Member Info for VanVan

Correct me please if I’m wrong but I believe in4cedros is Arry from ADVFN who we remember from his AGM stunt, who doesn’t actually own shares in Ariana.
Am I also right in thinking his motives are far from clear?
I hope that others who post on here and who are shareholders and have a genuine interest in the well being of this great Company, will consider raising a question(s) for John.
I have the utmost respect and admiration for the Directors and what they have achieved in difficult circumstances to get us to where we are today and I’m not embarrassed to say so.

Ariana has been receiving money for sometime now in respect of funds it leant to the JV.
In fact Proccea is as well and I agree these are often referred to as dividend payments from the JV company.
The sums aren’t that large but are regular and of course useful adding to our cash flow and this has been communicated. Perhaps you have missed that. The actual amounts have been commented on, but I don’t currently have my notes with me. The figures are set out in the Annual Report and Accounts of course.
Your original question mislead me to think you were talking about dividends to shareholders but I now see that you also fully concur this is not what Ariana is in business to achieve. I’m sorry I misunderstood you.
I stand by my comments on the road and agree with John that is has been done to death. Probably no point annoying them. It sounds like shareholders want to question their every decision which I can see would be annoying.
But do as you see fit John. It is kind of you to carry the baton and put yourself forward as the front guy.
You’ll soon wish you didn’t mention you were attending!!

This is an Exploration and Development Co. not a yielder. If you want dividends invest in something like Taylor Wimpey. We want free cash to be invested in developing our assets like Salinbas to generate capital growth.
The Board have always been totally clear that Ariana is an E&D Company. Dividends are not on there agenda and I suspect won’t be unless the Board unfortunately run out of ideas of how to invest our money for growth. It is embarrassing to ask about dividends imo as that shows a lack of understanding about Ariana’s modus operandi.
As to the road, this is being progressed by Ariana as to wait for the Govt to proceed would mean unnecessary delays. The Board can see the financial logic of progressing with it straight away as the rewards versus costs make sense.

Hi John,
Please don't feel you need to ask these questions if you prefer not. I'll leave it to you to use what you want.
Kerim may of course cover some of this in his latest presentation.
Hope some of this might be of help/interest.
1.Salinbas: to undertake the main thrust of next years drill programme after the snows melt in April/May, we will need permits. Hopefully these will be granted in time, but can they comment on how sign-off is proceeding.
2. Tavsan: a limited drill programme was proposed leading to a Reserves/Resource study - results due late 2018. How is this progressing?
3. Kiziltepe: the drill programme at Arzu North (plus Arzu South, Banu & Derya) should lead to an increased Reserve/resource & Life of Mine extension. How is this work progressing?
4. Kepez: Kerim suggested this pit was being brought forward and could be a feed pit for Kiziltepe from c.mid 2019. The mining permit application process is underway (started May 2018). Note Ariana have already been granted the E.I.A. Can they comment on permit progress?
5.Karakavak: A Scoping Study is underway and should be complete late 2018. Can they comment on progress?
6. Kizilcukur: Work has commenced on an Internal Feasibility Study (I.F.S.) to consider the viability of mining and trucking ore to the Kiziltepe mine. Depending on the outcome of the I.F.S. they may consider selling the asset into the J.V. and seeking a mining permit. Can they comment on progress?
I think those are the main milestones. I'm not sure how one would prioritise them in terms of value creation, but I suspect adding to the reserves and lengthening the Life of Mine at Kiziltepe are pretty central when Institutional investors give us the once over.
Salinbas and the other assets in the Hot Gold Corridor remain the elephant in the room hopefully and therefore drill permits will also be something I'm sure investors will be looking for.
I would like to see Tavsan developed to a clear published timetable, but can accept that whilst Kiziltepe can self fund the work needed at the priority Salinbas, the focus and cost of Tavsan might drop a gear for now. Another 30,000 ozs p.a to the J.V. from c. 2021 is not to be sniffed at of course.

I may just take you up on that.
I’ll give some thought to it.
Cheers

Very impressive. Worth listening to this.
Thanks for link.

Cube Investments interview with Anthony Coombs, Chairman:

hTTps://cube.investments/cube-podcast-5-interview-with-su-plc-sus/

Did I miss an Alan Broom interview talking with John Meyer of SP Angel?
Anyone got the link please?

