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MARL Mariana Res

99.00
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Mariana Res LSE:MARL London Ordinary Share GG00BD3GC324 ORD 0.1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 99.00 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Mariana Resources Ltd Mariana Resources Ltd : Issue Of Equity Warrant Exercise

27/04/2017 9:48am

UK Regulatory


 
TIDMMARL 
 
 
 
 
AIM: MARL 
 TSX-V: MARL      Granite House, La Grande Rue, 
 27 April 2017    St. Martin, Guernsey, GY1 3RS 
                                Channel Islands 
 
 
   Issue of Equity- Warrant Exercise 
 
   Mariana Resources Ltd ("Mariana" or the "Company"), the AIM ("MARL") and 
TSXV ("MARL") listed exploration and development company with projects 
in Turkey, Côte d'Ivoire and South America, announces that the 
following warrants have been exercised into ordinary shares with funds 
received. 
 
 
   -- 1,454,250 Warrants exercised at GBP0.30 
 
   -- 151,699 Warrants exercised at GBP0.25 
 
 
   The Company will issue and allot 1,605,949 new ordinary shares. 
 
   Admission to AIM 
 
   Application has been made to the London Stock Exchange for the new 
ordinary shares to be admitted to trading on AIM and the TSXV.  Dealings 
are expected to commence on or about 4 May 2017 ("Admission"). 
 
   Following Admission, there will be a total of 130,005,779 ordinary 
shares on issue. 
 
   Included in the above exercise are exercising by Director's and as a 
result directors interests are detailed below: 
 
 
 
 
Directors and Officer 
 Interests 
                                       John       Glen      John               Mustafa           Sharon 
                           Total     Horsburgh   Parsons   Goodwin  Eric Roth   Aksoy   Ron Ho   Cooper 
Ordinary 
 Shares 
 held                     2,469,421    893,050    437,250   93,000    649,371        -  327,000   69,750 
 
                          2.469,421    893,050    437,250   93,000    649,371        -  327,000   69,750 
Current Issued Share 
 Capital                130,005,775 
% Interest 
 on Issued 
 Share 
 Capital                      1.90%      0.69%      0.34%    0.07%      0.50%        -    0.25%    0.05% 
 
                                          John       Glen                      Mustafa            Sharon 
                              Total  Horsburgh    Parsons   25,000  Eric Roth    Aksoy   Ron Ho   Cooper 
Mariana Share Bonus 
 Award                      900,000          -    495,000        -    405,000        -        -        - 
 
Warrants 
              Exercise 
              Price in                    John       Glen     John             Mustafa            Sharon 
  Expiry           GBP        Total  Horsburgh    Parsons  Goodwin  Eric Roth    Aksoy   Ron Ho   Cooper 
  6/05/2018       0.25      163,500          -          -        -          -        -  163,500        - 
 
Options 
              Exercise 
              Price in                    John       Glen     John             Mustafa            Sharon 
  Expiry           GBP        Total  Horsburgh    Parsons  Goodwin  Eric Roth    Aksoy   Ron Ho   Cooper 
 31/07/2017      0.200       95,000     30,000     40,000        -          -        -        -   25,000 
 31/03/2018      0.600      160,000     30,000     40,000        -     30,000        -        -   60,000 
 31/03/2018      0.800      140,000     40,000     60,000        -     40,000        -        -        - 
 31/03/2018      1.200      180,000     50,000     80,000        -     50,000        -        -        - 
  1/03/2019      0.300      730,000    220,000    300,000   50,000          -        -        -  160,000 
  1/03/2019      0.500      325,000     80,000    120,000   25,000    100,000        -        -        - 
  1/03/2019      0.700      325,000     80,000    120,000   25,000    100,000        -        -        - 
 10/06/2019      0.425      680,000     90,000    250,000   90,000          -   25,000   25,000  200,000 
 10/06/2019      0.450      400,000     50,000    150,000   50,000    150,000        -        -        - 
 10/06/2019      0.475      270,000     35,000    100,000   35,000    100,000        -        -        - 
  2/02/2022      1.000    2,400,000          -  1,320,000        -  1,080,000        -        -        - 
                          5,705,000    705,000  2,580,000  275,000  1,650,000   25,000   25,000  445,000 
                 Fully 
               Diluted 
             Shares in 
                 Issue  152,091,026 
                 Total 
                 Fully 
               diluted 
              interest    9,237,921  1,598,050  3,512,250  368,000  2,704,371   25,000  515,500  514,750 
               % Total 
                 Fully 
               diluted 
              interest        6.07%      1.05%      2.31%    0.24%      1.78%    0.02%    0.34%    0.34% 
 
 
 
 
   Mariana Resources Limited 
 
   "Glen Parsons" 
 
   Glen Parsons, CEO 
 
   **S** 
 
 
 
 
 
