Member Info for Willowman

Very good posts. I agree with that 100%.

I agree with that Benji. If most of the money is to be spent on exploration then we would be just as well to progress Salinbas on our own using the profits from Kiziltepe and retain 100% for longer. Either way all of our money will go into exploration. The deal only makes sense for shareholders if they are going to benefit. I like the idea of a generous but not excessive special dividend and a modest ongoing dividend to help underpin the share price.

Thanks for sharing jupiternmars. I thought Kerim appeared quite pleased with himself and very upbeat about the jv. A lot of irons in the fire and a potentially very bright future for us.

I know we will be reduced to 23.5% but of a larger entity and we won't have to use all of our cash to progress Salinbas. That will hopefully mean more free cash for an ongoing, albeit small, dividend. Maybe

I feel very silly Noel, you were right all along this stock will never do any good. Even when the deal is done and dusted, Salinbas is in development and we are paid that special dividend. Please find it in your heart to forgive me and my silly silly optimism.

I did however post that we are in for a volatile ride. Within this context volatile means up and down. That will all just be daily noise created by penny traders who think they are the next Wolf of Wallstreet. The lth here will quietly ride it all out and simply wait for value to be created in the company and for that value to be reflected in the share price. Simples!

Quite right thechurch, I had overlooked the following

(to which Proccea will be contributing)

Very vague though.

There is an element to this that I am uncertain about, I may have overlooked something in the RNS.

We sell 53% of Zenit for 50 million, the new partner shoulders the expense of exploring and advancing Salinbas. So we get 25million, as do Proccea. Salinbas is rolled into the new look Zenit, so we get a free carry on an amazing asset. Our part of that deal is the asset but what contribution do Proccea make to that deal. It initially looks as if they are getting a share of Salinbas with a free carry for nothing.

I could well be misunderstanding this so would welcome clarification.

Ta

Dibs

The Proposed Partner will ultimately hold 53% of Zenit, with Ariana and Proccea holding 23.5% each.

So we will hold 23.5%. A reduced percentage but of a MUCH larger company. Plus a free carry on Salinbas.

I think we may be in for a bit of volatility, the beermoney traders are here and when the herd arrives we will be inundated with rampers and derampers. For lth however it matters not a jot, hold onto your shares, enjoy the ride, watch your investment gradually attain fair value. Oh and don't forget the possibility of a "special" divided. How good does that sound?

OMG I've turned into one of those ramptastic types!

I guess someone will be feeling a little bit silly now. There again not everyone likes it when a stock they hold goes up by over 30% in one day. Personally I love it!

Well done to KS and the team, if this goes through it will be a company maker.

Good luck all lth, even those who like footie.

Noel, I've heard it rumoured that you're a "sucker".

That would seem to be a good bit of progress. I would be more excited if he was our new CEO but I guess that he wouldn't be in our price range.

Thank you for your useful contribution Noel, I 'm sure most of us found it very helpful. Perhaps you should consider an investment blog with such erudition, people would flock to sit at your feet and delight in your wisdom.

Hi Tester, I accept all you say in your response. I was venting frustration as I feel that MC has wasted some years on aspects of this project, I also feel that he has been too slow to adapt his plans. He should have ditched the resettlement plans long before he did, he should have also stopped spending money on the drill bit long ago. We have had a good resource for many years, he could have gone down the route of smaller scale production a long time ago.

He isn't a geo or a miner and I have strong doubts about him being the man to take this project forward. Perhaps it is time for someone more qualified to take up the reigns . Someone with the required skill set, drive and industry contacts?

I would rather hold shares in a gold miner producing 30 to 40 thousand oz than in a sinking project still proclaiming the potential to produce 120,000 whilst the waters are lapping around our waists.

I am starting to feel that you may have a point. Every time that I listen to Mark give a presentation I now think "here we go again, the same old bull". Material progress is what we need, not waffle and promises but real solid progress. I know, we just need a bit more patience and a bit more and a bit more adinfinitum.

Mark stop dragging your feet, stop frittering money on drilling as the market doesn't care, stop repeating the same presentation.

Instead buy a small second-hand plant, high grade some ore and start making some bloody money. That has to be a better option than the drivel he keeps repeating. No one wants to buy us, no one wants to do a toll deal, we are too small and management unproven to fund 100+ million.

Get on with it man!

Ah that's better.

There is clearly something wrong here, we are showing blue. I seem to recall blue means that the share price is going up, I am a little vague though as it has been so long.

Just a little pullback to consolidate John, we will soon be off to the races again. With the globalist central bankers up to their counterfeiting tricks again gold and silver can only head higher.

Harry was given the boot from Emed for being totally useless and not up to the job. He then moved on to Kefi where he has maintained his unblemished track record of being totally useless and not up to the job!

Atalaya are now doing very well operationally and the have what seem to be a very capable management team who are hungry for challenge and growth. I would be more than happy for Ariana to have some kind of tie up with them. Kefi under Harry's management however would be a very different story. We should stay well clear of him unless of course we wish to buy a couple of second-hand cars which conk out 100 yards down the road.

Perhaps so, I just hope that they aren't in a hurry. Just a bit more patience (patients?) required then we will all be rewarded with great riches. One lives in eternal hope!

Small scale production from the high grade pits would get my vote. Keep costs down, keep profits high and pay off debt quickly then expand. If we could start with second-hand kit then even better.

I have been here for over 10 years so whatever we are going to do just get on with it. The whole "just need to be patient" line starts to wear a tad thin after this long.

So does that put an end to our hopes of a toll deal?