Member Info for VanVan

Bit harsh John perhaps.
I don't think you can run a Co from a screen on the other side of the planet and these latest issues seemed to endorse that.
I also believe that ESG issues are becoming almost the number one issue in this strange new green/woke/ lefty/climate change/net zero/ Great reset environment which we find ourselves caught up in and I actually believe Kerim has acknowledged this. I think he is quite an environmentally sensitive person who wants to genuinely do the right thing. For a few years they have talked about the possibility in the AR &A of strengthening the Board to satisfy Regulators etc. but I suspect this was paying lip service to the issue. Kerim wants to keep a tight ship where he is control. But when pushed, Kerim suggested that if they took on an additional Director it could well be in the ESG area as he recognised a case could be made for strengthen skills in this area. Shame he didn't get on with it as the current Board looks thin and not experienced in these issues. Something many of us have been going on about for quite a few years. And some have been in their roles longer than is normal accepted good practice!
But as to a valuation, the new strategy was in part designed to mitigate against such risk and of course we now only own 23.5% of Tavsan although I doubt anything of that is in our current valuation. So not hit as bad as we would have been under the previous J.V.
But if you take our positive cash flow and net profits from lowest quartile costs, plus the actual cash on the Balance Sheet (£16.4m in the last AR & A) you could say at 3p, without anything else, we are still very good value. This is especially true if as we understand correctly that the Life of Mine at Kiziltepe, with its satellites, will be extended considerably.
Then we have the exciting J.V. work at Salinbas and importantly Hizarliyayla with 3 rigs now in operation. I'm unclear what is caught by Project Leopard but it is is 100% ours and has a team of 10, beavering away I believe, probably not far from Hizarliyayla. I hope we can get this clarified at the Investor Meet Co. do on 15th. As for the rest (Venus, Asgard, Western Tethyan Resources etc.) I see nothing of this in the current share price. So whilst immediate sentiment might result in more sales, there are thankfully many who still see this as a buying opportunity.
We will see. I think you will agree it is so rare to get negative news from Ariana. Let's hope this is the end of it Fingers crossed. Please do come back it you think I'm talking rubbish.

My post this morning on ADVFN (Plasybryn)
Am I right in thinking Mentor Demi has put out a video on his Facebook page. I'm not on Facebook and was hoping it would be on Twitter or LinkedIn, but not seen it so far. It would seem he is much more attuned to shareholder communication. I know many of us wonder what our Chairman actually does, but I'm coming to the view that we would be much better of with a experienced, recognised CEO/MD to run the ship with Kerim acting as chief geologist/exploration/development Director or something similar. That would open a can of worms, but the Board really does need an injection of new energy and direction in my opinion. The distancing from shareholders suggests they are tired, lacking enthusiasm and can't be bothered. Not a good message. I'm hoping this "do" on the 15th will see a major change in attitude, but I somehow doubt it as we've hoped for that many times before and nothing ever changes. Discuss!

The problem with these Q&A sessions is that the Co. answers the question and then moves onto the next one. There is no opportunity to come back and seek further clarification.
The Co. answers with a "motherhood" reply and thinks that has satisfied the questionnaire. Only face to face can really addresses this weakness, subject to the Chairman keeping his wig on of course! Anyone recall the last AGM?
But I believe it is being suggested to YJ that there should be a come back question opportunity, even if this was answered in writing at a later date.
I would be happy to attend events again if I thought it was actual worthwhile and going to achieve something!

