Ariana starts onstruction of Kiziltepe gold mine

CONSTRUCTION COMMENCES AT KIZILTEPE

Ariana Resources, the Anglo-Turkish gold exploration and development company focused on Turkey, has announced that mine construction has commenced at the Kiziltepe Sector of the Red Rabbit Gold Project in western Turkey, which is being developed in partnership with Proccea Construction Co., to deliver its first gold pour in H2 2016.

– Forestry Department currently clearing land within the permitted areas of the mine site and freehold land acquisitions essentially completed.
– Final negotiations on major Turkish supplied plant components are complete and long lead orders have been placed.
– Mining contractor has been assigned and is currently expected to commence site-works in October 2015.
– Installation of the perimeter security fence for the mine site is underway and four prefabricated buildings are now complete and awaiting delivery to site.
– Ariana drill-rig mobilised this week to commence drilling at the foundation site of the process plant.

Dr. Kerim Sener, Managing Director, commented:

“We are exceptionally pleased to report that the construction phase of the 20,000 ounce per annum Kiziltepe Gold Mine has now commenced. Our partners, Proccea, are working diligently and swiftly through the mine construction schedule. Meanwhile our exploration team is preparing for a resource development trenching and drilling programme, which we are currently expecting to commence in October 2015. This is an exciting time for the Company and recent developments have highlighted the value of our business model: promoting project development partnerships cored by focused and cost-efficient exploration.

“We look forward to providing further guidance on construction progress and the timeline to first gold-pour in due course. We are currently expecting first production to commence in H2 2016.”

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Ltd. ADVFN Ltd does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

WHAT IS ADVFN?

ADVFN covers all things stock market.

From the news and opinion pieces on pages like this to share discussion forums, charting tools, financials, live share prices and Level 2, order book data

If you trade or invest ADVFN has the tools you need to make the right decisions.

• 

  101 Ways to Pick Stock Market Winners

  You need the number one bestselling investment guide, the definitive text for day traders, investors and stock pickers.

• 

  The Death of Wealth

  Dissecting the global economy and the financial markets, the book lays out the evidence for the next economic game changer: the Death of Wealth.

• 

  Neil Woodfine

• 

  Graham Neary

• 

  Robbie Burns

• 

  Tom Spiller OBE