Shares in Ariana Resources PLC (AIM:AAU) rose 9% in morning trading on Thursday after the company began cold-commissioning at the Tavsan gold mine in western Türkiye, paving the way for first production next month.
The AIM-listed explorer said commissioning of the plant began following its connection to grid power, with gold output expected to start in July.
Tavsan is being developed by Zenit Madencilik, a partnership in which Ariana holds a 23.5% stake alongside Ozaltin Holding and Proccea Construction.
Managing director Kerim Sener said the progress was “exceptional” and confirmed that roughly one year’s worth of ore, grading between 0.7 and 1.2 grams per tonne, is already stockpiled and ready to load. Heap-leach pad construction is due to finish later this month.
The project marks Ariana’s first heap-leach operation in Türkiye and will run in parallel with its existing Kiziltepe mine. A new 2,555kW solar power installation has also been approved, aiming to cut operating costs and reduce grid reliance.
Drilling is continuing to extend Tavsan’s mine life, with 3,700 metres completed as part of a 15,000-metre programme.
The shares were up 0.08p at 1.16p and have advanced 15.5% over the trading week.