Business
Letter To Shareholders
Letter To Shareholders.
About this update from Ariana Resources Plc
[{"type":"text","content":"\n \nRNS Number : 6548L Ariana Resources PLC 13 January 2016 \n\n \n \n \n \n \n \n13 January 2016\nAIM: AAU\n \nARIANA RESOURCES \n \nLETTER TO SHAREHOLDERS\n \nAriana Resources plc (\"Ariana\" or \"the Company\"), the exploration and development company operating in Turkey, is pleased to announce an open letter to shareholders, which will be posted today on the Company's website at www.arianaresources.com.\n \nDear Shareholder,\n \nAs we welcome you to 2016, we would like to reflect on the significant progress made by the Company during the past year and to provide a glimpse of our future direction. We start the current year with great confidence, having achieved all of our key targets for 2015 and with the understanding that we remain on track for our maiden gold pour during the second half of this year.\n \nThe Company is exceptionally well-positioned in relation to many of its peers, holding significant investments in several high-value projects and opportunities. While its primary and most advanced interests remain in Turkey, the Company now has exposure to both Australia (lithium) and Colombia (gold) via agreements with and interests in Dakota Minerals Limited (ASX:DKO) and Royal Road Resources (TSX-V:RYR), respectively. \n \nAt our core gold project in Turkey, Red Rabbit, construction is continuing at pace and remains on track for completion during H2 2016, as per previous guidance. Our project partners, Proccea Construction Co., are working hard to deliver the project on time and on budget. The construction phase is being funded through a combination of equity and debt by Proccea and Turkiye Finans Katilim Bankasi A.S., respectively. During February 2016, we expect construction of the process plant to proceed on schedule, with several of the key foundations having already been laid during the past month. Key long-lead equipment from the USA, South Africa and France is expected to shipped in late January. We will provide further interim updates on construction progress during Q1 2016 and guidance on the timing of project completion and commissioning during Q2 2016. In addition, in the coming weeks we will be announcing the results of our recent drilling programme undertaken across several prospects...