Member Info for johnpwh

Yes I read about this E10 problem yesterday. A bit alarming. I would hope that the huge classic car movement would have some influence, the problem must be far wider than the list published. My Elise has the VVC K series engine, the same as Rover 25 and MGF. So do many Caterhams, Westfields etc etc. In fact the list you reproduced contains a fair number of my favoured classics! It isn't like the switch to unleaded where hardened valve seats could provide a permanent (if expensive) solution, not sure what the solution will be.
I did one of those driving days a few years back. Lamborghini, Ferrari and Porsche. The one I was least looking forward to was the Porsche. The only one I came away wanting to own was...….the Porsche. The others felt clumsy, particularly the Lamborghini which felt like a lorry to me! The Porsche fitted like a glove.
The classic (if you can call it that) which (seriously) I would most like to own is a Vauxhall Viva HB 1600. Pure nostalgia, I owned PVC 713G when I was a Maths student at London Uni. Would buy another in a flash.

Indeed. The 'new' Mustangs have quite a presence here now, big Ford dealerships usually have one or two kicking about the showroom and forecourt to draw people in then flog them some prosaic tin. Quite clever really. My own classic car wish list is rather disparate, ranging from 2CV and Minor Travellers, though mid 70s Alfa Spider (with Momo wheels) and chrome bumper/grill MGBs to Porsche 911 (or maybe a Cayman) and the alloy bodied XJ/XKRs. MG TF160's are stupidly cheap for what must be a future classic. Plus I will keep my little Elise of course.
All I need now is storage!

Like minds I fear. Loads over the years, Alfetta, Caterham, 2 Morgans, a 1936 Rolls 20/25, Bertone Alfa Guilia GTV (x2), Lancia Beta Spyder, Alfasuds etc. Currently have a 1999 Elise 111S owned from new. Will never sell it! Love Capris, driven a 2.8i but never owned one sadly. As a lad who had only ever been in Anglias and Moggy 1000s was terrified by being taken in a Capri 3000E! Vitesses are great, 1.6 and 2 litres from memory, GT6 were based on them?

Back to what we are supposed to talk about, will be interesting to hear an update in due course from Ivindri then, very much hope you are right about increase in ounces but not sure that is the purpose of the trial mining? As you imply they must suspect there is something more or surely they would concentrate efforts elsewhere - or as in Salinbas are they obliged to do some trial mining in Ivrindi or lose the licence I wonder.
I suspect that (purely my opinion) we may have to wait a while for any further RNS', but may continue to get titbits via Twitter. Will also be looking for Director buys. In the meantime the SP will just bob along with fluctuations of POG and the state of the Turkish economy (which I am pleased to not is no longer making daily news)

VanVan
I don't know what the economics are at Ivrindi, but having a rough guess:
Costs of say $600/oz, higher than currently being experienced at Kiziltepe in the latest update but less than that historically reported.
Gross for the JV £(11000 x(1200-600)/1.3) = £5m (say). This just uses the current gold price and ignores any other recoverables.

So £2.5m profit for each of the 2 JV parties, plus extra revenue for Ariana because of the sum paid from Procea to get Ivrindi into the JV.
I am assuming these costs would cover trucking and also necessary contributions to a sinking fund for the environmental work needed at the end of the mining. is that anything like right?

Worthwhile but does seem a dstraction

Hi
Twitter photos of trial mining posted this morning
John

I have to ask Paul, does the 280i imply you are a Ford Capri (or possibly a TVR) owner??

Serious question, do people still think there will be first oil in 2018?

Hi
I emailed info@ariana etc, as I did before when I was attempting to get permission to attend the AGM even though my shares are held with Barclays rather than being certificated (and hence personally on the register). Barclays are...er...not a helpful organisation. I received an almost immediate response from Ariana that time, copied into a mail from Dr S to his secretary, so it looked like he picked it up. I hope that will work again this time. We shall see.
I agree re wanting to know costs, but until we establish who has footed the bill don't feel its pertinent to ask. I'd look a bit daft asking for costs if it turns out to be the government paid! Also if costs were actually incurred I wonder how they will impact on cost per oz - what period would they be amortised over (I'm not an accountant). Still hopeful cost will be nil!

Re posters, I quite like this board as it is. The Advfn board seems to be full of rampers, derampers, people surmising on imminent takeovers and what the eventual SP will be! I'm sure there are some good ones though - maybe we are being a bit serious!.The board for Hurricane Energy on LSE has, in the absence of any news about the company, descended into a never ending squabble of name calling, insults and irrelevant posts (from what I can see anyway, there is often 50+ posts a day and I've ended up not bothering to look anymore). So am pleased at the level of informed opinion on here. I certainly have no issue with the list published by VanVan, its excellent. I'd personally like to hear of the Ivrindi and Kizllcukur deposits being proved economic and taken into the JV, I'd like the Tasvan timetable confirmed (because the cash flow is in my opinion important to continue Salinbas (and other) exploration) and I'd like to hear that the Ardala porphyry is a bloody big gold mine!!

Agree with both of you, very good points made. I think at the moment we simply don't know - I suppose we should be grateful that the existing road posed such a problem, if there wasn't a gold seam going beneath it then it wouldn't need to be moved!
As VanVan notes, it looks pretty well complete so must have been started very shortly after AS. I would find it disappointing if it is wholly JV funded so shortly after what we were told, but I also don't think its fair to jump to conclusions based on information we currently have - we need to ask the question, not pre judge.
I have mailed AAU and willl obviously post any answer received.

in4cedros
Just relistened to the Proactive interview and I see your your point - 'our ability to move the district highway'. Im hoping not as surely that would be quite a it, but we shall see.

