Member Info for Tracylied

I have 6.3m remaining shares so will not be going anywhere. I will buy back those I have sold in due course at a lower price. Simple really you can't just look at the company you have to also look at the investors. The greed for a relatively small amount will cost every shareholder much more. This time of year when the management are on the beach getting winter sun for a few weeks the share price will drift. They will be back 3rd week in January with a chirpy operational update to cool any unhappiness. Unfortunately seen it all before. Leveraging your holding simply makes sense and reduces your exposure.

The mindset of selling at a loss is a strange one. I have never been frightened to take a loss because if you anticipate a profit on every investment you will be very disappointed. It's more a matter of how long it takes rather than if there is a profit. However if money can produce more elsewhere then hanging in just to realise a profit is crazy. There are times to buy and times to sell. Right now I would buy again at 1.10p once the impact of the greed has been felt. Nothing wrong with increasing your shares on the ebb and flow of the market. Blindly holding and waiting is just not a viable tactic and it suffocates the market.

So they have solved the liquidity problem. I guess they deserve a bonus for that now. Gone from nearly impossible to buy in quantity to impossible to sell even 100k.

The deciding factor for me is the fact that at the first sniff of a inflow of cash to the company they reward it to themselves. They have done a job of work and nothing else. I fail to understand the decision making process around it after raising funds in such a poor market. I am but a small shareholder with a meager 7 million or so shares but in a market with microscopic volumes traded a few small shareholders exiting could hold this up for a very long time. Hiding behind the remuneration committee is a common tactic in times like these. Make no mistake fat greedy fingers are in our cookie jar stealing cookies we have paid for.

I sold about 10% of my holding today in 3 chunks. My 250000 sell showed as a buy at 1.35. It was actually transacted an hour earlier than published. Cold today in the med with very strong north easterly winds much sums up my feelings towards the board. They are half way through a decent job and they stop for champagne and medals. Really they are just doing the job that they are paid for. No more no less. Today I voted with the sell button for 700k+ shares I suspect others will also. In a stroke undoing all the presentations and spin in one act of greed. Shame on you.

I think it is a real shame about the RNS today. It does show a lack of grip on the reality of the situation for micro cap companies. Raising funds is fine but those funds must create value for shareholders. Biting the hand that feeds is never a good strategy. Bob Foster did it at Stratex and then pi553d away funds. Sad and a real shame. I guess people will vote with the sell button.

I think the exceptional performance of the business is reflected in the payments and options. The problem is that the value to shareholders has not been reflected. It's always very rude to eat before your guests. Stratex made the same mistake and shareholders turned their back on the company. It's going to be interesting. A nice Christmas present to themselves and two fingers to the shareholders. If the share price were 3-5p then no problem.

There have been several larger buys recently. Looks like someone may be accumulating a respectable holding. Still very cheap.

It's remained difficult to buy in quantity and the trades have been held up as a result moving through in batches. Liquidity remains an issue.

Yes end of June start of July in Turkey however they were not at full mining capacity in June. Some of the fleet was being used the finish some other works at the tailings and stockpiles. Since the extraction and transportation reached capacity the daylight has been reducing as is the volume. However there is plenty of capacity for the winter.

A little bit of volume at last.

No coincidence that the best mining performance was in August with the longest hours of daylight.

Extraction is mining and transport to the stockpile and production is all done at the plant. Production of gold from the material. Production is all automated and is always 24/7 unless there are restrictions in the permit. Production is in several processes with stock between so any part can be shutdown for maintenance or repair without impacting the next part of the process. Mining at Kiziltepe is technically simple and the pit is very close to the plant. There is nothing to be gained by mining in the dark with another shift at this stage. Earlier this year in one of the presentations I believe Kerim mentioned the shorter winter days and mining. Of course you can just ask him.

Interesting choice of words but it literally means the production from the pit and not the extraction. This was back in June when the plant was moving from trial into full production. The capacity for mining and transport will be much above the hourly rate of the plant as the pit is so close.

I wonder if a ban on CFDs and similar products would bring more cash back to the market. Of course they would be replaced with some other non contributing scheme no doubt but it is an interesting thought. These contracts that don't result in any market trade are a big part of the problem junior markets face. It could happen very soon in my opinion.

The winter operations will be the test of the sustainability of operating above initial design capacity. January and February are often the worst for volume of rainfall and potentially snow/frozen ground. The stockpiling if adequate will see them through will reduced mining on the shorter days of winter. The processing plant runs 24/7 but the mining is daylight only.

Share availability is very tight. Just one moderate 1.1m buy and it all closes in. I conclude that there is no liquidity at these prices and the share price must rise.

Not at all negative. I would expect any explorer to spend any income on exploration. I don't think that they will ever be cashflow positive as a whole business. Value will be achieved by developing assets and either selling or producing from them. So far they have a small production interesting but the real payday will come from the sale of Salinbas. Who knows what they will do with the cash. If the share price is still at these levels they may even buy their own shares back. They may pay a special dividend or they may finance Tavsan. Who knows; first thing is to dress Salinbas up with cheap samples.

I would be surprised if the company are ever cash flow positive. Kiziltepe will certainly be profitable and that will result in profit for the JV company and ultimately Ariana. However I expect them to spend every cent. The JV of course will be profitable now but no doubt they are stockpiling a slush fund prior to any payments. An operation like this needs cash to operate.

Of course they could earn in a JV partner but that limits the options and really puts Ariana on a long term return which I think Kerim will want to avoid. Ariana are first an exploration company and only a producer because of the limited funds for exploration. Add up the drilling metres Ariana have done themselves over the last 5 years it is pitiful. They can afford to kick some rocks and little else.