Member Info for NapoleonSolo

RNS

Proccea Construction Co. and Ariana's subsidiary, Galata Madencilik San. ve Tic. Ltd., have provided joint and several security over their shares in Zenit to the bank until such time that the loan has been repaid. Additional security provided against the loan includes all freehold land owned by Ariana's subsidiary, Camyol Gayrimenkul, Madencilik, Turizm, Tarim ve Hayvancilik Ltd. There is no hedging, currency swaps or other overhead requirements that are normally associated with traditional western-style project finance arrangements. Ariana has no further financial commitment to the JV for development level funding although it will aim to continue its exploration programmes across the JV region in order to improve overall potential and extend the life of mine to the maximum. First Drawdown Zenit Madencilik has undertaken a first drawdown of US$236,000 following the completion of the credit agreement with Türkiye Finans. This first drawdown has been applied to detailed engineering work completed by Proccea.

Dr. Kerim Sener, Managing Director, commented: "With our partners, Proccea Construction Co., we are exceptionally pleased to have secured the support of Türkiye Finans Katilim Bankasi A.S. for the financing of our first mine at Kiziltepe. This is a major leap forward enabling us to advance our plans for the construction of the mine. We would like to take this opportunity to thank Proccea for the resolute focus they have shared with Ariana as we transform from development into production. We also warmly appreciate Türkiye Finans Katilim Bankasi's confidence in our joint venture. Ariana and Proccea are highly encouraged and energised by these developments. Securing the finance will enable us to hit the ground running in H2 2014 pending the completion of final permitting. "This is a refreshingly straight-forward form of non recourse project financing that allows us to get on with developing the significant potential of the Red Rabbit project." Finance Facility A US$33 million finance facility has been agreed following negotiations with Türkiye Finans Katilim Bankasi A.S. ("Türkiye Finans"). The facility has been provided in the name of Zenit Madencilik San. ve Tic. A.S. ('Zenit") in order to fund the construction of the Kiziltepe Gold-Silver Mine. This is in addition to a final equity contribution (approximately US$5 million) to the project by Proccea which will complete their earn-in on 50% of the project. The facility will have a term of five years from the time of first draw down. Repayment of the loan will occur via 36 monthly instalments following a two-year principal repayment holiday after first draw down. The total repayments are capped at US$33 million, which covers all capital repayments and funding costs. Net lending prevailing at time of first drawdown is US$24 million with the balance of the facility attributable to borrowing costs. As the facility is based on a participatory banking model, repayments are calculated according to the amount and timing of each drawdown, and will be dependent on market conditions prevailing at the time of each drawdown. However, over the term of the loan, the overall credit profit margin cannot be changed in terms of the credit agreement.

Ariana Resources plc ("Ariana" or "the Company"), the Anglo-Turkish gold exploration and development company focused on Turkey, is pleased to announce a finance agreement to bring its Kiziltepe Gold-Silver Mine ('Kiziltepe') into production. Kiziltepe is the initial mine targeted at the Red Rabbit Gold Project in western Turkey, a joint venture between Ariana and Proccea Construction Co. ("Proccea"). The finance agreement has been secured via the joint venture company, Zenit Madencilik San. ve Tic. A.S. ("Zenit"). Highlights: US$33 million overall credit agreement, inclusive of capital repayments and borrowing costs, completed with Turkiye Finans Katilim Bankasi A.S., an international award winning Turkish investment bank. US$236,000 first drawdown completed by Zenit. Additional equity contribution by Proccea of approximately US$5 million to earn-in to 50% of the project completes project funding. Loan repayments will occur over five years, with a two-year principal repayment holiday following first drawn down. Facility is non-recourse and comprises no hedging or currency swap requirements.

The Barchart Technical Opinion rating is a 80% Buy with a Strongest short term outlook on maintaining the current direction. Longer term, the trend strength is Strong. Long term indicators fully support a continuation of the trend.

Signal Update Our system’s recommendation today is to STAY LONG. The previous BUY signal was issued on 16/03/2017, 11 days ago, when the stock price was 1.88. Since then AAU.L has fallen by -1.44%.

Now we're up and producing maybe the next RNS will be an announcement of a partner for other projects in Turkey.

Thanks for answer.

Silver $18.12 (US/oz) 12:40 am 28/03 0.372 (2.10%) Movement 14.7921.23 +19.37% 1 Year Return

Gold $1,260 (US/oz) 12:40 am 28/03 11.30 (0.91%) Movement 1,1291,377 +3.78% 1 Year Return

Any one know if our first producing mine is operational 24 hours a day.I have emailed company but as yet no reply.

Gold price rising, Silver price rising, production under way.Positive media comments and yet the price falls. However, looking at chart, whenever there is a bigish fall the SP seems to rise to fresh recent highs. But it is frustrating.

http://www.brrmedia.co.uk/event/143288

http://arianaresources.com/gold-pour

Silver $17.93 (US/oz) 8:45 pm 27/03 0.182 (1.03%) Movement 14.7921.23 +18.12% 1 Year Return

Gold $1,259 (US/oz) 7:05 pm 27/03 10.00 (0.80%) Movement 1,1291,377 +3.67% 1 Year Return

Thanks for that. I agree with all of that. There's a first.Cheers

I don't trust the chap. However, what did he say about Ariana.

When there scroll down page to the left.One article with questions and answers. And one podcast no 15 further down page.Don't know age of these.

Google Turkish Gold Miners Association and when there select Home page and it should come up.It may be a year or so old though but interesting.Does the interviewer ever shut up would be my only moan.