DIRECTOR/PDMR SHAREHOLDINGS

RNS Number : 6399B

Ariana Resources PLC

04 October 2022

 

4 October 2022

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 that Michael de Villiers, Chairman, has purchased ordinary shares in the Company ("Ordinary Shares") for his SIPP account as follows:

-  on 30 September 2022, 250,000 Ordinary Shares at 2.885 pence;

-  on 30 September 2022, 250,000 Ordinary Shares at 2.88 pence; and

-  on 3 October 2022, 500,000 Ordinary Shares at 3.20 pence.

Accordingly, the holding of Mr de Villiers is now 64,000,000 Ordinary Shares in the Company, representing a percentage holding of 5.59% of the Company's share capital.

The following information relating to the transaction has been filed with the FCA in accordance with the UK 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	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 I d e ntification code	Ordinary shares of 0.1 pence each in Ariana Resources plc ISIN GB00B085SD50
	Nature of the transactions	-  purchase into SIPP -  purchase into SIPP -  purchase into SIPP
c)	Price(s) and volumes(s)	Price(s) Volumes(s) 2.885 pence 2.88 pence 3.20 pence 250,000 250,000 500,000
d)	Aggregated information	n/a
e)	Date of the transaction	-  30 September 2022 -  30 September 2022 -  3 October 2022
f)	Place of the transaction	AIM

This announcement contains inside information for the purposes of the UK Market Abuse Regulation.

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]
John Prior / Hugh Rich / Atholl Tweedie
Yellow Jersey PR Limited	Tel: [phone]
Dominic Barretto / Henry Wilkinson / Laurie Gellhorn	[e-mail]

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 gold production in Turkey and copper-gold exploration and development projects in Cyprus and Kosovo. 

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 February 2022). 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 222,000 ounces gold and 3.8 million ounces silver (as at February 2022). 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 Mine is located in western Turkey and contains a JORC Measured, Indicated and Inferred Resource of 253,000 ounces gold and 0.7 million ounces silver (as at June 2020). Following the approval of its Environmental Impact Assessment and associated permitting, Tavsan is being developed as the second gold mining operation in Turkey. 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 owns 100% of Australia-registered Asgard Metals Fund ("Asgard"), as part of the Company's proprietary Project Catalyst Strategy. The Fund is focused on investments 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, Turkey and the UK.

Ariana owns 75% 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 Corporation ( www.newmont.com ).

Ariana owns 50% of UK-registered Venus Minerals Ltd ("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 17Mt @ 0.45% to 1.10% copper (excluding additional gold, silver and zinc), in addition to pursuing a separate 50:50 JV on Hellenic Apliki Mines, which owns the Hellenic SX-EW processing plant and the 17Mt @ 0.26% to 0.69% Cu Apliki mine development project. 

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 .

Ends.

 

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