Member Info for johnpwh

Just noticed, from a quote just obtained on iWeb, that AAU 'buy' share deals now attract Stamp Duty. Something else which will put buyers off.

An amusing fun fact is that Greatland Gold (GGP), another AIM share who listed on ASX a month or so before, did the listing differently by not listing distinctly different share classes on the 2 exchanges, and are still apparently Stamp Duty free when buying on AIM.

Seems like another well thought out move by the AAU management. Do they ever think of ordinary UK shareholders?

Not unless the policy has changed recently, I did ask a year or so ago

Sorry to read this, for once I called it right.

I like the company, I know several groundworkers and it seems a very profitable sector. But I was here for years before my recent exit I posted about and it just seemed to be going sideways/ down. Even their much trumpeted expansion abroad ended up with the same old story.

Thanks Van. This seems particularly relevant to Dokwe where AAU has some control over the asset.

Hi LoB

I guess you are basically aiming for Premiership survival in the first year back? Anyway, wish you good luck.

Cynicism / pessimism, although I have probably used those terms to describe my attitude in the past, are best reserved for the Johnny come latelys on the board suffering their first bouts of disappointment with AAU. Don't worry chaps, there are bound to be more to come.

As a LTH with what seems like a lifetime of let downs I now prefer the term 'realism'!

I noticed the sharp rise on ASX first thing and, until I realised it was probably an uncrossing trade, wondered if it was a precursor to a bid. Not sure that would be particularly good news either if I'm honest as I imagine that any bid at the moment would be low ball.

That is one of the best posts I have ever seen on LSE.

sad thing is that they do think they can get away with this bull****.

you obviously remember i was dead against the ozaltin jv so l don't want to go over all of it again. however to focus only on the salinbas specific part of the deal, we somehow went from 100% to 23.5% overnight, i was never sure what or how proccea paid for its interest. i objected to the massive fuss that was made of the $8m that ozaltin contributed to accelerate salinbas when in reality that is accounting smoke and mirrors - as a 50+% jv owner they would have been responsible for c.$4m of that expenditure anyway, all they paid for in addition was to cover off the near $4m that would have been aau and procceas contribution given that jv structure. as for the capital payment aau received as part of the deal, that was from distant memory quite small so did that even cover the cost of arianas exploration at salinbas to the date of the new jv?

Good post Stranger.

Don't get me wrong, I want to see the DFS to reflect Dokwe in as positive light as possible as funding & the terms of a possible (I think preferable and probable) JV will depend on it. BUT

How long is it since Rockhopper was effectively absorbed and an estimate of 3 years until production at Dokwe given? Does anyone believe that now? As a measure of trust in the BoD did any LTH ever give that estimate any credibility?

Dokwe cannot be explored and explored and explored some more before the DFS is published. I read, or heard, Sener state that the DFS would be published mid 2026. Is that still the aim? If not when? These deadlines have to stop being missed and stretched (I read with amusement your last paragraph).

Its often said that Sener underpromises and overdelivers, but that only true of reserves and production where forecasts can be deliberately conservative. In the real world of delivery of production and sustaining cash flow, and of course dividends and shareholder vaue, it is firmly a case of under delivery and overpromising year after year.

Great to hear from you Claret, I thought you had given up!

You and I the same, originally attracted here by Salinbas in 2016 after researching Ariana via the enthusiastic posts by someone on iii who called himself DicFromRugby. He had an interesting take on spelling, and the English language in general, but something about his posts made me look further. I think he was largely right and not responsible for what has happened since, that is purely down to (mis) management.

I watched MOTD and wondered if you and LoB were there in person watching the very near draw against Liverpool!

Wow, more green messages. More for me not to read.

I couldn't be more pee'd off. At least they weren't 'pleased' to give this update, did you notice that omission?

In fact the whole situation is ironically summarised beautifully by the photograph included. Sener (I think) and 3 others doing nothing but stare at the latest set of drill cores. I can imagine a speech bubbles 'I think we should drill a few more don't you', 'Yes I think so, don't want to rush things'.

Talk about lack of any dynamism, any attempt at rapid progress. Change of management is desperately needed.

They will tear through this latest cash raise in next to no time, especially with more delay at Tavsan (which anyway we cant be sure whether Ozaltin will allow any cash flow from) and put the company back into a cash flow crisis before the DFS is published. I can see it happening, and most investors (is this investing?) here can too.