Glen Parsons (CEO)   Mariana Resources Ltd               +61 2 9437 4588 
Eric Roth (COO)      Mariana Resources Ltd               +56 9 8818 1243 
Karen Davies (IR)    Mariana Resources Ltd (Canada)      +1 604 314 6270 
Rob Adamson          RFC Ambrian Limited (Nomad)         +61 2 9250 0041 
Will Souter          RFC Ambrian Limited (Nomad)         +61 2 9250 0050 
In U.K. 
Oliver Stansfield    Brandon Hill Capital (UK Broker)   +44 20 3463 5061 
Jonathan Evans       Brandon Hill Capital (UK Broker)   +44 20 3463 5016 
Camilla Horsfall     Blytheweigh (Financial PR)         +44 20 7138 3224 
Megan Ray            Blytheweigh (Financial PR)         +44 20 7138 3203 
 
 
   Neither the TSX Venture Exchange nor its Regulation Services Provider 
(as that term is defined in the policies of the TSX Venture Exchange) 
accepts responsibility for the adequacy or accuracy of this release. 
 
   About Mariana Resources 
 
   Mariana Resources Ltd is a TSX.V and AIM (MARL) quoted exploration and 
development company with an extensive portfolio of gold, silver, and 
copper projects in South America, Turkey, and Ivory Coast. 
 
   Mariana's most advanced asset is the Hot Maden gold-copper project in 
northeast Turkey, which is a joint venture with Turkish partner Lidya 
Madencilik (30% Mariana and 70% Lidya) and which is rapidly advancing to 
development.  On January 17, 2017, Mariana released the results of a 
Preliminary Economic Study ("PEA") which demonstrated exceptional 
potential economics for the Hot Maden Project (after-tax NPV and IRR of 
USD 1.37B and 153%, respectively) based on a development scenario 
incorporating a 1Mtpa underground mining / processing operation and the 
production of two saleable concentrates (a copper-gold concentrate and a 
gold-pyrite concentrate). This PEA was based on the updated (July 25, 
2016) mineral resource estimate of 3.43 Moz gold equivalent (Indicated 
Category) and 0.09 Moz gold equivalent (Inferred Category) (100% basis) 
in the Main Zone, as well as a maiden 351,000 Moz gold equivalent 
(Inferred Category) (100% basis) resource in the New Southern Discovery. 
Elsewhere in Turkey, Mariana holds a 100% interest in the Ergama 
gold-copper project. 
 
   On October 7, 2016, Mariana announced the signing of a binding Term 
Sheet to acquire an indirect 80% interest in Ivory Coast-focused private 
exploration company Awalé Resources SARL ("Awalé").  Through 
the transaction Mariana will gain an immediate foothold in an 
established exploration portfolio with known gold mineralisation and 
artisanal gold workings, and which comprises i) 3 granted contiguous 
licenses (1,191 km(2) ) in the Bondoukou area, and ii) 4 licenses under 
application (1,593 km(2) ) in both the Bondoukou and Abengourou areas. 
The Boundoukou concessions lie along the southwestern extension of the 
Birimian Bole-Nangodi greenstone belt in adjacent Ghana, host to a 
number of high grade orogenic gold deposits. 
 
   In southern Argentina, the Company's core gold-silver projects are Las 
Calandrias (100%), Sierra Blanca (100%), Los Cisnes (100%), and Bozal 
(100%). These projects are part of a 100,000+ Ha land package in the 
Deseado Massif epithermal gold-silver district in mining-friendly Santa 
Cruz Province. 
 
   In Suriname, Mariana has a direct holding of 10.2% of the Nassau Gold 
project. The Nassau Gold Project is a 28,000 Ha exploration concession 
located approximately 125 km south east of the capital Paramaribo and 
immediately adjacent to Newmont Mining's 4.2Moz gold Merian project. 
 
   In Peru and Chile, Mariana is focusing on acquiring new opportunities 
which complement its current portfolio. 
 
 
 
 
            Hot Maden Mineral Resource Estimate - Main Gold-Copper 
                           Zone (2 g/t AuEq Cut-off) 
                                Indicated Mineral Resource 
   Domain      Tonnes     Au   Cu    Zn   AuEq     Au        Cu       AuEq 
                  t      g/t    %    %    g/t*   Ounces    Tonnes   Ounces** 
Main Zone LG   463,000    1.1  1.1   0.3   2.4     17,000    5,000     36,000 
Main Zone HG  4,501,000   3.9  1.9   0.2   6.3    570,000   87,000    908,000 
 Main Zone 
     UHG      2,086,000  32.7  3.5   0.1  36.9  2,195,000   73,000  2,476,000 
   Mixed 
  Gold-Zinc    17,000     7.5  3.1   3.6  11.2      4,000    1,000      6,000 
 Peripheral 
    Lodes      60,000     2.1  0.4   0.4   2.5      4,000               5,000 
   Total      7,127,000  12.2  2.3   0.2  15.0  2,790,000  166,000  3,431,000 
                                 Inferred Mineral Resource 
   Domain      Tonnes      Au   Cu    Zn  AuEq         Au       Cu       AuEq 
                  t       g/t    %%       g/t*     Ounces   Tonnes   Ounces** 
Main Zone LG   395,000    1.7  0.9  0.03   2.8     21,000    4,000     35,000 
Main Zone HG   31,000     3.9  1.6   0.1   5.8      4,000               6,000 
 Main Zone 
     UHG        6,000    39.1  2.1  0.01  41.6      7,000               8,000 
   Mixed 
  Gold-Zinc     4,000     1.7  0.4   2.4   2.2 
 Peripheral 
    Lodes      282,000    3.2  0.9   0.1   4.3     29,000    2,000     38,000 
   Total       718,000    2.7  0.9   0.1   3.8     62,000    7,000     88,000 
 
