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Ariana Resources plc, an AIM-listed exploration and development company operating in Europe, has announced its full-year production results for the year ended 31 December 2020 for the Kiziltepe Mine in Turkey. Kiziltepe is currently 50% owned by Ariana through its shareholding in Zenit Madencilik San. ve Tic. A.S., which will reduce to 23.5% once the new joint venture with Ozaltin Holding A.S. and Proccea Construction Co. completes (details as announced on 7 December 2020 and ratified by shareholders on 30 December 2020).
Production update
Kiziltepe produced a total of 18 645 oz of gold during the year, exceeding its full year production guidance by 3.5%.
As at end 2020 the mine had produced a total of 84 200 oz of gold and 915 233 oz of silver, recording US$134 million in revenue since operations commenced in early 2017.