Hi LordsofBurnley & Johnwph. May I say two great posts last week which in my book are well worth the read. Goods stuff. Trying to understand the strategy here is never easy!
I agree with both of you in part. The press statement that Kerim made nearly 2 years ago now, that his vision is to build a £500m Co., is a worthless statement without a shared understanding. We need to know that an articulated strategy to achieve it is signed into by the Board, staff, and shareholders. Certainly not us currently as we only have guess work.
There has been a great deal of consternation regarding many important issues over on ADVFN by many posters and it is understood that this Presentation and Q&A on 15th is in direct response to that. I hope we all agree that it is therefore imperative that we use this opportunity to push for answers. The Board and Kerim in particular, have distance themselves from shareholders (now that they don't need to raise funds) and this lack of concrete information on many important issues is seen by many as totally unacceptable, me included, including one of the largest listed shareholders, who is known on ADVFN as Biggles.
I'm of the view that if shareholder's concerns and indeed demands are not addressed in the next year then appropriate AGM resolutions will be raised. Shareholders have tolerated this lack of respect and acknowledgement of their loyalty for far too long.
Apart from a lack of concrete information on the progress at the imminent second mine at Tavsan (bring back a Gantt chart with milestones and timings), the reason behind the lost option at Apliki and as Johnpwh says, overall Cyprus direction, the lack of supposed JV accelerative progress at Salinbas and importantly Hizarliyayla, and basic confirmation regarding what 100% asset owned Project Leopard owns and is exploring (near to Hizarliyayla?)
As to the J.V. I have wondered what objectives were set at the outset so the Board and shareholders could judge if it was a success and if it was delivering against those. Reference Tavsan financing, I expect that Bank's are disinclined to advance loans in periods of very high inflation (was 80% in Turkey at one point) and therefore I suspect the J.V. is self financing Tavsan, although it would be nice to have this confirmed. I am assuming that this is why we haven't heard anything about the progress on the Tavsan DFS, as without the need for Bank finance, this work (cost) becomes superfluous. Anyway let's hope we can be done with supposition and guess work and can get some concrete statements from our Board. Please do use this opportunity to get the issues you want aired and the answers to the questions that you want to know. Good luck.
Hope you are all well. Another lunch one day perhaps Johnwph?

Am I right in thinking that Trish may have her follow up scan around 8th February? Up to her of course if she decides to post anything on the MacMillian site but perhaps we may get some unofficial news soon. Who knows? I just pray for her and her family that these follow up results continue to be as encouraging as those previous ones. Fingers crossed for all concerned. Do tell me if I'm talking rubbish.

It's a shame you didn't ask him about his replacement. I would have loved to hear his comments on this very important issue.

Well done Marcus. Getting a replacement Chair with the shared strategic vision, the understanding and knowledge of the Corporate world and the ability not to sell us short is going to be almost as crucial as the science. I'm pleased they haven't rushed into this. Hopefully the likes of Redmile and Vulpes can help.
Overall it is such a positive interview in so many ways. It tells us so much about the business ethics, the prime movers, and the focus on science. It helps to put into context the very long time scales and the fact that amazingly the commercialisation chapter could now be not that far off. Managing this next phase, the release of information and protecting our interests from perhaps unwanted predators is going to need a lot of specialised Corporate and legal skills, which we need to acquire imo. We don't want Lindy & her team deflected from what they know, understand and love. As business grow they go through growing pains and we are at one of those points right know imo.

