RCS - Ariana Resources PLC - PUBLICATION OF Q&A IN RELATION TO CIRCULAR

Ariana ResourcesAnnouncement

12/02/2021 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20210212:nRSL8739Oa&default-theme=true

RNS Number : 8739O  Ariana Resources PLC  12 February 2021

 

 

 

 

 

 

12 February 2021

AIM: AAU

 

PUBLICATION OF Q&A IN RELATION TO CIRCULAR

 

Ariana Resources plc ("Ariana" or "the Company"), the AIM-listed exploration
and development company operating in Europe, announces that it has today
published a Q&A document on its website in relation to the circular (the
"Circular") that was posted to shareholders on 08 February 2021.

 

The Q&A document clarifies certain points concerning the proposed
reduction of share capital via a cancellation of the Company's share premium
account, the cancellation of the deferred shares and the authority for the
Company to buy back shares.

 

The document can be accessed at: https://arianaresources.com/gm-q-a
(https://arianaresources.com/gm-q-a) .

 

 

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

 Panmure Gordon (UK) Limited                   Tel: +44 (0) 20 7886 2500
 John Prior / Hugh Rich / Atholl Tweedie

 Yellow Jersey PR Limited                      Tel: +44 (0) 7951 402 336
 Dom Barretto / Joe Burgess / Henry Wilkinson  arianaresources@yellowjerseypr.com (mailto:arianaresources@yellowjerseypr.com)

 

Editors' Note:

 

About Ariana Resources (details as current and before completion of the JV):

 

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 depleted total of c. 2.1 million ounces of
gold and other metals (as at July 2020).

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 depleted resource inventory at the Project and its
wider area is c. 500,000 ounces of gold equivalent (as at April 2020).  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. 1.5 million ounces of gold.  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
4 million ounce 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")
and has to date earned into an entitlement to 16%.  Venus is focused on the
exploration and development of copper-gold assets in Cyprus.

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 (http://www.arianaresources.com) .

Ends.

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained within this announcement is of a non-regulatory nature. Reach announcements are identified with an orange label and the word “Reach” in the source column of the News Explorer pages of London Stock Exchange’s website so that they are distinguished from the RNS UK regulatory service. Other vendors subscribing for Reach press releases may use a different method to distinguish Reach announcements from UK regulatory news.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  NRADKDBDCBKDQBD