Ariana Resources (LON:AAU) expects construction to start shortly on its new gold mine at Kiziltepe in western Turkey after payment of the forestry permit fees of US$0.96mln.
Kerim Sener, managing director, said: “We are now close to the mobilisation of construction crews to site.
“Project funding through Turkiye Finans has now been initiated and significant early expenditure, notably for the forestry permits, has now been completed.
Land for access to the site has largely been acquired, he said, and the project development timeline remains for first gold pour in the second half of 2016.
A small development, Kiziltepe is set to produce 21,000 ounces of gold each year.