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Ariana Resources PLC

Ariana Resources PLC - Director/PDMR Shareholding

RNS Number : 7363P
Ariana Resources PLC
19 February 2021
 

 

 

 

 

 

 

 

 

 

This announcement replaces the announcement published this morning at 07.00 with RNS number 6561P in which the date for purchase of the shares was incorrectly given as 18 January 2021 rather than 18 February 2021.   All other information remains the same.

 

19 February 2021

AIM: AAU

Director/PDMR Shareholdings

 

 

Ariana Resources plc ("Ariana" or "the Company"), the AIM-listed exploration and development company operating in Europe, announces that it has been informed of the following transaction:

 

-     on 18 February 2021, Christopher Sangster, Non-Executive Director, purchased 210,443 Ordinary Shares in his SIPP at 4.75p per share.

 

Accordingly the holding of Mr Sangster now stands at 3,927,287 Ordinary Shares in the Company, representing a holding of 0.36% of the Company's share capital.

 

 

The following information relating to the transaction has been filed with the FCA in accordance with Article 19(1) of the Market Abuse Regulation,

 

Christopher Sangster

 

1

Details of the person discharging  managerial  responsibilities  /  person  closely associated

a)

Name

Christopher Sangster

 

2

Reason for notification

a)

Position / status

Non-Executive Director

 

b)

Initial notification

/Amendment

Initial

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Ariana Resources plc

 

b)

LEI

213800LVVY7GZY21LH22

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description  of  the financial instrument, type of instrument

 

Identification code

Ordinary shares of 0.1 pence each in Ariana Resources plc

 

 

ISIN GB00B085SD50

 


Nature of the transaction

Purchase of ordinary shares

c)

Price(s) and volumes(s)

 

 

Price(s) - purchase

Volumes(s)

4.75p

210,443

 

 

d)

Aggregated information

n/a

e)

Date of the transaction

18 February 2021

f)

Place of the transaction

LSE, AIM (XLON)  

 

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

 

 

Contacts:

 

Ariana Resources plc

Tel: +44 (0) 20 7407 3616

Michael de Villiers, Chairman


Kerim Sener, Managing Director


Beaumont Cornish Limited

Tel: +44 (0) 20 7628 3396

Roland Cornish / Felicity Geidt


Panmure Gordon (UK) Limited

Tel: +44 (0) 20 7886 2500

John Prior / Hugh Rich / Atholl Tweedie


Yellow Jersey PR Limited

Tel: +44 (0) 7951 402 336

Dom Barretto / Joe Burgess / Henry Wilkinson

arianaresources@yellowjerseypr.com

 

 

About Ariana Resources:

Ariana is an AIM-listed mineral exploration and development company with an exceptional track-record of creating value for its shareholders through its interests in active mining projects and investments in exploration companies. Its current interests include gold production in Turkey and copper-gold exploration and development projects in Cyprus

The Company holds 23.5% interest in Zenit Madencilik San. ve Tic. A.S. a joint venture with Ozaltin Holding A.S. and Proccea Construction Co. in Turkey which contains a depleted total of c. 2.1 million ounces of gold and other metals (as at July 2020). The joint venture comprises the Kiziltepe Mine and the Tavsan and Salinbas projects. 

The Kiziltepe Gold-Silver Mine is located in western Turkey and contains a depleted JORC Measured, Indicated and Inferred Resource of 227,000 ounces gold and 0.7 million ounces silver (as at April 2020). The mine has been in profitable production since 2017 and is expected to produce at a rate of c.20,000 ounces of gold per annum to at least the mid-2020s. A Net Smelter Return ("NSR") royalty of 2.5% on production is being paid to Franco-Nevada Corporation.

The Tavsan Gold Project is located in western Turkey and contains a JORC Measured, Indicated and Inferred Resource of 253,000 ounces gold and 3.7 million ounces silver (as at June 2020). The project is being progressed through permitting and an Environmental Impact Assessment, with the intention of developing the site to become the second joint venture gold mining operation. A NSR royalty of up to 2% on future production is payable to Sandstorm Gold. 

The Salinbas Gold Project is located in north-eastern Turkey and contains a JORC Measured, Indicated and Inferred Resource of 1.5 million ounces of gold (as at July 2020). It is located within the multi-million ounce Artvin Goldfield, which contains the "Hot Gold Corridor" comprising several significant gold-copper projects including the 4 million ounce Hot Maden project, which lies 16km to the south of Salinbas. A NSR royalty of up to 2% on future production is payable to Eldorado Gold Corporation.

Ariana is also earning-in to 50% of UK-registered Venus Minerals Ltd ("Venus") and has to date earned into an entitlement to 16%. Venus is focused on the exploration and development of copper-gold assets in Cyprus which contain a combined JORC Inferred Resource of 9.5Mt @ 0.65% copper (excluding additional gold, silver and zinc).

Panmure Gordon (UK) Limited is broker to the Company and Beaumont Cornish Limited is the Company's Nominated Adviser and Broker.

For further information on Ariana you are invited to visit the Company's website at www.arianaresources.com.

 

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