Edison Investment Research - Ariana Resources (AAU) Flash note: All go for mine construction, start-up 2016

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Edison Investment Research

Flash note: All go for mine construction, start-up 2016

After a 13-month delay, Ariana Resources has finally received approval for its forestry permit â€“ the critical permit needed to go ahead with mine construction. This announcement triggers release of the c US$24m principal loan amount secured with a Turkish bank and allows Proccea Construction (Arianaâ€™s JV partner) to begin building the Kiziltepe mine. Once completed, proceeds from the Red Rabbit JV will be shared 51:49 between Ariana and Proccea respectively.

03/06/2015 1 EN

Underlying

Ariana Resources

Ariana Resources is a producer, explorer and developer focused on gold and technology-metals. As of Dec 31 2016, Co. held 50.0% of Kiziltepe and Tavsan resources, and 100.0% of Salinbas and Ardala resources.

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GB00B085SD50 London Stock Exchange United Kingdom

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Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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