Latest Views & News

Ariana – General Meeting #2 called as Special Dividend comes into view: A Resounding BUY

By Nigel Somerville, the Deputy Sheriff of AIM | Monday 8 February 2021


Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


AIM-listed gold producer in Turkey, Ariana Resources (AAU) has taken another important step towards payment of the long-awaited special dividend in relation to the ongoing corporate action which brings Turkish outfit Ozaltin into its gold-producing joint venture with Proccea. Ariana is reducing its ownership in the JV to 23.5% from 50% and injecting its Salinbas project in return for a total of $37.75 million, with a promised special dividend for shareholders, but has an issue with distributable reserves which is to be addressed by a second General Meeting and a trip to the High Court. This morning, the Circular for General Meeting 2 was published.

Premium content is for paid subscribers only
ShareProphets is reader-supported journalism

Become a member starting at £5.99 per month for all articles, the Bearcast, and our seven year archive.


Filed under:



Subscribe to our newsletter

Daily digest of our latest stories.



Search ShareProphets

Market News

Complete Coverage

Recent Comments

That Was the Week that Was

|