Member Info for Tracylied

It's going to take a while for the share price to refloat in a sustainable way but it will into compliant operational quarterly reports starting after end September.

Often ramp up produces unsalable material (more common in concentrate) hence the news about sales. One would not expect ramp up to be profitable. However here we are in ramp up now and the production is at commercial levels. End of June is very convenient for accounting so they will stick to it as a reporting threshold. The reporting of costs is a requirement but only beyond declaration which is a future notional date. Everything appears good but the detail will not be released until end of Q3 has passed. Those wanting a cheap position on that event will be buying now.

Why would they provide costs during ramp up. They have clearly stated several times that they are in ramp up and commercial quarterly reports will commence following the end of June quarter. That will be end of Q3. Figures during ramp up will show nothing of the future performance. Ramp up is part of the construction cost. Th problem is that you don't know what you are talking about.

Yes a super update. The most encouraging element is that operational performance has been meet during ramp up. Updates will commence from the end of June quarter as expected so no cost breakdown until after the end of Q3, probably mid October. However we can see that if the process performs at tag or above grades are currently good and increasing with good recovery then production costs will trend in line towards $600 oz eq. The gold so far will not be at a profit for sure but now availability is at 95% margins will be strong. That is the purpose of today's RNS. The market will take this as a major risk reduction and the SP should head to 2p or beyond in the short term. The company now need to push on with exploration and fast track Tavsan partial production. That could be super rapid maybe even 4 years. Awesome news and great work.

Compliant.

Confirmed that the first complaint production figures will be from the 3rd quarter. That is release after the end September. The update referred to previously will be about the progression of the ramp up and will denote commercial production. That is in line with every other similar event I have followed. This is the industry standard. Any thought of production costs over three months of ramp up is just crazy. The market will wait on the actual performance for significant moves beyond 2.5p. Even a project as tiny as red rabbit will fund a lot of exploration and hopefully over the next 10 years or so they can spend all the income wisely.

Exactly my point. Results of ramp up. Ramp up is complete is the result. It will never be a bucket by bucket cost analysis. Ramp up is not a stable process it's full of blank samples and stoppages. There will be confirmation of the ramp up performance and a report to market to say the plant is within design tolerance. This is not a code compliant announcement. Clearly Kerim wants to talk about progress at every opportunity and will be making reassuring noises through this high risk time. That is his role and he does it very well. Without a cost breakdown the production means nothing. Look at other similar announcements. The plant performs below / within/exceeds tolerance delete as applicable. Ramp up complete and commercial production commenced. We can write it now but it doesn't change the wait until October.

You misunderstood commercial production and completion of ramp up are not the same thing. Commercial production is a notional date in the future anticipated to be in full tag phase from which the company will report the figures as a commercial venture. Ramp up is likely to be complete now but that doesn't mean that they will report production and cost to the market. They have indicated their expectation and their quarterly reporting regime. Clearly they can't report something until they have something to report. That to me says quarters beyond end June. However if there quarters from year end don't drop nicely like Atym and others they will report a partial period first time. So when is year end? That will be your answer. Enjoy.

So that is opinion. Have you verified your opinion or are you just talking. The ball mill and increased crushing and grinding will only be viable if they have increased production and winning capacity. The plant can only run as fast as the slowest process. If the current ball mill is a bottleneck then that's poor planning and they will increase the capacity. The problem with boards like this is that people with no knowledge and lots of assumptions make statements as if fact that are no more than their hopes and dreams. Another similar ball mill will not double capacity of the process just the capacity of the crushing and grinding sector. I find the suggestion that there is only one seller as ridiculous. There have been multiple sellers since ramp up started and with good reason because after first production the wait for further information is typically 6-9 months. It will be quicker here because this project is tiny but still all those who have been through this process before will have sold their trading holding and dropped to core. I think the share price may drop another 10% but it's more or less done now. However creating non existent deadlines is dangerous and stupid. Learn and verify.

Where has that understanding come from. There will not be production and cost figures for ramp up. They are not required to report and would be stupid to do so. There may be updates about any gold produced but without costs it's useless information. I fully expect to hear nothing until late October early November. That would be how every other start up I have followed has been dealt with. The upside is in exceeding expectation and that can only be done in commercial production. The term relates to production with mandatory disclosure to the market. Prior to that the production may be profitable, it has nothing to do with that. It's merely a self appointed deadline to commence reporting.

