Member Info for raredragon2u

Dear Ash
We are all fit and healthy and completely bunkered down enjoying the beautiful sunshine when we venture for our daily exercise and ration of fresh air.
Thank you for the generosity of your time, by providing me with a reply to my queries. I have looked at the June 2019 Interim Report to identify any financial information i.e. current receivable for this item. Alas there was nothing that I could identify.
You recalled my reservations regarding the SP. I also did not press the trigger, afraid of the price to come back in, the spread was almost 13% and 3.5 was not offered on the sell. Is Aau becoming a Sentiment share? How closely and therefore is it a proxy share for the gold price? I personally am disappointed at the market’s reaction to the 1st quarter’s production. 14% ahead of budget. Record material movement is a commendable effort during these difficult times; it underlines Zenit’s capability and capacity to move significant material from the satellite pit workings thereby adding flexibility and hopefully opportunity for improved grades of material, Given current fuel costs at this time. It could be a useful debate, or whether to expand the processing capacity; a 2nd ball mill during this time. I for one would be satisfied to wait, preferring the longer LOM parameter given our low cost of production $500/oz or lower. With a gold price of >$1700/oz, a tidy margin to benefit the shareholders hopefully: rather than to be used up in rewarding bonuses. I watch this space with interest.
Best wishes to everybody and keep safe

RD2U
No I am definitely not the ghost of rugby, dick or Richard or by any other name
Does anyone remember Dave the Grim, a wizard with his charting techniques!

To the regular members on this board and also to welcome all the newbies who have expressed their support of Aau, after undertaking requisite research, as well as the rising Au prices. Can one of you please help me and remind me of the current position “resulting from additional reserves discovered” and added to the mine plan in the Red Rabbit JV. My memory recalls that Aau would be credited or paid for the additional ounces discovered, resulting from their effort and costs incurred obviously! I recall Aau were to be paid 3x? Given the exploration efforts in the Red Rabbit area, how is this benefit now being captured? What about Tavsan? Has this number simply been folded into the new JV arrangements or what? Presumably these costs have been lost, or comprise Aau’s capital contribution in the new JV and no longer compensated directly. I would be grateful if anyone can throw some current light on this situation. Ash my bet is on you to provide the most comprehensive answer, but let this be a challenge to all the newbies too. Ash how are the technicals looking? Where is the RSI?
Most importantly to all of you as well as the BOD and all employees of Aau I hope that you and all your loved ones are safe and well while this horrific pandemic takes its toll.
Best wishes
R D 2 U

This message is aimed excuse the pun not deliberate. Reading the board recently there is in my opinion an element of bullishness regarding the SP. And the SP being under priced. I was very glad to receive an important bit of technical data care of the fundi, which is Ash. For those not familiar with the word fundi, you will have to google and check out the Wikipedia meaning! Not only is Ash a master of the AAu fundamentals, he is also a wizard who is knowledgeable of the dark arts and technicals when he advises that the RSI is currently only 68%? What time frame and what horizon period is this from? I presume daily and annual period n’est pas? Are we at the point where we should be “fearful” rather than greedy? Interesting Ash you posted your average of PP of 1.75P This assists me to gauge your bullishness and confidence of an increasing and higher SP. I did not wish to label you in the category “a ramper” . You once posted a message a couple of weeks ago setting out aau’s strengths and weaknesses, a mini SWOT analysis, in very clear terms. You left out your own target price, leaving it up to the individual punter/investor/reader to determine their own their own target price. At these levels I am close to my first target price and I am weighing up whether to de- risk a portion of my holding! With an average of 1.45 PP it maybe in my best interest to realise some of my gains. In my experience I have held on to shares too long, especially aim shares and watched my holding diminish by 90%. Not this time I cry! I have some big losses to recover , so the posting of a SP of 6P! suggests to me that I should be fearful!!
In the mean time I wish to congratulate this board as I have enjoyed its contents for several years and find Ash, Van Van , John and desert Joe whose contributions on this BB as well as other goldies like HUM, SHG are all very informative and have helped me in this period of stroke recovery as I no longer have the mental dexterity and research capacity that I once did.
Best Wishes to you all
RD2U aka Rory the Rhodie

thank you crude let me reciprocate your meessage during this period of good will to all,yes i also hope for a prosperous new year. at least i can use 20 20 hindsight and not be called out for any inccuaracy.
best wsihes everyone

rd2u

Dear Folks
Merry Christmas and all the best for 2020.

