Director/PDMR Shareholding

RNS Number : 2445H

Ariana Resources PLC

14 November 2018

 

14 November 2018

AIM: AAU

Director/PDMR Shareholdings

Ariana Resources plc ("Ariana" or "the Company"), the exploration and development company with gold mining operations in Turkey, is pleased to announce that it was informed on 13 November 2018 that Dr. Kerim Sener, Managing Director, purchased 600,000 ordinary shares in the Company ("Ordinary Shares") on that date at 1.325p per share which are held in his SIPP.  Following this purchase, Dr. Sener's total shareholding in the Company will be 18,704,252 Ordinary Shares representing 1.77% of the Company's issued share capital.

The Company was also informed on 13 November 2018 that Mrs. de Villiers, wife of Michael de Villiers, Chairman, purchased on that date 225,000 Ordinary Shares at an average price of 1.3749p per share. Following this purchase, Mr. de Villiers' total shareholding in the Company will be held to be 53,725,000 Ordinary Shares representing 5.06% of the Company's issued share capital. 

Contacts:

Ariana Resources plc	Tel: [phone]
Michael de Villiers, Chairman
Kerim Sener, Managing Director
Beaumont Cornish Limited	Tel: [phone]
Roland Cornish / Felicity Geidt
Panmure Gordon (UK) Limited	Tel: [phone]
Charles Lesser / James Stearns
Yellow Jersey PR Limited	Tel: [phone]
Tim Thompson / Harriet Jackson / Henry Wilkinson	[e-mail]

The following information relating to the transaction has been filed with the FCA in accordance with Article 19(1) of the Market Abuse Regulation,

Kerim Sener

1	Details of  the  person  discharging  managerial  responsibilities  /  person  closely associated
a)	Name	Kerim Sener
2	Reason for notification
a)	Position / status	Managing Director
b)	Initial notification /Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Ariana Resources plc
b)	LEI	213800LVVY7GZY21LH22
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description  of  the financial instrument, type of instrument Identification code	Ordinary shares of 0.1 pence each in Ariana Resources plc ISIN GB00B085SD50
	Nature of the transaction	Purchase of ordinary shares
c)	Price(s) and volumes(s)	Price(s) Volumes(s) 1.325 pence 600,000
d)	Aggregated information	n/a
e)	Date of the transaction	13 November 2018
f)	Place of the transaction	LSE, AIM (XLON)

Michael de Villiers

1	Details of  the  person  discharging  managerial  responsibilities  /  person  closely associated
a)	Name	Michael de Villiers
2	Reason for notification
a)	Position / status	Chairman
b)	Initial notification /Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Ariana Resources plc
b)	LEI	213800LVVY7GZY21LH22
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description  of  the financial instrument, type of instrument Identification code	Ordinary shares of 0.1 pence each in Ariana Resources plc ISIN GB00B085SD50
	Nature of the transaction	Purchase of ordinary shares by spouse
c)	Price(s) and volumes(s)	Price(s) Volumes(s) 1.3749 pence 225,000
d)	Aggregated information	n/a
e)	Date of the transaction	13 November 2018
f)	Place of the transaction	LSE, AIM (XLON)

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

Editors' Note

About Ariana Resources:

Ariana is an exploration and development company with mining operations focused on epithermal gold-silver and porphyry copper-gold deposits in Turkey, the largest gold producing country in Europe.  The Company is developing a portfolio of prospective licences originally selected on the basis of its in-house geological and remote-sensing database, which now contain a total of 1.6 million ounces of gold and other metals.  Ariana's objective is to cost-effectively add value to its projects through focused exploration and to develop its operations, primarily through well-financed joint ventures. 

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 currently in production.  The total resource inventory at the Red Rabbit Project and wider project area stands at c. 605,000 ounces of gold equivalent.  At Kiziltepe a Net Smelter Return ("NSR") royalty of up to 2.5% on production is payable to Franco-Nevada Corporation.  At Tavsan an NSR royalty of up to 2% on future production is payable to Sandstorm Gold.

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.  A NSR royalty of up to 2% on future production is payable to Eldorado Gold Corporation.

Panmure Gordon (UK) Limited are broker 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.

 

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