Member Info for VanVan

https://www.dailymail.co.uk/news/article-8462889/Britain-moves-one-step-closer-finally-getting-home-Covid-19-antibody-tests.html
What if any implications for ORPH please?

What will next week hold for gold & AAU? Deal update? Gold $1800? Ducks lining up perhaps?

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.

Proposing to proceed with a reduction of capital creating an additional £158m of distributable reserves within Electra Private Equity.
Seek Court approval in mid July 2020.
Comments?

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

At the recent Shareholder online conference, I asked Kerim:-
Will our other 100% assets at Karakavak, Ivrindi & Kizilcukur all fall within the new J.V. Deal if it goes ahead please?

Kerim: The other assets (e.g. Kizilcukur) have also been considered as part of the enlarged JV and have formed apart of the DD by the incoming party (though to a lesser extent understandably). The MoU considers their eventual sale in to the enlarged JV.

FT have issued a 'buy' on HUM

https://mail.google.com/mail/u/0?ui=2&ik=5f84cd7a82&attid=0.1.1&permmsgid=msg-f:1669397825373264111&th=172ae47a322ed8ef&view=att&disp=safe

Brilliant Cottoner. Thanks for your trouble. Very helpful. Don’t stop contributing.

Thanks barwickman. Don’t you just love a helpful fellow shareholder. I’ve read the posts and that is why I’m asking the questions as no clarity found.

Who is Jessica Manning?
What is the significance?
Does it make Imutex more marketable?
Raises its profile.?
But don’t see the name Imutex mentioned anywhere.
Sorry to be out of my depth. And 2017 . Good gracious. Is it significant enough to expect an RNS on Monday?
Any help much appreciated. Doh

I wonder when Kerim will put some meat on the bone for us in terms of his Red Rabbit plans? What is the potential Red Rabbit production output?
Say 20,000 ozs for open pit Kiziltepe plus another 25,000 ozs for underground plus 30,000 ozs for Tavsan equals 75,000 ozs. A big step up from today’s position. Then add in Salinbas, Ardale and Hizarliyayla and that could add another 50,000/75,000 ozs p.a. What was it Kerim said in the MoU last November- “become one of the premier gold mining companies operating in Turkey”. And “ the contemplated joint partnership between Ariana, Proccea and the new partner, will create a formidable exploration, development and production group”.

Kerim is indicating that Tavsan will be a standalone mine doing its own Heap Leach processing. Before they were going to truck to Kiziltepe but now Kerim says he doesn't think Kiziltepe will have the capacity. I think this is because they are going to build an U/G mine at Kiziltepe.
As Kerim mentioned they are nearly finished on the exploration and developement drilling programme around Arzu South (deep underground extensions) plus geotechnical drilling to get an Underground resource assessment leading to an Underground mine plan. He said they just had a few more holes to drill.
The following might help to add more light on what is going on.
I asked him this question at the online ************* link in.
"Can you add any more detail/thoughts on about the underground story. Can you help us envisage what the potential end game is here or is it too early to say?"

"It is a little early to say specifically. What I can say is that the current resource block model extends significantly below the current Arzu South pit and along its NW extension. So much so that we probably have perhaps double the total Arzu South resource which cannot currently be mined by open-pit methods. That seems like an awful lot of gold to leave behind! And that is based on what we already know..."

So this underground mine probably means Tavsan has to stand on its own. The other interesting point is that Proccea are not U/G mine contractors. That would need someone else.
I'm getting really excited about the potential at Kiziltepe. Looks like we could have am Open Pit & Underground mine plus Tavsan.
When I start to add up all the good news (value accretive) since the MoU was announced last November, plus this increase in the price of gold, I convinced the terms of the DEAL must be enhanced.

A colleague of mine who was a director of another gold producer helped me out with the question I asked yesterday:
In case your Tavsan question on LSE wasn’t answered: 9m/t ore @1.0 to 1.30 g/t = 100,000 - 130,000oz - roughly another 4 years. Hope that’s helpful. Seems things are moving in the right direction.
So potentially 8.5 yrs plus 4 yrs equals 12.5yr LofM for Tavsan. But as ASH points out there may be other optimisation issues to take account off so 12.5 years is probably optimistic but none the less very encouraging.

Won’t say no to that!

All fair comments Ash. It’s a shame they aren’t releasing the Pre Feasibility study which is apparently finished. But it sounds like we won’t have that long to wait for the Full Feasibility study. C1 costs and AISC is an issue I agree but Michael always says the difference is minor and for the sake of ball part assessments is probably not worth get to finicky about. There are so many variables that it is impossible to be 100% accurate. I’m really pleased to know that real progress is being made on Tavsan. We weren’t given a firm date for start but I suspect it will slip into 2022.

So we now have 253,000 ozs of Gold up from 168,900 ozs) and 723,000 ozs of silver meaning an 8.5 year mine life ( 253,000 divided by 30,000 ozs per annum).
Great to see the resource is further de-risked with 77% now in Measured and Indicated.
And of course there is another JORC exploration target of up to 9m tonnes. How many ozs would that add to the 253,000 ozs? Anyone know. Obviously it looks like Tavsan is going to have at least a 10 year life.

The other great aspect imo is that all work todate has been self funded. New Mineral Resource estimate plus the pre feasibility study completed and the EIA & Full feasibility study well on the way to completion, must mean a fair bit off the earlier Scoping Study Capex estimates of circa $20m. I'm guessing but I believe a F.S. & E.I.A can cost anything in the region of £3m. The Resource work with Tetra Tech Co. involvement must have been another couple of million? Anyone know better?

In the last Panmure Gordon Note, Tavsan was valued at $33,197,582. With 50% ownership to Ariana, that is $16,598,791 (£13,133,036) or value/sh($) of $1.21 (£0.96p).
If we assume the producing margin will be $1700 (gold) - $600(AISC) = $1100 (£850) per oz.

That means on production of 15,000 ozs p.a. nearly £13m EBITDA p.a. Makes their £13m valuation look a bit soft imo. Any thoughts?

That isn't true. Bert Monroe as Business Development Directors tor was a class act. He is now CEO of Cora Gold.