Ariana Resources (AAU)

Sector:

Mining

Index:

FTSE AIM All-Share

 2.25p
   
  • Change Today:
      0.000p
  • 52 Week High: 3.10
  • 52 Week Low: 1.63
  • Currency: UK Pounds
  • Shares Issued: 1,146.36m
  • Volume: 548,397
  • Market Cap: £25.79m
  • RiskGrade: 232

Ariana gets approval for expanded joint venture in Turkey

By Josh White

Date: Tuesday 19 Jan 2021

LONDON (ShareCast) - (Sharecast News) - Exploration and development company Ariana Resources has received formal approval from the Competition Authority in Turkey for the completion of its joint venture agreements with Özaltin and Proccea Construction, it announced on Tuesday.
The AIM-traded firm said the approval represented the final regulatory condition for the conclusion of the expanded joint venture.

It said the expanded joint venture with Özaltin and Proccea involved the partial disposal of its interests in Turkey in exchange for up to $37.75m in cash before costs and tax.

Ariana and Proccea would retain a 23.5% interest each in the expanded joint venture.

"We are very pleased to have received this approval from the Competition Authority and welcome their support of this transaction," said managing director Dr Kerim Sener.

"This approval marks the last significant condition precedent for the conclusion of the expanded joint venture.

"We are now working with Özaltin and Proccea to finalise the transaction, so that we can commence activities across our projects within the framework of our new joint venture."

Dr Sener said the company was already "well underway" with a new drilling programme at Kiziltepe, testing extensions to known vein systems along strike and at depth.

"This programme is being undertaken with the aim of increasing the project's resources and reserves, in parallel with the expansion plans for the processing facilities at Kiziltepe.

"These are exciting times for the company, providing us with a large degree of optionality across our portfolio, which we look forward to further de-risking and crystallising value from in the future."

At 1504 GMT, shares in Ariana Resources were down 3.53% at 4.92p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

AAU Market Data

Currency UK Pounds
Share Price 2.25p
Change Today 0.000p
% Change 0.00 %
52 Week High 3.10
52 Week Low 1.63
Volume 548,397
Shares Issued 1,146.36m
Market Cap £25.79m
RiskGrade 232

AAU Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
56.90% above the market average56.90% above the market average56.90% above the market average56.90% above the market average56.90% above the market average
41.98% below the sector average41.98% below the sector average41.98% below the sector average41.98% below the sector average41.98% below the sector average
Price Trend
54.17% below the market average54.17% below the market average54.17% below the market average54.17% below the market average54.17% below the market average
10.49% above the sector average10.49% above the sector average10.49% above the sector average10.49% above the sector average10.49% above the sector average
Income Not Available
Growth
66.95% below the market average66.95% below the market average66.95% below the market average66.95% below the market average66.95% below the market average
53.12% below the sector average53.12% below the sector average53.12% below the sector average53.12% below the sector average53.12% below the sector average

What The Brokers Say

Strong Buy 0
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 1
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

AAU Dividends

  Latest Previous
  Special Special
Ex-Div 18-Aug-22 03-Mar-22
Paid 03-Oct-22 25-Mar-22
Amount 0.17p 0.17p

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15:12 44,118 @ 2.16p

AAU Key Personnel

Chair Michael de Villiers

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