Ariana Resources (AAU)

Sector:

Mining

Index:

FTSE AIM All-Share

3.30p
   
  • Change Today:
      0.050p
  • 52 Week High: 4.75
  • 52 Week Low: 2.60
  • Currency: UK Pounds
  • Shares Issued: 1,146.36m
  • Volume: 596,262
  • Market Cap: £37.83m
  • RiskGrade: 232

Ariana reports progress at Tavsan gold and silver mine

By Josh White

Date: Wednesday 06 Apr 2022

LONDON (ShareCast) - (Sharecast News) - Exploration and development company Ariana Resources updated the market on the mine development programme underway at Tavsan on Wednesday.
The AIM-traded firm said the project is operated by Zenit, in partnership with Proccea Construction and Ozaltin Holding, and is 23.5% owned by Ariana.

It said the gold and silver mine was targeting production of up to 30,000 ounces of gold per annum over eight years.

More than 3,900 metres of resource drilling had been completed at Tavsan between December and March, while the land acquisition and access process was now complete, with forestry permit applications remaining in process.

Discussions regarding debt financing of the required construction capital were continuing between Zenit and potential lenders.

Ariana said it would be conducting a new mapping and exploration programme across Tavsan in the next few months, aiming to identify new zones of mineralisation.

"The Tavsan mine development programme is advancing at pace, and activities across the project are ramping up significantly as the project progresses towards construction," said managing director Kerim Sener.

"The latest Tavsan drilling programme experienced some delays due to exceptionally bad weather conditions and the decision to increase the scope of the programme as it proceeded.

"As a result, Zenit has now completed almost double the drilling metres that had been planned previously and successfully brought the programme to a close."

Dr Sener said assays from the 100-hole programme were now being awaited, following which a revised resource and reserve estimate would be published as part of the feasibility study.

"All geotechnical drilling required for the finalisation of the study has been completed, which is being revised with improved and updated operating and capital cost estimates.

"Essential freehold land acquisitions have also been concluded recently, allowing for the construction of mine infrastructure."

Following the environmental impact assessment, Dr Sener said the necessary forestry permit applications were submitted and were under review with the government.

"Mine construction is expected to commence during the second quarter of 2022, once the required permits are finalised and bank finance has been approved."

At 1113 BST, shares in Ariana Resources were up 2.95% at 4.02p.

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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 3.30p
Change Today 0.050p
% Change 1.54 %
52 Week High 4.75
52 Week Low 2.60
Volume 596,262
Shares Issued 1,146.36m
Market Cap £37.83m
RiskGrade 232

AAU Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
98.01% above the market average98.01% above the market average98.01% above the market average98.01% above the market average98.01% above the market average
95.42% above the sector average95.42% above the sector average95.42% above the sector average95.42% above the sector average95.42% above the sector average
Price Trend
10.25% below the market average10.25% below the market average10.25% below the market average10.25% below the market average10.25% below the market average
13.89% above the sector average13.89% above the sector average13.89% above the sector average13.89% above the sector average13.89% above the sector average
Income
64.07% above the market average64.07% above the market average64.07% above the market average64.07% above the market average64.07% above the market average
46.15% above the sector average46.15% above the sector average46.15% above the sector average46.15% above the sector average46.15% above the sector average
Growth
14.57% below the market average14.57% below the market average14.57% below the market average14.57% below the market average14.57% below the market average
52.24% below the sector average52.24% below the sector average52.24% below the sector average52.24% below the sector average52.24% 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

Trades for 30-Jan-2023

Time Volume / Share Price
16:26 1,000 @ 3.20p
16:26 100,000 @ 3.28p
16:25 3,000 @ 3.38p
16:04 91,687 @ 3.27p
15:56 43,895 @ 3.39p

AAU Key Personnel

Chair Michael de Villiers

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