REG - Ariana Resources PLC - Appointment of Deputy Chairman

Ariana ResourcesAnnouncement

03/06/2025 07:00

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RNS Number : 0892L  Ariana Resources PLC  03 June 2025

3 June 2025

AIM: AAU

APPOINTMENT OF DEPUTY CHAIRMAN

 

Ariana Resources plc ("Ariana" or "the Company"), the AIM-listed mineral
exploration and development company with gold project interests in Africa and
Europe, is pleased to announce the appointment of Michael Atkins to the Board
as Deputy Chairman of the Company.

 

Michael William Atkins

 

Mr. Atkins has had a successful career as an Executive and Non-Executive
Chairman and Director of numerous listed Australian companies. He brings
extensive international experience, having worked in more than 15 countries
across Africa (including Botswana, Zimbabwe, Ghana, Cameroon, Djibouti, and
South Africa), North America (the USA and Canada), Southeast Asia, China, and
Europe (Germany, Switzerland, Sweden, and the UK). He is also a Fellow of the
Australian Institute of Company Directors and has a Bachelor of Commerce
degree from the University of Western Australia.

 

Mr. Atkins' experience in African gold projects will be especially valuable,
notably through his role as the Founder and Executive Chairman of Gallery Gold
Ltd ("Gallery"). In this capacity, he was responsible for the acquisition of
the Galane Gold Project in Botswana, which is also situated in the same
Zimbabwe Craton as Ariana's Dokwe Project. Gallery successfully developed the
Galane Gold Project, which was later sold to IAMGold and became an operating
gold mine at 100,000 ounces per annum. He was also Chairman of Azumah
Resources Limited, which advanced its Wa Gold Project in Ghana, West Africa,
to a Reserve of over 1 million ounces of gold.

 

Other roles of Mr Atkins include Managing Director of Beach Petroleum during
its restructuring in 1990-92, and Chairman of Westgold Resources Limited,
where he restructured it from an oil and gas company to a gold explorer.
Westgold then went on to acquire the Central Murchison Gold Project and later
merged with MetalsX Limited.

 

Mr. Atkins remains a Non-Executive Director of SRG Global Limited and
Memphasys Limited, both ASX-listed companies, and Corporate Consultant to ASX
and AIM-listed European Metals Holdings Limited, which is developing the
largest hard rock lithium project in Europe.

 

Dr. Kerim Sener, Managing Director, commented:

"We are very pleased to welcome Michael Atkins to the Ariana Board as Deputy
Chairman. Michael's longstanding expertise in corporate governance, capital
raising on the ASX, restructuring, and deal-making is internationally
noteworthy.

 

"We believe his extensive corporate network and residing in Australia will be
invaluable in Ariana's ASX dual-listing, and his specific experience operating
successful mining companies, particularly in southern Africa, is impressive,
as we continue to progress our over 1 million ounces Dokwe Gold Project in
Zimbabwe through feasibility. Michael's appointment will complement the
current Board and he will become Chair of a new Board committee tasked with
Company-wide transformation, positioning it for future growth and success."

 

AIM Rules Disclosures

 

Michael William Atkins currently holds or has held the following directorships
and partnerships in the last five years:

 

 Current directorships/partnerships  Previous directorships
 Memphasys Limited                   Castle Minerals Limited
 SRG Global Limited                  Legend Mining Limited
 Busby Investments Limited Pty Ltd   Warrego Energy Ltd

 

Mr. Atkins holds no ordinary shares or options in the Company.

 

Other than as provided in this announcement, no other disclosures in relation
to Mr. Atkins are required under Rule 17 and schedule 2 (g) of the AIM Rules
for Companies.

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the
European Union (Withdrawal) Act 2018 ("UK MAR").

