Ariana Resources jumps as hails "important milestone" at Tavsan

(Alliance News) - Ariana Resources PLC on Wednesday said the Tavsan project in Turkey is now fully operational, with output expected to start this quarter.

The mineral exploration and development firm, which also has assets in Zimbabwe, Cyprus and Kosovo, said it has received the final permit from Turkish watchdogs at Tavsan. It means loading of the heap-leach pad can begin.

"Gold production from the heap-leach is expected to start in the current quarter, once sufficient ore is loaded and leaching has commenced," Ariana added. "Approximately 800,000 tonnes of ore is currently stockpiled and awaiting loading, with crushing having been underway since August."

Ariana owns just under 24% of Zenit Madencilik, which is building the Tavsan mine.

Ariana shares jumped 19% to 2.00 pence each in London on Wednesday afternoon.

"The start of heap-leaching operations at Tavsan is an important milestone for the company," Managing Director Kerim Sener said.

By Eric Cunha, Alliance News news editor

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