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Ariana Resources receives £1.6mln in dividends from Turkish gold mining operations 

Ariana has built up a track record of successful operations in Turkey

Ariana Resources PLC -

Ariana Resources PLC (LON:AAU) has received maiden dividends from its wholly-owned Turkish operation subsidiary Galata Madencilik, after the company’s Kiziltepe gold mine began generating cash and profits.

A total of £1.6mln has been transferred to Ariana.

"The maiden dividends from Galata represent the culmination of many years of effort by the company and mark the moment that its subsidiary became the cash-generative engine of growth for the group,” Ariana managing director Kerim Sener said in a statement.

The Kiziltepe operation is currently expected to deliver an average of 20,000 ounces of gold equivalent per annum over eight years of initial mine life, for a total of up to 160,000 ounces.

Quick facts: Ariana Resources PLC

Price: 2.95 GBX

AIM:AAU
Market: AIM
Market Cap: £31.26 m
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Ariana Resources 'in the best state it's ever been with robust operation and...

Ariana Resources PLC's (LON:AAU) Kerim Sener speaks to Proactive London's Andrew Scott following the news this morning they've received a maiden dividend from its wholly-owned Turkish operation subsidiary Galata Madencilik. Gold production guidance for 2020 from Kiziltepe is around 18,000 oz...

1 week ago

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