Ariana Resources PLC Director/PDMR Shareholding (2513E)

TIDMAAU

RNS Number : 2513E

Ariana Resources PLC

26 February 2020

26 February 2020

AIM: AAU

Director/PDMR Shareholdings

Ariana Resources plc ("Ariana" or "the Company"), the exploration and development company operating in Turkey, announces that it was informed today of the following transactions:

- Michael de Villiers, Chairman, sold 1,400,000 ordinary shares in the Company ("Ordinary Shares") in his SIPP at 3.040 pence per share;

- and at the same time Mrs de Villiers, wife of Mr de Villiers, purchased 1,400,000 Ordinary Shares in her SIPP/ISA at 3.101 pence per share.

Accordingly the holding of Mr de Villiers remains at 54,845,000 Ordinary Shares in the Company, representing a holding of 5.17%.

The following information relating to the transaction has been filed with the FCA in accordance with Article 19(1) of the Market Abuse Regulation,

Michael de Villiers

 
 1    Details of t he p erson disc harging managerial responsib 
       ilities / p erson closely associated 
 a)   Name                        Michael de Villiers 
     --------------------------  ------------------------------------- 
 2    Reason for notification 
     ----------------------------------------------------------------- 
 a)   Position / status           Chairman 
     --------------------------  ------------------------------------- 
 b)   I nitial notification       Initial 
       /Amendment 
     --------------------------  ------------------------------------- 
 3    Details of t he issu er, emission allow a n ce m a r 
       k et participan t, au ct ion plat for m, au ction eer 
       or auc tion monitor 
     ----------------------------------------------------------------- 
 a)   Name                        Ariana Resources plc 
     --------------------------  ------------------------------------- 
 b)   LEI                         213800LVVY7GZY21LH22 
     --------------------------  ------------------------------------- 
 4    Details of t he t ransact ion (s): section to be re 
       p eated for ( i) e a ch type of instr u m e n t; (ii) 
       each type of transac tion; (iii) each date; and ( iv) 
       each place w h ere transactions have b een condu cted 
     ----------------------------------------------------------------- 
 a)   Description of the          Ordinary shares of 0.1 pence each 
       financial instrument,       in Ariana Resources plc 
       t ype of instrument 
 
       I d e ntification           ISIN GB00B085SD50 
       code 
     --------------------------  ------------------------------------- 
      Nature of the transaction   Sale and purchase of ordinary shares 
     --------------------------  ------------------------------------- 
 c)   Price(s) and volumes(s) 
                                     Price(s) - sale        Volumes(s) 
                                     3.040 pence            1,400,000 
                                                           ----------- 
                                     Price(s) - purchase    Volumes(s) 
                                                           ----------- 
                                     3.101 pence            1,400,000 
                                                           ----------- 
     --------------------------  ------------------------------------- 
 d)   Aggregated information      n/a 
     --------------------------  ------------------------------------- 
 e)   Date of the transaction     26 February 2020 
     --------------------------  ------------------------------------- 
 f)   Place of the transaction    LSE, AIM (XLON) and XOFF 
     --------------------------  ------------------------------------- 
 

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

Contacts:

 
 Ariana Resources plc                 Tel: [phone] 
                                       3616 
 Michael de Villiers, Chairman 
 Kerim Sener, Managing Director 
 
 Beaumont Cornish Limited             Tel: [phone] 
                                       3396 
 Roland Cornish / Felicity Geidt 
 
 Panmure Gordon (UK) Limited          Tel: [phone] 
                                       2500 
 Atholl Tweedie / James Stearns 
 
 Yellow Jersey PR Limited             Tel: [phone] 
                                       9512 
 Dom Barretto / Joe Burgess / Henry   [e-mail] 
  Wilkinson 
 

Editors' Note

About Ariana Resources:

Ariana is an AIM-listed mineral exploration and development company operating in Europe. It has interests in gold production in Turkey and copper-gold assets in Cyprus. The Company is developing a portfolio of prospective licences in Turkey, which contain a total of 1.6 million ounces of gold and other metals (as at end-2017).

The Red Rabbit Project is comprised of the Company's flagship assets, the Kiziltepe and Tavsan gold projects, and is part of a 50:50 Joint Venture with Proccea Construction Co. Both assets are located in western Turkey, which hosts some of the largest operating gold mines in the country and remains highly prospective for new porphyry and epithermal deposits. The Kiziltepe Sector of the Red Rabbit Project is fully permitted and is currently in production. The total resource inventory at the Project and its wider area is c. 605,000 ounces of gold equivalent (as at end-2017). At Kiziltepe a Net Smelter Return ("NSR") royalty of up to 2.5% on production is payable to Franco-Nevada Corporation. At Tavsan an NSR royalty of up to 2% on future production is payable to Sandstorm Gold.

The 100% owned Salinbas Gold Project is located in north-eastern Turkey and has a total resource inventory of c. 1 million ounces of gold equivalent. The project comprises three notable licence areas: Salinbas, Ardala and Hizarliyayla, all of which are located within a multi-million ounce Artvin Goldfield. The "Hot Gold Corridor" contains several significant gold-copper projects including the 4Moz Hot Maden project, which lies 16km to the south of Salinbas and 7km south of Hizarliyayla. A NSR royalty of up to 2% on future production is payable to Eldorado Gold Corporation on the Salinbas Gold Project.

Ariana is also earning-in to 50% of UK-registered Venus Minerals Ltd ("Venus"). Venus is focused on the exploration and development of copper-gold assets in Cyprus.

Panmure Gordon (UK) Limited are broker 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 .

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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February 26, 2020 11:33 ET (16:33 GMT)