Member Info for johnpwh

Thanks for the reply Van.
I assume by finance it you mean loan to the JV. They certainly wont be gifting it! Any more than they will in Salinbas where I believe that their sole financing will be the $5m to AAU and the £8m to bring the project hopefully to the point of establishing a plant. The financing of that will again be the JVs responsibility

Hi Claret/ Van
Can I say immediately that its not me selling so please don't stick pins in my effigy!
I admit I've lost touch a bit with dates here, can you tell me what the Tavsan timetable is now? Last I heard was that Covid was going to cause delay. So when does the company say development to start on site, when is first production estimated and when will the debt taken out be repaid? Being an old cynic I'll probably add 6 months to get a realistic date.
John

It may not be quoted Van but Ozaltin is still 'owned' by someone, maybe its family owned, maybe a private company with a wider shareholder base. At a high level their board has one reason to be - to maximise value for their shareholders. Which is why I say now that control over assets and the operations has been ceded to a company whose priority is not AAU shareholders. AAU is now a miniority shareholder, and even it they gang up with Proccea they still cannot over rule Ozaltins decisions.

GA
Just the froth has declined , maybe realism setting in. Hands up, I have been publicly anti this from the initial announcement but I know the vast majority of posters disagree with me. Fair enough, that's probably in their favour because I'm usually wrong!
Unless a Hot Maden type deposit is stumbled upon I thing we have quite a long wait now for significant news. My main gripe is the loss of control for what seems a modest sum - not only is this loss seen in the financial interest in the producing resources but also that the future strategy of the new JV will be dictated by Ozaltin as 53% shareholders - and their decisions will (quite correctly) be in the interests in Ozaltin shareholders not AAUs.
I am a little ray of sunshine aren't I?

Sadly I think this is a case of its better to travel than to arrive. Its been a few days since confirmation of the MOU, cant see any significant rise happening unless an extraordinary spurt occurs in metal prices. I'm very much with Ash on this, he seems a level headed sort of chap. I still intend to maintain a shareholding and wish all here good luck so will pop up from time to time but admit my enthusiasm for this story has waned.

I was wondering the same!

DJ
Go on to twitter or i guess Ariana website

Agree with you Ash. I feel AAU is probably fairly valued now. There will be cash in the bank but reduced profit flow from Kiziltepe, and is now a minority partner in its assets. The dominance of this new partner worries me, always has done. Salinbas is many years away, current production declining (as expected) and even Tavsan has been delayed by Covid so is, what, 3 years from production? Apart from PoG movements I dont see much excitement here.

Just have to wait and see!

Well that's your theory gone west urzz!

I appreciate your view Moneymaker, but in my reasonably long association with this company I have become used to excellent communication from them. The board know that shareholders will be nervous about this twice (3 times?) delayed event, the fact that no RNS had been received implies that there will be no further delay.
So to reassure shareholders I would have expected an RNS saying that negotiations have failed or have been success and a full statement will be made in due course

Sleep well!!

Thought we would have had an RNS by now about the result of the MOU extension until 30th June. Or are we expecting another dinnertime one?

ATS, genuinely hope you are right and that I am talking tosh. Freely admit I've had enough and would like out of here (but at a higher price than now).

acrossthesea
Will it? BP & Shell both seem to be banging on about their green aspirations (particularly BP). Would they be able to justify a HUR takeover without looking like dirty rotten liars?

Mk111
Just an opinion based on the push for production without the restraint of Trice who was always reassuring that there were no plans to raise capital. I look at the HUR website now and there are a bunch of strangers in charge, apart from the Kerogan chap with the funny name (cant match Mr Looney at BP though) I don't think any have much skin in the game. That means decisions like placings etc with be taken on hard nosed business logic with no thought to personal circumstances (Ok, that attitude might turn out to be correct, but you know what I mean). I personally would not participate in a rights issue, probably not even partially.
People look at the 'cash pile' as if its a massive buffer. In my opinion it is not, with 2022 on the way (unless there is a plan to refinance the bonds) the capital position looks thin to me - helped thankfully by a hopefully lighter touch by OGA on licence maintenance and by the relative recovery in PoO over the last few weeks. We need it to continue, especially with production down.
Captain
As you Dr T is on board, not on the board - just looked at the website and he has been removed. What do you mean by a sell off deal, not sure what you mean? I of course got my decimal point in the wrong place when I worked out Dr Ts shareholding last night. Hopefully I'm right this time at 1.3%, at that level as a non director I don't think we will hear when, if, he sells out . In my defence I have 2 maths degrees, so cant be expected to do arithmetic.

I don't want to sell out at this price, bit of a rabbit in the headlights moment.
Trice still, as far as I know, has a large shareholding. While he does then I would have thought a niche in the company should have been possible because it is in his own interest to be co-operative - this shareholding must form a significant part of his personal wealth, especially as like the rest of us he isn't getting younger.
Worries me that there may be significant fund raising her which at this SP will prove highly dilutative.

From the information I have Dr T has a notifiable interest of over 13%. So even when he ceases to be a director we should learn about changes to his shareholding (presumably downwards).
What a mess eh? Interested in one comment that said words to the effect that 90% of us wish they hadn't heard of HUR. Well said that man/lady!!

Aduk
Sorry to hear you've gone. I had a feeling you might when I read the RNS - you mentioned recently you might bugger off if a sidetrack to 7z was proposed so it seemed that you were currently ready to walk away.
I find the RNS barely comprehensible, Dr T seemed joined at the hip to HUR so makes me wonder what (apart from a wad of cash) would make him leave his baby to others without seemingly a fight.
Anyway, continue to enjoy your life in France
John

LW, JS, DC, SP, thanks for the responses. Looks reassuring. Sadly the market wasn't similarly reassured!