Member Info for VanVan

I know that's what they say, but shareholders will understand if there is slippage beyond their control. Most other Co's provide this basic information and so should we. It is the most important slide in the presentation imo. It shows us in a nut shell how they are aiming to create value for shareholders. No excuses to not provide it imo.

Thanks for sharing this. I doubt we will get all the value of Tavsan production in 2021. I’m not sure about the £30961 JV Cash number in 2021?
I eagerly await the Tavsan update. I think we should all take every opportunity to ask the Co. to reinstate the Gantt chart slide. The presentation is after all for us the investors.

I think it was me talking about “leverage” which benefits high cost producers more proportionally as the gold price increases. But as you say you have to weight safety against risk. Also interestingly Tavsan will be a higher cost producer so the timing could be right to start production in a higher gold price environment. By 2021/2022 who knows the gold price could be over $2000 per oz. Doubling production is nice which ever way we look at it, especially with limited debt.

Would you object to me putting this on the ADVFN thread?

But c. £40m of debt?

My post on ADVFN this morning:
A lot of gold shares have benefitted from the bounce in the gold price, including AAZ. There aren't many like AAU that have still gone unnoticed. Still under the radar. If the gold price holds around $1500 our Market Cap. should be over £30m or 3p per share irrespective of what is going on with the developments of our other assets imo.
Next week we will probably get the Quarterlies and the all important Tavsan update could come at anytime. I must admit Kerim said the position on Tavsan would be much clearer before the end of 2019, but I suspect an update isn't now far away. There is also those final Salinbas results to come plus potentially news on the resource at Kiziltepe and the strategic direction for Kizilcukur. So lots of news that could let the coiled spring go at anytime. Fingers crossed. P.S. I would like to see silver break out and for us to start being viewed as a legitimate silver play as well.

Twitter this morning- RC drilling at Arzu North, Kiziltepe Mine well underway - great progress by team!

There seems to be a lot of potential news flow backing which hopefully will restore interest in the stock.
1. Tavsan - I believe the work here is being undertaken by the J.V. Company, Zenit, & this seems to interfere with the timing of releases. Back on the 29th March we were told in an RNS they were doing 600m of diamond drilling but I don't think we have seen those results. They were also waiting for Permits for 1300m resource drilling and 1600m exploration drilling.
2. Kizilcukur - We should get the feasibility results relating to the viability of trucking ore to the Kiziltepe plant. They are also suppose to be preparing a revised Mineral Resource estimate upon which they can make appropriate decisions about the future of the project. Will it be sold into the J.V.?
3. Salinbas - additional results from certain mineralised intervals are still pending from the laboratory.
4. Kiziltepe - A new geological model encompassing the Arzu North, Derya, Ceylan, Aybor and Arzu Far North vein systems is due. The model will be updated with the inclusion of the new Arzu North drill holes. Should improve confidence in the current resource. Then they aim to start new pit optimisation work to identify potential to merge Arzu North & Derya pits and in defining further economic mineralisation along the Ceylan and Arzu Far North extensions. Mining at Arzu North & Derya is scheduled to start simultaneously during Q4 following receipt of forestry permits.
Corporate - Quarterlies mid August and then Interims. Plus they have talked about the possibility of looking at a further strategic investment. Perhaps between now and year end we will get an Institutional investor. The gold price rise helps margins of course which are already amazing. And by Christmas the J.V. loan used to build the Kiziltepe mine ($33m) will be 90% repaid.
So this quite period won't last long in my opinion, but please make your own assessment.
Have I missed out anything?

Do the BofD read this thread?

I bet all those family members who are said to have shares are beginning to wonder if JP is for real.

I'm impressed by the amount of loyalty shown by P.I.
I concur with the sentiment that they have tried to do right by shareholders, but I can't say I'm impressed.
It seems to me to have become a bit of a dog's dinner.
1. weak mgmt of the Cobre contract
2. Recent Placing - left an unpleasant taste
3. Redmoor purchase against this backcloth.
4. Chairman's potential conflict of interest - NED & SML
5. No provision for contingencies.
They really need to get a grip and demonstrate they can manage their way out of this situation which as I see it is largely self inflicted. We don't want or need more Mr nice guy, we need the Cobre issue sorted or I see a very difficult immediate future.
Sorry if that ruffles a few feathers!

Seems to be lots of excitement about how silver could out perform gold in the next bull run - has it already started? There aren’t many Silver plays around, but Ariana could be one of them.
We tend to overlook the Silver value, although the gold equivalent figure always take it into account of course. I didn’t see it recognised in the recent Panmure Gordon share price target however. Did anyone else?
Going forward the silver element has the potential to be quite significant for Ariana and add real value to our bottom line. Bring it on.

