RCS - Ariana Resources PLC - Conference Attendance: Africa Down Under

Ariana ResourcesAnnouncement

27/08/2024 07:00

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RNS Number : 6874B  Ariana Resources PLC  27 August 2024

 

 

 

RNS Reach

27 August 2024

AIM: AAU

CONFERENCE ATTENDANCE: AFRICA DOWN UNDER IN PERTH

Ariana Resources plc ("Ariana" or "the Company"), the AIM-listed mineral
exploration and development company with gold project interests in Africa and
Europe, is pleased to announce that it will be attending the Africa Down Under
("ADU") Conference in Perth, Western Australia on 4 - 6 September 2024.

ADU is a leading forum for Australian-African business and government
relations and raises awareness for Australian interests in African mining and
energy. The Ariana team will be discussing the development of the Company's
Dokwe Gold Project in Zimbabwe at booth number 5.

Ariana is looking forward to meeting with key stakeholders and investors
during the conference.

To register and find out more details about the event, please click here:
https://www.africadownunderconference.com/registration/
(https://www.africadownunderconference.com/registration/)

 

Contacts:

 

 Ariana Resources plc                           Tel: +44 (0) 20 7407 3616
 Michael de Villiers, Chairman
 Kerim Sener, Managing Director
 Beaumont Cornish Limited (Nominated Adviser)   Tel: +44 (0) 20 7628 3396
 Roland Cornish / Felicity Geidt
 Panmure Liberum (Joint Broker)                 Tel: +44 (0) 20 7886 2500
 Kieron Hodgson / Atholl Tweedie / Rauf Munir
 Zeus Capital Limited (Joint Broker)            Tel: +44 (0) 203 829 5000

 Harry Ansell / Katy Mitchell / George Krokos

 Yellow Jersey PR Limited (Financial PR)        Tel: +44 (0) 7983 521 488
 Dom Barretto / Shivantha Thambirajah /         arianaresources@yellowjerseypr.com (mailto:arianaresources@yellowjerseypr.com)

Bessie Elliot

 

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated
Adviser and is authorised and regulated by the FCA. Beaumont Cornish's
responsibilities as the Company's Nominated Adviser, including a
responsibility to advise and guide the Company on its responsibilities under
the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed
solely to the London Stock Exchange. Beaumont Cornish is not acting for and
will not be responsible to any other persons for providing protections
afforded to customers of Beaumont Cornish nor for advising them in relation to
the proposed arrangements described in this announcement or any matter
referred to in it.

 

Editors' Note:

 

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 a major gold development project in Zimbabwe,
gold production in Türkiye and copper-gold exploration and development
projects in Cyprus and Kosovo.

 

Ariana owns 100% of the Dokwe Gold Project ("Dokwe") in Zimbabwe. Dokwe is
made up of the Dokwe North and Dokwe Central gold deposits which are located
in the Tsholotsho District near the city of Bulawayo. The deposits have a
combined JORC Measured, Indicated and Inferred Resource of over 1.83 million
ounces of gold (as at June 2024) and the project represents the largest
undeveloped gold project in Zimbabwe.

 

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
Türkiye which contains a depleted total of c. 2.2 million ounces gold
equivalent (as at March 2024, using a price ratio of 90 Ag to 1 Au). The joint
venture comprises the Kiziltepe Mine and the Tavsan and Salinbas projects.

 

The Kiziltepe Gold-Silver Mine is located in western Türkiye and contains a
depleted JORC Measured, Indicated and Inferred Resource of 171,700 ounces gold
and 3.3 million ounces silver (as at March 2024). The mine has been in
profitable production since 2017 and has been producing at an average rate of
c.22,000 ounces of gold per annum. A Net Smelter Return ("NSR") royalty of
2.5% on production is being paid to Franco-Nevada Corporation.

 

The Tavsan Gold Mine is located in western Türkiye and contains a JORC
Measured, Indicated and Inferred Resource of 311,000 ounces gold and 1.1
million ounces silver (as at March 2024). Following the approval of its
Environmental Impact Assessment and associated permitting, Tavsan is being
developed as the second gold mining operation in Türkiye and is currently in
construction. A NSR royalty of up to 2% on future production is payable to
Sandstorm Gold.

 

The Salinbas Gold Project is located in north-eastern Türkiye 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 owns 76% of UK-registered Western Tethyan Resources Ltd ("WTR"),
which operates across south-eastern Europe and is based in Pristina, Republic
of Kosovo. The company is targeting its exploration on major copper-gold
deposits across the porphyry-epithermal transition. WTR is being funded
through a five-year Alliance Agreement with Newmont Mining Corporation
(www.newmont.com) and is separately earning-in to up to 85% of the Slivova
Gold Project.

 

Ariana owns 61% of UK-registered Venus Minerals PLC ("Venus") which is
focused on the exploration and development of copper-gold assets in Cyprus
which contain a combined JORC Indicated and Inferred Resource of 16.6Mt @
0.45% to 0.80% copper (excluding additional gold, silver and zinc.

 

Ariana owns several investments in listed and private companies via its
Australian subsidiary Asgard Metals Pty. Ltd. ("Asgard"), which also provides
technical input into the various investee company exploration programmes.
Investments have been made in high-value potential, discovery-stage mineral
exploration companies located across the Eastern Hemisphere and within easy
reach of Ariana's operational hubs in Australia, Türkiye, UK and Zimbabwe.
Its most advanced interest is through a 5.5% holding of Panther Metals Limited
(ASX: PNT).

 

Panmure Liberum Limited and Zeus Capital Limited are brokers to the Company
and Beaumont Cornish Limited is the Company's Nominated Adviser.

 

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

 

Glossary of Technical Terms:

 

"Au" chemical symbol for gold;

 

"Cu" chemical symbol for copper;

 

"ICP-MS" inductively coupled plasma mass spectrometry;

 

"IP" induced polarisation electrical geophysical technique;

 

"m" metres;

 

"Mo" chemical symbol for molybdenum;

 

"nT" unit of magnetic flux density representing a billionth of a Tesla;

 

"ppm" parts per million;

 

"pXRF" portable X-ray fluorescence;

 

Ends.

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