Replacement: Purchase of Own Shares

RNS Number : 2941N

Ariana Resources PLC

16 January 2019

 

The announcement replaces the announcement "Purchase of Own Shares" made earlier this morning at 07.00.  That announcement stated incorrectly that the number of ordinary shares in issue (including treasury shares) at the close of business on 15 January 2019 was 1,051,637,937.  The correct number is 1,059,677,943 as set out below.  All other text remains the same.  

16 January 2019

AIM: AAU

("Ariana" or "the Company")

Purchase of Own Shares

Pursuant to the general authority given to the Company, Ariana, the exploration and development company with gold mining operations in Turkey, announces that, on 4 January 2019, it purchased a total of 4,500,000 ordinary shares of 0.1 pence in the Company ("Ordinary Shares") at 1.483 pence per share (the "Purchase").  The Ordinary Shares will be held in Treasury.

The highest and the lowest price paid was 1.483 pence per Ordinary Share.

This represents 0.43 percent of the issued share capital of the Company (excluding treasury shares).

Following the purchase, the total number of ordinary shares held as treasury shares is 4,500,000.

As at the close of business on 15 January 2019, the Company had 1,059,677,943 ordinary shares (including treasury shares) in issue.

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]
Charles Lesser / James Stearns
Yellow Jersey PR Limited	Tel: [phone]
Tim Thompson / Harriet Jackson / Henry Wilkinson	[e-mail]

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

Editors' Note

About Ariana Resources:

Ariana is an exploration and development company with mining operations focused on epithermal gold-silver and porphyry copper-gold deposits in Turkey, the largest gold producing country in Europe.  The Company is developing a portfolio of prospective licences originally selected on the basis of its in-house geological and remote-sensing database, which now contain a total of 1.6 million ounces of gold and other metals.  Ariana's objective is to cost-effectively add value to its projects through focused exploration and to develop its operations, primarily through well-financed joint ventures. 

The Company's flagship assets are its Kiziltepe and Tavsan gold projects which form the Red Rabbit Gold Project.  Both contain a series of prospects, within two prolific mineralised districts in the Western Anatolian Volcanic and Extensional (WAVE) Province in western Turkey.  This Province hosts the largest operating gold mines in Turkey and remains highly prospective for new porphyry and epithermal deposits.  These core projects, which are separated by a distance of 75km, form part of a 50:50 Joint Venture with Proccea Construction Co.  The Kiziltepe Sector of the Red Rabbit Project is fully-permitted and is currently in production.  The total resource inventory at the Red Rabbit Project and wider project area stands at c. 605,000 ounces of gold equivalent.  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.

In north-eastern Turkey, Ariana owns 100% of the Salinbas Gold Project, comprising the Salinbas gold-silver deposit and the Ardala copper-gold-molybdenum porphyry among other prospects.  The total resource inventory of the Salinbas project area is c. 1 million ounces of gold equivalent.  A NSR royalty of up to 2% on future production is payable to Eldorado Gold Corporation.

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.

 

END

 

 

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