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Ariana reports strong quarterly performance

17th July 2019

By: Creamer Media Reporter

     

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Turkey’s Kiziltepe mine, which forms part of the Red Rabbit joint venture between Ariana Resources and Proccea Construction, had a strong second quarter, with gold production exceeding the annualised quarterly guidance.

The mine produced 6 438 oz in the three months ended June, which although higher than the guidance, was below the output of the second quarter of last year, and of the first quarter of this year.

Silver production of 82 988 oz was also lower than the comparative and preceding quarters.

MD Kerim Sener said that the mine’s operational performance was strong, noting that the gold production continued to be above target, although operations were constrained by the pushback under way on the southern wall of the pit.

“While a pattern of unusually wet weather has continued even into July, progress on pit development has been continuing at pace and material movements have increased further. These higher mining rates are being accommodated by an increase in fleet capacity by our mining contractor and this will be maintained as we progress with pre-stripping of the Arzu North and Derya pits later this summer,” he said.

Edited by Mariaan Webb
Creamer Media Senior Deputy Editor Online

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