Picture on twitter today:
Southern end of the Arzu South pit - vein zone in foreground #AAU #gold #mine

Don’t forget ore from the variety satellite pits - Kepez, Etc.

Sorry for the repeat post! The new LSE site seems to have a few gremlins but looks cleaner.

Yes good to meet you both. Paul & I have meet before at previous AGM's but this was my first proper induction to John.
Thanks for the feedback guys.
For me it was great to be able to chat with Kieron Hodgson of P.G. They are obviously feeling pretty bullish on Ariana what with their BUY recommendation but also their apparent confidence to introduce the Co. to possible Institutional Investors. Kieron said they had done the homework for them presenting a Co. which could be bought with confidence, as Ariana consistently delivers. They normally deal with much larger Mkt Cap. co's so this is a real feather in our cap.
Kieron Hodgson was very proud of his slide that Kerim used, showing Ariana as one of the lowest cost producers in the world. I feel confident that Ariana has done enough proving, as it were, to really start interesting bigger investors. We shall see.
But as has been said the tone of the meeting was very upbeat.Very relaxed and very confident. Kerim talked about the potential to scale the business. Both Tavsan and Salinbas have the potential to deliver very highly attractive investment propositions.
As John has said the original study for Red Rabbit showed grades ranging from 4 g/t plus down to 1.5 g/t. Over time the grades will reduce and costs increase but again as John says there is the stockpile to compensate and then the satellite pits at Kizilcukur, Kepez, Karakavak etc. so I am confident they can manage the transition going into overall 50,000 ozs p.a.target once Tavsan is in production in the not too distant future. Perhaps 18 months? Tavsan already has some good grades and potentially there is more to come from Tavsan south.
There is so much to the Ariana story and of course today they tell us they are "at at advanced stage of evaluating other interests in the geographic region of Turkey". They were congratulated for there great performance , but I suspect the real investing journey has only just begun.

Yes good to meet you both. Paul & I have meet before at previous AGM's but this was my first proper induction to John.
Thanks for the feedback guys.
For me it was great to be able to chat with Kieron Hodgson of P.G. They are obviously feeling pretty bullish on Ariana what with their BUY recommendation but also their apparent confidence to introduce the Co. to possible Institutional Investors. Kieron said they had done the homework for them presenting a Co. which could be bought with confidence, as Ariana consistently delivers. They normally deal with much larger Mkt Cap. co's so this is a real feather in our cap.
Kieron Hodgson was very proud of his slide that Kerim used, showing Ariana as one of the lowest cost producers in the world. I feel confident that Ariana has done enough proving, as it were, to really start interesting bigger investors. We shall see.
But as has been said the tone of the meeting was very upbeat.Very relaxed and very confident. Kerim talked about the potential to scale the business. Both Tavsan and Salinbas have the potential to deliver very highly attractive investment propositions.
As John has said the original study for Red Rabbit showed grades ranging from 4 g/t plus down to 1.5 g/t. Over time the grades will reduce and costs increase but again as John says there is the stockpile to compensate and then the satellite pits at Kizilcukur, Kepez, Karakavak etc. so I am confident they can manage the transition going into overall 50,000 ozs p.a.target once Tavsan is in production in the not too distant future. Perhaps 18 months? Tavsan already has some good grades and potentially there is more to come from Tavsan south.
There is so much to the Ariana story and of course today they tell us they are "at at advanced stage of evaluating other interests in the geographic region of Turkey". They were congratulated for there great performance , but I suspect the real investing journey has only just begun.

Why did they agree to pay the balance on Redmoor knowing full well the payment was dependent on another payment where there had already been problems?
Would you do that?
Well they did it and then gave the client the benefit of the doubt only to be let down. Surprise?
Does this client have any intention or indeed means of paying I ask myself? Are we being played along?
It's a mess.
Yes shareholders wanted it sorted, but given the amount involved most probably felt that a Co. with FCF could secure a temporary facility with a Bank to cover the position & avoid dilution.
But no. Let's have a Placing, dilute our loyal shareholders and give ourselves some cheap shares.
Let's not open it up other than to a few chosen few.
I know John Peters can present it all lovey lovey, but the hard facts as I see them are different.
I trusted them to do right by shareholders. I trusted them to manage the situation professionally.
But on both counts I think they have cocked up and I can see it leaving a bad taste in the mouth of many investors for sometime.
They obviously feel they can get away with it and if the $4m comes in tomorrow then they probably will.
So for them and of course us, let's hope it comes good.
I hope shareholders will make known their feelings on this.

90% paid off debt by year end. Just runt of debt between then and Easter. So FCF increases from January and from now due to increase in gold price.

1.4p - oh dear. Is this the Co. that says it is aligned with shareholders? Shocking. This damage will stay with them for ages. Why do that? Very poor judgment imo.