Business
Final Results
Final Results.
About this update from Ariana Resources Plc
[{"type":"text","content":"\n \nRNS Number : 9963G Ariana Resources PLC 02 June 2017 \n \n\n \n \n \n \n \n2 June 2017\nAIM: AAU\n \nFINAL AUDITED RESULTS FOR THE YEAR 31 DECEMBER 2016\n \nNOTICE OF ANNUAL GENERAL MEETING (\"AGM\")\n \nAriana Resources plc (\"Ariana\" or \"the Company\"), the exploration and development company operating in Turkey, announces its final audited results for the year ended 31 December 2016. \n \nThe Report and Accounts will be posted to shareholders as applicable, and are available on the Company's website www.arianaresources.com, together with the Notice of AGM, and extracts are set out below.\n \nThe AGM will be held at the East India Club, 16 St James's Square, London SW1Y 4LH on 30 June 2017 at 11.00 am.\nChairman's Statement\n \nThis has been a landmark year for your Company with the successful completion of construction at the Kiziltepe Mine and our first gold pour in March 2017. This achievement is the result of the unwavering commitment of the Ariana team and our partners Proccea Construction Co. (\"Proccea\"), together with the support given by the local community and the Turkish Government. I would also like to acknowledge the steadfast commitment of our long-term shareholders, who have supported us as we strived to deliver our vision.\n \nWhilst our primary focus has been to ensure that the Kiziltepe Mine was delivered as planned, we have also made significant progress to enhance the long-term economics of the Red Rabbit Gold Project by expanding the resource base at Kiziltepe through recent drilling programmes and its wider hinterland, including an important and timely reappraisal of the Tavşan Sector.\n \nWe have made significant advances in achieving these goals this year. Leveraging our well-established track record for cost-effective exploration, our discovery cost now having been further reduced to US$15 per ounce, we are confident that we have significantly extended the resource base at the Kiziltepe Sector of the Red Rabbit Gold Project through two successive resource updates in one year.\n \nAt Kiziltepe, approximately 7,200m of drilling during 2016 confirmed our expectations in the continuity of mineralisation beneath the cap rocks at Arzu Central and tested several other targets successfully. These exciting resu...