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AAU Ariana Resources Plc

2.05
-0.05 (-2.38%)
18 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Ariana Resources Plc LSE:AAU London Ordinary Share GB00B085SD50 ORD 0.1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.05 -2.38% 2.05 1.90 2.20 2.10 2.05 2.10 821,609 14:00:26
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Gold Ores 0 4.03M 0.0035 5.86 23.5M

Ariana Resources PLC Ariana Resources Plc : Kiziltepe Mine: Interim Tsf Completion

14/02/2017 7:00am

UK Regulatory


 
TIDMAAU 
 
   14 February 2017 
 
   AIM: AAU 
 
   KIZILTEPE MINE: INTERIM TSF COMPLETION 
 
   Ariana Resources plc ("Ariana" or "the Company"), the exploration and 
development company operating in Turkey, is pleased to announce the 
completion of the interim Stage One Tailings Storage Facility ("TSF") at 
the Kiziltepe Mine ("Kiziltepe" or "the Project").  Kiziltepe is part of 
the Red Rabbit Joint Venture with Proccea Construction Co. and is 50% 
owned by Ariana. 
 
   Highlights: 
 
 
   -- Interim Stage One TSF completed ahead of final statutory inspections and 
      technical approvals. 
 
   -- Completion of the TSF was a pre-requisite ahead of an application for a 
      routine Operations Permit, the preparatory procedure for which is now 
      underway. 
 
   -- Mine site and processing plant are now fully operational and formal 
      production is expected to commence in the coming weeks. 
 
 
 
 
   Dr. Kerim Sener, Managing Director, commented: 
 
   "This is an excellent result from the construction teams at the 
Kiziltepe site.  As expected, a suitable weather window opened during 
the beginning of February, enabling the installation of the remaining 
geomembrane for the interim Stage One TSF.  With the TSF now ready for 
initial start-up, construction of the mine is effectively 100% complete 
for production to commence.  Production will formally commence once we 
have received our Operations Permit, for which an application to the 
authorities is in the process of being prepared, and while we await 
technical approvals for the TSF installation. 
 
   The Kiziltepe Mine is being prepared for formal production to commence 
in the coming weeks and the Company will provide further updates on its 
progress." 
 
   This announcement contains inside information for the purposes of 
Article 7 of EU Regulation 596/2014. 
 
   Contacts: 
 
 
 
 
Ariana Resources plc             Tel: +44 (0) 20 7407 3616 
Michael de Villiers, Chairman 
Kerim Sener, Managing Director 
 
Beaumont Cornish Limited         Tel: +44 (0) 20 7628 3396 
Roland Cornish / Felicity Geidt 
 
Beaufort Securities Limited      Tel: +44 (0) 20 7382 8300 
Jon Belliss 
 
Panmure Gordon (UK) Limited      Tel: +44 (0) 20 7886 2500 
Adam James / Tom Salvesen 
 
 
 
   Editors' Note 
 
   About Ariana Resources: 
 
   Ariana is an exploration and development company focused on epithermal 
gold-silver and porphyry copper-gold deposits in Turkey.  The Company is 
developing a portfolio of prospective licences originally selected on 
the basis of its in-house geological and remote-sensing database. 
 
   The Company's flagship assets are its Kiziltepe and Tavsan gold projects 
which form the Red Rabbit Gold Project.  Both contain a series of 
prospects, within two prolific mineralised districts in the Western 
Anatolian Volcanic and Extensional (WAVE) Province in western Turkey. 
This Province hosts the largest operating gold mines in Turkey and 
remains highly prospective for new porphyry and epithermal deposits. 
These core projects, which are separated by a distance of 75km, form 
part of a 50:50 Joint Venture with Proccea Construction Co.  The 
Kiziltepe Sector of the Red Rabbit Project is fully-permitted and is 
currently in construction.  The total resource inventory at the Red 
Rabbit Project and wider project area stands at c. 525,000 ounces of 
gold equivalent.  At Kiziltepe a Net Smelter Return ("NSR") royalty of 
up to 2.5% on future production is payable to Franco-Nevada Corporation. 
At Tavsan an NSR royalty of up to 2% on future production is payable to 
Sandstorm Gold. 
 
   In north-eastern Turkey, Ariana owns 100% of the Salinbas Gold Project, 
comprising the Salinbas gold-silver deposit and the Ardala 
copper-gold-molybdenum porphyry among other prospects.  The total 
resource inventory of the Salinbas project area is c. 1 million ounces 
of gold equivalent.  A NSR royalty of up to 2% on future production is 
payable to Eldorado Gold Corporation. 
 
   Beaufort Securities Limited and Panmure Gordon (UK) Limited are joint 
brokers to the Company and Beaumont Cornish Limited is the Company's 
Nominated Adviser. 
 
   For further information on Ariana you are invited to visit the Company's 
website at www.arianaresources.com. 
 
   Ends 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Ariana Resources plc via Globenewswire 
 
 
  http://www.arianaresources.com/s/Home.asp 
 

(END) Dow Jones Newswires

February 14, 2017 02:00 ET (07:00 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.

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