who can recall when Tavsan was originally due to start production? Bit like the flying pigs at Salinbas in 2025. Now shareholders talk about a few months slippage here and there when in fact it is years! Having a Geologist at the helm seems to be a recipe for weak and inaccurate communications. There is always a lack of numbers, projections and timescales which are totally airy fairy. Despite this many of us long termers can see through the fog and still remarkable perhaps, believe there is multi bagger potential, but for those looking in, it must be nye near impossible, hence our derisory share price performance. I had hoped the experienced old stagers (Rockover) - Nicholas Graham, Andrew du Toit, Dr. Matthew Martin Randall, or even Mentor Demi, might be able to help in this regard, but I suspect Kerim allows no one to step on what he sees as his patch.

Kiziltepe

With the gold price having climbed from US$1,200 per ounce in 2017 to well over double that today, Kiziltepe remains a highly profitable mine and the partners intend to maximise the returns from this operation over the next few years.

With a current cash cost averaging US$1,450 per ounce, partly reflective of the additional costs of Tavsan, Zenit's finances remain robust.

Doom and Gloom - Obviously Zenit has lost control of operational costs so we will make very little profit in the future.

Rational interpretation – Kiziltepe will be producing gold profitably for more than a couple of years but less than five years, this is a lot longer than originally forecast. The Tavsan mine is fully operational so all the revenue costs of mining (including Tavsan) are currently being absorbed into the 20k production at Kiziltepe. When the heap leach processing plant at Tavsan is operational the mining costs will be absorbed over 50k production and I suspect that, even with the processing costs included, the economies of scale will result in a lower cash cost per oz.

The RNS was full of good news.

Tavsan will soon be operational and making profit.

The Dokwe Feasibility Study is being progressed with the help of Proccea, a company that has lots of experience and good working relationship with Ariana.

Kiziltepe will be operational and profitable for a few more years.

All this is news we have been waiting for, so why are so many investors so negative?

I have read the latest RNS and have analysed it from two points of view; Doom and Gloom and my rational interpretation.

Tavsan

Construction at Tavsan commenced at scale in July 2023 and has been largely funded via Zenit through its internal funds. More recently, a US$20 million debt facility was committed to the project to accelerate construction for delivery of the new processing plant by the end of 2024. As a result, we are now on track for gold production through the Tavsan heap-leach in early 2025.

Doom and Gloom – Once again Tavsan is delayed, now until 2025 and Salinbas will probably only be built sometime in the 25th century.

Rational interpretation – Projects often get delayed, the major delay was the legal action against Zenit. Another reason for the project being delayed was the strategic decision to fund the initial ground woks, mine development, etc. from cash generated by the Kiziltepe operation. This resulted in a much smaller loan being taken out with less risk and lower interest charges. This will result in more upstream profit than if a loan had been taken out to fund the whole mine and processing plant build.

Dokwe

The Zenit operational team have commenced a project assessment study, following their recent visit to Zimbabwe and the Dokwe Project site of the Zenit mining, exploration and construction teams on site last month. Over recent weeks, we have shared our project data with Zenit as we explore opportunities to leverage their technical strengths with a view to involving them in support of the Dokwe Feasibility Study."

Doom and Gloom – We are going to sell out to Zenit at a ridiculously low price.

Rational interpretation – Proccea is responsible for the construction and operation of the mines for Zenit. When Dokwe was being considered Ariana made it clear that it would make sure, as far as possible, that it would keep control of Dokwe and that it might involve Proccea in the design and build of the mine. Proccea is a Turkish company that has built several gold mines and operates some of them for clients.

Well 4kandles - if they did sell circa 75% at the recent rate that would be just shy of 200M for the 2M plus resource... Do not think that is what will happen though :-D

Hang on a minute, does this mean that Ariana will expect to own 23.5% of Dokwe rather than the expected 100%?

Happy days again for AAU shareholders?

Proactive 15:53 18 Nov 2024 GMT:

Ariana Resources PLC's (AIM:AAU) comment that its partners in the Zenit consortium in Turkiye [Proccea and Ozaltin] have started a project assessment study on the Dokwe gold project in Zimbabwe was an intriguing line, according to broker Panmure Liberum.

Ostensibly, the update was about the Zenit consortium’s operations in Turkiye but any involvement in Dokwe would substantially boost its development prognosis.

Last week, on its own, Ariana raised US$5 million for work at Dokwe through a loan from Riverfort but the financial firepower of Zenit has already been demonstrated In Turkiye.

Earlier this year, Zenit secured a favourable US$20 million credit agreement with Turkey’s largest bank for the under-construction Tavsan mine.

Ariana had already credited “the strength of partner” Ozaltin as being key to obtaining the loan, adding that “such strong banking relationships bode well for the development of [Ariana’s] future project pipeline.

This means not only in Turkey but potentially also for Ariana’s newly-acquired, transformational 100%-owned Dokwe gold project in Zimbabwe, the broker suggested.

In the statement today, Ariana added the Zenit group was looking to expand its areas of operation and teams from the group visited the Dokwe project in October.

