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Ariana books healthy full year profit, as gold production from Kiziltepe drives revenue

Ariana's Kiziltepe mine in Turkey is now beginning to generate significant profits
Ariana books healthy full year profit, as gold production from Kiziltepe drives revenue
Profits from gold production are now beginning to mount up

Ariana Resources plc (LON:AAU) booked a post-tax profit of £424,000 for the year to 31 December 2017, as the company’s Red Rabbit or Kiziltepe gold project came into production.

The overall share of the profits due to Ariana from the joint venture that owns Kiziltepe amounted to a handsome £1.83mln, as the mine begins to hit its stride.

READ: Ariana Resources to be self-financing this year

The company also had nearly £800,000 in the bank at year-end.

The past year has opened a new chapter for Ariana Resources, having become one of only a handful of junior explorers on AIM to have transitioned successfully to producer status,” said chairman Michael de Villiers.  

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