logo-loader
MiningGold & silver
viewAriana Resources PLC

Ariana Resources set to receive £3.79mln in capital from Turkish subsidiary

The Red Rabbit mine is now building up a track record of production

1549960570_shutterstock_130697096.jpg
The money will be used to step up work on the wider Turkish project portfolio

Ariana Resources PLC (LON:AAU) is set to receive £3.79mln from its Turkish subsidiary Galata, following the repayment of loans made to the jointly owned operator of its Turkish gold mine, Zenit.

The capital reduction has been undertaken because the flow of funds from Zenit, derived from revenue from the Kiziltepe gold mine, will exceed the working capital requirements of Galata in the future, enabling the direct return of funds to Ariana. 

WATCH: Ariana Resources' Kerim Sener updates on bulk sampling at Kizilcukur

These funds will be used by Ariana for exploration and development of the project portfolio, including on the Salinbas project, and for general working capital. 

 

 

Quick facts: Ariana Resources PLC

Price: 1.9 GBX

AIM:AAU
Market: AIM
Market Cap: £20.13 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Ariana Resources PLC named herein, including the promotion by the Company of Ariana Resources PLC in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Mining Capital turnout 'a good cross-section of industry sentiment'

Alastair Ford looks back on this week's Proactive Investors Mining Capital conference in London. ''The room was full throughout the morning, standing room only at some points throughout the day and a huge amount of interest in the networking room during the breaks''. ''It was...

on 05/04/2018

RNS

ROYALTY AND DATABASE ACQUISITION

15 hours, 2 minutes ago

SALINBAS GOLD PROJECT UPDATE

1 day, 15 hours ago

SHAREHOLDER CALL

2 weeks, 1 day ago

INTERIM RESULTS

2 weeks, 2 days ago

TAVSAN PROJECT UPDATE

on 09/09/2019

2 min read