Ariana Resources PLC Director/PDMR Shareholding (7363P)

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RNS Number : 7363P

Ariana Resources PLC

19 February 2021

This announcement replaces the announcement published this morning at 07.00 with RNS number 6561P in which the date for purchase of the shares was incorrectly given as 18 January 2021 rather than 18 February 2021. All other information remains the same.

19 February 2021

AIM: AAU

Director/PDMR Shareholdings

Ariana Resources plc ("Ariana" or "the Company"), the AIM-listed exploration and development company operating in Europe , announces that it has been informed of the following transaction:

- on 18 February 2021, Christopher Sangster, Non-Executive Director, purchased 210,443 Ordinary Shares in his SIPP at 4.75p per share.

Accordingly the holding of Mr Sangster now stands at 3,927,287 Ordinary Shares in the Company, representing a holding of 0.36% of the Company's share capital.

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

Christopher Sangster

 
 1    Details of t he p erson disc harging managerial responsib 
       ilities / p erson closely associated 
 a)   Name                        Christopher Sangster 
     --------------------------  ------------------------------------ 
 2    Reason for notification 
     ---------------------------------------------------------------- 
 a)   Position / status           Non-Executive Director 
     --------------------------  ------------------------------------ 
 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   Purchase of ordinary shares 
     --------------------------  ------------------------------------ 
 c)   Price(s) and volumes(s) 
                                     Price(s) - purchase   Volumes(s) 
                                     4.75p                 210,443 
                                                          ----------- 
     --------------------------  ------------------------------------ 
 d)   Aggregated information      n/a 
     --------------------------  ------------------------------------ 
 e)   Date of the transaction     18 February 2021 
     --------------------------  ------------------------------------ 
 f)   Place of the transaction    LSE, AIM (XLON) 
     --------------------------  ------------------------------------ 
 

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

Contacts:

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

About Ariana Resources:

Ariana is an AIM-listed mineral exploration and development company with an exceptional track-record of creating value for its shareholders through its interests in active mining projects and investments in exploration companies. Its current interests include gold production in Turkey and copper-gold exploration and development projects in Cyprus.

The Company holds 23.5% interest in Zenit Madencilik San. ve Tic. A.S. a joint venture with Ozaltin Holding A.S. and Proccea Construction Co. in Turkey which contains a depleted total of c. 2.1 million ounces of gold and other metals (as at July 2020). The joint venture comprises the Kiziltepe Mine and the Tavsan and Salinbas projects.

The Kiziltepe Gold-Silver Mine is located in western Turkey and contains a depleted JORC Measured, Indicated and Inferred Resource of 227,000 ounces gold and 0.7 million ounces silver (as at April 2020). The mine has been in profitable production since 2017 and is expected to produce at a rate of c.20,000 ounces of gold per annum to at least the mid-2020s. A Net Smelter Return ("NSR") royalty of 2.5% on production is being paid to Franco-Nevada Corporation.

The Tavsan Gold Project is located in western Turkey and contains a JORC Measured, Indicated and Inferred Resource of 253,000 ounces gold and 3.7 million ounces silver (as at June 2020). The project is being progressed through permitting and an Environmental Impact Assessment, with the intention of developing the site to become the second joint venture gold mining operation. A NSR royalty of up to 2% on future production is payable to Sandstorm Gold.

The Salinbas Gold Project is located in north-eastern Turkey and contains a JORC Measured, Indicated and Inferred Resource of 1.5 million ounces of gold (as at July 2020). It is located within the multi-million ounce Artvin Goldfield, which contains the "Hot Gold Corridor" comprising several significant gold-copper projects including the 4 million ounce Hot Maden project, which lies 16km to the south of Salinbas. A NSR royalty of up to 2% on future production is payable to Eldorado Gold Corporation.

Ariana is also earning-in to 50% of UK-registered Venus Minerals Ltd ("Venus") and has to date earned into an entitlement to 16%. Venus is focused on the exploration and development of copper-gold assets in Cyprus which contain a combined JORC Inferred Resource of 9.5Mt @ 0.65% copper (excluding additional gold, silver and zinc).

Panmure Gordon (UK) Limited is broker to the Company and Beaumont Cornish Limited is the Company's Nominated Adviser and Broker.

For further information on Ariana you are invited to visit the Company's website at www.arianaresources.com .

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February 19, 2021 05:28 ET (10:28 GMT)