Member Info for Willowman

One for you John, I think they may be trying to keep you quite.

Not sure that you will like " notably, we are advancing into the construction stage of the Tavsan Project ". May be a bit woolly for you. Several rigs on Salinbas must be a good thing though?

thefierce1, sadly I agree with you. I'm simply clutching at any faint hope that may offer an end to this long painful hari-kari

Are we flogging off the family silver to pay off money owed that has been ****ed up the wall on poor investments?

It is beginning to look like the BOD have managed to snatch defeat from the jaws of victory. I hope Sandfire do make a move to buy us out and bring an end to this self destruction.

Please, I beg you, no I implore you. Don't use the phrase "glowing in the dark". My therapist has moved out of the area to escape my drooling and rambling brought on by the very mention of "glowing in the dark" . If my episodes reoccur how will I manage without her?

Thanks for posting that FOF. I really enjoyed listening to it, so upbeat and no nonsense. He oozed matter of fact confidence as if he has no doubt about how things will play out. I also like the lean, highly experienced team approach.

https://m.youtube.com/watch?v=LCZMhs_xpjc

Love it, thanks for sharing.

Now then chaps, are we all moving towards being happy(er)?
We've all been doing a lot of moaning recently as the share price fell. Well, for now at least, we are on the up so let's all enjoy it and give out good vibes for Ariana.

I initially thought the same as you John, which worries me. However, the sentence that I copied does suggest that permits, finance and start of construction are imminent.

I can't remember how long construction is expected to take but if we say a year then perhaps things are looking up?

One for you here John.

Mine construction is expected to commence during Q2 2022, once the required permits are finalised and bank finance has been approved."

I know that this doesn't relate directly to us but it sure is progress and proof of concept for the KCB

I like it anyway. Apologies if already posted. Link may have gone a bit funny but can be seen on Mtr board

https://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=02507173

I love it, thank you for posting.
It's given me a warm glow of optimism, this is real, this is going great guns

Pompous waffle, pompous waffle, pompous waffle.

Point proven.

I've had over 10 years of MC's beige personality and sclerosis so I've put in the time and earned the right to be fed up with him. Yes I could sell but I believe that the deposit is top notch, I just wish MC would hand over the reigns to someone who has the required skill set to move it forward. However, I assume that in a gold bull market even MC won't be able to hold this back. We shall see.

Careful AndrewF, there are strict rules around posting on this board. You are breaking them and the board moderators will pounce on you.

Go StrikeX!

John, I've pulled you up for being grumpy in the past but I think that it may be contagious. I am becoming less and less enamoured with Ariana as the story unfolds, I am now bordering on selling out and redeploying the funds. I'm reluctant to do it because the potential is there but we seem to have lost our way.

There have been a few periods over the last 25 years when I have had a very good run in the market and made very substantial sums of money. The big problem with that is that I then start to believe that I have "the touch", that I can't make a bad investment. Sadly, it is that very time when I have made all of my worst investments. Too confident, too sure of myself, I take my eye off the ball and get careless then lose big-time.

I have thought, the last couple of interviews I've watched, that Kerim has a slightly satisfied air about him with a pleased with himself grin.

Ok, nothing wrong with that as he has done well. My point is that he now seems to be doing rather less well and I'm concerned that he may have fallen victim to his own hubris?

Just a thought.

Hi chaps, people are clearly not happy with the way thing are going here and with good justification.

Paul, several times now, you have mentioned Ariana's need to fund Tavsan and Venus as an argument against the the dispersment of funds in the form of a dividend. Tax issues aside. I don't believe this to be accurate as both projects are to be funded by the holding companies.

Tavsan is held by Zenit, the 3 way joint venture and its development is to be funded by debt taken on and repaid by Zenit through production revenues.

Venus is to be developed using funds raised through an IPO of Venus.

All of this, whilst seemingly attractive, raises 2 initial concerns for me.

Firstly Venus, I am concerned that any positive credit that Kerim may have in the market will be massively outweighed by the negative sentiment toward the odious creature that is Harry A Adams. He has spent many fruitless years trying to raise capital to fund Kefi's Tulu Kapi into production. Before that, many wasted years at Emed. I worry that the IPO may not be well supported.

My other concern is even more worrisome. When we expanded our Turkish joint venture we received $30 million from Ozaltan, $ 5.75million from Procea and $2million for satellite projects. Total of $37.75million. $7.6million spent on the 3 dividends leaves a tasty residue of $30.15million. Bearing in mind that money is payment/compensation for the revenue of forfeit production it represents a very significant percentage of the company value. Whilst we dabble here and there in unstable jurisdictions and with unsavoury characters I am unaware of any value accretive plans for this wedge of cash.

I'm fairly sure that we had pressure on us to enter into the current partnership as part of the cost of operating in Turkey. Also, perhaps Kerim wanted a new challenge. That's all well and good but I would like to know in some detail how Ariana's treasure is to be employed.

I do have other concerns but enough for now. If I've got any of this wrong then please let me know.

Ariana remind me of a used firework, at first glance it looks as it did before the show but closer inspection reveals that it is empty inside and without the promise of excitement. I am left with a fond memory of anticipation and its brief former glory. I rather fear that the pyrotechnicion has failed to sequence his display properly due to being distracted and wondering off.

Kerim has really taken his eye off the ball and I'm not sure what we have to look forward to.

Quite right ICB, people who have had money invested in Condor for over 10 years have no right to level any criticism at your hero Mark. That fact that he clearly lacks the necessary skill set to push this project forward is obviously irrelevant to you and the rest of Mark's fan club. No, I also don't possess the skill set to develop a gold mine, however I aren't being paid to do that particular job. Mark should have stepped aside long ago to make way for someone more able to fulfil the task. His ego, lack of charisma and lack of ability are costing people a lot of money so I think they have every right to criticise him despite your attempts to silence legitimate concerns.

If Asher can't get a deal over the line at these oil prices then something is very out of whack with either him or our Cameroon target. If everything is as we are told then potential partners should be hammering the door down.