Member Info for VanVan

I wouldn’t worry too much about the full year results as the audit process in Turkey, due to strict Covid-19 controls, could make such work a bit difficult and could lead to a slight delay. We will see but I’m thinking it will be harder to complete that sort of work on time.

It was always going to be funded in a similar way to Kiziltepe. The Capex to build the Tavsan mine will be c. $20m plus I believe, and even though the J.V. is currently cash rich with plenty of FCF, they don't have that sort of money yet.

Clem Chambers interview

https://www.kitco.com/news/video/show/Kitco-NEWS/2854/2020-06-10/This-economic-catastrophe-changes-everything-for-gold#_48_INSTANCE_puYLh9Vd66QY_=https%3A%2F%2Fwww.kitco.com%2Fnews%2Fvideo%2Flatest%3Fshow%3DKitco-NEWS

There must be quite a bit of news to flow over the next couple of months which I expect to change the current sentiment significantly. But for those wanting to buy in, this is a great opportunity mindful that we all remain so confident about the outlook and the ongoing value disconnect. I guess pull backs are healthy as they establish a firmer base before we move firmly back into the 4's and in turn 5's plus. It's difficult to judge how much value the DEAL will add or perhaps even the Tavsan E.I.A. & forestry permits approval, but I can't see them being small beer. From the recent ************* Q & A Kerim said he expected to clear the EIA during the summer. And he said that in lock-down.
Kerim also said we would get a Tavsan mine schedule shortly, hopefully indicating mine production (another 30,000 J.V. ozs p.a.) starting late 2021. More than doubling output from our highly cash generative J.V. Remember the Tavsan Scoping Study had an IRR of 80% based on gold at just $1250 per oz, with a 1.1 year payback.
Then there is the ongoing Kiziltepe drill programme and the fascinating underground work. Do you recall that Kerim again at the ************* Q & A said this:- " 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". "And that is based on what we already know". That implies to me he expects there to be a lot more. So taking advantage of this pull back seems like a very sensible investing strategy to me.

I'm not sure if you have read through all the excellent Q&A's from the recent ************* conference. I believe Paul copied them across on LSE & ADVFN after the event.
This was a question specifically about Salinbas which might help. This question was actually asked by me:-

In a normal non virus year, we would probably have started a drill programme at Salinbas/Ardale in May once the snows are gone. Do we have any plans to do so this year, or is the focus for now on getting the second mine at Tavsan into production? Thanks
Kerim: Well given that we cleared the Salinbas licence renewal last year, it was my hope to have been drilling at the project by September, but the current circumstances have easily added 6 months to our timelines.
The issue of adding an Independent Non Executive Director to the Board has been raised before. You will find this on page 26 of the 2018 Annual Report and Accounts. For now Michael de Villiers as Chairman handles most of the shareholder enquiries, but normal day to day enquiries are I believe handled by the Co's PR Company, Yellow Jersey.
I have no idea what you mean regarding ethical considerations concerning the new partner. Please be careful what you say. We are lead to believe this is a very large Turkish conglomerate with interests in many construction fields.
Again it might be worth you reading the Annual Report & Accounts as this covers Corporate Governance but also the various assets/projects. You ask about Salinbas in the Hot Gold Corridor. Please read page 16.
I quote- " The new three-dimensional model has assisted with the visualisation of a highly prospective gold-silver bearing stratigraphic horizon located between volcanic rocks and limestones, which in parallel with the discovery of Salinbas North, has enabled the definition of a JORC Exploration Target of up to 2.7m oz gold & 16.1m oz silver in addition to JORC indicated and inferred Resources of 1m oz gold." "There is potential for further resource extensions to be delineated within high-grade and steeply plunging breccia pipes (akin to the nearby Hot Maden), which likely feed into the Salinbas Horizon. These have all been brought to the markets attention via RNS's which you will be able to find on the Co's web site.
For now nothing has changed and we own Salinbas, Aedala, Derinkoy North & Hizarliyayla 100%. Decisions regarding drill programmes etc. are totally under our control.
I'm sure the Co. will respond to your email. They are very approachable and would not ignore it. Perhaps both sides need to check junk boxes!
Can I ask if you hold shares in AAU? I'm pleased to help, but I think you probably could do a bit more research yourself if you are genuinely interested in Ariana Resources as a long term investment.

