Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Good stuff John. Yes been a pleasure to hear your cautionary views at times but I'm of the opinion that as long term loyal supporters we continue to believe strongly in the future here. We like the ethics, we like the ESG credentials and we like the undoubted best in class ongoing performance, particularly in terms of costs, and discovery success. We like the new diversified strategy in terms of commodities and locations and we like most of all the mountain of accretive news flow predicted for 2022. Great that long "termers" have held the faith through the recent wobbles. I agree with John, 2022 will be different, general market volatility aside! Have a great break & get ready for better times very soon IMO.
Thanks for taking the time to reply desert joe. Sounds like you have been a bit of a nomad.
Anyway back to AAU, I see we were tipped on Motley Fool and this has been mentioned on Twitter. Perhaps the reason for the buying activity. Nice to see.
A mention by The Motley Fool tonight
'Gold prices rise when inflationary pressures grow. This is why I’m considering buying Ariana Resources (LSE: AAU) today, though it’s not the only reason why.
I’m also encouraged by the slew of positive drilling updates from its Turkish assets (and from Mediterranean-focussed miners in which it’s invested) in recent months. I’d buy Ariana despite the threat that gold prices could fall if, for example, the US dollar were to strengthen'.
desert joe: This is what my college says in response to your comments. He has lived in Oregon for quite some years.
"There is a great deal of correctness in it, but like all such articles inevitably it becomes a personal view. While I would not take issue really I would point out that food is much cheaper here than there. Motor fuel - hugely cheaper still. Housing costs - depends on where you live, how you want to live. Property taxes can be really high in popular areas. Salaries not mentioned - some quite low, but many pretty decent. More opportunity here with fewer folks chasing each job. State pensions - more complex in that it depends on how much is contributed. I get both UK and US, the US is three times the UK one. The small caveat that there have been concerns raised about its liquidity. The classic cars comment - I would say that is rubbish, but then it depends what one sees as a classic car. There are many older american cars at low dollars.
The population density of the UK is a real thing, and because of that salaries are not particularly high - especially when considering housing. I would say people here have more disposable income. Sometimes its not a great deal but they enjoy in many ways an arguably better lifestyle."
Nice to see AAU tick up today. Let's have more please. A very happy Christmas to you all. I'm sure if they keep the wheels on the economy and there isn't any nasty stock market crash, then we should do a lot better in 2022.
Fingers crossed and good luck everyone.
My post on ADVFN this evening.
I've now watched the 1 hour Mines & Money presentation. It was pretty good.
Kerim took his time, was calm and fairly laid back.
I was pleased to see him mention the positive impact of the declining Turkish Lira, but the key messages were I think.
1. He had a slide which showed how undervalued Ariana is versus it's peers. He said quite strongly that "it doesn't make any sense we are trading at such a discount". Not sure I've heard him talk about the valuation disconnect quite so clearly before. Well done.
2. He explained in some detail the potential coming from Ardale/Salinbas & indeed Cyprus. The assets are already vastly bigger than Kiziltepe and we have hardly started.
3. Good drilling progress is already being made at Tavsan & Salinbas (2 Rigs at each location I think). There is so much news to come from both projects in 2022.
4. The substantial drill programme at Kiziltepe will lead to a new Resource in coming weeks. That has got to be exciting.
5. The Venus IPO in Australia takes place tomorrow.
6. There is obviously going to be an ongoing dividend strategy,
7. Kerim would like two more names added to Asgard by end of 2022.
In my opinion this is a great time to buy as clearly it isn't going to be long before sentiment changes here.
Enjoy
This from Henry at Yellow Jersey today:
"Just for your interest as you weren’t able to attend, please find below a link to the recording of Ariana’s presentation at Mines and Money last week. Please feel free to share this further if you wish."
https://www.youtube.com/watch?v=HAux0z-3a1I
I have to say I agree with your well expressed comments John.
This is what I just posted on ADVFN which is along the same lines.
"A 23% drop in the target price by the House Broker makes you ask whose side are they on. I’ve always tried to defend them but I’m shocked by this apparent kick in the teeth for Kerim and the Co. They seem to be saying the Transaction, as it was known, was capital dilutive, notwithstanding all the very positive announcements made since their last Note. I have to say I agree with the sentiment and the questions asked, namely what the F are we paying for?"
Do you mean this one John!
Will our attendance at Mines & Money generate any interest or is it just going through the motions talking to the same old bored audience? If I was them I would consider the recent price action an embarrassment and clear evidence of an underlying failure to communicate effectively. Not helped having Kerim now as a faceless CEO tucked away on the other side of the planet. Pull your finger out guys.
I hope he won't mind me copying it across but I thought it was worth sharing;
this is a quality collaboration with Pallas, looks like they have a really strong team on board, fascinating to see this, when you look at our board compared to those we are investing in, just confirms to me how lucky we are to have who we have steering this ship, reiterating the point of having the right people in the right places. Another IPO on the way, how many is that now, 3 I believe. Building strong foundations with huge future growth potential through shrewd, calculated investments. This model is making more and more sense by the week.
