Member Info for levistubbs

Quite a bit of presumption there Strangerstill but fair enough.
Ariana wouldn't have developed Salinbas by itself, that is why it stood so long without a further drilling programme.
Imo Ariana would not have made that commitment to Venus dependent on receiving the Ozaltin money which was not definite at that time. It's not how Kerim works, far too conservative and cagey for that but we will never know.

Strangerstill Ariana would have got to it's 50% of Venus without the Ozaltin JV money. They were already well down the road to that holding prior to the JV and any remaining money would easily have been covered by money from RR.
The issue is what are we doing with the bulk of the money from the JV and for me is responsible for some of the weakness. We were promised investments but all we have done so far is put some seed money into a jam tomorrow venture looking for metals in Eastern Europe.
As John says after the Venus Ipo we will probably be left with less than 30% of Venus so one would hope Ariana take part in the IPO to keep a high %age in the absence of promised investments because it is doing no good sat in a bank account especially if that bank account is in Turkey.

Surprised at the large fall back on small volume.

Yes I would agree with that John.
As things stand time is getting tight to get things up and running for 23.

Bonker as there is yet no specified divi over and above the special divi and as Tavsan continues to slip behind, bring over 2k per oz might make little difference in the short/medium term.
However news of the divi continuing might just be the kick in the pants this share needs.
However with Kerim at the helm and his number 2 somewhere in the background I won't be holding my breath.

They have clarified part of their mistake, certainly not how many shares were issued or the actual average value which is below a penny piece.
What you are missing though is if they are making mistakes like this then you have to wonder how well everything else is being done.

Hopefully we found the bottom today John and bounced off it.

Very unprofessional this morning from Caracal.
Doesn't send out a good message but they are not the best at putting together RNS.
Wonder if we will get another clarification as the original clarification is shoddy at best.

Seems to me this isn't going to come back. They have had more than ample time now to sort this out and it looks like shareholders are going to get shafted.

Small top up for me .

It's all very quiet. Not the start to the year we all hoped for but hopefully things will improve.
Darren's traffic cone inspired explanation of the wishbone drill would suggest we gave the vms a glancing blow and missed the main event due to it being turned 90deg. So hopefully we can still find something there and with any luck we might get something more tangible from Dotted.

Nice news. All falling in to place with extension of the open pit. Drilling to start soon.

Thanks for the discussion John.
It seems the only route to finding anything out is through Yellow Jersey these days and they pretend to know nothing or told to say nothing and are about as useful as a chocolate teapot.
So we will just have to wait and hope.
Meanwhile value ebbs away.

And if there isn't any $$$ as all forex is being used to buy gas John?

Certainly a lot of questions raised about Turkey currently and could be one of the reasons why we keep shedding value, that and our lack of promotion, a CEO who works far too remotely from the project and a Chairman who is invisible for 95% of the year.

I hear you John, but how does that figure when the Turkish gov't has been taking forex from companies within Turkey to pay for imported gas as exporters don't want to touch the Lira. And how does that square for us getting paid in $$$?

Strangerstill I think the expectation was that a chunk of the money from the new JV would have been put into a much nearer term project than the one (West Tethyan) we have had so far. The wording at the time in the RNS said as much so either they are still working on something or we were persuaded by an overly ambitious statement.
I really don't like that amount of money sat in a dodgy Turkish bank at the whim of rampant inflation.

Holding very tight sherwood.
This has the potential to be 20-25m mkt cap in short order once the mining licence is issued for Namibia and then increase through the rest of the year as we work towards production. And then there could always be good news from Sandfire and/or FQ on our other projects.

Excellent post Older'.

is too remote that should have said.