Hi in4cedros
I am basing my opinion (that is all it is) on the America Square meeting in May. It was noticed from the floor that the photos showed the road running very close to Ardu South. When asked specifically about this (it wasn't part of the presentation) Dr S said that the government already had plans to move the road (think he said it was very bendy and dangerous further up, I may be wrong), and that there was a big road building program all over Turkey. He went on to say that eventually AAU would have to fund the move but would wait and see (effectively delaying scheduling that part of the excavation to a later date). Here we are 3 months later the road is near completion, and photos show that clearly hasn't just started this week! So either AAU decided after all not to wait and offered to at least partially fund it or didn't need to (which is obviously the best scenario). The answer from Dr S at the time didn't imply a 3 month delay would cause a rush to get the road moved. I agree that its justifiable for the company to contribute as they do benefit, but also maybe an indication of the Governments support of the project and the local employment it provides? Its one I will ask at the next meeting unless it comes out before.

Hate to admit it, but am now a Twitter fan following VanVans recommendation! Seriously, its worth it to see the output from Ariana, mainly pics and links to interviews, which is pretty much all I use it for.

The latest pic shows how the re-routed road has really opened up access to the Arzu South seams which I assume would otherwise have been left unexploited. As far as I am aware the company has not had to foot the bill for the road, or even contributed to it

I made the point about this not being a trading share yesterday
The SP behaviour of this share is hard to understand, a few of us do believe in its prospects and the Board of Directors, but as ever you need to do research and make your own mind up about its virtues The recent dip has, in my opinion, been more about Trumps attempted destruction of the Turkish economy than anything about the company itself.
Suggest you read the latest presentation available in https://arianaresources.com/presentations, also go through chats below and RNSs to get a feeling for what's going on.

One concern of mine is the plant, since there is no redundancy. As with all mechanical (and electronic!) items there will eventually be failures, if only due to wear. What happens then? I'm sure there are contingency plans but if, say, the only ball mill was out of commission then that's it until fixed.
Michael DV has 50m shares, say £700k at current SP. It doesnt surprise me that Dr S has fewer, he is a younger man wth a family so read nothing into that. Not sure news flow would preclude BOD trading unless that news flow is imminent or because something is known by the Board likely to significantly positively or negatively influence the SP. We will know in time. It is astonishing that all this is going on in a Company whose total Market Value is significantly less than a great many individual properties in Central London!!

One poster commented on ADVFN that they hoped the 2m purchase earlier was a member of the BOD. I have to agree with that, what better endorsement of the prospects for a company than substantial Director buying? True especially with a small company which suffers a Bid/Offer spread in the 5% - 10% range - this is not currently a traders share. Anyone buying needs to have the confidence that gains will (eventually) be substantial, and who knows better about prospects than the Board members?

VanVan
Will look up the Ivrindi ref, thanks.
Presume the probable intention is to bring Ivrindi into the JV along with Kizilcukur. Is there anything else (other than the whole Salinbas prospect) outside the current JV?
This is beginning to look very interesting. I have bought further shares (at 1.25, about 10 minutes before it was 1.14!!) but am determined to show restraint here. Already way over my head on this one.
The lira seems to have at least temporarily stabilised at pretty much its lowest point in the last few months. That is good for continued low costs for at least the next quarter, but I would fear the consequences for AAU if the Turkish economy declines further due to Trump.
Listening closely to the BBR audio broadcast (which I felt was more informative than the Proactive podcast) it sounded as if the work at Salinbas is going very well, although I did get the feeling that no news is imminent.
I looked on ADVFN, think Ill stay with the posters here, less hypothesising - posters talking about take overs and doubling the production at Kiziltepe which is surely not possible without expansion of the plant. As far as I am aware the existing plant is pretty much flat out as it is

Has changed now. On small purchase (these days Barclays only allow a purchase when there is already cash sitting in the account which I find annoying. Maybe its because I won a case against them with the Ombudsman!!) got an offer to buy at 1.3745. Progress indeed!

I stand to be corrected as I don't want to mislead, but FSCS covers £85000 on deposit (cash, so applicable to BS deposits) or £50000 for investments (so shares, trusts etc). That is per person, per firm.
So means that everyone should in theory split SIPP investments, ISA investments, and non-ISA share dealing accounts between as many institutions as is necessary. I asked this question of Hargreaves Lansdown and got a very comprehensive and detailed reply - however ultimately the answer was only £50000 was safe!!
With the current situation of virtually all young people investing in DC pension schemes surely this should be changed by Government?

Yes I saw that soo put a mock purchase in myself and got a 1.29 quote so not convinced!

All is explained, me being thick. There are multiple Kizitepes in Turkey! Not surprising then that putting Kiziltepe into a translator I get 'Red Hill'. I suspect everyone except me knew that! Sorry

I imagine then that Ivrindi is a bit like Newport in the UK then - there are lots of them! Funny you should say what you have, I had already come to the conclusion that the 'other' sites were about building a strong, maybe debt free, company to exploit Salinbas in the fullness of time. I don't expect this company to be making distributions from the current JV properties. This is, of course, purely supposition and a lot would have to go right for that to occur.