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Ariana sets 2019 production guidance at 25,000 ounces of gold

Ariana sets 2019 production guidance at 25,000 ounces of gold

March 13, 2019


Ariana Resources PLC (LON:AAU) is guiding for gold production from the Kiziltepe mine in Turkey to come in at 25,000 ounces this year.Kiziltepe is part of the Red Rabbit joint venture with Proccea Construction and is 50% owned by Ariana.The guidance represents a 21% boost on what was originally envisaged in the feasibility study for the third year of operations.The average grade of gold is expected to be around five grams per tonne, and recovery is expected to exceed 90%.


"Advancing on the Company's positive finish to 2018, the Kiziltepe mine continued to perform exceptionally well, despite a very wet winter period during Q4 2018 and into Q1 2019, and we look forward to building on this strong operational track-record,” said managing director Dr Kerim Sener.“Although ore output from Arzu South will be variable through the year due to the pushbacks required to accommodate the final stage of mining, current stockpiles are expected to provide for any shortfalls in output such that mill throughput can be maintained at the highest levels through the year.”


Source: https://www.proactiveinvestors.co.uk/