Hi John
All I can impart is what has been stated so far.
7 Forestry drill permits & 2 licences needed to complete full programme but licences held will allow them to commence.
I believe they already have approval from the local Forestry Dept. in Artvin.
Kerim seems to think the central sign off process is going well.
Phase 1 drill programme is 2500-3000 metres costing c. $400,000 starting hopefully April 2019 and lasting 2 months.
Phase 2 drill programme is c. 5000metres
Overall they aim to drill 75 holes over 10,000m costing in total c. $1.5m.
I think there is still the potential for further data work results in the meantime.
Does everyone agree with that summary?
Hope that helps.

I won’t get into a political debate, but I liked your post ODonnell.
Back to AAU, I’m hoping Panmure Gordon will add to our good news flow by issueing fairly soon their updated Brokers Note with revised SP target (over 3p I suspect).
Perhaps that could be the catalyst for a change of sentiment and increased volume.
Have a good weekend.

hxxp://www.londonfinex.com/wp-content/uploads/2018/08/07-FINEX-Sener.pdf

John was of course quoting gross profits, or something close to EBITDA. Net profit will as you say be a lot less but C3 & C1 costs we have always been told aren't that different.
As we look forward the picture gets ever better of course with the construction loan cleared by April 2020. In addition the J.V. is paying back loans to Ariana on a monthly basis and assets held by Ariana 100% like Ivrindi, Kepez & Kizilcukur are likely at some point to be bought into the the J.V. at perhaps 3 times costs.
As John says the mine asset increases in value in effect as the loan is decreased. Increasing Fixed assets & reducing liabilities.
What is also important in value creating terms, is that drill results from various projects will increase Reserve/resources, increasing life of mine timescales (Tavsan, Kiziltepe).
Then we have Internal Feasibility Studies due next year for Kizilcukur and probably Tavsan. Plus a Scoping Study for Karakavak. These quantify value and should bolster share values.
Finally lets not forget we could well get satellite pits in production feeding Kiziltepe from mid 2019 at Kepez & also at some point from Kizilcukur & perhaps Ivrindi.
Obviously the major drill programme at Salinbas/Ardala in 2019 could open Pandora's box with up to 10,000 metres of drilling proposed.

Pounds & US dollars John

1006 GMT - Ariana Resources is well placed to exceed its production guidance for the year, Panmure Gordon analysts say, adding that they plan to revise their guidance for the company shortly. The brokerage says its target share price of 2.75 pence a share offers significant upside as the company continues to increase production at the Kiziltepe mine, in Turkey, and develop its longer-term portfolio of assets. Panmure Gordon maintains its buy recommendation

The media would have you think the economy is in a bad place and yes they have inflation and currency problems due in large part to US sanctions, but look at their Balance Sheet. They continue to accumulate gold and have one, if not the lowest debt to GDP in the whole of Europe! Yes really. Around 45% I believe compared to Germany which is over 60%. Ours is over 80%.

Has your recording been copied across to ADVFN?

https://drive.google.com/file/d/12QRlLjAojWKukLipQ4_1MkpOZOUTjHoJ/view

I agree but we’ve been waiting for the next round on news and the Santa Rally!
Next week we might get the full Quarterlies with lastest cost numbers etc.
It would seem there could be general updates due soon on E &D
work and what Michael hinted at in the last RNS. Is 2p still possible by end of year? Are we a coiled spring waiting to be released? We seem to have been stuck around this level for far too long especially given the progress made.
Fingers crossed for a new phase in Ariana’s development.

Not sure if this has been reported but I heard them say Scancell is punching above its weight at least twice.

Brilliant Steve. Thank you.

Thanks to everyone for feedback. I was very encouraged by the slide that shows the timescales. The CEO indicated that late 2019/2020 could be transformational. His word. There must be a good chance all the LTH’s are finally looking at transformational value over the next 12/18 months.
I was very impressed by Sally & Lindy. What an impressive team.
Costs seem well managed.
The Board seem genuinely as surprised as investors that the SP is so unrepresentative, but I got the impression they are all very confident.
Well done everyone. Board made themselves available after the formal bit.