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History
Ariana Resources was established in 2002 for the purpose of exploring for, acquiring and developing economic gold deposits in Turkey. Since its formation, the company has compiled a substantial, proprietary geological database on Turkey, which it is employing to discover epithermal and porphyry-related gold deposits in the country. Turkey is an exceptional place to explore - it offers highly prospective and under-explored geology, a rapidly and positively evolving political landscape and an increasingly sophisticated investment climate.
Timeline and Key Milestones
2002
August: Ariana Resources Limited is incorporated in the UK, £5,000 raised
September: Decision taken to focus on Turkey
2003
September: Preliminary field appraisal of sites in Turkey
November: Seed financing of £77,862
December: Galata Madencilik is incorporated in Turkey
2004
January: Acquisition of first exploration licences in Turkey
July: Kinik prospect is discovered
December: Pre-IPO financing of £715,000
2005
January: Acquisition of the Sindirgi Gold Project from Newmont Mining Corporation
July: Ariana Resources plc is listed on the AIM market of the London Stock Exchange, raising £1,165,000
2006
May: Placing raises £2,000,000
August: Acquisition of the Demirci Gold Project from Newmont Mining Corporation
October: Licence portfolio almost doubles in area to 1,800km2
2007
March: Management and board restructured
May: JORC resource estimate announced for Kiziltepe: 135,000 oz
June: Exclusivity agreement signed on the 140,000 oz Tavsan project
July: Acquisition of the Ardala Copper-Gold Project
August: Shares start trading on the PLUS Market
September: Placing raises £973,068
2008
May: Joint Venture established with European Goldfields, private placing raises £928,551
June: Purchase of the Tavsan Project completed
July: JORC resource increased at Kiziltepe: 186,000 oz
October: JORC resource estimate announced for Tavsan: 215,000 oz
November: Permitting on Kiziltepe completed
2009
January: Placing raises £500,000
March: Trial mining commences on Kiziltepe
April: Acquisition of Muratdag Gold Project from Newmont Mining and Lydian International
June: First gold production - 387oz Au
September: Placing raises £800,000
October: Mou on JV on Red Rabbit with Proccea Construction
2010
February: Positive Scoping study completed on Kiziltepe
March: Placing raises £1,000,000
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