() is set to receive £3.79mln from its Turkish subsidiary Galata, following the repayment of loans made to the jointly owned operator of its Turkish gold mine, Zenit.
The capital reduction has been undertaken because the flow of funds from Zenit, derived from revenue from the Kiziltepe gold mine, will exceed the working capital requirements of Galata in the future, enabling the direct return of funds to Ariana.
These funds will be used by Ariana for exploration and development of the project portfolio, including on the Salinbas project, and for general working capital.
NO INVESTMENT ADVICE
The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...
In exchange for publishing services rendered by the Company on behalf of Ariana Resources PLC named herein, including the promotion by the Company of Ariana Resources PLC in any Content on the Site, the Company...
FOR OUR FULL DISCLAIMER CLICK HERE