Ariana Resources remains on track to meet production target as output rises in Q3

08:55 21/10/2019 - Ariana Resources reported an uptick in gold production in the third quarter of the year, keeping the miner on track to meet its guidance.

Gold production for the quarter was 6,933 ounces, up from 6,438 ounces in the second quarter, exceeding average annualised quarterly guidance by 11%, the company said.

Ore processed for the quarter rose to 55,174 tonnes from 48,132 tonnes at an average head grade to the plant of 4.47 grams per tonne of gold.

Average metallurgical plant recovery of gold for the quarter remained high at 93.7%.

'We remain fully on track to deliver against our guidance of 25,000 ounces of gold for the year, derived from the remaining production expected at the Arzu South pit. Meanwhile, mining activity has commenced at the Derya pit and we look forward to seeing the development of this part of our operation,' said Dr. Kerim Sener, managing director.

At 8:55am: (LON:AAU) Ariana Resources PLC share price was +0.03p at 1.98p

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