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Ariana Resources Plc (ASX:AA2)

ALERT: Price-sensitive ASX Announcement for AA2
Current share price for AA2 : $0.265 -0.015 (-5.36%)+
Announcement
Release
22 Jul 2026 8:22AM
Price at Release
$0.280
Full Release
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Summary
Ariana Resources plc has provided an update on its Turkish mining interests, specifically through its stake in Zenit Madencilik San. ve Tic. A.Ş. The Tavşan operations have successfully completed their ramp-up, achieving a specification rate of 4,000 tonnes per day for heap-leach operations, with ongoing enhancements in crushing and screening. The Kiziltepe interests have been isolated into a new legal entity, allowing for independent transactions. Ariana is working on selling its share in Kiziltepe to Proccea Construction Co. This move aims to simplify Ariana's interests in Türkiye and reduce future financial liabilities.
Key Points
  • Ariana Resources plc provides an update on its Turkish mining interests through its 9.9% shareholding in Zenit Madencilik San. ve Tic. A.S.
  • Tavsan operations have completed ramp-up and ore is being loaded onto heap-leach pads at a rate of 4,000 tonnes per day.
  • Operational improvements at Tavsan include enhancements in crushing, screening, and agglomeration processes.
  • Kiziltepe interests have been transferred to a separate legal entity through an in specie distribution to Zenit shareholders.
  • The company is working towards selling its 9.9% interest in the Kiziltepe separate legal entity to Proccea Construction Co.
  • Various operational enhancements continue to be made at Tavsan, including improvements to crushing and screening operations.
  • The Tavsan Mine has approximately 750,000 tonnes of ore stocks at various grades.
  • Gold recovery at the Tavsan Mine is maintained at operationally expected levels of around 70%.
  • New drilling data at Tavsan is being assessed with the potential to expand currently defined open pits.
  • The company aims to simplify its interests in Türkiye while reducing future financial exposure.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.