My recent post on ADVFN (plasybryn) - might be of interest. Will we get the update tomorrow? Will all these be covered?
My recent post on ADVFN (plasybryn) - might be of interest.
To quote Kerim - "the market will appreciate it soon enough" (Nov. 2022)
A list of actions: Please add to this.
Hopefully a good reminder for us ahead of the expected January update.
1. Kiziltepe
Resource update after 11,000 m drilling programme in 2022
Reserve Base update
Life of Mine update - see 2 below. Extended life for Kiziltepe mine?
2. Satellities (Kepez, Karakavak, Kililcukur)
Update on expanding Kepez and 2 other satellites to build rescue and feed Kiziltepe in years ahead.
3. Project Leopard (100% owned)
Update of what the specific plans are to exploit this exploration and development asset.
4. Kosovo (75% owned by Ariana) Mentor Demi
Update on this "relatively advanced project" - 300 km squared copper, gold deposit.
Option on a gold project with is supposedly undergoing D.D. (as of Nov. 2022)
5. Venus Minerals, Cyprus (50% owned)Magellan project holds 17m tonnes of copper, gold silver & zinc. Peter Van Der Borgh
Update on Venus having a 50/50 JV in Cyprus Apliki which is fully permitted and the most advance plant in Cyprus. Has it's own processing plant etc. Pretty well ready to go.
Update on IPO - due in 2023 on back of improved markets. Copper currently very strong.
6. Asgard's Metals
Update on positive progress at listed Panther Metals (Kerim Non Executive Chairman) - made a recent major Nickel/Cobalt discovery - 76mt. etc.
7. Tavsan
Mineral Resource estimate due early 2023
Assay results from ongoing drill programme
Further updated Mineral Resource during course of 2023.
Permitting (EIA granted)
Complete land purchase
Financing - managed by Proccea
Construction
Production Q3 - "going smoother than Kiziltepe at this point in the process"
8. Salinbas - over 6,000 metres "really picking up speed"
Second drill rig added with drill programme continuing into 2023 - Assay results
Progress on E.I.A (all Forestry Permits granted)
9. Project Generation Division
????
10.Dividend
Developing a strategy for long term dividend streams

My recent post on ADVFN (plasybryn) - might be of interest.
To quote Kerim - "the market will appreciate it soon enough" (Nov. 2022)
A list of actions: Please add to this.
Hopefully a good reminder for us ahead of the expected January update.
1. Kiziltepe
Resource update after 11,000 m drilling programme in 2022
Reserve Base update
Life of Mine update - see 2 below. Extended life for Kiziltepe mine?
2. Satellities (Kepez, Karakavak, Kililcukur)
Update on expanding Kepez and 2 other satellites to build rescue and feed Kiziltepe in years ahead.
3. Project Leopard (100% owned)
Update of what the specific plans are to exploit this exploration and development asset.
4. Kosovo (75% owned by Ariana) Mentor Demi
Update on this "relatively advanced project" - 300 km squared copper, gold deposit.
Option on a gold project with is supposedly undergoing D.D. (as of Nov. 2022)
5. Venus Minerals, Cyprus (50% owned)Magellan project holds 17m tonnes of copper, gold silver & zinc. Peter Van Der Borgh
Update on Venus having a 50/50 JV in Cyprus Apliki which is fully permitted and the most advance plant in Cyprus. Has it's own processing plant etc. Pretty well ready to go.
Update on IPO - due in 2023 on back of improved markets. Copper currently very strong.
6. Asgard's Metals
Update on positive progress at listed Panther Metals (Kerim Non Executive Chairman) - made a recent major Nickel/Cobalt discovery - 76mt. etc.
7. Tavsan
Mineral Resource estimate due early 2023
Assay results from ongoing drill programme
Further updated Mineral Resource during course of 2023.
Permitting (EIA granted)
Complete land purchase
Financing - managed by Proccea
Construction
Production Q3 - "going smoother than Kiziltepe at this point in the process"
8. Salinbas - over 6,000 metres "really picking up speed"
Second drill rig added with drill programme continuing into 2023 - Assay results
Progress on E.I.A (all Forestry Permits granted)
9. Project Generation Division
????
10.Dividend
Developing a strategy for long term dividend streams

My post on ADVFN (plasybryn) - Well having listened to the Podcast twice, I was tempted to buy yet more. I keep thinking back to the AGM as well and the positive body language oozing from Lindy Durrant. The information in the Podcast about Redmile was very enlightening. As was hinted at, I really don't think the market has woken up to the $624m deal Scancell did with GenMab recently to develop and commercialise the monoclonal antibodies. That isn't small beer.
I was also interested to hear Richard say the Moditope reactions hadn't been seen before . He used the word unexpectedly. And of course he said "nothing comes close to the excitement around Moditope."
With so many shots at goal and with real progress now being made, I find it hard to contain my excitement for 2023.

