6th Jul 2015 11:18
LONDON (Alliance News) - Ariana Resources PLC on Monday said it has made further progress on the Red Rabbit gold project in western Turkey.
The company said it has now acquired 100% of the freehold land in the tailings dam and process plant sites at the prospect and has permission to use government-owned land within the project area.
The Environmental Impact Assessment Area at the site has been increased and granted, and the group said it has now acquired 95% of the land needed for the project, with the rest to be bought in the next couple of months.
"We are very pleased to have secured over 95% of the surface rights for the project following the receipt of our forestry permit approvals. This is particularly significant progress on the critical path to construction, allowing site works at the tailings dam and process plant sites to be initiated early in the development programme," said Kerim Sener, Ariana's managing director.
Ariana shares were down 2.8% to 1.1175 pence on Monday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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