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Ariana Resources acquires Kizilcukur royalty and database in Turkey

“We intend to make use of Dogu as an entity through which we can develop new project opportunities for the company.

Ariana Resources PLC -
Dogu, a subsidiary of Kefi Minerals, owns the 2% NSR and will be bought outright by Ariana for £90,000.

Ariana Resources PLC (LON:AAU) has tidied up the structure of its Kizilcukur project in Turkey by buying the holder of a net smelter royalty over the project.

Dogu, a subsidiary of Kefi Minerals, owns the 2% NSR and will be bought outright by Ariana for £90,000.

An exploration database on Turkey that has been built up by Kefi since 2007 and owned by Dogu is also part of the deal.

Kerim Sener, Ariana’s managing director, said acquiring Dogu limits any future extraneous financial impact at Kizilcukur while also bringing exclusive rights to a significant exploration database covering Turkey. 

“Furthermore, we intend to make use of Dogu as an entity through which we can develop new project opportunities for the company, enabling us to keep them distinct from our operational entity in Turkey, Galata Madencilik, and our other project interests in the country."

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Price: 2 GBX

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