Exclusive KE Report Commentary – Fri 24 Mar, 2017

A look at the Mariana drill results from the Hot Maden Property

Glen Parsons, CEO of Mariana Resources joins me to discuss yesterday’s news on the drilling at the Hot Maden property. The infill and extension drilling is outlined as well as the 3rd rig that has just arrived on site. We also look at the Company’s cash position through next year.

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Click here to read the full Mariana news releases.

Glen ParsonsCory Fleck

  1. On March 24, 2017 at 8:25 am,
    Chris says:

    My broker also likes Mariana. So why is it I don’t have good feelings about Turkey? Maybe it’s a wonderful place to do business & I just don’t get it?

    • On March 24, 2017 at 9:24 am,
      Cory says:

      Hey Chris. I completely understand, there are many reasons to not like Turkey because of recent news. I do have to say that throughout my conversations with the guys at Mariana and the analysts that follow the Company I have been assured that there is not much to worry about. Mariana’s partner Lidya is a major mining company in Turkey and that should provide some reassurance that the government will not do anything crazy with the Hot Maden project.

  2. On March 24, 2017 at 11:02 am,
    FundamentalAnalysis says:

    Good project

    Market cap (adjusted for warrants) + generous risk premium (Turkey, minority interest etc…) + capex < PEA npv.

    To me that is a great formula for value….and we've excluded all other exploration upside both at Hot Maden and potentially elsewhere.

    Off course it could go lower, but we are off a fair bit since the PEA came out…….ok as a speculation IMHO.

    I'm not concerned about the project moving forward, my biggest issue is Lidya stealing the 30% for cheap, or holding back payments to Mariana…….but the market really has given those risks a big enough discount. How much discount does the market want…………..

    The whole warrant issue is a small sideshow, cash will be coming in at 30p(0.52CAD), 15-20% share issuance if all warrants/options exercised (but market value of company increases by the cash coming in). So its less dilutive then it appears.

    UK Tax year end selling… 5th April 2017, a lot of people with a lot of gains to crystallise.