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Can we expect an updated Note now Q2 results are out?

Headintclouds: is that really only your 2nd post? If so you’ve started with a good stock. !!!

Anyone going? Thanks if you are. Hope to hear news.

in4cedros: That seems ok to me. But you may recall there was mention of a second ball mill at Kiziltepe and Kerim replied that if they did that it would obviously compress the life of mine. I thought he implied that if one or more of the satellites delivered more ore, then of course it could be considered, but not currently. When I invested years ago in Medusa Mining, they used to only increase the Resource/Reserve each year by enough to keep the life of mine constant. Apparently this was done to prevent someone making an auspicious takeover bid. At Kiziltepe it is great that they have so much still to explore & develop. I suspect the mine will go on producing for a long time and with Tavsan more than doubling annual production in a few years, we will be throwing off a lot of cash. EPS will look very tasty!

Doh.

Few other tit bits from AGM. Our Kiziltepe stock pile is now the equivalent of 4 months Ore. The Kizilcukur Feasibility Study will be completed in the next 6/9 months. At that stage Ariana might decide to sell it into the J.V. Tavsan - Although the 2016 Scoping Study shows 4 years for L of M., Kerim expects this to increase to at least 7 years and possibly 10 years idc. The Tavsan Internal Feasibility Study & E.I.A. should be completed in 2019, but we can expect a new reserve study from Tavsan later this year. The Balance Sheet seems to value the Assets very conservatively imo. The reducing loan is increasing the value of the J.V all the time which has a stated value of just £2.5m!! The work they have done and plan to do next year at Salinbas (75 holes over 10,000 metres) is very exciting and shows their understanding of the potential increases all the time. Govt. Forestry Permits etc. for the Salinbas work programme are expected Q3/Q4 2018. There continues to be potential to extend the L of M at Red Rabbit as the Satellite pits are explored & developed. Trial mining will take place at Ardale in H2 to meet the terms of the Permit. There is an awful lot going on on so many fronts. You have to agree this is pretty impressive for such a small Co. with such a small team.

I posted this on ADVFN this morning.
Few other tit bits from AGM.
Our Kiziltepe stock pile is now the equivalent of 4 months Ore.
The Kizilcukur Feasibility Study will be completed in the next 6/9 months. At that stage Ariana might decide to sell it into the J.V.
Tavsan - Although the 2016 Scoping Study shows 4 years for L of M., Kerim expects this to increase to at least 7 years and possibly 10 years idc.
The Tavsan Internal Feasibility Study & E.I.A. should be completed in 2019, but we can expect a new reserve study from Tavsan later this year.
The Balance Sheet seems to value the Assets very conservatively imo. The reducing loan is increasing the value of the J.V all the time which has a stated value of just £2.5m!!
The work they have done and plan to do next year at Salinbas (75 holes over 10,000 metres) is very exciting and shows their understanding of the potential increases all the time.
Govt. Forestry Permits etc. for the Salinbas work programme are expected Q3/Q4 2018.
There continues to be potential to extend the L of M at Red Rabbit as the Satellite pits are explored & developed.
Trial mining will take place at Ardale in H2 to meet the terms of the Permit.
There is an awful lot going on on so many fronts. You have to agree this is pretty impressive for such a small Co. with such a small team.

From the AGM I’ll just quickly comment on Salinbas drill programme. As people say, won’t start till after the snows have gone, so end Q1 early Q2 next year. Costed at c.$1.5m to complete the 75 drill holes, so expectation is that this can be self funded, assuming the gold price etc. This will provide them with a wealth of very strong data so they can then revise their exploration plans as they consider the next phase. The Chairman confirmed there is lots of interest in Salinbas, but we want to strengthen our data & understanding before the options are considered. To extract maximum value. Each bit of exploration at Salinbas leads to more excitement like the Breccia Pipe etc. There is so much to discover. I think Shareholders are genuinely being over anxious about dilution. Surely the Chairman’s recent purchases also underpin this. Another interesting point is with repayment of the Bank Loans the Asset value of Ariana will be c. £25m next financial year end and that is based on a silly value of Kiziltepe in the accounts of just £2.476m! Judge that £2 against the current Mkt. Cap. Something will have to give soon. Value must out over the next 12 months imo. The disconnect the directors have spoken about is so clear on so many criteria. Very bullish and exciting AGM with so much lined up to deliver value.

Seven investments remain active with 3 being litigation related & 4 relating to special purpose vehicles.
"Continue to work to monetise all of the Company's remaining investments by 31st Dec 2018."

Video https://arianaresources.com/in-the-media/1178-salinbas-model

Well worth a look. Very professional. It still sounds like the work will be staged no doubt to lessen financial demands. Hopefully this will be discussed tomorrow.

And now we have our own very encouraging news from the same region.

Great feedback- thanks. Well done Alberto & team for dealing so effectively with the issues on the day. This is a professional team who have proved they know what they are doing.

Why are they calling it Hod Maden?

June 26, 2018
SANDSTORM GOLD ROYALTIES RELEASES HOD MADEN PFS AND INCREASES PRODUCTION GUIDANCE


Vancouver, British Columbia | Sandstorm Gold Ltd. (dba Sandstorm Gold Royalties, “Sandstorm” or the “Company”) (NYSE American: SAND, TSX: SSL) is pleased to provide a summary of the results from the Hod Maden Pre-Feasibility Study (“PFS”). All figures are in U.S. Dollars and are on a 100% project basis unless otherwise stated. Sandstorm has a 30% interest in the Hod Maden project.



— PRE-FEASIBILITY STUDY HIGHLIGHTS

ECONOMICS

Pre-tax NPV (5% discount rate) of $1.4 billion and an internal rate of return (“IRR”) of 60%
Post-tax NPV (5% discount rate) of $1.1 billion and an IRR of 50%
All-in sustaining costs are estimated to be $374 per ounce on a co-product basis1
Upfront capital cost of $272 million
RESERVES

Proven and Probable Mineral Reserves of 2.61 million ounces of gold and 129,000 tonnes of copper
PRODUCTION

Mine life of 11 years with average annual mill throughput of 900,000 tonnes
Annual average production of approximately 266,000 gold equivalent (“AuEq”) ounces
Average head grade of 11.9 grams per tonne (“g/t”) AuEq


“Hod Maden was discovered only three years ago and has since made remarkable progress towards production, at a pace that few projects in the mining industry could match and Sandstorm is pleased to be partnered with one of the best Turkish mining operators,” said President & CEO Nolan Watson. “The PFS outlines total production of more than 2.6 million gold equivalent ounces over an 11 year mine life and with the by-product credits from copper, we expect gold to be produced at a low all-in sustaining cost. The current financing plan is 65% debt financing, leaving Sandstorm’s capital contribution at less than $30 million. I look forward to continued development at Hod Maden and as further exploration and technical work is completed, we expect this resource base to grow even larger than currently outlined.”

http://www.stockmarketawards.com/winners/

Any feedback from AGM please?

Very solid RNS this morning. Just doing what it says on the tin.

How do Cadence raise the £5m?

Hi Larry Dic & Swallow now over on ADVFN where I am Plasybryn. Hoping for a positive AGM on Friday.

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