Ariana Resources PLC - COMPETITION AUTHORITY APPROVAL
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COMPETITION AUTHORITY APPROVAL
Ariana Resources plc ("Ariana" or "the Company"), the AIM-listed exploration and development company operating in
· Approval received from the Competition Authority, representing the final regulatory condition precedent for the conclusion of the expanded Joint Venture.
· Expanded Joint Venture with Özaltin and Proccea involves the partial disposal of the Company's interests in
· Ariana and Proccea to retain a 23.5% interest each in the expanded Joint Venture.
"We are very pleased to have received this approval from the Competition Authority and welcome their support of this Transaction. This approval marks the last significant condition precedent for the conclusion of the expanded Joint Venture. We are now working with Özaltin and Proccea to finalise the Transaction, so that we can commence activities across our projects within the framework of our new JV.
"We are already well underway with a new drilling programme at Kiziltepe, testing extensions to known vein systems along strike and at depth. This programme is being undertaken with the aim of increasing the project's resources and reserves, in parallel with the expansion plans for the processing facilities at Kiziltepe.
"These are exciting times for the Company, providing us with a large degree of optionality across our portfolio, which we look forward to further de-risking and crystallising value from in the future."
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
Ariana Resources plc
Tel: +44 (0) 20 7407 3616
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Beaumont Cornish Limited
Tel: +44 (0) 20 7628 3396
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Panmure Gordon (UK) Limited
Tel: +44 (0) 20 7886 2500
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Yellow Jersey PR Limited
Tel: +44 (0) 7951 402 336
About Ariana Resources (details as current and before completion of the JV):
Ariana is an AIM-listed mineral exploration and development company operating in
The Red Rabbit Project is comprised of the Company's flagship assets, the Kiziltepe and Tavsan gold projects, and is part of a 50:50 Joint Venture with Proccea Construction Co. Both assets are located in western
The 100% owned Salinbas Gold Project is located in north-eastern
Ariana is also earning-in to 50% of UK-registered Venus Minerals Ltd ("Venus") and has to date earned into an entitlement to 12%. Venus is focused on the exploration and development of copper-gold assets in
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.
Quick facts: Ariana Resources PLC
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