Last checked at 4 Nov 2022 12:12
4 November 2022
AIM: AAU
Director/PDMR Shareholdings
Total Voting Rights
Ariana Resources plc ("Ariana" or "the Company"), the AIM-listed exploration and development company operating in Europe, announces that it has been informed of the following:
- Mr Michael de Villiers, Chairman, on 3 November 2022 exercised options pursuant to the Ariana Resources PLC 2018 Share Option Plan over 1,500,000 ordinary shares in the Company ("Ordinary Shares") at 1.55 pence per share. Application will be made for the new Ordinary Shares, which will rank pari passu with all existing Ordinary Shares, to be admitted to trading on AIM on or around 10 November 2022 ("Admission"); and
- that Mr Michael de Villiers, Chairman, on 3 November 2022 has disposed of 750,000 Ordinary Shares at an average price of 2.93 pence per share.
For the purposes of the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority ("FCA"), at Admission the Company's issued share capital will consist of 1,146,363,330 ordinary shares with a nominal value of 0.1p 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 is 1,146,363,330.
Accordingly the holding of Mr de Villiers is now 64,750,000 Ordinary Shares in the Company, representing a percentage holding of 5.65% of the Company's enlarged share capital.
The following information relating to the transaction has been filed with the FCA in accordance with the UK Market Abuse Regulation
Michael de Villier
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Michael de Villiers | ||||
2 | Reason for notification | |||||
a) | Position / status | 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 transactions | - exercise of options - disposal of ordinary shares | |||||
c) | Price(s) and volumes(s) |
| ||||
d) | Aggregated information | n/a | ||||
e) | Date of the transaction | - 3 November 2022
| ||||
f) | Place of the transaction | Off market | ||||
This announcement contains inside information for the purposes of the UK Market Abuse Regulation.
Contacts:
Ariana Resources plc | Tel: +44 (0) 20 3476 2080 |
Michael de Villiers, Chairman | |
Kerim Sener, Managing Director | |
Beaumont Cornish Limited | Tel: +44 (0) 20 7628 3396 |
Roland Cornish / Felicity Geidt | |
Panmure Gordon (UK) Limited | Tel: +44 (0) 20 7886 2500 |
John Prior / Hugh Rich / Atholl Tweedie | |
Yellow Jersey PR Limited | Tel: +44 (0) 20 3004 9512 |
Dominic Barretto / Henry Wilkinson / Laurie Gellhorn | arianaresources@yellowjerseypr.com |
Editors' Note:
About Ariana Resources:
Ariana is an AIM-listed mineral exploration and development company with an exceptional track-record of creating value for its shareholders through its interests in active mining projects and investments in exploration companies. Its current interests include gold production in Turkey and copper-gold exploration and development projects in Cyprus and Kosovo.
The Company holds 23.5% interest in Zenit Madencilik San. ve Tic. A.S. a joint venture with Ozaltin Holding A.S. and Proccea Construction Co. in Turkey which contains a depleted total of c. 2.1 million ounces of gold and other metals (as at February 2022). The joint venture comprises the Kiziltepe Mine and the Tavsan and Salinbas projects.
The Kiziltepe Gold-Silver Mine is located in western Turkey and contains a depleted JORC Measured, Indicated and Inferred Resource of 222,000 ounces gold and 3.8 million ounces silver (as at February 2022). The mine has been in profitable production since 2017 and is expected to produce at a rate of c.20,000 ounces of gold per annum to at least the mid-2020s. A Net Smelter Return ("NSR") royalty of 2.5% on production is being paid to Franco-Nevada Corporation.
The Tavsan Gold Mine is located in western Turkey and contains a JORC Measured, Indicated and Inferred Resource of 253,000 ounces gold and 0.7 million ounces silver (as at June 2020). Following the approval of its Environmental Impact Assessment and associated permitting, Tavsan is being developed as the second gold mining operation in Turkey. A NSR royalty of up to 2% on future production is payable to Sandstorm Gold.
The Salinbas Gold Project is located in north-eastern Turkey and contains a JORC Measured, Indicated and Inferred Resource of 1.5 million ounces of gold (as at July 2020). It is located within the multi-million ounce Artvin Goldfield, which contains the "Hot Gold Corridor" comprising several significant gold-copper projects including the 4 million ounce Hot Maden project, which lies 16km to the south of Salinbas. A NSR royalty of up to 2% on future production is payable to Eldorado Gold Corporation.
Ariana owns 100% of Australia-registered Asgard Metals Fund ("Asgard"), as part of the Company's proprietary Project Catalyst Strategy. The Fund is focused on investments in high-value potential, discovery-stage mineral exploration companies located across the Eastern Hemisphere and within easy reach of Ariana's operational hubs in Australia, Turkey and the UK.
Ariana owns 75% of UK-registered Western Tethyan Resources Ltd ("WTR"), which operates across south-eastern Europe and is based in Pristina, Republic of Kosovo. The company is targeting its exploration on major copper-gold deposits across the porphyry-epithermal transition. WTR is being funded through a five-year Alliance Agreement with Newmont Corporation (www.newmont.com).
Ariana owns 50% of UK-registered Venus Minerals Ltd ("Venus") which is focused on the exploration and development of copper-gold assets in Cyprus which contain a combined JORC Indicated and Inferred Resource of 17Mt @ 0.45% to 1.10% copper (excluding additional gold, silver and zinc), in addition to pursuing a separate 50:50 JV on Hellenic Apliki Mines, which owns the Hellenic SX-EW processing plant and the 17Mt @ 0.26% to 0.69% Cu Apliki mine development project.
Panmure Gordon (UK) Limited is broker to the Company and Beaumont Cornish Limited is the Company's Nominated Adviser and Broker.
For further information on Ariana you are invited to visit the Company's website at www.arianaresources.com.
Ends.