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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

Ariana Resources weighs in on its gold production

AIM-listed Ariana Resources says it expects 20,000 ounces of gold production from its 23.5% shareholding in Zenit Madencilik in the coming year.

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Shares were up as much as 3% on the news which adds to the already robust production that Ariana has built up at Kizeltepe. This follows the recent news that Ariana has also agreed an all-share merger with Zimbabwe-focused gold miner Rockover Holdings. The flagship asset there is its 100% ownership of the 1.3m ounce Dowke Gold Project in Zimbabwe, which has an expected mine life of 13 years.

(AI Video Summary)

Ariana Resources' 2024 gold production outlook

Ariana Resources, an AIM-listed gold producer, shares insights on its 2024 production guidance from the Zenit Madencilik mining operations in Turkey and its recent merger with Rockover Holdings in Zimbabwe. CEO Dr Karim Sener explains the profitability and scaling of gold production from the Tashan ore, with positive results from both CIL and heap leach processing techniques. Anticipated is a production rate of around 25,000 ounces of gold per annum for about a decade. Significant reductions in production costs are expected, alongside increased revenues due to higher gold prices.

Future development

The company has managed development costs efficiently, without shareholder or debt market recourse, benefiting from its Turkish partnership. Expansion into Zimbabwe comes as Ariana leverages Dr. Sener's networking and experience, signaling Ariana's strategic diversification and highlighting potential in the region's mining sector. Despite market challenges, Ariana remains optimistic, emphasising sound project development and timing to reflect company value. Additionally, a dual listing on the ASX is under consideration to capitalise on Australia’s resources-driven market understanding and support for mineral projects, including those in Zimbabwe.

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

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