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in4cedros yes solid production figures will help but what is really needed is no more cheap fund raisings to prove up more ounces at RR and he needs to say it. If anything today has proved is that by raising cheap money to add more ounces to the RR project is not going to add to the SP, no more drilling should be done there until cash is flowing in to cover it. That said I am sure he will want to get busy with the drill, it's what he knows.

Sorry, it being Salinbas.

Northy I don't think you did very much research on this before buying in? The SP is where it is as the penny has finally dropped with many that there is not going to be enough income in the short term to cover expenditure and therefore a raising is inevitable. Although I thought the presentation quite decent, Kerim was again quite elusive on income and expenditure for the year ahead. He had every opportunity to set out what was required but didn't. If he mentioned the company was funded for the year ahead then I am sure the SP would be rising again. That said the news from MARL and Hot Maden should be enough to gain some more traction here may, especially now that PG have finally said something (a bit) positive about it.

Agreed in4cedros. Btw I must congratulate you on your unwavering enthusiasm.

in4cedros I still believe Salinbas will be AAU's best asset with it's proximity to HM but I am less convinced than I was having read what 4kandles posted about a lot of it being in difficult territory. The difficulty and challenge is unlocking the potential there for reasonable cost. Of course RR is the first and producing asset so is currently the best asset. Fantastic potential though, I wouldn't stretch that far ;-)

wiltshireman I am sure at certain times of the year the mine site can be a little unforgiving but don't get dramatic about it, the climate of Turkey is very good for the majority of the year and there are much worse places in the world serviced by very successful mines. I myself worked in the mining industry for many years as a coalface electrician on my hands and knees and so I know where I would sooner have worked and be on much greater remuneration. And a lot of people throughout the world do a lot more cra**y jobs each day for a lot less money so lets not pretend Kerim has had it hard. So I am not preaching from a comfy armchair, I have actually worked in mining and in a much more unforgiving place than a mine in Turkey. Neither am I suggesting that Kerim has not done a great job. But lets not lose site of the fact that he has made a very good living from it and can afford to live the good life in Oz.

in4cedros I think we have had this conversation before about Salinbas and as I said before it was your interpretation of what I thought about Salinbas which was wrong. I never saw AAU as Salinbas with RR tacked on. My beef was that there was potentially a lot of value locked up in Salinbas and nothing was getting done with it and no value for it in the SP and that is why I was very happy for it to come back in house. My hope was that the company may have another JV partner lined up to help fund it in a much quicker timeframe. Where I have been wrong in that is that after the initial fillip to the SP, Salinbas is now just seen as another funding requirement with lots of explo needed and possibly more dilution and is now more of a millstone.

Correction 898m shares in issue.

Tracylied I think it is fair to say looking at the graph since it's inception and taking a 'very' mean average of 2p with 841m shares in issue that Kerim and AAU have burnt through some £16-£17m over that period. Given the mkt cap is still some way below that I think it fair to say shareholders have had a raw deal while Kerim & Co have made a very good living. You say 'actual profit is now very close, certainly well before the demands on the Ariana budget' - hang on to that thought ;-)

Ahh yes like it pays for the RR exploration somewhere down the line. Wouldn't say £16m was a shoestring and I doubt there will be much money to distribute certainly not enough to pay for the busiest year.

Sirious it's not rocket science. The production is within a JV company, the majority of the income is going to go to repay the loan for the foreseeable future. AAU will continue as an exploration company that will need to fund drilling of more RR, Tavsan and now Salinbas. Also for the foreseeable that is likely to continue to come from raisings. That said 'the busiest year' lauded by Kerim seems to have got off to a very slow start so may be shareholder rumblings have got him to reign the spending in a bit.?

Tracy it has always been a matter of choice and strategy and that choice has always been to dilute and continue even at inopportune times. He has already said it will be the busiest year and has his geos to keep happy so I don't see anything changing.

Yes in4cedros, I think we both agree that some clarity is required.

in4cedros I agree the lull could be due, in part, to shareholders and investors awaiting production figures but I think it is also due to many being on the side lines wondering how the company are going to fund 'the busiest year yet'? Once that is clear(er) then more may have the confidence to buy. I apologise for bashing on about Panmure Gordon but I feel they are also complicit in the malaise and not done anywhere near enough the job that Kerim brought them in for IMO. Of course I think the company need to show they have grown up too and leave the Beauforts of this world behind.

@Robches there is no doubting the company has done well to get this far but it has taken an age. You say it is the wider investment community's lack of interest that is holding the shares back, but why? Obviously some way somehow the company are not doing something right to get the message across. Kerim brought in Panmure and the new chap to do exactly that but as yet they have added no institutional interest and with their very conservative broker notes they are unlikely to. When all sorts of crap on Aim command greater followings and sometimes much greater valuations than this there has to be a reason. Unfortunately I think there is a lack of trust with regards to the company going forward. The company need to lay out cash requirements, a better vision of income and be upfront as to how far out the company will be from increasing production.

Now a £2.5m company has a President and Vice President ;-) Bought another 40,000 but not showing up anywhere.? Good to see Shard added too.

Great work Lotto

If the PJ copper and lithium assets are any good that they might float them off separately to one of the guys they know. Seems to me they are way short of being far enough down the producing cycle for DL and the crew to spend time on them but could add a nice bit of value to the company for very little effort.

The more I watch that video the more excited I get. Wonder who the new faces will be? So precious metals and base metals. I reckon a gold and a nickel project. Good times coming folks.

Wow brilliant interview this is going to be big guys B I G!!