14 September 2009
AIM / PLUS Markets: AAU
PLACING TO RAISE £800,000
Ariana Resources plc ("Ariana" or "the Company"), the gold
exploration and development company focused on Turkey, is pleased to
announce the placing of 26,666,667 new Ordinary Shares of 1 pence
each with certain institutional investors ("the Placing") at a price
of 3 pence per share, raising £800,000 before expenses.
Dr. Kerim Sener, Managing Director, commented:
"This Placing was conceived and completed within only one week. This
highly successful and speedy outcome is a powerful endorsement of the
steady progress made by the Company in recent months. Interest in
the Placing exceeded expectations, underpinned by the latest positive
shift in market sentiment towards Ariana, and aided by the sterling
efforts of our brokers.
The funds raised from this Placing will allow the Company to
undertake further development work on the Kiziltepe and Tavsan
deposits, and to initiate core components of the pre-feasibility
level evaluation of the 'Red Rabbit' Project, which envisages
integrating these two deposits into a single venture. New
exploratory drilling on Kiziltepe and related targets will be
undertaken in prospective areas where surface data is limited. At
Tavsan, a geophysical programme is planned to identify new targets
for resource extensions.
We welcome our new shareholders and look forward to keeping our
valued investors informed of the Company's progress as we move
forward with the development of our projects in western Turkey".
Details of Placing
The Placing was undertaken for 26,666,667 ordinary shares (the
"Placing Shares") of 1 pence each ("Ordinary Shares") at 3 pence per
Ordinary Share. The Placing is conditional upon admission to trading
on AIM of the new Ordinary Shares. Application will be made to the
London Stock Exchange for the new Ordinary Shares to be issued
pursuant to the Placing to be admitted to trading on AIM. It is
anticipated that Admission will become effective and dealings will
commence on Friday 18 September 2009. The new Ordinary Shares will
rank pari passu, in all respects, with the existing Ordinary Shares
that are currently traded on AIM. Following admission of these
shares, there will be a total of 170,517,993 Ordinary Shares in
issue.
Contacts:
Ariana Resources plc Tel: 020 7407 3616
Michael Spriggs, Chairman
Kerim Sener, Managing Director
Beaumont Cornish Limited Tel: 020 7628 3396
Roland Cornish
Alexander David Securities Limited Tel: 020 7448 9820
Nick Bealer / David Scott
Loeb Aron & Company Ltd Tel: 020 7628 1128
Peter Freeman / Frank Lucas
Editors' note:
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 exploring a portfolio of prospective licences selected
on the basis of its in-house geological and remote-sensing database,
on its own in western Turkey and in Joint Venture with European
Goldfields Limited in north-eastern Turkey.
The Company's flagship assets are its Sindirgi and Tavsan gold
projects. Both projects 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, are presently
being assessed as to their economic merits. The total resource
inventory of the Company stands at 401,000 ounces of gold
equivalent.
Loeb Aron & Company Ltd. and Alexander David Securities 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
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