During the weekend I had a brief chat with Jim Williams of Arian, Whilst I can’t comment on Jim’s historical stewardship of the company, what I can say is Jim was very open to discussing past successes and failing’s from his time running the business. Arian Silver over the course of a decade have operated and produced within the mining sector, granted this journey (by Jim’s admission) has endured it’s ups & downs, yet the company worked through the most recent turbulence leaving a debt free vehicle motivated in driving the company forward.
Williams is no stranger to success as Arian Silver topped the historical high’s at approx 60p leaving a market capitalization substantially higher than that of today (£185m old money). During this time the company were well stacked & backed for further success. This wasn’t to be as the market decline (particularly the fall in silver) completely excluded the assets viability, Jim talks about the process of supporting the financial backers in exiting the partnership before refinancing the company post £800,000 approx cash call announced last week.
In life we are judged on our most recent success, whilst I’m happy to give Jim the platform to discuss his renewed vision of making shareholders money (which to his credit he has done before) I believe that one should observe the next steps before making a definitive decision on the companies potential, although as the companies value is near to cash then the next few announcements should give a better buy,sell or hold metric to go off.
(For the avoidance of doubt the author of this article holds stock in the company)