www.arianaresources.com
Ariana is an AIM-listed and PLUS-traded gold exploration and development company which aims to develop new gold mines in Turkey. Ariana is lead by an experienced board and is spearheaded by a focused Turkish management team. Current resources stand at approximately 400,000 ounces of gold in western Turkey, with two key projects under development: the high-grade Kiziltepe prospect and the heap-leachable Tavsan prospect. An exploration joint venture with European Goldfields (20% shareholders in Ariana) in northeastern Turkey is focused on the Ardala copper-gold porphyry and surrounding areas. Ariana holds a large and prospective licence portfolio from which a pipeline of new exploration targets is being generated for drill-testing utilizing an ‘in-house’ drilling team. Exploration and development success is being delivered via a strategy which integrates geoscientific knowledge and new technologies to identify and advance prospects for drill-testing. Ariana aims to develop a portfolio of licences in western Turkey which contain an aggregate of one million ounces of gold; a target which it is already on the way to achieving.
Ariana Resources: Shareholder increases stake in firm
Turkey-focused explorer Ariana Resources (LON:AAU) announced that T1ps Investment Management (IOM) has increased its holding in the firm.
T1ps Investment Management (IOM) Ltd has taken control of Athol Gold & Value Ltd and there was an exercise of warrants on December 2.
Its total holding in Ariana has increased to around 39.46 million shares - or 15.2 per cent of the voting rights, Ariana said in a statement this morning.
Athol Gold and Value Ltd (LON:AHG) is an AIM-quoted investment holding company.
The shares are now held in the SFT1ps smaller companies gold fund, with 12.83 per cent, the SFT1ps smaller companies growth fund. with 0.2 per cent and Athol Gold & Value Limited. with 2.17 per cent, funds under the discretionary management of T1ps Investment Management (IOM) Limited, on behalf of BNY Nominees Limited, Rivington Street Stockbrokers Limited.
As at October 12 this year, Rivington Street Stockbrokers held 3.43 per cent of the firm's capital.
On Wednesday this week, the firm said it will exercise 210,525 warrants, which were granted as part of a placing which raised £1.16 million earlier this year.
The funds were for exploration and development projects and possible acquisitions.
It received requests to exercise 210,525 warrants, granted as a one-for-one with the placing shares announced on February 18 this year - exercisable at 4.75 pence each within twelve months.
And on Monday this week (December 5) it told investors it had received requests to exercise 1,052,630 warrants as part of the same placing.
In February this year, Ariana said that it had placed 24.5 million shares at a price of 4.75 pence - nearly equal to the then share price of 5 pence - and said it was pleased with the support received for the placing.
Ariana’s priority project is the Red Rabbit joint venture in Turkey. It is the centre-piece of Ariana’s growth strategy and brings together the firm’s Kiziltepe prospect with Proccea’s Tavsan gold area.
The firm currently has a JORC compliant resource of 448,000 ounces across the wider Red Rabbit project area and plans to lift that to around 1 million ounces.