And no mention of Salinbas.

Sorry, for anyone here who joined recently (by which I mean the last 5 years) you may never have heard of Salinbas/Ardala.

That was once quite the rage at Ariana. We were told the company maker. That everything else at Ted Rabbit was the enabler to generate cash for this once on a lifetime deposit near Hot Maden with 1 m+ ounce potential. Sener bought a brand new Black and Decker with 2 speeds so he could drill lots of holes and exhaust available funds.

Then the references in updates started to dwindle. And now in an update of projects it doesn't even get mentioned. Funny that. Mind you, when you get access to a new toy the old ones get discarded.

....

Jam tomorrow

Jam tomorrow

Jam tomorrow

And we were lied to about Tavsan coming into full production in Q3

And Sener gets to drill some holes. Because he likes doing that rather than produce anything

Unfiltered for a minute to find pervy Paul being insulting to other posters again. Back you go in the green bin.

Looking at AAU again and what have we got. An ASX quote aimed at achieving a true valuation because Sener thinks AIM doesn't understand AAU in its current form seems to have backfired by proving precisely the opposite. Down again on ASX this morning, now slightly less than the discounted placing price, so are they being beastly to Sener & co as well or will the board now accept that the BoD, with its decade of broken promises and significantly missed deadlines is at fault?

If ASX continues to deliver this opinion there is no where left for the BoD to hide.

Posters on the other board are talking openly about the likelihood of the company being taken out for its assets. I hope that value will be added to Dokwe (with the feasibilty study) and Tavsan (full operation) before that happens to avoid that being at a low ball price, but given the glacial pace things happen in Ariana that seems unlikely.

Gold has been on an upcycle, as you call it, right through the past 10 years. I stand buy what I wrote.

Looking at your other date of 2012, the share price was 4p+. Whatever way you dress it up share price performance is abysmal.

I'm pinning hopes on a Feasibility Study at Dokwe within 18 months . I have no doubt it will be delayed beyond the mid 2026 target originally given, this is Ariana after all. That is because he will want to drill lots of holes to include the new potential discovery in the North East of the main deposit in the FS.

Followed this with a JV (which doesn't include Ozaltin) to give free carry to production while retaining control. Will I get it? I very much doubt it, this company has serially disappointed for too long.

We all know the original 3 year to production promise for Dokwe at the time of acquisition will be missed by years, but then we knew it as the words came out of his mouth.

Then the heap leach finally, finally, finally confirmed as in production. at Tavsan. And pigs might fly.

Fun fact. The Share Price is now the same as in early May 2016. By contrast in that 9 years+ period the Gold Price has changed from $1250 to $3641, or just under a 300% increase.

Silver is up 250% in the same period.

The net margin per ounce will of course be even higher than this because it is geared due to costs.

How can this be regarded as a well run company when shareholders (non) returns are zero over 9 years? It's a pathetic performance. I'm sure management received plenty of salary and expenses in that time.

The scary thing is that if gold & silver hadn't performed so well, something that is independent of the AAU management and is therefore fortuitous, this company would almost certainly now be on the list with the other failed and defunct AIM companies.

Ps this share is a total dog and is only serving to pay the wages and pension contributions of his directors. ]

I doubt anyone thinks any different if they are honest.

As the great philosopher once said 'beware the Friday RNS, especially the one published at lunchtime when everyone has gone to the pub'

Suspect that all that will be achieved is that the wages and pensions contributions get paid for a few months.

If you think I'm being cynical look at the share price graph for 'all time', I think 99.99% down from the peak.

In 50 years of investing I have never seen a company come back from a hole as deep as this one is, but I hope for remaining investors I'm wrong.

The big hope of a ASX listing raising interest, and hence the share price, is showing admittedly early signs of being another stick to beat us with.

I don't know how these things work but, while I wouldn't have wanted any more dilution at effectively 1.34p, was the amount listed on ASX too small to encourage interest or a real market there?

As I understand it the recent GGP listing was done differently. Not only was it much larger, but effectively done so that the same shares are sold on different markets in the same company, rather than our small listing is of 2 distinctly different shares confined to each of their 2 markets. As a result more AAU share are ring fenced on AIM, with just a starter portion available to interested parties on ASX.

News, if there is any, should have accompanied this significant event this week. Instead, true to our experience of this company, there has been nothing - Thursday is usually considered to be the last day of the week for RNS announcements.