Ariana Resources raises funds for Turkey gold projects

June 20, 2017

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Gold exploration company Ariana Resources has raised £1.87-million through the placement of 133.8-million ordinary shares and the subscription of 10.03-million new ordinary shares, at 1.30p apiece. The Aim-listed company said it would use the proceeds to provide working capital support to its joint venture (JV) operating company, Zenit Madencilik – a 50:50 partnership between Ariana and Proccea Construction, prior to the miner’s Kiziltepe operation, in Turkey, achieving commercial production. 

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