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Ariana Resources still mining strongly at Kiziltepe in Turkey

“Production from our highest-grade pit, Arzu South, is due to be completed during Q3 2020 and production thereafter will be focused on Arzu North and Derya"

Ariana Resources PLC - Ariana Resources still mining strongly at Kiziltepe in Turkey
Work at the mine has continued uninterrupted through the coronavirus crisis

Ariana Resources PLC (LON:AAU) continues to mine strongly from its Kiziltepe mine in Turkey with the gold producer noting that ore production was at a record level last quarter and gold output 14% was ahead of guidance.

In a statement, Ariana managing director said Kerim Sener work at the mine has continued uninterrupted through the coronavirus crisis, with transport restrictions in Turkey not yet affecting the mining sector.

The group said gold output was 5,129 ounces, with a lower feed grade accounting for the drop from 7,300 ounces in the comparable three months last year.

Sener noted that Ariana has upped production to help compensate for this expected reduction in grades from the satellite pits with decent weather helping.  

“Production from our highest-grade pit, Arzu South, is due to be completed during Q3 2020 and production thereafter will be focused on Arzu North and Derya.

“In addition, the mine has built up a stockpile of over 130,000 tonnes of ore, sufficient to cover at least eight months of mill feed,” he added.

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Price: 4.05 GBX

AIM:AAU
Market: AIM
Market Cap: £42.92 m
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