Ariana Resources unearths new vein on edge of Kiziltepe
A follow-up drill programme will begin in July and August,
Company
LON:AAU
Ariana Resources is a 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. The company's focus is a +1Moz gold development project in Zimbabwe and has interests in gold production in Türkiye and copper-gold silver and zinc exploration and development projects in Cyprus and Kosovo.
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A follow-up drill programme will begin in July and August,
Some 160 people are now working on site, including 50 from villages and towns in the vicinity.
The price of gold has soared 20% in the first three months of this year, which is handy, as Ariana is set to complete its Kiziltepe mine this year.
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This week's mining industry news from Proactive Investors.
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The overall resource is now 195,200 oz gold and 3.15Moz of silver
“The project remains on schedule for commissioning during H2 2016," said managing director Kerim Sener.
It claims not to have a crystal ball, but the natural resources investor has hardly put a foot wrong so far
Gold prices were heading for a weekly gain as traders look for a safe haven..
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A busy week for small cap miners ended with Ulster-focused gold explorer Dalradian Resources Inc saying it remained on track to submit a planning application for the Curraghinalt mine later this year.
Proccea has also committed to another US$2.1mln to take its final stake to 50%.
Major share price risers and fallers in London at 4pm
Gold was marking time ahead of the conclusion of the March US Federal Reserve meeting.
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A stockwork vein-hosted style of mineralisation should be amenable to low strip-ratio open-pit mining, Ariana added.
AIM's oil names rallied as Brent crude advanced back about $40 for the first time in months.
All of the big risers this morning were to be found among the small caps
Here are some significant movers at around 4.15pm ...
A mining permit is already in place, while Ariana sees significant exploration upside along strike and on sub-parallel vein splays.
The new partners will seek exploration and development opportunities in Thailand and Myanmar.
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The week ended with Patagonia Gold saying it expects to start production from its Cap-Oeste deposit in Argentina by the autumn.
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Biotech group Scancell is to present an update on its immunotherapy technologies at the Biotech Capital Conference in London.
Ariana Resources said its interest in technology metals has been boosted as it completed the sale of a package of lithium-containing tenements in Pilbara, Australia to Dakota Minerals.
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Shares in North River Resources shot up almost 18% on Friday after it said the current drilling at its flagship Namib lead-zinc project had increased its confidence in the mineral resource at the Namibia property.
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Britain's blue chip benchmark tumbled 2.4% on the day to close 135 points lower as global markets continue to sink amid investor panic.
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A pivotal day for mining investor Metal Tiger, "rapid progress" for Ariana Resources and a new director at Oilex.
London’s blue chip index dropped 101 points to 5,570 even with a modest rally ahead of the US opening.
Ariana Resources remains on track to produce its first gold from the Kiziltepe mine later this year
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We are very pleased to report on the rapid progress with construction at the Kiziltepe Mine - MD Kerim Sener.
Ariana Resources has hailed results from final phase drilling at the Kiziltepe mine area in Turkey, which could lead to further increases in the mine life.
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Production appeared to be the name of the game for diggers this week....
Kizilcukur lies 22km north east of Kiziltepe where Ariana is constructing its first mine
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A round-up of the day's news from the small cap universe
The mine developer, in an open letter to shareholders, highlighted that it achieved all its key targets in 2015, and it remains on track for its maiden gold pour in the second half of the coming year.
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A notable riser was Electric Word (LON:ELE), whose shares added 25% as it announced it has agreed to sell its 70% stake in online magazine iGaming Business to Clarion Events for around £13.8mln.
The sale was arranged and carried out by Asgard, Ariana’s 86% owned Australian subsidiary
Ariana Resources, Berkeley Energia and Rambler Metals & Mining also made headlines this week
Grades intercepted were 4.07g/t gold equivalent over 11m in one hole
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The licence is 100% owned by Ariana, though it will pay a 2% net smelter royalty on commercial production.
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The FTSE100 rose 1 point to 6,362, having spent most of the day around 20 points lower
Investments and investor services
Below are the main news-driven share price movements at 4pm.
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Miners and oil firms dominated the small cap news today
Turkey focused mine developer Ariana Resources has kicked off a new drilling programme at the Kiziltepe sector of its Red Rabbit gold project in a bid to increase the resource there.
Miners had good news last week despite global economic turmoil
The Azerbaijan-based gold and copper miner produced 18,165 ounces of gold.
Ariana is building its first mine, at Kiziltepe, in a 50:50 partnership with Proccea.
“The Kibo transaction gave us some working capital and we wanted to reinvest it quickly and efficiently."
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Goldplat got a boost, Rambler is merging, and Ariana start building
Final discussions are underway with component suppliers while a mining contractor is expected to start commence site works in October.
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There was a lot of big news in the world of small caps today.
Kerim Sener, managing director, said: “We are now close to the mobilisation of construction crews to site..".
Investments and investor services
There was a lot of news this week in the world of the small cap miners.
Investments and investor services
There was a lot of news to get through today in the world of small caps...
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Gold mine developer Ariana Resources has brought in £1mln via a share placing and subscription....
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Pharma and biotech stocks were prominent and ValiRx shares were boosted....
Ariana plans to start drilling soon at the Karakavak and Kepez West prospects at the Red Rabbit project....
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Quite busy on the mining front this week. Here are some highlights.
Investments and investor services
A number of technology companies were celebrating contract wins today.
Ariana Resources is tidying up land ownership at its Red Rabbit project in Turkey ahead of the start of construction at the Kiziltepe mine.
There was a lot of news in the small cap mining sector this week.
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There is little doubt the big news of the day is the green-light being given for a massive potash project in a national park in York.
Ariana Resources says the second half of 2016 will probably see the first gold pour at Kiziltepe, with steady state output of 20,000 ounces gold equivalent per annum expected at some point during the same period.
Year-on-year, the company’s net assets increased by 1,900%, its market capitalisation by over 400% and its borrowings were cut to zero.