29th Jun 2018 13:02
LONDON (Alliance News) - Ariana Resources PLC said Friday its performance in 2018 to date has been "extremely encouraging" with production set to meet expecations
Speaking at the company's annual general meeting Friday, Chairman Michael de Villiers said: "2017 opened up a new chapter for Ariana Resources, as we became one of only a handful of junior explorers on AIM to have transitioned successfully to producer status."
De Villiers said the company is looking toward the next phase of it strategy, which is to develop the three assets in its current portfolio: Kiziltepe, Salinbas, and Tavsan, all in Turkey.
Ariana Resources are encouraged by the "strong" operational results from the Kiziltepe mine and the "positive resource orientated developments" at Salinbas and Tavsan.
The company believe Salinbas contains resources well in excess of the 1 million ounces it has already identified.
Shares in Ariana Resources were down 3.7% Friday at 1.30 pence each.
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