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Ariana – the good news keeps on flowing

By Nigel Somerville | Thursday 2 April 2020


Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


AIM-listed Turkish gold producer Ariana Resources (AAU) has released more good news. Yesterday came a perhaps surprise announcement that the due diligence process on the way to approval of the corporate transaction proposed to hand over $30 million to Ariana and fund the Salinbas project in return for Ariana dropping its interest in the Salinbas and Red Rabbit (centred on the gold production facility at Kiziltepe) to 23.5% had been completed and was now under review. Today came a Resource Development update from Kepez – a satellite to Kiziltepe.

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