REG - Ariana Resources PLC - Update on Issue of Equity

Ariana ResourcesAnnouncement

16/12/2021 14:10

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RNS Number : 9342V  Ariana Resources PLC  16 December 2021

 

 

 

 

 

 

16 December 2021

AIM: AAU

 

Update on Issue of Equity

 

 

Ariana Resources plc ("Ariana" or "the Company"), the AIM-listed exploration
and development company operating in Europe, announces that further to the
announcements of 6 December 2021 and 9 December 2021 and the issue of
3,000,000 and 2,000,000 new ordinary shares respectively, admission to trading
on AIM of the total of 5,000,000 new ordinary shares will now take place on or
around 17 December 2021.

 

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
 Atholl Tweedie / James Stearns

 Yellow Jersey PR Limited                         Tel: +44 (0) 20 3004 9512
 Dom Barretto / Henry Wilkinson / Matthew McHale  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 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 3.7 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 0.7
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 owns 75% of Western Tethyan Resources Ltd ("WTR"), which operates
across 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.

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 Inferred Resource of 9.5Mt @ 0.65% copper (excluding
additional gold, silver and zinc).

Ariana operates its wholly-owned Asgard Metals Fund ("Asgard"), as part of the
Company's proprietary Project Catalyst Strategy. The Fund will be 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.

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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