Ariana is working on a feasibility study at Dokwe and targeting a resource of at least two million ounces of gold though, eventually, it might become a multi-million-ounce project given camp-scale potential in the wider area

Panmure Liberum explains that with many Archaean greenstone belt terranes, major gold deposits tend to occur as clusters within multi-million ounce ‘camps’, usually along crustal-scale shear zones.

“All these elements are present in the Dokwe region, including several untested gold-in-soil anomalies, it adds.

Pit optimisations run earlier in the year at a US$2,000/oz gold price resulted in a 16% increase in higher confidence in pit Measured & Indicated (M&I) ounces to 1.27Moz gold at1.33g/t g/t though the overall resource was unchanged.

Ariana said at the time that the enlarged in-pit resources should allow the examination of an expanded mining scenario of 75-100koz/year over 10-15 years as part of Dokwe’s Definitive Feasibility Study (DFS).

Panmure says this should result in improved returns over the revised Pre-Feasibility Study (PFS) economic model from May, which had assumed 60koz/year over 12 years, yielding post-tax NPV10% of US$160m and IRR of 41% at a US$2,000/oz gold price.

Meanwhile, in Turkiye, Tavsan’s construction remains on track for the first heap-leached gold production in early 2025 while at the current gold price (US$2,665/oz] Kiziltepe is still making good money said the update.

‘ I wont be losing sleep about it!’

Oh cheer up ya miserable bu33er!

https://ibb.co/3cWvR7C

As soon as we get good news on here you troll along with the mood vibes!

Hi Moneymaker

Thanks for the comments, sadly the SP reaction when the Gold Price is showing signs of bottoming and rising again says a lot about how the RNS is being received by the market.

I assume the green message was one of the children who take pleasure in sniping at other posters. I wont be losing sleep about it!

Also to be fair to John he can still sell out out a profit today if he wishes.

To be fair to John, it does say completion of major works, making you wonder when the remaining work will be complete and commissioned. Impact from the weather is a different story as we’d need to know what work will still be outstanding to know whether or not it may be impacted by the weather.

As he’s says though, on the bright side, with the POG continuing to rise, it should only have a positive impact in the long run.

Poor John, minus his prostate and he is still moaning!

Well John it is that time of year where we all start Christmas shopping and I have been considering stocking fillers for your good self if you excuse the pun!

What about this wonderful item?

https://www.ebay.co.uk/itm/186228378011

Long time no see!

How’s the prostate?

Hopefully this mornings gold price indicates that sell off is tempering now. If so then a level of $2600 is good news for a relatively low cost producer. News on Tavsan would be welcome and may provide a modest boost, constantly waiting for news that doesn't see to ever come isn't good for sentiment.

Agree.

Although clearly some with very short term views are offloading now.

Much more to come here.

It was a good bearcast

As I said yesterday after the RNS this isn’t a death spiral.

Good to get some more information. This moves the project forward and a delay until after Christmas fir an asx listing makes sense.

I’m back to my average buy in price again. I wish I had sold and bought back

In but hindsight is wonderful. I will have to wait fir the asx listing in February I think to buy more.

Rodney we will be…….?

Happy days are here.

Well done to the Ariana boys.

A good summary SS, it makes a lot of sense

slig

There was a lot of negativity about Dokwe and the ASX listing due to concerns that the funds needed for the development of Dokwe would all come from dilution. Ariana has taken a short term (18 months) to help fund the Feasibility Study to reduce the amount of share dilution.

Ariana will know how the development of Tavsan is going and the impact that this will have on the distribution of profits from Zenit. I know that we are all frustrated with the lack of news on Tavsan, Salinbas, etc. but this is dependent on the official news released by Zenit and I suspect that there is no urgency on the part of Ozaltin as Zenit is just a sideshow to them. I suspect that this loan is seen by the Ariana management as a short term, albeit expensive, drawdown on expected cash from Zenit.

Ariana have bought some time on the ASX listing, as short-term cash needs are met from the loan, taking the pressure off the need for a hasty ASX listing. I suspect that Ariana will want to have published the Feasibility Study and have news of Tavsan and Salinbas published before going for the ASX listing to get a better price on the listing.

The Investor further agrees to cornerstone, at the appropriate time, an equity investment of a minimum of A$350,000 and up to A$500,000 into the planned ASX capital raise as part of the anticipated ASX dual-listing IPO ("ASX IPO"). This is a vote of confidence in the ASX listing and Ariana and will help when Ariana is listed on the ASX.

I believe that this loan, although a bit expensive at a cost of $420,000, will help to keep the amount of dilution down and help with the listing on the ASX and will subsequently give a higher long term share price. I also believe that the further exploration of Dokwe North, Central and South will give a very large gold reserve. The area of surface anomaly at Dokwe South is far greater than the surface anomalies of Dokwe North and Central combined.

I believe that this is a very good management decision.

Ariana Resources plc ("Ariana" or "the Company"), the AIM-listed mineral exploration and development company with gold project interests in Africa and Europe, is pleased to announce the appointment of Australian capital markets firm Ord Minnett Limited ("Ord Minnett") as Lead Manager to its proposed dual-listing on the Australian Securities Exchange ("ASX"), which is targeted for completion by the end of the 2024 calendar year.

