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Ariana's guidance down on 2018 numbers

Ariana Resources (AIM:AAU) says its 50%-owned Kiziltepe mine will produce 25,000 ounces of gold in 2019, compared to 2018’s 27,000oz.
Ariana's guidance down on 2018 numbers Ariana's guidance down on 2018 numbers Ariana's guidance down on 2018 numbers Ariana's guidance down on 2018 numbers Ariana's guidance down on 2018 numbers

The Arzu North pit at Kiziltepe

Staff reporter

Last year was the first full year of production at the Turkish mine. 

Ariana said 2019 would see the openpit operation hit throughput of 195,000 tonnes at a grade of 5g/t and recoveries around 90%.

Managing director Kerim Sener said he was confident the onsite team could manage the winding down of the Arzu North pit.

"Our gold production guidance for the JV is up 25% from last year's guidance, and is estimated at circa 25,000 oz for the year, reflecting a further increase in expected grades as we mine deeper into the Arzu South pit and the maintenance of high monthly mill throughputs," he said.

"Although ore output from Arzu South will be variable through the year due to the pushbacks required to accommodate the final stage of mining, current stockpiles are expected to provide for any shortfalls in output such that mill throughput can be maintained at the highest levels through the year."

Mining will move onto satellite pits in 2020, the company said.