Ariana revises deal with KEFI, acquires first ever royalty
Ariana has built up a track record of successful operations in Turkey
Company
LON:AAU
Ariana Resources is a mineral exploration and development company with an exceptional track-record of creating value for its shareholders through its interests in active mining projects and investments in exploration companies. The company's focus is a +1Moz gold development project in Zimbabwe and has interests in gold production in Türkiye and copper-gold silver and zinc exploration and development projects in Cyprus and Kosovo.
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Ariana has built up a track record of successful operations in Turkey
“We are well-positioned right at the heart of a major copper-gold province, which already shows potential for >10Moz" said Kerim Sener, Ariana’s managing director
Ariana Resources is well-established as a producer in Turkey
The second quarter, of course, was when the coronavirus pandemic began to take hold but even so, half-year output was still within the guidance range
"This transaction will crystallise significant value for the Company and substantially de-risks the deliverability of the Salinbas Project, at an important time in its development"
Ariana has built up a track record of successful operations in Turkey
The firm said the resource has increased to 4.49mln tonnes for 253,000 ounces of gold and 723,000 ounces of silver
The miner also said it remained on track to deliver on its 2020 production target of 18,000 ounces of gold
The company will earn-in up to 50% of Venus, which focuses on copper-gold projects on the island of Cyprus
Ariana has built a track record of successful gold production in Turkey
“This serves to demonstrate the strong operating credentials of the JV and the profitability of the Kiziltepe Mine,” the group's MD Kerim Sener said
There was plenty of action in the small-cap mining scene over the past week
The updated estimate has increased the resource at the site by 25% to around 321,000 ounces of gold and 5mln ounces of silver
“Production from our highest-grade pit, Arzu South, is due to be completed during Q3 2020 and production thereafter will be focused on Arzu North and Derya"
Ariana has built up a track record of gold production in Turkey
Ariana has built up a track record of successful operations in Turkey
The miner said gold production for the year will be around 18,000 ounces of gold with an average grade expected of 2.5 grams per tonne
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SP Angel . Morning View . Friday 21 02 20 Gold jumps higher on coronavirus risk off trade MiFID II exempt information – see disclaimer below Ariana Resources (LON:AAU) – Production exceeds 2019 guidance
Gross income for the year was US$45.1mln, with the fourth-quarter turning out to be a record one, with income of US$12.78mln at an average realised gold price of US$1,484 an ounce.
Ariana and its proposed partner, Proccea Construction, are also preparing legal documentation for a joint venture at the site