With yesterdays rise I was getting concerned of the possibility of a rights issue. With todays minor correction hopefully it was just a ghost of Christmas pass! Does anybody else think a fund raise could occur to bolster the war chest, as I personally am not convinced of dividends given the funding plan and significant investment for production ie: Tavsan etc.
Best wishes
RD2U

Hello Ash and VV.
It looks to me like “birds of a feather flock together”, as we share, in identical and very similar gold mining producers besides this one. Shg, Aau.
I sincerely hope that this “saying” has some truth. As I sure could do with some Xmas cheer and a happy and prosperous new year. Fyi, I have two other goldies besides this one from a number of years ago as VV said before the problems and other global events. - I am sure you can guess them. For those who have been around a long time. The moniker, TornadoTony and Dave the grim. I am glad that Noel Shempsky, has disappeared again, hopefully for ever! please don’t think I am stalking or accusing anyone of trolling. As I said hopefully, the saying has truth.
As for Ash you truly have my vote when it comes to being balanced and informative in all of your postings that I have seen over on Aau . I know that this board will be richer in knowledge and hopefully in wealth too with your posting contributions.
My good friends best wishes for Xmas and New year.
Rgds Rd 2 U .

Thank you Ash,
From the smelting process which takes place in the gold room, Following smelting you turn out Dore bars. The Dore is sent to the gold refinery in Istanbul again a stock adjustment. The refinery figures would equate to gold bullion sales. Not sure how the silver is being accounted for gold equivalent ozs?
See this link.
ww.google.com/search?client=firefox-b-d&q=gold+dore

rgds RD2U

Hi Ash, I believe that there are adjustments to made for opening and closing stock depending upon where you are in the process, from the pit to the rotary crushers. Then to the ball mills to develop mine feed which is then introduced into the elution tanks. This process is very carefully measured and monitored providing recovery performance measurements, 93.7% etc. These measurements are crucial in determining if any adjustments are required in the recovery process e.g. the period of time that the solution is allowed to bond. Also whether more activated carbon should be added and if so how much. I hope this helps to explain the difference, not much you can do about the financial model though! It is more than 40 years ago that I did this type of work at a working goldmine! In addition to my latest handicap, being a stroke survivor.
The adjustment that CK offers also seems sensible and I cannot confirm or reject. The variation you have of 497 ozs. 497/6933 = 7.2%.
Here is a link to the recovery process of what I am trying to explain, elution tanks etc, for cip process. I am not a metallurgist.
https://en.wikipedia.org/wiki/Carbon_in_pulp
rgds
RD2U

Hi Ash
Many thanks for the detailed info. To me you have taken, your commitment at 23:41 truly remarkable. Above and beyond your duty and appreciated highly by me. Also your further commitment re “build a forecast”. Totally agree about revenues, profitability DcF calcs that would be truly impressive.
Zwakanaka vakadaaro mes ami.
Rgds
Rd2U

The revelation about the discovery of the £7million overdraft appears to have caused some consternation amongst board members!
Does anyone recall the level of funds received in exchange for the Net Smelter Royalty and in respect of which assets. Red Rabbit? Tavsan? Any others?
Tavsan I think it has a 2% NSR, with gold at $1,500/oz equates to a lot of money now! Does anyone know the” ins and outs” of this one ? How about our resident accounting and tax wizard ASH? ARE YOU UP FOR THIS..
It looks to me like the directors are “quid’s-in” and should be swimming in cash,less what they spend on everything – the cashflow information will be useful.
https://www.sandstormgold.com/our-royalties/tavsan/
I recall gold production to increase to by 30,000 oz’s per annum

Rgds
RD2u

Yellow jersey PR
Has anyone listened to the audio of the conference call? I have searched the website over the past two days and have not found it.
I emailed yellow jersey no reply to my mail of yesterday.

Can any one please assist?

Many thanks in anticipation. i would like to listen to it.

My apologies’ to my fellow members for posting a reply to a message posted almost 24hours previously. I know so much has happened since not least, theSp and the movement in the price of ag. glad to see the door to $1,500/o is being knocked on again. Actually relieved to, given the underlying technicals, yes the call did not have the right effect on the SP.
MY tardiness is entirely due to my reduced capabilities and restricted availability. I hope that I obtain your forgiveness.
The message caught my attention my last night. All the points raised I completely agree with ,share, and empathize with, having also been caught out with given the shenanigans that AIM companies appear renown for unfortunately. That is the reason IT gets a vote from me..
Ash are you a Rhodie by chance “SHOOT RHE BREEZE?
My tardiness is matched byellow Jersey PR.

Also my sincerest gratitude toV,V,john,Aash and joe, for their excellent contributions not just about the phone-in, but also more generally both now and in the past. Not sure about cauliflowers yet. I for one greatly appreciate and hope that they will continue to contribute especially now that I have these unfortunate limitations placed upon me until we reach our nirvana.

Does anyone, know when the conference call will be available to listen to on the website. Battling with technology and dexterity and vision many thanks rd2?

