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Ariana Resources revenues close to record as production hums at Kiziltepe

"We remain fully on track to deliver against our guidance of 25,000 ounces of gold for the year"

Ariana Resources PLC -
Operations ran well at Kiziltepe in the past three months

Ariana Resources PLC (LON:AAU) has enjoyed one its strongest quarters ever for revenues generated.

Production from the Kiziltepe mine in Turkey was just shy of 7,000oz and combined with a very strong gold price boosted sales, said managing director Karim Sener.

WATCH: Ariana Resources' Kerim Sener talks 'continued positive performance' at Kiziltepe

Kiziltepe is part of the 50/50 Red Rabbit joint venture with Turkish firm Proccea Construction.

Gold production was 6,933oz (6,438oz) or 11% above guidance for the quarter, while the amount of ore milled hit a record of just over 55,000 tonnes.

The average head grade into the plant was 4.47 g/t gold, while recoveries were just shy of 94%.

Sener added: "This third quarter continued to demonstrate the positive performance of the Kiziltepe mine and plant, including record mill throughput at over 55,000 tonnes.   

"We remain fully on track to deliver against our guidance of 25,000 ounces of gold for the year, derived from the remaining production expected at the Arzu South pit. 

“Meanwhile, mining activity has commenced at the Derya pit and we look forward to seeing the development of this part of our operation." 

Quick facts: Ariana Resources PLC

Price: 6.05 GBX

Market: AIM
Market Cap: £64.29 m

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