Is it confirmed that the production report will be in July. I am not expecting anything until late October. Ramp up complete June then quarterly reports. They can't report on production until after they have 3 months. They will not report on ramp up. Quarterly reports will include all the costs so can't be based on the previous 3 months from July.

They have been ramping up for weeks now. The production will be commercial by now without a doubt. They will start measuring for disclosure soon and 3 months later we will know what the figures look like. The lull in the share price is to be expected with the predictable lack of driving news. Any rise will be sold into and holders should be sitting on just their core shares right now. They will return with shorter term money late summer. The start up curve for single asset producers is well established and will come as no surprise to most. In the meantime there are other interests to pursue. The weather in Turkey is good and the drilling season is upon us. Accessible high grade is what is needed for the bonus future. The project is very robust, tiny and potentially profitable. Icing for the cake would be nice but the cake is pretty tasty.

Stratex are not the predator in this scenario. Stratex taken out for cash value. All of the assets amount to nothing. In fact less than nothing. Asset stripping at it's worst. I hope the kickbacks were worth it.

I say again that ramp up is not commercial production and never reflects steady state. The production will be dealt with as commercial from the end of June. Now that has nothing to do with the actual production it's a point from which the company will report to figures. The figures for July, August and September will be announced in October. Whatever has been written in the past in any projections is irrelevant. The company has said that they will be reporting in quarters from end June. It's simple. As for finding an institution. Wouldn't that be a good idea. I suspect if there were one then there would be one already. Institutions are very careful about their risk profile. Only niche boutique investors would back this and I would imagine if they were interested they would be in by now. I don't think that anything is going on but the ebb and flow of the market. Looks very much like a holding pattern whilst we all wait for the technical risk of project start up a ore performance to reduce. Yes I have an opinion. You may think that is opinionated but I am sure of my facts and say nothing without verification.

They should be lining up an institution to take free shares. I wonder if they thought of that...... What a revolution. Institutions don't do that this is the AIM. Imagine if your pension fund invested in markets like this. Hilarious stuff.

When saying I am wrong you obviously think that this mine is in commercial production. It's not it is in ramp up. There are no figures for costs to give. I think you fundamentally do not understand the process. When commercial production begins in maybe 6 weeks time they will be publishing the costs and performance in quarters. First report end of September. That is the way it is. Figures about how the plant is performing now are irrelevant and would certainly destroy the share price as no company ever makes money on ramp up. It's a cost to wear. The results will change hour by hour as they tune the plant for maximum performance and enter production material and blanks (sterile material). This is how ramp up goes; why would you ever expect anything to come of this. If they achieve ramp up in a couple of months that is super quick and beyond that they will report. Unfortunately forums like this mislead many as "experts" sitting in their pants post complete nonsense and create expectation of unrealistic events. Mid October expect cost figures for the first 3 months.

Levistubbs if you think my words have a"tone" then it's you applying that tone. The suggestion that Kerim should be providing more information is just nonsense. Where does the notion that there is a seller come from. I would think that there are multiple sellers at the moment given the predictable lull until production news. Commercial production is likely to start in 6 weeks or so.

What a load of nonsense. You show me a producer who provides "guidance" during ramp up. If you find one they are a fool. The project is in ramp up. They will have been processing junk ore for the first 6 weeks and will have no clue on costs for months after steady state. Kerim has said several times that production is progressing well so that is as much guidance as ever will be given. The share price is low because as always with single point producers the technical risk is high in ramp up. We can expect sparse news flow over the summer. Simple. All the quick buck money has moved or is dripping out. It will reload as financials loom but we will have to wait that out.

I think production in line with guidance for early stage is what is required. They can scale marginally but building another ball mill does not double capacity. It may or may not be economical to do so depending where the bottlenecks are. The reason the share price is challenged is the same reason it always is at this stage. The market waits for production and importantly cost figures. We will hear about this late summer. Right now the market anticipates a lull in news. Summer drilling season is starting and results will be August or later. First production and cost figures will be September or October. Then we will know what action they have to take for profit, enhanced profit or expansion. No hurry in my opinion.

Tubbs how much have they received so far? Both parties are owed by the JV company and will be paid once the project is cash positive. An area of high grade at RR will totally transform the project and be worth 100's of millions. Having built the plant they would be negligent not to explore all the ground systematically. The JV company is a couple of months from cash flow and the more that goes to Ariana the better. If that is achieved by vesting reserve discoveries into the JV then that is Ariana doing their job. The mine and plant is truly tiny so grade is the most important factor. They understand the reserve they have enough to mine; the rest is where they need to go now. Ariana will not develop Salinbas that is clear.