t
| Date | 20 Oct 2022 |
| Time | 11:01:02 |
| Category | Director/PDMR dealings |
| ID | 5643D |
20 October 2022
AIM: AAU
Director/PDMR Shareholdings
Ariana Resources plc ("Ariana" or "the Company"), the AIM-listed exploration and development company with gold mining interests in Europe, announces that it has today been informed of the following:
- Dr Kerim Sener, Managing Director, on 19 October 2022 purchased 325,000 Ordinary Shares into his SIPP at 2.96 pence per share.
Accordingly, the holding of Dr Sener is now 21,523,526 Ordinary Shares in the Company, representing a percentage holding of 1.88% of the Company's issued share capital.
The following information relating to the transaction has been filed with the FCA in accordance with the UK Market Abuse Regulation
Kerim Sener
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1 |
Details of the person discharging managerial responsibilities / person closely associated |
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a) |
Name |
Kerim Sener |
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2 |
Reason for notification |
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a) |
Position / status |
Managing Director
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b) |
Initial notification /Amendment |
Initial |
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3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
Ariana Resources plc
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b) |
LEI |
213800LVVY7GZY21LH22 |
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4 |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
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a) |
Description of the financial instrument, type of instrument
Identification code |
Ordinary shares of 0.1 pence each in Ariana Resources plc
ISIN GB00B085SD50
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Nature of the transactions |
- purchase into SIPP |
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c) |
Price(s) and volumes(s) |
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d) |
Aggregated information |
n/a |
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e) |
Date of the transaction |
- 19 October 2022
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f) |
Place of the transaction |
London Stock Exchange, AIM (XLON) |
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This announcement contains inside information for the purposes of the UK Market Abuse Regulation.
Contacts:
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Ariana Resources plc |
Tel: +44 (0) 20 3476 2080 |
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Michael de Villiers, Chairman |
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Kerim Sener, Managing Director |
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Beaumont Cornish Limited |
Tel: +44 (0) 20 7628 3396 |
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Roland Cornish / Felicity Geidt |
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Panmure Gordon (UK) Limited |
Tel: +44 (0) 20 7886 2500 |
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John Prior/Hugh Rich/Atholl Tweedie |
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Yellow Jersey PR Limited |
Tel: +44 (0) 20 3004 9512 |
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Dom Barretto /Henry Wilkinson/Laurie Gellhorn |
Editors' Note:
About Ariana Resources:
Ariana is an AIM-listed mineral exploration and development company with an exceptional track-record of creating value for its shareholders through its interests in active mining projects and investments in exploration companies. Its current interests include gold production in Turkey and copper-gold exploration and development projects in Cyprus and Kosovo.
The Company holds 23.5% interest in Zenit Madencilik San. ve Tic. A.S. a joint venture with Ozaltin Holding A.S. and Proccea Construction Co. in Turkey which contains a depleted total of c. 2.1 million ounces of gold and other metals (as at February 2022). The joint venture comprises the Kiziltepe Mine and the Tavsan and Salinbas projects.
The Kiziltepe Gold-Silver Mine is located in western Turkey and contains a depleted JORC Measured, Indicated and Inferred Resource of 222,000 ounces gold and 3.8 million ounces silver (as at February 2022). The mine has been in profitable production since 2017 and is expected to produce at a rate of c.20,000 ounces of gold per annum to at least the mid-2020s. A Net Smelter Return ("NSR") royalty of 2.5% on production is being paid to Franco-Nevada Corporation.
The Tavsan Gold Mine is located in western Turkey and contains a JORC Measured, Indicated and Inferred Resource of 253,000 ounces gold and 0.7 million ounces silver (as at June 2020). Following the approval of its Environmental Impact Assessment and associated permitting, Tavsan is being developed as the second gold mining operation in Turkey. A NSR royalty of up to 2% on future production is payable to Sandstorm Gold.
The Salinbas Gold Project is located in north-eastern Turkey and contains a JORC Measured, Indicated and Inferred Resource of 1.5 million ounces of gold (as at July 2020). It is located within the multi-million ounce Artvin Goldfield, which contains the "Hot Gold Corridor" comprising several significant gold-copper projects including the 4 million ounce Hot Maden project, which lies 16km to the south of Salinbas. A NSR royalty of up to 2% on future production is payable to Eldorado Gold Corporation.
Ariana owns 100% of Australia-registered Asgard Metals Fund ("Asgard"), as part of the Company's proprietary Project Catalyst Strategy. The Fund is focused on investments in high-value potential, discovery-stage mineral exploration companies located across the Eastern Hemisphere and within easy reach of Ariana's operational hubs in Australia, Turkey and the UK.
Ariana owns 75% of UK-registered Western Tethyan Resources Ltd ("WTR"), which operates across south-eastern Europe and is based in Pristina, Republic of Kosovo. The company is targeting its exploration on major copper-gold deposits across the porphyry-epithermal transition. WTR is being funded through a five-year Alliance Agreement with Newmont Corporation (www.newmont.com).
Ariana owns 50% of UK-registered Venus Minerals Ltd ("Venus") which is focused on the exploration and development of copper-gold assets in Cyprus which contain a combined JORC Indicated and Inferred Resource of 17Mt @ 0.45% to 1.10% copper (excluding additional gold, silver and zinc), in addition to pursuing a separate 50:50 JV on Hellenic Apliki Mines, which owns the Hellenic SX-EW processing plant and the 17Mt @ 0.26% to 0.69% Cu Apliki mine development project.
Panmure Gordon (UK) Limited is broker to the Company and Beaumont Cornish Limited is the Company's Nominated Adviser and Broker.
For further information on Ariana you are invited to visit the Company's website at www.arianaresources.com.
Ends.