12th Mar 2018 13:40
Gold production is guided for around 20,000 ounces of gold in 2018, compared to 10,191 ounces in 2017. This is also 21% above feasibility plan for the second year of operations, Ariana said. The average gold grade will be around four grammes of gold per tonne of ore in 2018, and gold recovery is forecast to be above 90%.
The company is guiding for monthly ore production between 15,500 tonnes and 17,000 tonnes, with the second and third quarter expected to be the most productive.
Ore throughput to the mill is guided in 2018 to be around 180,000 tonnes, a 20% increase on the mine's feasibility plan.
The Kiziltepe mine is located on the Red Rabbit project, which it holds in a joint venture with Turkish firm Proccea.
Managing Director Kerim Sener said: "We are very pleased to have reported in early February a strong operational finish to 2017. The Kiziltepe mine continued to perform very well and maintained positive operational momentum throughout Q4 and in to Q1 2018."
"With our gold production guidance for the joint venture indicating circa 20,000 oz for the year, we look forward to delivering further towards our solid growth trajectory as a Company benefiting from joint venture operations."
Shares were up 3.1% on Monday at
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