leadf
logo-loader
viewAriana Resources PLC

Ariana Resources posts strong third quarter financials

Ariana has a long track record of operating successfully in Turkey

Ariana Resources PLC -

Ariana Resources PLC (LON:AAU) generated revenues of US$11.4mln from the Kiziltepe gold mine in Turkey during the third quarter of 2020.

 The average realised gold price was US$1,915 per ounce, up significantly on the quarter, as well as on the corresponding period a year ago.

By contrast, operating cash cost for the period was just US$352 per ounce, down from the US$492 booked in the previous quarter, due in part to a decline in the foreign exchange rate, and also flattered by the sale of silver stock.

Third quarter production, which was reported last month, was just over 5,000 ounces.

Broker Shore Capital is optimistic about a beat to production guidance for the full year.

Quick facts: Ariana Resources PLC

Price: 4.288 GBX

AIM:AAU
Market: AIM
Market Cap: £45.87 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

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

Ariana Resources 'to embark on new chapter in its history' after closing...

Proactive mining analyst Alastair Ford takes a closer look at Ariana Resources PLC (LON:AAU) this week, which is 'about to embark on a new chapter in its history, after closing off what has been described as a transformational deal'. The company recently completed its joint venture deal in...

1 week, 3 days ago

2 min read