Member Info for in4cedros

SID27 - good post and a good listen - oozing confidence on production situation - anyone think he's been peeking at my posts and likes the sound of Kerim Cuprinol - he almost quoted the strap line in the closing remarks!

Levi - hope you are well. Good to see both Tracy and yourself apparently in agreement that AAU is undervalued in the market with 50% of a, now commercially producing, mine and valuable exploration assets - company broker also thinks it's undervalued although last target seems a good while ago now - wouldn't be surprised to see a new broker note once the production figures are published - probably in draft form now so not too late for you to remind them of anything you may think needs greater emphasis.

nanny - I'm seeing an opportunity here as a sequel to last weekends big fight - you versus say Northtothefuture as representative of all those posters in the rapid expansion camp who think Kerim just sits around watching the Cuprinol dry LOL!

Tiger - it says it all to me that you find AAU so alluring you continue to post here when you claim there are better opportunities elsewhere - still a few days left before those production figs but you'll have to try harder to get a lower entry price - POG not helping you either - what a shame!!! BTW I remember reading that AAU would prioritise ore depending on POG - wonder if Kerim is thinking about accelerating the bonanza grade ore?

Tiger - good to see reference to AAU public statements - this is my regular banging on point - AAU have done what they said they would do, so far and a lot more besides ( who saw that 100% Salinbas ownership coming so soon on such favourable terms ). in the meantime POG holding well and strong grounds for optimism regarding upcoming production stats - your continued interest in this little gem is appreciated!

Warmest greetings to all that tolerate my posts and best wishes even to those that don't ( just be grateful I'm less prolific now! ) . Still a few detractors around, largely down to SP rather than bad management IMO, as Kerim has, in the main, more than delivered on his stated objectives for this company and we now have 100% Salinbas to develop. In the future I'm pretty confident people will be saying I'm glad I had faith in the fundamentals when others didn't - detractors will have moved elsewhere after Cuprinol Kerim gives the final brush off with the production figures!

4kandles - the simple answer was I typed my post and then found that I had not previously hit the reply button so to avoid wasting time retyping I inserted the same heading - apologies you found it so upsetting - no attempt at skullduggery - why would I bother - my words say it all - I don't need to manipulate this board - I merely challenge views I disagree with - like, for exampl, your desire to sack Kerim because he wouldn't force Proccea to concrete in freezing conditions! You are still a 'sand wedge ' short of the 19th hole picnic!

Tiger - if you are unable to understand the fundamentals here i can see why you would not want to be an investor - may I suggest you access the Government sponsored financial advice site and assess your attitude to risk - you may be better suited to the modern equivalent of the type of account historically operated by The Post Office with a passbook- as far as I'm aware there is no obligation for anyone to comment or invest in AAU.

Northy - thanks for your post of 12:39. Like you I believe the Tavsan development should be done as fast as is practicable - ideally with bank borrowing but AAU need to show they have the cash flow to repay debt and that depends on ' surplus ' over the total repayments on the JV debt, which is scheduled to be repaid completely over a relatively short period compared to the, very much longer, envisaged mine life. If they can't borrow on reasonable terms ( involving Proccea previously was a huge benefit in borrowing ) they probably will need to fund raise for this expenditure, which is not what investors want to hear and it may be the SP reflects this uncertainty. Incidentally I understand Tavsan needs usual paperwork/ permits including Forestry so there are limits on how fast it can go, even if financing is no issue. Good production figures to be announced soon are key to availability of options.

VanVan - post recommended - the AAU fundamentals are not as straightforward as some other companies so it was worth spelling it out on here. Kerim is regularly updating us on his plans for future development and I'm happy with what I hear - I'm sure he doesn't tell us everything he has in mind - there is skill in knowing how much to say and when. I wouldn't like people to think I'm against discussion of development ideas on this chat board, quite the contrary and discussions here, historically, have been informative but Kerim has done what he's said he would and he's not in control of the SP - current development ideas balance aspirations against available cash and human resources. Northy for the avoidance of doubt Kerim hasn't put me on the payroll yet but I'm picking up all sorts of expressions from my local kebab shop which may come in handy if the NED offer ever materialises!