               Hot Maden - Southern Gold-Copper Zone (2 g/t AuEq 
                                    Cut-off) 
                                 Inferred Mineral Resource 
   Domain      Tonnes      Au   Cu    Zn  AuEq         Au       Cu       AuEq 
                  t       g/t    %%       g/t*     Ounces   Tonnes   Ounces** 
 South Zone 
     LG        396,000    2.8  0.7   0.0   3.6     35,000    3,000     46,000 
 South Zone 
     HG        583,000    5.3  0.7   0.0   6.1     98,000    4,000    114,000 
 Main Zone 
     UHG       224,000   22.2  1.0   0.0  23.4    160,000    2,000    169,000 
   Mixed 
  Gold-Zinc    44,000     9.0  1.0   3.2  10.2     13,000              15,000 
 Peripheral 
    Lodes      104,000    1.9  0.3   0.0   2.2      6,000               7,000 
   Total      1,352,000   7.2  0.7   0.1   8.1    313,000   10,000    351,000 
 
 
   *Au Equivalence (AuEq) calculated using a 100 day moving average of 
$US1,215/ounce for Au and $US2.13/pound for Cu as of May 29, 2016. No 
adjustment has been made for metallurgical recovery or net smelter 
return as these remain uncertain at this time. Based on grades and 
contained metal for Au and Cu, it is assumed that both commodities have 
reasonable potential to be economically extractable. 
 
 
   1. *-The formula used for Au equivalent grade is: AuEq g/t = Au + [(Cu % x 
      22.0462 x 2.13)/(1215/31.1035)] and assumes 100 % metallurgical recovery. 
 
   2. **-Au equivalent ounces are calculated by mulitplying Mineral Resource 
      tonnage by Au equivalent grade and converting for ounces. The formula 
      used for Au equivalent ounces is: AuEq Oz = [Tonnage x AuEq grade 
      (g/t)]/31.1035 
 
   Safe Harbour 
 
   This press release contains certain statements which may be deemed to be 
forward-looking statements.  These forward-looking statements are made 
as at the date of this press release and include, without limitation, 
statements regarding discussions of future plans, the realization, cost, 
timing and extent of mineral resource estimates, estimated future 
exploration expenditures, costs and timing of the development of new 
deposits, success of exploration activities, permitting time lines, and 
requirements for additional capital.  The words "plans", "expects", 
"budget", "scheduled", "estimate", "forecasts", "intend", "anticipate", 
"believe", "may", "will", or similar expressions or variations of such 
words are intended to identify forward-looking statements. 
Forward-looking statements are subject to known and unknown risks, 
uncertainties, assumptions and other factors that may cause actual 
results to vary materially from those expressed or implied by such 
forward-looking statements, including, but not limited to: the effects 
of general economic conditions; the price of gold, silver and copper; 
misjudgements in the course of preparing forward-looking statements; 
risks associated with international operations; the need for additional 
financing; risks inherent in exploration results; conclusions of 
economic evaluations; changes in project parameters; currency and 
commodity price fluctuations; title matters; environmental liability 
claims; unanticipated operational risks; accidents, labour disputes and 
other risks of the mining industry; delays in obtaining governmental 
approvals or in the completion of development or construction 
activities; political risk; and other risks and uncertainties described 
in the Company's annual financial statements for the most recently 
completed financial year which is available on the Company's website at 
www.marianaresources.com .  Although we believe that the expectations 
reflected in such forward-looking statements are based upon reasonable 
assumptions and have attempted to identify important factors that could 
cause actual results to differ materially from those contained in 
forward-looking statements, there may be other factors that cause 
results not to be as anticipated, estimated or intended.  There can be 
no assurance that such statements will prove to be accurate, as actual 
results and future events could differ materially from those anticipated 
in such forward-looking statements.  Accordingly, readers are cautioned 
not to place undue reliance on forward-looking statements.  We do not 
undertake to update any forward-looking statements, except in accordance 
with applicable securities laws. 
 
   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: Mariana Resources Ltd via Globenewswire 
 
 
  http://www.marianaresources.com/index.php 
 

(END) Dow Jones Newswires

April 27, 2017 04:48 ET (08:48 GMT)

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

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