As I mentioned they did not just change Auditors on costs grounds but this was an an added benefit. I really don't think there is an issue here at all. Please let's move on.

Is the weakness due to the fear regarding recent Placing shares coming onto the market soon with those taking a quick profit from 11p?

I think it is probably best if you channel your questions direct to the Co. I would add if it helps that from my understanding Ariana had for sometime been frustrated with KPMG and were looking to change Auditors. The main Accounts last year were signed off as we know, But late in the day, KPMG wanted the subsidiary Accounts reformatted for some reason. This came as a surprise and caused a lot of backward & forward discussions. That in all likelihood made relationships even more strained. It was all about presentation, nothing to do with the actual numbers. Appointing the new Auditors has meant a different approach. The Accounts are being updated as they go along, so next year we should see them completed in a more timely fashion and of course at less cost. The Co. see it as a win win and Michael the Chairman is delighted with the change.

That is a great article. I can only see the publicity cranking up from here. With some top brand names around for contracts this could be very exciting. It’s rare to see a CEO talk so openly and enthusiastically about his business imo.

Reminder: From the web site on Salinbas: Let's get on with developing this asap. AAU told us last year they had started Environmental baseline studies and associated scoping work required in advance of an E.I.A. Plus drill planning ahead of a drill programme starting Q2-2020 (July?) Did the MoU put any of this on hold or are we still pushing ahead?

"With over 1Moz defined, exploration at the Salinbas Gold Project has indicated the potential of the area to host major gold and base-metal mineralised systems. The Salinbas Project represents a significant opportunity for the future growth of Ariana.

The project comprises three notable licence areas: Salinbas, Ardala and Hizarliyayla, all of which are located within a multi-million ounce Artvin Goldfield. The “Hot Gold Corridor” contains several significant gold-copper projects including the 4Moz Hot Maden project which lies 16km to the south of Salinbas and 7km south of Hizarliyayla.

In addition to Salinbas, at the Ardala copper-gold-molybdenum porphyry there are consistent and strongly anomalous areas for copper, lead and zinc, with significant potential for coincident gold and silver, which have only been partially drill-tested. Further south, the Hizarliyayla prospect is partially hosted within the same stratigraphic sequence as the Hot Maden discovery."

Hope you are right.
What puzzles me is the money comes from Computershare the Registrar. Why would they issue the money by cheque. That can't be right? If it was coming direct from the Co. then perhaps yes. But I'm very sceptical.

Being a cheque H.L. will then wait for the cheque to clear before crediting accounts. If it was posted first class post on 30th there is no way that they wouldn't have received it by 5th May. Someone is telling lies and I think the FCA should be informed.

Mr Blair said rapid antibody tests were 'absolutely for sure' already available for mass purchasing and 'you have got five or six British companies making these tests and selling them abroad or even selling them to people in this country'.

The former prime minister said the Government needs to make use of all available laboratory capacity and to support the roll out of 'rapid, on-the-spot' antigen and antibody checks.

HL says it is being sent by cheque to them ! Not yet received. Cheque in post!! Heard that one before. How is it some have received the dividend?

Thanks Rudey. Do we think the BBC etc will cover the launch?

What does having the test do? Does it guarantee you are immune?

Yippee . Great news. Bit of nice humanity in the words as well. This is going to be a great gold Investment stock imo,. but do your own research.

My understanding is that where to trade, which market platform, is down solely to your broker. He will look to see who is offering the best price.

Core strategic goal in 2020 is to find ways to unlock the huge potential value of the 4.2moz Dugbe Gold project. YES. Very happy with that.
Not even in our Mkt Cap valuation yet for sure! Well done Dan & team. Solid set of results and debt free now H1- 2021. That seems like 6 months earlier.
Why is it taking everyone so long to recognise the value here?