Northy - must admit I believed Tavsan was already part of the RR project so we have 50% of the JV and I'm not aware that Kerim intends sale of our share or any part of it - the JV partner earned their share by building the mine at Kiziltepe and I don't think they would be happy if we reneged on the deal! ( btw I still think the deal was one of Kerim's finest!) I'm therefore confused as to where this speculation about sale of Tavsan is coming from - it appears you have created a ridiculous scenario in your own mind based on a misunderstanding of the fundamentals!

levistubbs - you and I discussed the ramifications of the mine opening delay and whether they would manage without a Placing - you were doubting then - I didn't disagree merely advanced the possibility Kerim may be able to borrow instead - he clearly decided not to. Kerim needs to balance all the demands and opportunities - not easy to please everyone - there are posters on here who want to accelerate development - just saying!

SID27 - always value your contributions - alleged zero cred Kerim is regularly extending mine life so that company moves from a one shot extraction to a company moving towards a continuing income stream which will enable comparison on a p/e basis with well established stocks in the sector - that will be another bonanza for shareholders!

levistubbs - same old arguments because company fundamentals are as solid now as they were months ago - except we are now very close to seeing the results and the SP is arguably even better value. As for imminent commerciality you'll have to wait for the results like the rest of us but ' beyond expectation performance ' is something I like the sound of - not as much as ' bonanza grades ' - we will have to wait a while before that ore goes through the mill - Kerim a bit like Napoleon - ' armies ' being kept up his ' sleevies '

Tracy - sagacious summary there - still a good few weeks for opportunistic chancers to whinge about Kerim's credibility to try and drive the SP lower so they will make more when Kerim issues those production figures - beyond expectation performance - I'm no ramper so I'm not going to dwell on that LOL!

Tiger - Kerim's credibility is still fine with me as putting to one side the effect of the mine construction delay, over which he had little control, he has over delivered - extended mine life regularly and now achieving 100% ownership of Salinbas.- great potential at this SP for those prepared to wait more than five minutes- clearly not for everyone- if Kerim has no cred for you Tiger why not look elsewhere!

levistubbs - my argument would be it's unfair to criticise Kerim for what he does not say - if you choose to fill in the gaps with your own assumptions and they turn out to be wrong you should blame yourself not Kerim - he did not force you to make assumptions or invest in AAU - that was your choice ! May I applaud those that can attend AGM - you have a great opportunity to ask those questions that concern you and there is a good chance you will get an answer - if it suits feel free to ask Levi's question about use of the Placing money and how confident is Kerim this will be the last Placing for foreseeable expenditure given the likelihood of some cash generation being available to AAU after meeting loan repayments now mine is commercially producing.

I know there is a lot of disappointment about but I'm putting it out as a speculation that if the Sp was 2p or North posters would not be anywhere near as critical of Kerim. He's done what he said he would do, albeit later than scheduled, but, as discussed, not within his control as if he had slipped in penalty clauses for delay I speculate Proccea would have probably shown him the door. Kerim has always talked of wanting to extend mine life as this will be good for SP valuation and will enable him to build a long term team of employees- this he has done but it requires development work which has to be paid for - at the moment by shareholders as our cash from mining is being used to repay the bank loan. We now have 100% Salinbas and therefore ability and need to progress it ( which costs money ) - whereas before Eldorado were in the driving seat - so things change - I believe for the better but the market does not reflect this in the SP - a shame but when there is market realisation this could do very well indeed! In conclusion I'm thinking people criticise Kerim for not doing what THEY believe he should be doing whereas I suggest he's doing what he said he'd do so I find it odd that people are so critical and think it's largely down to the SP rather than the strategy!

levistubbs - may I suggest you bother to listen to the podcast - Kerim says they have commenced the summer exploration programme at Salinbas - ' the teams are active ' ' on the soil geochemical study this summer ' - new drilling targets to be defined for 2018 - it's all work requiring finance, unless you are able to persuade them to work for nothing. More exciting work on Tasvan to hopefully substantially increase resource - rich juicy jam tomorrow for those that have patience Levi !

levistubbs - last line should have read - like me AND THE DIRECTORS :) !