Ariana Resources plc (LON:AAU) has told investors it expects the tailings storage facility (TSF) at its Kiziltepe mine in Turkey to be completed within the next ten days.
Extremely cold temperatures – as low as -7ºC – and heavy snow over the past month or so have delayed the final laying of a geomembrane at Kiziltepe’s tailings storage facility (TSF).
And while this is a simple, seven-to-ten day job, completion of the TSF is a critical element of the project.
“While much of the Kiziltepe mine site is effectively operational, the below average temperature conditions and rainfall experienced through much of January has inhibited the completion of the tailings dam,” said managing director Kerim Sener.
“However, we are pleased to note that the weather forecasts for the next ten days are looking more favourable. At this stage, the Joint Venture team is expecting to be in a position to complete the remaining work at the tailings dam within this better weather window.”
During this frustrating period, Ariana has been working hard to demonstrate the potential for an enhanced operation at Kiziltepe.
Recent drill results are to be incorporated into a new resource and reserve estimate, while an improved mining plan and schedule are also in the works.
“These results are sufficiently encouraging to warrant integration in to a longer-term developmental plan for the project involving larger and/or additional open pits,” added Sener.
“The company remains focused on increasing its production profile once Kiziltepe enters production, through several practical development strategies across its projects.”
Kiziltepe sits within the Red Rabbit gold-silver project in Western Turkey and is part of a joint venture between Ariana and Proccea Construction Co.
Shares were down 2% to 1.66p.