Business
2020 PRODUCTION GUIDANCE
2020 PRODUCTION GUIDANCE.
About this update from Ariana Resources Plc
[{"type":"text","content":"\n \n \n RNS Number : 7014G\n Ariana Resources PLC\n 19 March 2020\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 19 March 2020\n \n \n AIM: AAU\n \n \n \n \n \n 2020 PRODUCTION GUIDANCE\n \n \n \n \n \n Ariana Resources plc (\"Ariana\" or \"the Company\"), the AIM-listed exploration and development company operating in Europe, is pleased to announce its production guidance for 2020 for the Kiziltepe Mine (\"Kiziltepe\" or \"the Project\"). Kiziltepe is part of the Red Rabbit Joint Venture (\"JV\") with Proccea Construction Co. and is 50% owned by Ariana through its shareholding in Zenit Madencilik San. ve Tic. A.S. (\"Zenit\").\n \n \n \n \n \n Highlights:\n \n \n \n \n \n · \n Gold production guidance for 2020 from Kiziltepe is c. 18,000 oz Au*, c. 30% above feasibility plan for this stage of the operational mine life.\n \n \n \n \n \n · \n The mine plan forecasts average monthly production of approximately 20,000 tonnes of ore, peaking during Q2 2020. \n \n \n \n \n \n · \n Ore throughput to the mill during 2020 is expected to be c. 205,000 tonnes, which represents a 37% increase over the feasibility plan.\n \n \n \n \n \n · \n Average grade of gold to be mined during the year is expected to be c. 2.5 g/t Au and gold recovery is expected to exceed 90%. \n \n \n \n \n \n · \n Open-pit mining will be completed at the Arzu South pit by Q3 2020, and mining transitioned completely to the Arzu North and Derya areas.\n \n \n \n \n \n Dr. Kerim Sener, Managing Director, commented:\n \n \n \n \n \n \"Our production guidance for 2020 follows a record-breaking quarterly operational update announced on 21 February 2020. During Q1 2020, the mine has continued to perform very well, with production now simultaneously occurring between both the Arzu South and Arzu North open pits. With the addition of lower grade ore and higher mining rates required from the satellite pits, such as Arzu North, we are expecting output to reach 18,000 oz in 2020. Importantly, this is a substantial increase over our feasibility forecasts for this stage of the operation. \n \n \n \n \n \n \"At the end of this month, repayments of the US$33 million JV capital loan to Turkiye Finans Katilim Bankasi A.S. will reach...