Not to put a downer on it but I thought that Salinbas was the elephant in the room or not? But clearly it needs to carefully examined and the Pfs in the offing, given the emphasis the Bod appear to be giving to this license area. As regards the physical size of this area. This license and its contiguous license areas which I imagine is fairly tight with the Ardala and the hod maden etc prospects. Is there enough physical room for all these mining activties.
I wonder if they are in discussions with Sandstorm gold aka Mariana. As we all know Ariana has entered into a 2% NSR commitment on the Tavsan License area for funding received for advanced exploration, previously provided. Sandstorm has lots of cash. They also wish to establish a producing mine in their license area and have entered into a JV agreement with a Turkish company (Lidya Madencilik) to develop the mining activities and refinery. My anxiety in this regard stems from the physical area, is it large enough to accommodate all of this mining activity. This is in addition to political will and public Sentiment. Hopefully Ariana and its JV partner Proccea Construction have first mover advantage. I think a tie up with Sandstorm has good possibilities subject to the usual caveats. Coordinated planning to me seems a prerequisite, EIA’s, road construction addressing the local inhabitants needs is a must after the recent publicity. It will be essential to have the commitment and support of all the relevant stake holders for this to work, let alone avoid unnecessary delays. All in my opinion of course.
Rgds RD2U

Good morning members
Good work Ash and your commitment which I compliment you on. Definitely a lot of material to cover. Given the announcement today, I would be interested to know if this is the Turkish Republic of Northern Cyprus which some posters surmise as I do. Or Cyprus? They each have differing levels of risk. I am mindful that a double taxation agreement is in place between the Republic and Turkey I believe.
Rgds RD2U

Why would the Bod wish to incentive employees with shares that they cannot readily sell? Hardly aligns employee aspirations with rank and file shareholders.

Thank you Paul for your reply. Now what you say I have some recollection. The info about the expiry is helpful
Rd2

Hi John, Ash and Joe, thank you for your warm wishes of welcome & your expressions of concern for my health which are much appreciated.You are 100% correct Joe.I did not post on ii as I did not believe I had much to contribute at that time & hence did not have a moniker & left it for the reasons that you have outlined. You can rest assured I am not Dick from Rugby, if I recall that moniker correctly.I am neither a ramper nor a de-ramper but an honest investor.Regarding the discussion on divs vs share buy backs, I am glad to see my memory is not too bad.I did a quick search of RNS’s and I see that there is already precedent.I am copying the relevant RNS’s from January 2019:
Ariana Resources PLC - Purchase of Own Shares
Wed, 16th Jan 2019 07:00
RNS Number : 1946N
AIM: AAU
Purchase of Own Shares
Pursuant to the general authority given to the Company, Ariana, the exploration and development company with gold mining operations in Turkey, announces that, on 4 January 2019, it purchased a total of 4,500,000 ordinary shares of 0.1 pence in the Company ("Ordinary Shares") at 1.483 pence per share (the "Purchase"). The Ordinary Shares will be held in Treasury.
The highest and the lowest price paid was 1.483 pence per Ordinary Share.
This represents 0.43 percent of the issued share capital of the Company (excluding treasury shares).
Following the purchase, the total number of ordinary shares held as treasury shares is 4,500,000.
As at the close of business on 15 January 2019, the Company had 1,051,637,937 ordinary shares (including treasury shares) in issue.
This raises several questions.Q1 - Is the authority still valid?For the life of me, I cannot recall the terms of this authority.I have had a cursory look on the Ariana website to locate the authority but have been unsuccessful.Given the reply from Ash who seems a wizard on the Tax, I do intend to raise this as a question so we can start from a common position.
Q2 – The total number of shares and value amounted to £66,735 which the directors elected to fund themselves.The shares were not cancelled given that they did not have adequate reserves as Ash has articulated.I find it pitiful that the directors & company secretary were not aware of this prior to this action and to me, it goes to the heart of their capabilities.This appears to be a complete shambles.I believe that this needs to be investigated and clarified, do others agree with this way forward?
Dividend versus share buyback
I am persuaded more towards share buybacks than divs which does not appear to be the consensus of this board.My reasons are simply that a div of 5% would equate to £1.2m & given pipeline requirements I would prefer to forego the div as others have indicated subject to tax considerations, etc.I am mindful that the directors from their personal individual tax perspective may have a different position from the above ie they would be subject to tax on their divi.I shall raise these issues for discussion on Tues

Hello fellow investors.
I have not posted on this board previously but have been an avid investor and reader of this board, having migrated from iii.
My health has not been conducive to too much activity unfortunately, being a stroke survivor with poor vision and limited cognitive skills. I try to not let anything get in my way. For this message I am eternally grateful to my loving wife and carer.

My question would be to elicit views on shareholder wealth and how to increase it, dividends, I know have been raised and I am sure will be asked. What about share buy backs? Do board members see this as irrelevant given pipeline investments, Tavsan/Salinbas , thoughts please? There was an earlier attempt which I recall failed. If I recall correctly was due to the company not having the correct shareholder mandate to do this, given the company's articles – any plans for this in the future? Given a market capital of £24 million and 1 billion shares and the loan almost repaid by April 2020. Importantly the tax implications need to be understood after tax profits in the subsidiary? What about CGT at the Aim listed company level . Are there withholding taxes on flow of funds from Turkey?
Many thanks RD2U

i have learnt a new word thank you. Crude yes. CCR I remember them well - we had seasons in the sun. i am a rhodesian Alf huthchison a rhodesian dilemma you tube Rd2u