Ariana Resources plc (LON:AAU), the exploration and development company operating in Turkey, has said it continues to expect its gold production figures for the full year “to be in line with expectations”.
In a statement to be delivered to today’s annual general meeting, Michael de Villiers, chairman of the AIM-listed firm also said: "The Group's performance in 2018 to date has been extremely encouraging, underscored by strong operational results from the Kiziltepe Mine and positive resource oriented developments at Salinbas and within the Red Rabbit Project area.”
The chairman added: “2017 opened up a new chapter for Ariana Resources, as we became one of only a handful of junior explorers on AIM to have transitioned successfully to producer status.”
"Having entered commercial production of gold and silver, we are now looking toward the next phase of our business strategy, which is to further develop the three strands of our current portfolio: bringing on stream additional resources identified at the Kiziltepe Sector, planning and permitting of the Tavşan Sector of the Red Rabbit project, and continuing the exploration and development of our wholly-owned Salinbaş Project.”
He continued: "It has been our long-held view that Salinbaş, located within the 'Hot Gold Corridor', contains resources well in excess of the 1Moz we have already identified.
“The potential of Salinbaş has not gone unnoticed and, given the potential significance of this resource, we believe it is important that we better define the resource potential and be discerning in terms of any future partnerships or agreements we might conclude.”