Enquiries:

 

 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

 (Nominated Adviser)

 Roland Cornish / Felicity Geidt

 Zeus Capital (Joint Broker)                 Tel: +44 (0) 203 829 5000

 Harry Ansell / Katy Mitchell

 Fortified Securities (Joint Broker)         Tel: +44 (0) 203 411 7773

 Guy Wheatley

 Yellow Jersey PR Limited (Financial PR)     Tel: +44 (0) 7983 521 488

 Dom Barretto / Shivantha Thambirajah /      arianaresources@yellowjerseypr.com

 Bessie Elliot

 

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated
Adviser and is authorised and regulated by the FCA. Beaumont Cornish's
responsibilities as the Company's Nominated Adviser, including a
responsibility to advise and guide the Company on its responsibilities under
the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed
solely to the London Stock Exchange. Beaumont Cornish is not acting for and
will not be responsible to any other persons for providing protections
afforded to customers of Beaumont Cornish nor for advising them in relation to
the proposed arrangements described in this announcement or any matter
referred to in it.

 

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 a major gold development project in Zimbabwe,
gold production in Türkiye and copper-gold exploration and development
projects in Cyprus and Kosovo.

 

Ariana owns 100% of the Dokwe Gold Project ("Dokwe") in Zimbabwe. Dokwe is
made up of the Dokwe North and Dokwe Central gold deposits which are located
in the Tsholotsho District near the city of Bulawayo. The deposits have a
combined in-pit JORC Measured, Indicated and Inferred Resource of over 1.42
million ounces of gold (as at March 2025) and the project represents the
largest undeveloped gold project in Zimbabwe.

 

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
Türkiye which contains a depleted total of c. 2.2 million ounces gold
equivalent (as at March 2024, using a price ratio of 90 Ag to 1 Au). The joint
venture comprises the Kiziltepe Mine and the Tavsan and Salinbas projects.

 

The Kiziltepe Gold-Silver Mine is located in western Türkiye and contains a
depleted JORC Measured, Indicated and Inferred Resource of 171,700 ounces gold
and 3.3 million ounces silver (as at March 2024). The mine has been in
profitable production since 2017 and has been producing at an average rate of
c.22,000 ounces of gold per annum. A Net Smelter Return ("NSR") royalty of
2.5% on production is being paid to Franco-Nevada Corporation.

 

The Tavsan Gold Mine is located in western Türkiye and contains a JORC
Measured, Indicated and Inferred Resource of 310,900 ounces gold and 1.1
million ounces silver (as at March 2024). Following the approval of its
Environmental Impact Assessment and associated permitting, Tavsan is being
developed as the second gold mining operation in Türkiye and is currently in
construction. A NSR royalty of up to 2% on future production is payable to
Sandstorm Gold.

 

The Salinbas Gold Project is located in north-eastern Türkiye 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 owns 76% of UK-registered Western Tethyan Resources Ltd ("WTR"),
which operates across south-eastern Europe and is based in
Pristina, Republic of Kosovo. The company is targeting its exploration on
major copper-gold deposits across the porphyry-epithermal transition. WTR is
being funded through a five-year Alliance Agreement with Newmont Ventures
Limited (www.newmont.com) and is separately earning-in to up to 85% of the
Slivova Gold Project.

 

Ariana owns 61% of UK-registered Venus Minerals PLC ("Venus") which is
focused on the exploration and development of copper-gold projects in Cyprus,
some of which are in application, containing a combined JORC Indicated and
Inferred Resource of 16.6Mt @ 0.45% to 0.80% copper (excluding additional
gold, silver and zinc).

 

Ariana owns several investments in listed and private companies via its
Australian subsidiary Asgard Metals Pty. Ltd. ("Asgard"), which also
provides technical input into the various investee company exploration
programmes. Investments have been made in high-value potential,
discovery-stage mineral exploration companies located across the Eastern
Hemisphere and within easy reach of Ariana's operational hubs in Australia,
Türkiye, UK and Zimbabwe. Its most advanced interest is through a 4.1%
holding of Panther Metals Limited (ASX: PNT).

 

Zeus Capital Limited and Fortified Securities are the 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.

 

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