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Much lowing hanging fruit for cash flow positive Ariana Resources

Last updated: 15:33 15 Feb 2019 GMT, First published: 10:33 15 Feb 2019 GMT

Kerim Sener, managing director of Ariana Resources PLC (LON:AAU) says for the first time in many years the company is cash flow positive and the business is "entering a very exciting period."   He puts the financial stability down to successful operations at Kiziltepe.

Additional funding has come in the form of a capital repatriation from Ariana's Turkish subsidiary Galata with the recent tranche of £3.79mln being deployed across all projects in the group.

Sener highlighted advanced opportunities at Kizilcukur and Salinbas adding "We're in the fortunate position of several low hanging fruit."

Ariana Resources drilling across all key projects

Ariana Resources PLC (AIM:AAU) managing director Kerim Sener gives Proactive an update on its Asgard Metals Fund. He says the companies have successfully raised additional funds both privately and through the capital markets, totalling circa A$5,500,000, which he says has been a real...

on 20/11/23