Turkey- focused explorer Ariana Resources (LON:AAU) has established a new subsidiary to focus on non-gold opportunities, it said in final results.
In a changing landscape for mining exploration, using technology to find discoveries not previously possible is an increasing focus, said Ariana, which is still awaiting permitting sign-off for constructing its Kiziltepe mine at the Red Rabbit gold property.
"In Turkey in particular, the primary focus of this new entity will be technology-commodity opportunities. There is a longer term view to identify other such projects globally," the firm told investors.
Last year saw the firm make some difficult decisions, it said, including reducing exploration spend.
However, on a positive, the firm now recognises several opportunities to enhance its resource base in the immediate vicinity of the planned Kiziltepe mine.
General exploration expenditure fell in 2014 to £76,000 from £121,000 a year earlier and the loss before tax for 2014 was narrowed to £895,000 compared to a loss of £1.45mln in 2013.
It had £44,000 at the end of the year compared to £212,000 at the same time in 2013.
Ariana shares are unchanged at 0.85p.