Well done Neil - good presentation. Shame there wasn't time to address the no doubt many questions.

Couldn't let today go without saying something. I've been here nearly six years waiting for this day. Well perhaps that is still a bit premature, but I'm trying to imagine the hope, the cloud 9 feelings, the great to be alive emotions going through Trish. And all those others on the trial praying for similar results. As Chelsea rightly says this is a memorable day, a wonderful, special day. Let's not forget Prof Lindy Durrant either. What a star. Nobel price please. Knighthood , Dame etc. etc.

Did investor's not appreciated the significance of the 31st Oct RN, perhaps placing more reliance on the text words from patient Trish ?
All three patients in Cohort 2 have successfully received two doses and the injections were well tolerated with no safety concerns. Encouragingly, all three patients showed a delayed type hypersensitivity response to the vaccine, which is indicative of a T cell response, and the first patient to be assessed has shown a partial tumour response at first radiological reassessment.

Fingers crossed for some positive updates at tomorrows AGM.
Good luck everyone.

No problem John. Hope you are well.

Wasn't it the AGM today? Not seen an RNS to say Resolutions were passed. Strange?

ASGARD METALS
Taking minority strategic interests in various junior Co’s in Australia including:-
The listed Panther Metals (made a recent major nickel/cobalt discovery - 76 Mt)) where Kerim is Non Executive Chairman
Pallas Resources Ltd.,

TECHNOLOGY, DATABASES & SKILLS SET

Leading the way with technology
> Remote sensing
> Geotech Box

Class team
> Full geological team including geochemists, geophysicists, geologists, a GIS analyst and remote sensing specialisation specialists.

Best Turkey data base
> Newmont spent 20 years exploring for gold in Turkey and Ariana has access to all that data.
> Better position than peers - “No other Co. in the world has datasets that Ariana has over Eastern Turkey in particular”

These unique capabilities have lead to Ariana having one of the lowest gold discovery costs per oz in the world.

Also in bottom quartile for production costs per oz.

SHARE PRICE:

Expecting to see a similar story that happen with Tavsan, prior to Kiziltepe coming into production in 2017 and Bank debt of $50m repaid.
Kerim said “the market will appreciate it soon enough”.

These are the Notes I made for myself having listened to the Podcast twice:
ARIANA RESOURCES - November Podcast

> 36,000m drilled over last couple of years - very big programme
> Ariana is about maximising the use of all the tools (unique database and highly developed skill sets, etc. “to make the next big discovery in Eastern Turkey”.
> All guns blazing on the exploration front in Turkey right now. Focus seems to have shifted to the core Turkish assets which will drive value over the short/medium term.

TAVSAN - The Second Mine
E.I.A. and Forestry permits obtained - Helped by Ozaltin.
Updated Mineral Resource - due soon - pre Xmas?
New drilling programme commenced,
Which will lead to another updated mineral resource during corse of 2023
First production scheduled for Q3 - 2023
* going smoother than Kizilitepe at this point in the process.

SALINBAS/ARDALE/HIZARLIYAYLA
All Forestry Permits granted - Ozaltin assistance.
Originally 2300m of initial drilling - now over 6000m - really picking up speed.
Second drill rig added
Drilling into 2023 and beyond.
Big project - different scale to Tavsan & Kiziltepe
Progress on E.I.A. helped again by Ozaltin
Funded by Ozaltin to tune of $8m
Ozaltin has a very experienced exploration geologist with expertise in permitting, getting the E.I.A. and then the Forestry Permits for both Salinbas and Tavsan.

KIZILTEPE
11,000m drilling programme in current year
Resource estimates update due in 2023
Followed by a Reserve update
Leading to extended Life of Mine for Kiziltepe
Expanding satellite pits (Kepez, Karakavak and Kizilcukur) to build resource and feed main mine at Kiziltepe. Sounds like Kiziltepe has quite a bit more life yet.

