Director/PDMR Shareholding

RNS Number : 2532D

Ariana Resources PLC

27 October 2020

 

27 October 2020

AIM: AAU

Director/PDMR Shareholdings

Ariana Resources plc ("Ariana" or "the Company"), the exploration and development company operating in Turkey, announces that it has been informed of the following transactions:

-  on 23 October 2020, Michael de Villiers, Chairman, disposed of 500,858 ordinary shares in the Company ("Ordinary Shares") at 5.61p per share;

-  on the same date, Mr de Villiers purchased 425,000 Ordinary Shares in his SIPP at 5.86p per share;

-  and on the same date, Mrs de Villiers, wife of Mr de Villiers, purchased 75,000 Ordinary Shares in her SIPP at 5.86p per share.

Accordingly the holding of Mr de Villiers now stands at 55,799,142 Ordinary Shares in the Company, representing a holding of 5.25%.

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

Michael de Villiers

1	Details ofthe person discharging  managerial  responsibilities  /  person  closely associated
a)	Name	Michael de Villiers
2	Reason for notification
a)	Position / status	Chairman
b)	I nitial notification /Amendment	Initial
3	Detailsoftheissuer, emissionallowancemarketparticipant,auctionplatform, auctioneerorauctionmonitor
a)	Name	Ariana Resources plc
b)	LEI	213800LVVY7GZY21LH22
4	Detailsofthetransaction(s): sectiontoberepeatedfor(i)eachtypeofinstrument; (ii)eachtypeoftransaction;(iii)eachdate;and(iv)eachplace wheretransactions havebeenconducted
a)	Description  of  the financial instrument, type ofinstrument I d e ntification code	Ordinary shares of 0.1 pence each in Ariana Resources plc ISIN GB00B085SD50
	Nature of the transaction	Sale and purchase of ordinary shares
c)	Price(s) and volumes(s)	Price(s) - sale Volumes(s) 5.61 pence 500,858 Price(s) - purchase Volumes(s) 5.86 pence 425,000 5.86 pence 75,000
d)	Aggregated information	n/a
e)	Date of the transaction	23 October 2020
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: [phone]
Michael de Villiers, Chairman
Kerim Sener, Managing Director
Beaumont Cornish Limited	Tel: [phone]
Roland Cornish / Felicity Geidt
Panmure Gordon (UK) Limited	Tel: [phone]
Atholl Tweedie / James Stearns
Yellow Jersey PR Limited	Tel: [phone]
Dom Barretto / Joe Burgess / Henry Wilkinson	[e-mail]

Editors' Note

About Ariana Resources:

Ariana is an AIM-listed mineral exploration and development company operating in Europe.  It has interests in gold production in Turkey and copper-gold assets in Cyprus.  The Company is developing a portfolio of prospective licences in Turkey, which contain a total of 1.6 million ounces of gold and other metals (as at end-2017). 

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 Turkey, which hosts some of the largest operating gold mines in the country and remains highly prospective for new porphyry and epithermal deposits.  The Kiziltepe Sector of the Red Rabbit Project is fully permitted and is currently in production.  The total resource inventory at the Project and its wider area is c. 605,000 ounces of gold equivalent (as at end-2017).  At Kiziltepe a Net Smelter Return ("NSR") royalty of up to 2.5% on production is payable to Franco-Nevada Corporation. At Tavsan an NSR royalty of up to 2% on future production is payable to Sandstorm Gold.

The 100% owned Salinbas Gold Project is located in north-eastern Turkey and has a total resource inventory of c. 1 million ounces of gold equivalent.  The project comprises three notable licence areas: Salinbas, Ardala and Hizarliyayla, all of which are located within a multi-million ounce Artvin Goldfield.  The "Hot Gold Corridor" contains several significant gold-copper projects including the 4Moz Hot Maden project, which lies 16km to the south of Salinbas and 7km south of Hizarliyayla.  A NSR royalty of up to 2% on future production is payable to Eldorado Gold Corporation on the Salinbas Gold Project.

Ariana is also earning-in to 50% of UK-registered Venus Minerals Ltd ("Venus").  Venus is focused on the exploration and development of copper-gold assets in Cyprus.

Panmure Gordon (UK) Limited are broker 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 .

 

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