REG - Ariana Resources PLC - DIRECTOR/PDMR SHAREHOLDING

Ariana ResourcesAnnouncement

04/11/2022 12:15

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RNS Number : 3997F  Ariana Resources PLC  04 November 2022

 

 

 

 

 

4 November 2022

AIM: AAU

 

Director/PDMR Shareholdings

 

Total Voting Rights

 

 

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:

 

-     Mr Michael de Villiers, Chairman, on 3 November 2022 exercised
options pursuant to the Ariana Resources PLC 2018 Share Option Plan over
1,500,000 ordinary shares in the Company ("Ordinary Shares") at 1.55 pence per
share.   Application will be made for the new Ordinary Shares, which will
rank pari passu with all existing Ordinary Shares, to be admitted to trading
on AIM on or around 10 November 2022 ("Admission"); and

 

-     that Mr Michael de Villiers, Chairman, on 3 November 2022 has
disposed of 750,000 Ordinary Shares at an average price of 2.93 pence per
share.

 

For the purposes of the Disclosure Guidance and Transparency Rules of the
Financial Conduct Authority ("FCA"), at Admission the Company's issued share
capital will consist of 1,146,363,330 ordinary shares with a nominal value of
0.1p each, with voting rights ("Ordinary Shares"). The Company does not hold
any Ordinary Shares in Treasury.  Therefore, the total number of Ordinary
Shares in the Company with voting rights is 1,146,363,330.

 

Accordingly the holding of Mr de Villiers is now 64,750,000 Ordinary Shares in
the Company, representing a percentage holding of 5.65% of the Company's
enlarged share capital.

 

The following information relating to the transaction has been filed with the
FCA in accordance with the UK Market Abuse Regulation

 

Michael de Villier

 1   Details of the person discharging  managerial  responsibilities  /  person
      closely associated
 a)  Name                                                             Michael de Villiers
 2   Reason for notification
 a)  Position / status                                                Director

 b)  Initial notification                                             Initial

     /Amendment
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                             Ariana Resources plc

 b)  LEI                                                              213800LVVY7GZY21LH22
 4   Details of the transaction(s): section to be repeated for (i) each type of
     instrument; (ii) each type of transaction; (iii) each date; and (iv) each
     place where transactions have been conducted
 a)  Description  of  the financial instrument, type of instrument    Ordinary shares of 0.1 pence each in Ariana Resources plc

     Identification code

                                                                      ISIN GB00B085SD50

     Nature of the transactions                                       -     exercise of options

                                                                      -     disposal of ordinary shares
 c)  Price(s) and volumes(s)

Price(s)     Volumes(s)
                                                                      1.55 pence   1,500,000

                                                                      2.93 pence   750,000

 

 d)  Aggregated information                                           n/a
 e)  Date of the transaction                                          -     3 November 2022

 f)  Place of the transaction                                         Off market

 

 

d)

Aggregated information

n/a

e)

Date of the transaction

-     3 November 2022

 

f)

Place of the transaction

Off market

 

 

This announcement contains inside information for the purposes of the UK
Market Abuse Regulation.

 

 

Contacts:

 

 Ariana Resources plc                                  Tel: +44 (0) 20 3476 2080
 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) 20 3004 9512
 Dominic Barretto / Henry Wilkinson / Laurie Gellhorn  arianaresources@yellowjerseypr.com (mailto:arianaresources@yellowjerseypr.com)

 

Editors' Note:

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 and Kosovo.

 

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 February 2022). 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 222,000 ounces gold
and 3.8 million ounces silver (as at February 2022). 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 Mine is located in western Turkey and contains a JORC
Measured, Indicated and Inferred Resource of 253,000 ounces gold and 0.7
million ounces silver (as at June 2020). Following the approval of its
Environmental Impact Assessment and associated permitting, Tavsan is being
developed as the second gold mining operation in Turkey. 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 owns 100% of Australia-registered Asgard Metals Fund ("Asgard"), as
part of the Company's proprietary Project Catalyst Strategy. The Fund is
focused on investments 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, Turkey and the UK.

 

Ariana owns 75% 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 Corporation
(www.newmont.com (http://www.newmont.com) ).

 

Ariana owns 50% of UK-registered Venus Minerals Ltd ("Venus") which is focused
on the exploration and development of copper-gold assets in Cyprus which
contain a combined JORC Indicated and Inferred Resource of 17Mt @ 0.45% to
1.10% copper (excluding additional gold, silver and zinc), in addition to
pursuing a separate 50:50 JV on Hellenic Apliki Mines, which owns the Hellenic
SX-EW processing plant and the 17Mt @ 0.26% to 0.69% Cu Apliki mine
development project.

 

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.

 

 

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