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1.6p is looking very comfortable this week. I suspect we will have 2p at the end September into news. I think it will briefly breakaway before dropping back below 2p week after news. 2.5p will be the target for end of October through to the end of the year.

I think that is a good shout near term. Much depends on what else is going on around news time that sucks up attention. Often the events that grab the lime light are just steps along the way. This first quarter performance sets the tone for the future and determines how quickly Ariana owns half of this mine outright. Exciting times for a micro explorer now micro producer.

1.6p ask. Nearly there for mid September. I suspect we will continue to trend up into news. Cost figures will look very nice against the current gold price. I suspect we will comfortably break 2p on news to retreat back below in the days after before making a solid move to 2.5p+ Exploration capable of adding to the reserve at good grades is needed now to extend mine life to both reduce costs and increase value of the asset. All looking very very nice.

Some buy volume this morning in the first hour. SP lifting nicely in a measured and sustainable way. 1.6p mid September is looking like a given. Beyond the SP will rise into news very early next month. 2-3 weeks after news 2.5p is very achievable.

Not Salinbas I was a few kilometers down the road but spent time in the area. Long enough to know what the terrain is like. It's a beautiful area in the summer. I was at Kiziltepe long ago immediately after the trial mining. Deep pockets are required to do a proper job to reserve status. I just don't think it fits Kerims agenda. The cash can fast-track Tavsan.

Have I been there? Yes. Limited drilling is limited drilling. One small rig that requires a crew of 2. This is not used for a campaign capable of drilling fences suitable for a resource definition. More chasing any interesting surface samples. Facts are in RNSs this is a chat board. This is where opinion is expressed and ideas are exchanged. If you think I am somehow misrepresenting things then fine by me. I have been to the region on several occasions and twice this summer. Salinbas is in a area with steep drop offs and . Access roads such as they are exist most summers in the valleys and largely disappear in the winter. Regional roads are hard topped and capable of heavy loads.

9 million does not buy much drilling unfortunately. That has made up the current resource so to go further more is needed. What happened was that there was compromise over the exact locations because of difficult access. The slopes are steep and stripping forests for drilling is a non starter budget wise. The permits for drilling will not cover stripping but selected clearance for access.the steepness and drop offs are a feature of the area. Using heavy lift helicopters will not fit any budget so small mobile drill rigs are used like Arianas own. These has a very limited performance. The terrain is fit for goats. I believe that any drilling will be just the easy and cheap targets. There will be lots of surface samples and grid work. Once targets are confirmed Ariana will let a nearby interested party take it forward. Certainly the current JV has little relevant experience of this type of mineralisation.

It's not at all remote. In fact infrastructure is good. The landscape is extreme and access for drilling is at best difficult. Reality is that there is no need to define a reserve. A low confidence resource will attract interest. However it will not go that far. The deal will be a large cash settlement and staged payments as the resource grows or a NSR. I would think that the offers low end will be $20m.

I can't see Ariana drilling out any of those targets. The landscape is extreme and exploration beyond sampling will cost millions. Ariana will have sold this long before.

I believe we will get the quarterly report within days of the end of the quarter. After that it will take a while for the market to digest the significance and we will see a flurry of presentations and media to spread the good news. The share price will rise to 2.5p+ by mid-late October. 1.6p still on for mid September.

This RNS is simply telling the market that the broad sweep of the area under license has identified several targets similar to the resource discovered so far. The purpose is really to tell other developers and producers nearby that they have an extension to hot maden and it could easily be much larger. It says get your wallet out. The longer they leave Ariana scratching around on a very limited budget the more it will cost them. Certainly worth more than the current cap for Salinbas alone.

Some confirmation of the early indicators from the wider program now largely complete. Some more specific activity is ongoing until the weather window closes. Really the potential is too huge for the small exploration team to manage. I believe that the project will be sold once clear indication of scale is achieved.what's it worth?. The focus for exploration will return to RedRabbit.

The recent placing was obviously necessary and the price was the best or why do it. Kerim has always done what is necessary to protect the company and therefore investors. The reveal to the market is approaching most investors near term horizon. Currently volumes are low but that will not persist much longer. Kerim has always been open to approaches from well funded investors. I have been inside on one of those deals in 2009 and he worked hard to piece together funding. The market is tough but this worry is behind Ariana now. The share price is too low to make sense and it will rise from here. 1.6p by mid September. Clearly 2.5p+ following digestion of the profit margins and repayment schedule is not much to ask. As far as funds go at some stage we will find out what is owed to Ariana by the JV as a cash payment. Exploration budgets are largely satisfied with the exploration concluding this week at Salinbas. Results to follow. Back to RedRabbit for regional exploration looking for high grade targets within truckin to the plant. Won't be long now.

Trading is very subdued at the moment. I don't think it will be long after the end of the month that they release the first production quarter results. I support that by the so far very timely announcements. The last operational update was immediately following the end of period. Very frustrating when some wait six weeks to update. Normally the figures are poor when delayed as they would want to comment on the then current period. All appears to be going very smoothly at Kiziltepe. Salinbas should produce a news flow through the next 6 months. I suspect Ariana will liquidate that asset within 12 months on very good terms.

More importantly gold bounced off the 1300 and is looking good at 1322. I suspect we will see $700 oz margin at these prices end of September. At that level the share price will rise strongly.

I very much doubt that was ever the case. This is a very amicable JV and certainly won't be the last project they do together. Ariana are owed money by the JV for exploration that has resulted in the increased resource. That is paid at 3 x cost of discovery. There was definitely no danger of any animosity between the parties. The 1.87m is a small amount in the scheme of things and anyone who is hung up on it is missing the point.

£22m raised and market valuation at £15m. Exactly the reason I am interested. However you have to look at the liability to the banks and the asset values. I think the share price will rise; I believe that is inevitable

The £1.87m was raised to support the JV and to progress the portfolio. That progression is the summer exploration season which is ongoing now. Ariana are an exploration company so expect them to add value through exploration. That's what they will do with any excess from the production. I doubt anybody will complain when they sell Salinbas.

The point you miss is that all the shares in issue have been sold to the market at a variety of prices. The movement in the share price reflects the conditions of the market. The strike price reflects the time and conditions of the day. The only questions worth talking about are what value has been generated by the money consumed. I can tell you at 1.4p a share the value within the portfolio is not represented. That is all I need to know. I don't care about investors sitting on a lose; AIM shares require diligence and attention. Sitting on a big paper loss shows a lack of both. Not buying at 1.3 when one maybe holding at 3p is crazy. No argument to hold if there is not one to buy.

Didn't do any damage to me. The money was required to complete this seasons exploration. That work will produce much more value for shareholders. I have bought 2m+ in the dip following the placing. Thanks for the opportunity. There are not a lot of shares available at this price.