Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Ariana books healthy full year profit, as gold production from Kiziltepe drives revenue

Ariana's Kiziltepe mine in Turkey is now beginning to generate significant profits
Ariana books healthy full year profit, as gold production from Kiziltepe drives revenue
Profits from gold production are now beginning to mount up

Ariana Resources plc (LON:AAU) booked a post-tax profit of £424,000 for the year to 31 December 2017, as the company’s Red Rabbit or Kiziltepe gold project came into production.

The overall share of the profits due to Ariana from the joint venture that owns Kiziltepe amounted to a handsome £1.83mln, as the mine begins to hit its stride.

READ: Ariana Resources to be self-financing this year

The company also had nearly £800,000 in the bank at year-end.

The past year has opened a new chapter for Ariana Resources, having become one of only a handful of junior explorers on AIM to have transitioned successfully to producer status,” said chairman Michael de Villiers.  

View full AAU profile View Profile

Ariana Resources plc Timeline

Related Articles

Gold and dollars
June 19 2018
Broadly speaking, the new consortium is coming in on the same terms as the Ethiopian government
1520338767_shutterstock_130308137.jpg
March 06 2018
Viscount Mining is sitting on two highly prospective gold projects in the USA
Copper in periodic table
May 02 2018
Bezant has a huge copper resource under licence in the Philippines

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use