AAU Ariana Resources Plc

 
TIDMAAU 
 
   13 January 2017 
 
   AIM: AAU 
 
   PLACING TO RAISE GBP900,000 
 
   TOTAL VOTING RIGHTS 
 
   Ariana Resources plc ("Ariana" or "the Company"), is pleased to announce 
an oversubscribed placing of 56,250,000 new ordinary shares of 0.1 pence 
each in the Company (the "Placing Shares") at a price of 1.6 pence per 
share (the "Placing Price"), in order to raise gross proceeds of 
approximately GBP900,000 (the "Placing") before expenses. The Placing 
has been undertaken within the Company's existing share authorities, and 
has been supported by both new and existing shareholders. The net 
proceeds of the Placing will be used to advance the Company's projects 
outside of Kiziltepe, and to support ongoing working capital 
requirements of the Group.  The Placing is conditional only on admission 
to AIM ("Admission"). 
 
   Application will be made for the 56,250,000 new ordinary shares of 0.1 
pence issued under the Placing, to be admitted to trading on AIM 
("Admission").  Such shares will rank pari passu with all existing 
ordinary shares in the Company, and Admission is expected to take place 
on 27 January 2017. 
 
   Dr. Kerim Sener, Managing Director, commented: 
 
   "We are pleased to be raising GBP900,000 at this important time in the 
evolution of the Company.  Following the recent acquisition of 100% of 
the 1 million ounce Salinbas Project and the completion of a highly 
encouraging scoping study at Tavsan, the funds raised will be utilised 
to advance these projects in particular.  Both projects require 
additional value additive work that it is important that we conduct 
during the winter months and immediately ahead of the exploration field 
season.  Completing this work while Kiziltepe is in the process of 
entering production, will contribute significantly towards our strategy 
to enhance our production profile towards 50,000 oz gold per annum." 
 
   Total voting rights 
 
   At Admission, the Company's issued share capital will consist of 
897,791,783 ordinary shares with a nominal value of 0.1 pence each, with 
voting rights ("Ordinary Shares").  The Company does not hold any 
Ordinary Shares in Treasury. Therefore, the total number of Ordinary 
Shares in the Company with voting rights will be 897,791,783. 
 
   This announcement contains inside information for the purposes of 
Article 7 of the Market Abuse Regulation (EU) No 596/2014 ("MAR"). 
 
   Contacts: 
 
 
 
 
Ariana Resources plc             Tel: +44 (0) 20 7407 3616 
Michael de Villiers, Chairman 
Kerim Sener, Managing Director 
 
Beaumont Cornish Limited         Tel: +44 (0) 20 7628 3396 
Roland Cornish / Felicity Geidt 
 
Beaufort Securities Limited      Tel: +44 (0) 20 7382 8300 
Jon Belliss 
 
Panmure Gordon (UK) Limited      Tel: +44 (0) 20 7886 2500 
Adam James / Tom Salvesen 
 
 
 
   Editors' Notes: 
 
   About Ariana Resources: 
 
   Ariana is an exploration and development company focused on epithermal 
gold-silver and porphyry copper-gold deposits in Turkey.  The Company is 
developing a portfolio of prospective licences originally selected on 
the basis of its in-house geological and remote-sensing database. 
 
   The Company's flagship assets are its Kiziltepe and Tavsan gold projects 
which form the Red Rabbit Gold Project.  Both contain a series of 
prospects, within two prolific mineralised districts in the Western 
Anatolian Volcanic and Extensional (WAVE) Province in western Turkey. 
This Province hosts the largest operating gold mines in Turkey and 
remains highly prospective for new porphyry and epithermal deposits. 
These core projects, which are separated by a distance of 75km, form 
part of a 50:50 Joint Venture with Proccea Construction Co.  The 
Kiziltepe Sector of the Red Rabbit Project is fully-permitted and is 
nearing start-up.  The total resource inventory at the Red Rabbit 
Project and wider project area stands at c. 525,000 ounces of gold 
equivalent. 
 
   In north-eastern Turkey, Ariana owns 100% of the Salinbas Gold Project, 
comprising the Salinbas gold-silver deposit and the Ardala 
copper-gold-molybdenum porphyry among other prospects.  The total 
resource inventory of the Salinbas project area is c. 1 million ounces 
of gold equivalent. 
 
   Beaufort Securities Limited and Panmure Gordon (UK) Limited are joint 
brokers to the Company and Beaumont Cornish Limited is the Company's 
Nominated Adviser. 
 
   For further information on Ariana you are invited to visit the Company's 
website at www.arianaresources.com. 
 
   Ends 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Ariana Resources plc via Globenewswire 
 
 
  http://www.arianaresources.com/s/Home.asp 
 

(END) Dow Jones Newswires

January 13, 2017 02:00 ET (07:00 GMT)

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