6th Jul 2016 09:34
LONDON (Alliance News) - Mariana Resources Ltd on Wednesday said it has appointed representatives of partners Lidya Madencilik Sanayi ve Ticaret AS and Sandstorm Gold Ltd to its board to strengthen its relationships with the companies.
Mariana said it has appointed Mustafa Aksoy from Lidya as a non-executive director. Aksoy is the managing director of Lidya, Mariana's partner on the Hot Maden gold-copper project in Turkey. Mariana and Lidya signed a formal joint-venture agreement for the project back in January.
The company also appointed Sandstorm's Ron Ho as a non-executive director. He is the vice-president of finance at Sandstorm, which provides financing to gold miners. In May, Sandstorm took a 7.6% stake in Mariana after the AIM-listed firm conducted a private placement to raise funds to back work at Hot Maden.
Mariana shares were up 5.8% to 52.88 pence Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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