
Ariana Resources plc is an AIM-listed and PLUS-traded gold exploration and development company. Ariana's advanced projects are located in western Turkey. Production is currently scheduled to start in 2012 on the Red Rabbit Gold Project. Ongoing exploration is fulfilled through our own work in western Turkey, via joint venture (European Goldfields) and strategic investment (Tigris Resources). Ariana is spearheaded by an experienced management team, which aims to discover and develop new gold mines.
On 1st February Ariana Resources (AIM:AAU) update the market on current exploration activity at its Red Rabbit Gold Project in western Turkey, including news of the confirmation of the presence of new vein systems. We took this opportunity to put some investor focused questions to Managing Director Kerim Sener:
Special Report October 2011
It was Socrates who said “the first key to greatness is to be in reality what we appear to be”; suggesting that even in his day, over promising and under delivering remained a common issue.
Fast forward 2,400 years to the age of the internet, with its extremely efficient online forums, where news travels fast and investors can be quick to identify when a company’s performance fails to match their publicised intentions or goals. As such, living up to investor’s expectation isn’t easy and pragmatism is often a lesson hard learned.
So we are delighted to see one of our earliest investments, Ariana Resources, continuing to deliver against their stated objectives, with just the kind of dedication and diligence that underpins our belief that in the end, value will always out!
Edison Investment Research published an update on Ariana Resources (LON:AAU) on 11th April which takes into consideration some recent developments, notably the agreement to purchase certain Turkish licenses from Kefi Minerals and the release of a revised JORC compliant scoping study report on the Kiziltepe project.
Managing Director Kerim Sener is in London this week and Ariana will be exhibiting at the Master Investor Show this Saturday. We caught up with him yesterday to discuss these recent developments and also to see how things are progressing on the ground in Turkey. You can listen to the exclusive podcast interview, which we trust investors will find of interest. Of particular note to us was Kerim’s elaboration on the significance of their silver grades and the upside this will offer in production terms. We hope you enjoy listening:
If you are going to the Master Investor Show this Saturday, be sure to drop in to see Ariana on stand 35. Kerim will personally be available for most of the day until the early afternoon and is looking forward to meeting investors - and potential investors!
Ariana Resources announced on 16th March that it had signed Heads of Agreement with fellow explorer KEFI Minerals (LON:KEFI) for the acquisition of four key exploration properties in western Turkey.
The deal certainly seems to make sense for both parties. KEFI’s exploration focus having now moved away from Turkey and on to Saudi Arabia; so these licenses look to provide a nice “bolt on” for Ariana who, through its joint venture with Proccea, have all the required attributes to exploit their potential.
Ariana Resources (LON:AAU) reported to the market today details of its latest resource upgrade with the news that it has increased the Kiziltepe JORC resource by 25 percent, with a significant 60% increase in the Measured and Indicated component.
This new resource model will form the basis for the formal Bankable Feasibility Study which is about to be undertaken by their newly formed JV Company Zenith Mining. We took the opportunity to speak to Ariana's Managing Director Kerim Sener and asked him a to expand on the significance of todays news. Here's what he had to say:
On 2nd August Ariana Resources (LON:AAU) reported positive resultsfrom the 26 most recent drill holes from the Banyu and Derya veins at Kiziltepe. With mineralisation encountered in every hole and peak gold equivalent grades at 23.12 gpt.
In a recent Q&A session with MiningMaven, commenting on the successful completion of the joint venture with Proccea, Ariana Resources (LON:AAU) Managing Director, Kerim Sener pointed out quite vociferously that the Company's mantra is to set realistic goals and to deliver without fail.
Today Ariana Resources (LON:AAU) released the long awaited news that its joint venture agreement with Proccea Construction Co has been completed and that the transition from "Gold Explorer" to "Gold Producer" is now formally underway (click here to view). This is certainly exciting news, and something Investors have been eagerly anticipating.
A quick note for those following the Ariana Resources (AIM:AAU) story; you will probably want to read the the maiden research note published today by Edison Investment Research, now available on the Company Website (click here to view).
Whilst Ariana Resources (AIM:AAU) stand on the cusp of sealing their milestone Joint Venture agreement with construction and engineering conglomerate Proccea International Construction, investor attention is now starting to ponder on how the market will view (and value!) the transformed Company going forward.
This morning, Ariana announced geophysical test results from their Kisiltepe project in Turkey (click here to view). We took the opportunity to put a few quick questions to MD Kerim Sener. Here's what he had to say:
The Chesterfield Hotel in Mayfair was the setting for Ariana Resources (LON:AAU) latest investor presentation last Wednesday evening. Hosted by Proactive Investors, Ariana shared the billing with Western Potash (TSX.V:WPX) who have a “solution” mining project in Regina Canada and Resource Generation (ASX:RES), who are developing a coal mine in South Africa.
After our last chat with Managing Director Kerim Sener at the beginning of the month, he certainly seemed confident that things were progressing well on all fronts. So most Ariana shareholders were no doubt expecting the next news coming out from the Company would be the JV sign off by the end of Q1 – still 6 weeks away.
You certainly wouldn’t know it by looking at the share price, but Ariana Resources is gearing up for the next leg of its publicity road show!
At the beginning of January we presented a value proposition for Ariana Resources, the Turkish gold developer which has its sights on near term production through a 50/50 joint venture with Proccea a major Turkish engineering and construction firm.
For some, running a Gold Exploration Company may be easier than for others. However running a gold exploration company that has any chance of success is quite a different matter.
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