The last "o" was overweight.
I'm expecting a nice flow a news from Ariana over the next few months and at some stage I expect gold to responded positively to inflationary pressures and possibly more Q.E. Stateside.
Then there is Basel 111 which should have an influence but will probably be another wet fish!
We'll see.
Nice to read you are wondering where I am! Yes I do tend to post more often on ADVFN these days under the handle playsbryn. I've been to France in my Camper Van for a month, so not been as active as well.
But what is my current view on Ariana?
Well nothing has changed that much, in fact we've had a nice row of RNS's. In particular I liked:-
1. Drilling commenced at Tavsan and Salinbas. I'm excited by Salinbas. It is of course fully funded by Ozaltin to Full Feasibility Study status ( $8m)
2. EIA approval for Tavsan. I'm hoping the second mine will be up and running in around 12 months.
3. Lots going on in Cyprus. I would see these assets monetised at some point.
4. An interest taken in Panther Metals.
5. Process plant expansion at Kiziltepe completed. Increased through put.
6. Most significant drill campaign to date at Kiziltepe complete, which will lead importantly to a new increase Resource and extended Life of Mine.
7. A new Panmure Gordon Note has been promised. I expect this once the Kiziltepe new Resource and extend Life of Mine (optimisation Study) is announced. That is near term in my opinion.
We obviously still have lots of cash on the balance sheet and we have de-risked by broadening the focus away from Turkey.
Yet the value of the Co. is still where it was say 18 months ago and well lower that at it's peak. That obviously must give investors a lot of reassurance that this Co. represents good value. With dilution from Placements a thing of the past and two nice dividends scheduled for 2022, it is easy to be pretty laid back and not lose any sleep over the current share price weakness imo. In fact this is probably a very good time to be adding.
But do I have any criticisms? Well yes. First the refusal to provide a Gantt chart to help existing and new investors see the range and timing of all the projects remains a constant annoyance to me. As it does with others I know.
Then there is the Board structure. It is too small. Basically it is Kerim. He has 2 part timers and a Chairman. And he has cut off direct contact with investors. This has to now go through Henry at Yellow Jersey. He needs to recruit a Business Development Director /Investor Relations person with responsibility for communicating the story to the City, to Institutional Investors, and to the Press. We need a Non Executive Director to protect our interests. Being based in Australia, when most of the business is in Europe with no key Director here, is not appropriate imo. Kerim is still trying to keep it as his baby and I believe we are well past that now.
Communication is still poor and often lacks strategic input and and sense of what the future vision is. The Board have been made well aware of shareholder's reservations yet choose to do nothing about it.
This remains a Co. under the radar which is honestly run and with great potential in my opinion. Whilst it continues to pay me a nice dividend, with good upside potential as well, I'm very happy to remain o
https://www.thisdaylive.com/index.php/2021/11/18/eroton-seals-750m-financing-deal-with-afreximbank/
Might be of interest. Bit of background to Hellenic Copper Mines Ltd.,Ariana of course involved via Venus Minerals.Heads of Agreement by mid Nov. for the development of a fully permitted Apliki Copper Mine (10.4mt @ 0.34 Cu) Fast track project to mining stage in 18 months following London IPO by end of year.AAU to earn in to 50% of Venus by early Q4.http://hcm.com.cy/site/about-hcm
https://www.venusminerals.co/media/attachments/2019/12/02/venus-presentation-nov19-.pdf
The world risks “running out of copper” amid widening supply and demand deficits, according to Bank of America, and prices could hit $20,000 per metric ton by 2025.
In a note Tuesday, Bank of America commodity strategist Michael Widmer highlighted inventories measured in tons are now at levels seen 15 years ago, implying that stocks currently cover just over three weeks of demand. This comes as the global economy is beginning to open up and reflate.
By the way I was ecstatic to hear they had finally secured the E.I.A. to proceed with our second mine at Tavsan.
Tavsan has mega financials. It is rare to come across one so good. The Scoping Study gave us cash/costs of $630/oz. A global resource of 4mt@1.3G/t Au & 4.5G/tAg. A NP
V of $42m. But the world class numbers were the IRR at 80% and a payback in just 1.1 years on just $20m of initial capital. These figures are no doubt conservative as Kerim has said there will be a new Resource and the Life of Mine will double from 4 years to probably 8 yrs plus. I look forward to hearing what PG make of all this. As said I hope they wait for the new Reserve and extended Life of Mine.
I think the updated Panmure Gordon Analyst Note will be a bit of a bombshell, as their updated valuation will, I reckon, take new and existing investors by surprise.
I hope they wait now for the following:
1. Revised Kiziltepe Resource estimate and extended Life of Mine
2. Final Kepez Reserve
3. Revised Tavsan Reserve and extended Life of Mine.
4. Perhaps even first drill results from "huge" Salinbas.
There's lots of other news due of course, but these four are potentially real "game changers" in my opinion, and could all be out to the market before Christmas. So I'm predicting a Panmure Gordon Note well into December and a share price north of 7p. Just my view, but one that excites me.