Member Info for MasterG

Van the explanation sounds utter rubbish. The accounting figures need to be produced on a consistent basis. You cannot change basis from one period to next, unless you disclose the change of basis. Then you the amend the comparatives to be on the same basis. Therefore you can compare like with like. Whoever has given the explanation is clueless. They need to come up with a better answer.

Hi John I am rather surprised by price of AAU shares.

I would be interested in the current cash cost of producing an ounce of gold for Zenit, now that Tavsan heap leach is up and running.

I have taken the information directly from 18 November 2024 RNS stating the cost then:

" Kiziltepe remains a highly profitable mine and the partners intend to maximise the returns from this operation over the next few years. With a current cash cost averaging US$1,450 per ounce, partly reflective of the additional costs of Tavsan, Zenit's finances remain robust."

Gold price then was around US$2,650, giving around $1,200 dollars cash surplus per ounce, not necessarily profit.

Considering it was profitable at around US$2,650, imagine what it is going to be at around the current $4,000 ounce price. This will give additional windfall of around $1,500 per ounce multiplied by 30,000 Zenit production next year gives $45,000,000 (Windfall profit), nobody could have realistically predicted the gold price to be where it is now over $4,200 per ounce. The heap leach process at Tavsan is supposed to be cheaper than CIL at Kiziltepe. At current gold prices Zenit will became awash with surplus cash next year, which can partly fund dividends to the partners and balance used to develop Salinbas.

Cash is key here and soon as investors realise that it is forthcoming Ariana's way, its going to have a major impact on the share price. Signs to look out for is the first pour this year and commencement of commercial production early next year. Its case of being in situ before its takes off and and hopefully enjoy the ride.

I am not going to dwell on the past, as I have been invested here for over ten years whilst others have been here for much longer. There have been plenty of disappointments along the way.

I am still holding and been adding recently in anticipation of both Dokwe and Salinbas make progress simultaneously to deliver added value for sale or near term production.

DYOR

Van I was going to post a reply to you on ADVFN, as I am also on there. Just too much noise there at the moment. I doubt if they will get something basic as that wrong, and no doubt will be already getting the relevant resolutions ready for the AGM. Simply too many advisors involved in the merger and annual accounts audit to get it wrong.

Please feel free to post it on ADVFN.

Stranger, Van

Stranger has already referred to AAU articles of Association, which gives guidance to follow.

If you are further interested in the type of resolution required for the authority to issue additional shares. You need not look much further than the resolutions passed on 29 June 2023, filed at companies house. (Filed 14 July 2023). Board authority to allot new shares is under section 560 of the CA 2006. This is the authority for resolution 7, authorising maximum number of new shares to the value of £500,000 nominal value with a split between new and existing holders of £250,000 nominal each maximum.

Resolution 8 is waiver of pre-emption rights which requires a special resolution under section 561(1) under CA 2006.

Resolution 9 is the authority for the company to purchase its own shares under section 693 CA 2006.

Special resolution has to be approved by 75% of those voting.

The authority usually lasts from one AGM to the next and requires renewal at the next AGM.

By my reckoning the authority will need to be increased to issue all the shares, required for the merger.

The information is in the public domain for you to search and gain insight.

At this moment in time, I am in favour of the merger and will vote accordingly.

We all have a decision to make based on our own particular circumstances, our aversion to risk and timelines.

Van I do follow what you post on AAU on the other BB.

Stranger your rare posts usually make lot of sense.

DYOR

A J Bell has paid in.

Not only the spread is huge, cannot deal in any size as the normal market size is only 15,000 shares. Its been the case for number of years. I would have added some, just did not want to do it in such small quantities.

I will just sit tight at the moment, with what I have got and wait for value to come out eventually. Its beginning to look that way with the payapps money banked.

Near term hoping for some good news regarding ALTE Share Investment, which could turn to be an astute move by the present Board.

Most of us who are holding seem to have been here a very long time, with the company having had number of name changes over the years.

We could do with a dividend stream starting in the very near future, for the long suffering shareholders to get some value returns.

Still waiting outcome of DD, almost four months since the announcement of the potential RTO.

It's supposed to complete in the 4th Quarter, if everything checks out and price is agreed.

Just hoping its on schedule and completes, the share price certainly can do with a boost.

Allocated in full up to £1000, plus 56.242% of the value of the remaining application up to a maximum of £20,000.

Retail Offer: HL message not received the shares trying best to retrieve them this morning. AJ Bell credited them to account last night.

£125m will not need to be raised in cash, it will be via ALTE Shares issued to that value. There will be an amount of cash raised for working capital purposes by ALTE. The key here is the price remember PRIM put £350,000 into ALTE partially for seed money at 4p a share and also got some shares at 10p per share. PRIM may well have some warrants, for obtaining the listing for ALT. PRIM has about 5 million shares in ALT.

I believe the ALT is on the main market as opposed to aim, the listing is worth something and we will find out soon its value. Supposing the issue price of any new shares is 50p, 75p, £1 etc. Its going to have major impact the value of PRIM's holding all be at a much reduced percentage holding. PRIM has market value of under £5m currently.

DYOR

There was Aus$2m left in the kitty for the Asgard metals fund. It was was launched with that amount to invest Aus $500,000 in each new project initially. Details in RNS July 2021 and amount for the source was mentioned in one of the interview by KS. Some of it must have been used elsewhere.

Agree PR is noticeable for its absence, I am here for the assets and future medium term value. I would rather be here than where PR blows lot of hot wind and poor PI's get diluted time and time again. To many people want to get rich quick on AIM, unlike many others this has real value. Unlike lot of AIM companies where you could end up akin to losing your shirt gambling and only being left with taxi fare home. In my opinion risk has been managed well by reducing our reliance on Turkey. I have added in the last few months and may decide to put some or all of the dividend back in if the price remains low. I think value will come out sooner or later and I await that day.
DYOR

its just matter of time before people realise the value to be had here. It has allowed LTH's to add to their holdings whilst we are still under the radar.

Capital Reduction filing should processed and accepted at Companies House sometime next week, it usually takes 10 -14 days from filing. Expect the Special dividend to be announced with the approval of the audited accounts once capital reduction filing accepted. Lots of other news pending, which can only be good for the share price going forward.
DYOR

Should get the Court Confirmation later today. Which will give the company authority to file a reduction in capital at companies House, once accepted we can look forward to a declaration of special dividend in July. Hopefully paid in August.

Had a look at quick look at MTL. Still lot of debt and negative asset value at year end, long time before any chance of dividends. Prospects are much brighter here with near term income stream likely and very little debt. Partner with lot of clout in Turkey to advance projects, AAU diversifying away from Turkey reducing risk further. I for one expect good news soon and will stick with AAU until full potential is realised. I have continued to add over the last few months and now await the special dividend. Long as the company continues to have good exploration potential and backs it up with results, I will stay put for the long term.

Board Changes announced

Resolutions on Company Website. It may take bit of navigation to find them.

ANDY you are doing a great job. They say cometh the hour cometh the man. You certainly are the man and without you it would have been very difficult to galvanise the PI's into action. Thank you and others involved in the action group in giving the PI's fighting chance.

Just Done. Keep up the good work REDBIKE your efforts are really appreciated.