It’s a great post and so true it’s painful to read. But here isn’t the likelihood of a generous special payout, perhaps as much as $5m by November, plus the monetisation of assets ahead of time, jam today? And with a war chest in cash on our balance sheet, doesn’t that unlock our potential to exploit assets such as Salinbas, Cyprus and even Red Rabbit (Tavsan, Underground potential, second Ball Mill perhaps) faster making the jam tomorrow come sooner?
I think we have got to wait for the Co. to issue the final details and achieve shareholder ratification before the share price truly reflects this transformational milestone. Don't forget they have got to get Ministerial approval as well although with Özaltin on board I expect that is a formality. End of August with the cash on our balance sheet and dates set for the hoped for special dividend and I think we will see a very different share price to that of today. Just my thoughts.
Come on John it's not that bad. Tavsan should start production early 2020 and that means lots on news flow (important value accretive milestones) along the way. Salinbas: I'm expecting a dedicated Resource drill programme later this year pre winter. Salinbas E.I.A. study & Scoping Study is of course already underway and will no doubt now be accelerated. Cyprus: drilling programme late 2020 Kiziltepe: Exploration & Development drilling around Arzu South (U/G deep extensions?) leading to the potential for a new U/G mine. Not much more drilling to complete there so news might be soon. Then once Kerim gets his cash who knows what opportunities he might uncover. Isn't there anything there that gets the old ticker going? Surely the nice special payout followed by regular dividends all being well. Cheers
If your were invested in EMED when Harry was at the helm this seems very similar and predictable. I would say exercise great caution and question thoroughly anything that is said. Don't take anything for granted or at face value. DYOR.
At the end of March the Update came at 7o'clock the following day on 1st April. After all the extension is till the end of 30th June, so that is ok in my book. I guess we should expect an RNS in the morning.
Forgive me, but I've been trying to think how Kerim might be seeing matters and why he might be relaxed time wise regarding our new prospective partner. Let's say he expects gold to rise in value to c. $4000 per oz over the next few years. I certainly do. During that timescale he will increase production from the existing J.V.with the second mine at Tavsan coming on line in 2022 from 20,000 ozs p.a. to circa 50,000 ozs p.a. Could even be a bit more than that perhaps. That means 25,000 ozs for us. Let's take off say $700 per oz AISC (on the high side) and we have a profit of circa £2600 per oz ($4000-$700=$3300 coverts to £2671). Multiple that by 25,000 and you have a bottom line profit of £65m. Divide that by the number of shares in issue, namely 1060m and you have EPS of 6p. You decide what multiple the valuation should be on, but Kerim has 19.56m shares so that's a fair wad. And that's before he develops the highly prospective Hot Gold Corridor which could easily double that wealth or more over the next decade. Then there is unknown Cyprus. Everyone is getting very bullish on copper with the electric revolution. As such at 44 years old I can see that he has time on his side and a very nice future mapped out. Basically he can afford to take his time to align outcomes with a positive re-rating of gold, silver & copper. I know Michael is 57, but perhaps he will be happy with nice dividend payouts. I must admit Kerim is sitting in a very nice position. He has a brilliant future with the existing set up, but if he chooses to bring in the new partner and accelerate everything, he knows the timing of production in the Hot Gold Corridor will be aligned with high gold prices probably giving him more wealth and a great deal of credibility and status to go with it. Remember the RNS words. "J.V. capable of unlocking the full value of our assets in Turkey" - "become one of the premier gold mining companies operating in Turkey". At my age I hope he goes for the deal, but as we've all said we are in a win win situation here. Good luck
I got my dividend certificate from Hargreaves Lansdown very easily and very quickly. All credit to them hearing the problems so of you have experienced. I then spoke to my Accountant to ask if I needed to get the Irish Revenue Withholding Tax Form certified by HMRC. This seem a bother and time consuming. They said don’t bother, just fill it in with your NatIns number and post it with the Dividend Certificate from H.L. to the address in Co Tipperary. Well that is what I did today. Fingers crossed it works.
To maximise our potential and become a premier miner in Turkey is going to need capital for Tavsan, underground mine at Kiziltepe and one or more mines in the hot gold corridor. That isn’t really feasible imo for such a small player, well at least in reasonable timeframe. Gold is strong & due to get stronger. We need to accelerate development and exploration to realise our potential. Our new partner hopefully gives us the key to do just that. Shares that start paying dividends often transform as well. Just take a look at what happened to AAZ after it introduced a defined dividend strategy.
Sorry we’ve been so quite. Waiting for the next big bit of news. So much potentially in the pipeline. Could be an update on the deal, Annual Report & Accounts, exploration & development drill around Arzu South ( Underground deep extensions ) plus geotechnical drill leading to an U/G resource & in turn assessment leading an U/G mine plan, Tavsan progress report (land acquisitions, Forestry permits, finance discussions , Feasibility study, EIA work , and then in July the next quarters preliminaries. Phew. What is the potential impact on the share price from that lot? We are a Co. under the radar to some extent and that is no bad thing as it reduces volatility. I think you’ve invested wisely (my opinion as it agrees with what I’m doing!) Good luck
Courtesy of Oilbuy on ADVFN: "Bullish hammer on the chart from Friday's close. AAU will break 5p soon." Hope he/she doesn't mind me copying it across. Do we have any chartist here who could comment please? Are we near a break-out? Someone else told me the next main resistance was 6.3p