PROJECT LEOPARD - EASTERN TURKEY
NOTE: this is100% owned by Ariana
Kerim hopes to say more on this in coming months.
Could be exciting. Will this be the next big discovery in Eastern Turkey he refers too?

KOSOVO - Western Tethyan Resources (WTR)/Newmont
> 75% owned by Ariana Resources.
> 300 km squared copper, gold deposit which is relatively advanced.
> Option on Sol….(not sure of name) gold project - currently in D.D. > Kerim said this was fairly advanced.

CYPRUS - Venus Minerals - (IPO in 2023 when market right)
> 50% ownership of Venus Minerals
> Magellan project holds 17m tonnes of copper, gold, silver & zinc.
> Venus has option on a 50/50 J.V. in Cyprus - Apiliki mine, which is fully permitted. Has it’s own processing plant etc. and is pretty well ready to go.

Not having to outsource, thereby losing vital control, but keeping it tight, keeping it in-house till at the right point Ariana is in a position to blow the socks off his peers, the mining sector and us the patient investors.
I've expressed my concerns about shareholder communication and lack of direct director interface with shareholders, but just perhaps Kerim has a plan which he is about to surprise us all with.
My reservations concerning succession planning and an inadequate Board remain, but these can be put aside for another day, if Kerim shows us in short order he has in fact done a blinder. Anyone agree?

Just thought I'd share a few of my observations on the Podcast.
1. A very considered Kerim - mature, confident and full of quality assessments. No spin, no fluff.
2. I've been frustrated like many by the way the communication has been managed, but perhaps Kerim saw value in leaving things to really progress on a number of fronts before hitting the market. I got the feeling that going into next week's Mine & Money we could start to see and hear hard facts on the real progress that has been made both in terms of drilling across Tavsan, Kiziltepe and Salinbas etc., exploration and importantly mine build at Tavsan. A big hit rather than drip feed, if you like.
3. I can see the need as an Investor not to gloss over statements about technology, data and skill sets. It is easy to brush these aside as "noise"; as givens. But these are looking like real strategic best practices giving Ariana real competitive advantage, both in terms of having one of the lowest ongoing discovery costs per oz in the world, bottom quartile production costs per oz, but also the potential to fulfil the Vision "to make the next big discovery in Eastern Turkey". That must excite us all.
4. I was really excited to hear Kerim confirm that Project Leopard is owned 100% by Ariana. Could this be where he makes his "next big discovery" in Eastern Turkey? I eagerly await more details of what assets are actually part of Project Leopard. This hasn't been clear, but now he promises to say more in coming months. Good.
5. I'm impressed by Mentor Demi at Western Tethyan Resources as I've commented on before, As we know, WRT is owned 75% by Ariana. I got the impression from this Podcast that again Kosovo projects are fairly advanced and as a result there could be stored up value accretive news ready to drop in early 2023, if not before. Perhaps this will also take us by surprise.
6. Cyprus/Venus Minerals is a solid strategic project, 50% owned by Ariana which should again deliver value with the IPO etc. in 2023. IPO delayed yes, but for good reason. I'm not unhappy with that. Getting full value is more important for shareholders.

In conclusion, Kerim said Ariana is in a better position than its peers - "No other Co. in the world has datasets that Ariana has over Eastern Turkey in particular" - where he hopes to make the next big discovery. This is beginning to look very doable.

I'm also very impressed by the class team they have put together - a full geological team including geochemists, geophysicists, geologists, a GIS analyst and remote sensing specialist. This is way beyond what you would expect from a junior miner on AIM. Kerim has a bigger picture plan which it is beginning to look like we will see the direct benefits off. This plus the uniqueness of the datasets etc., demonstrates how Kerim sees big; how Kerim sees Ariana making a name for itself. He has been happy, it appears to be under the radar until he has all his ducks lined up.
Not having to outsource, thereby losin