Aurasian Minerals [LON:AUM] has identified up to five mining projects in Bulgaria and Serbia and intends to decide in the next few months whether to pursue these acquisitions, Chief Executive Officer Peter Mullens said.
Aurasian, a Balkans-focused junior mine, is listed on the London AIM exchange with a market capitalisation of around GBP 3.1m. The company would listen to advisory pitches and appropriate target proposals, Mullens said.
It will look to acquire full control of any project, he added.
Aurasian is looking specifically for gold or polymetallic plays, he said, or other assets with a precious metal component. Typically, it would target assets in early development, with discovered mineralisation but at the pre-reserves stage, he said, including gold projects in the half- to one-million ounce range.
However, it may look at larger and more developed porphyry assets too, he said. If it did this, it would look to acquire the projects and then farm down its interest to a private equity-type financial investor or a mining major, he said, but retain operatorship.
The company would fund any acquisitions through the public markets, Mullens said, noting that it has a shareholder base of venture capital and high net worth individuals that are very supportive of this strategy. It is unlikely to use debt to fund acquisitive growth, he added.
The companys flagship assets is its Chadine polymetalic project in Serbia. At Chadine, it plans to bring forward a drill programme to further de-risk the asset, he said. In the near term, it plans to drill a number of cores to assess the prospect's grades and mineralisation, and to drill further down dip to expand the resource base, he said.
It would then look to undertake a second round of drilling later in the year, he said. In around 12 months time, once this is complete and the drilling has added value, the company may consider monetising the asset, he said. It would not look to sell down equity on the project to fund the drilling programme as it prefers to move projects forward itself at this stage, he said.
The company acquired an option to earn up to an 80% interest in the Gokcinica project licences in Southern Serbia from Rockstone Group last month for an undisclosed sum, according to a company announcement. It is in the process of completing the due diligence and will decide whether to progress it at its AGM on 8 July, he said.
The company also intends to change its name to Tethyan Resources at the meeting, he said, and to consolidate its share volume.
Positive news, but cannot see that "hope value" exceeds more than 100% of cash in the bank. Therefore, total equity value, in my view, is no more than GBP2m or, based on current new number of shares outstanding of 535.158978m (not even including warrants and other share based payments yet to be made), c.0.375p per share. Too much fantasy in this stock already! Gold price under pressure as well this week.
THE monotonous tune of the SHORT-SELLING deramper:
"Going down, I'm afraid" ...."been in this for years and still losing money" ...."The BoD stinks"
"Oh dear" ? ...."Placing on its way, more dilution" ...."Heard whispers in the City"
"There must be a leak, it looks like a duster" ...."A friend of mine in the know"
"This company couldn't run a pi/ss-up in a brewery" ....."Word is, the financials are poor"
You've heard it all dozens of times before, yet these often used jibes are enough to create a degree of uncertainty ?
The words "Oh dear" or " I'm afraid" at the start of the 'posters' rant often sets the sp in motion.....DOWNwards!
Deramping SHORTERS !
Shorting a rising stock....is much worse when it is done by your resident posters that seemingly are your buddies and convince 'long' holders to give up!
What many pi's fail to grasp is the extent that shorting is taking place. Often we tend to think that the 'shorter' is done with and we expect the stock to now rise, now that 'he' is out of the way? You'd be wrong in many instances, for 'he' the shorter, is often followed by others that 'help' keep the stock down !
Some stocks fall after GOOD NEWS!
Is it being shorted or normal profit taking?
The underlying reason for many pi's taking early profits, is simply they are afraid they'll be left in paper losses AND because of the fear of shorting !
Once pi's know the stock is being shorted...they'll SELL UP IN THEIR DROVES !
We can't both WIN !
The 'shorts' therefore 'win' their bets, whereas the 'longs' lose the best part of their investment, possibly for some time to come......and just when you thought this couldn't go any lower, THEY'LL SHORT THE STOCK AGAIN !
Thanks for all your support. We are now at 4,401 votes!
AND SOARING !
(that's A LOT of irate investors!)
Investors are saying something? They are voting in their thousands !
Bookmark the links if you wish to 'pass the LINK/s on'.... or read later?
BE A PART OF IT
# The big problem with shorting is that THEY (the shorters) WOULD most likely lose most of their money IF they just 'bet' on the price going down without trying to 'help' it down?
So, there is the 'catch 22' scenario. No one would know of an RNS to be released that will contain BAD NEWS, if they did and then 'shorted' the stock, then they are guilty of 'insider trading'.
The only sure way to short a stock and WIN is to spread dis-information to defame the company with help from other posters that are in concert with them. To ENSURE that they don't lose the biggest part of their 'short', ironically, then, they must deramp with (seemingly) believable posts.
When the pro's do it, they simply get the media or well known 'crooked' tipsters, analysts or brokers to do it for them. (say no more). .They're all involved together!
The campaign against shorting is for the benefit of the 'cheated' investors that cannot control their investments due to the dirty tricks played out by co-ordinated shorting in order to tank the sp to abnormally low levels.
When the campaign is complete, the results will be reviewed by Govt legislators re- further action! The branch of the FSA ie FCA will be asked by Davide Serra to conduct an investigation into short selling practices, with the view to either:- an outright ban on short selling, or to be better and more vigorously regulated !
Well then, here we are.... A new dawn for what was TPJ. I'm looking for some groundbreaking strides here. I still believe this company WILL deliver. Good talented people always do.... We're due some good fortune.
Well, to answer your question, here is my view. The only tangible project left of the four which TPJ was previously engaged in, is the JV with Newcrest in Manus Island. As far as I interpret the statements in Newcrest's presentations and on its website, Newcrest is still actively engaged in the exploration of this project. Nevertheless, there could be an announcement any day saying that Newcrest does not wish to pursue Manus Island any longer because the test drilling has not resulted in any economic prospects. I guess a 50/50 scenario.
All other activities, whether they involve the identification of new opportunities or mergers with other mining juniors are just upside to which I would ascribe any value (other than hope value).
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