Versus

This is subject to the ASX IPO being completed by no later than 31 March 2025.

Does this imply further delay?

A little light on terms but considering the struggle aim firms are having with financing this is nice to see. No silly death spiral financing or dilution.

I’m more comfortable with Trump.

He swims in a swamp too, but hopefully he can sort out Ukraine and Palestine, it’s gone TOO FAR!

No Noel .....if Trumpy could fix,,,he'd be no more! But I;m glad it's im...even if though it severely affects my sell trade tomorroW....but I'm happy to take a wee bit of my 30% yearly gain (GCT Free) off the table for now....just laughed out loud...gfold just now at $2666.66 and £2,066.66 ...........marky beasty...lol

"A Good Morning in America" - Paul Craig Roberts says, "Trump’s victory is not only a defeat for Democrats but also a defeat for the ruling elite that pulls the strings of both political parties and a defeat for the American media that serves as an enforcer for the official narratives that serve the agendas of the elite".

He says, "Trump’s victory is also a victory for the American people who love their country and respect the Constitution. It is their victory over the left-wing intellectuals and university law schools who have been working diligently to overturn the First and Fourth Amendments that are in the way of their revolutionary intentions that are clearly anti-American".

He says, "Trump’s determination and strength are rare".

There is more at -

https://www.paulcraigroberts.org/2024/11/06/a-good-morning-in-america/

A big week coming up, I hope it’s the God Emperor Trumpious!

Anti-Trump propaganda and lies on Wikipedia -

"Pervasive Marxist and far-left activism on Wikipedia laid bare"

https://expose-news.com/2024/10/31/pervasive-marxist-and-far-left-activism-on-wikipedia-laid-bare/

For those of you who held SVE shares prior to its liquidation, I can advise that following a call to the liquidators today, they hope to distribute the outstanding AAU shares within the next month.

Nd

Those who bought today picked them up at a bargain price. In a week or possibly two, they will be congratulating themselves on their astute buys.

Looking at the chart, this recent jump does look like a very steep spike, so there could be a bit of a correction. If so, I will use any fallback as a buying opportunity because the steep spike is only "toppy" in the short term. Looking at the chart on a longer term view, the price is still below previous highs and I expect those previous highs to soon be overtaken.

Those who are selling today at 3.0p are making the same mistake as those who sold last week at 2.1p.

This has been extremely oversold, but those days are over. The potential and the value are now being recognised.

Those who sold at the start of last week have now missed out on a rise of almost fifty per cent and I reckon there is plenty more to come.

There's a bit of selling by profit takers \ weak hands being shaken off. A bull market always shakes out the weak hands. They are selling at 2.8p \ 2.9p.

At the start of last week, people were selling at 2.1p. What do they think of 2.8 \ 2.9 today - roughly 38% higher.

I previously said - "I am now convinced that before the end of November, those who sold a few days ago will have missed out on a rise of at least 100%." That was referring to those who sold at 2.1p, so the sp needs to hit 4.2p in November for my opinion to be proved correct..

Wed - The Budget - CGT to go up, we know that, but by how much? Will they also absolutely rob savers by targeting shares held in ISAs?

From out of the ashes.. Dokwe is breathing new life into this investment.

"Based on our current assessments, we are targeting potential enhancement of the resource to at least 2Moz of gold."

- Dr. Kerim Sener, Managing Director

DOKWE PROJECT EXPLORATION UPSIDE

Ariana Resources plc ("Ariana" or "the Company"), the AIM-listed mineral exploration and development company with gold project interests in Africa and Europe, is pleased to provide an update on its internal exploration data review for the 100% held 1.8Moz Dokwe Gold Project in Zimbabwe, focusing on the near-term potential exploration upside at Dokwe North and Dokwe Central.

Highlights:

· The resources at both Dokwe North and Central remain open along strike and at depth, and there are excellent prospects of increasing the resource with further drilling in the following areas, specifically:

o Several moderately angled southwest plunging higher-grade shoots at the Dokwe North deposit remain untested at depth and demonstrate that the deposit remains open to the south.

o Northwest flank of the Dokwe North deposit shows potential for further mineralisation to be identified at depth within an area of repeated prospective stratigraphy.

o The Dokwe Central deposit remains open to the west and historical intercepts (notably 7.3m @ 6.63g/t gold intercept from 32.2m) to the east indicate that the prospectivity of the Dokwe Central fault zone extends for at least 1km.

· Step-out and infill drilling are being planned to enable appropriate testing of the exploration potential defined to date, with a view to increasing the resource to 2Moz of gold.

The way the UK MSM reports the G7 but ignores the BRICS summit in Kazan makes me think of the 1960s. Imagine if then the media reported everything The Beatles did but failed to even mention The Rolling Stones. Which of them lasted the longest?

"A new world is being born" - George Galloway gives us exclusive news from the BRICS summit in Kazan - as big as Bretton Woods - a new commodities exchange.

https://www.youtube.com/watch?v=AlxQ2sq63Gw

Tom Winnifrith Bearcast: Ariana to 3.5p by Christmas?