Ariana Resources profit inches higher on increased gold output, Turkey

Turkey-focused miner Ariana Resources report a small rise in income from its Kiziltepe joint venture after higher production helped offset lower gold prices.

Ariana owns 50% of Kiziltepe and Proccea Construction owns the rest through their Red Rabbit JV.

Gross income for the three months through September inched up to $10.12m, from $10.07m in the second quarter.

Production and sale of 7,588 ounces of gold during the quarter represented a 6% increase on-quarter.

‘These quarterly results have yet again demonstrated record performance for the Kiziltepe Mine and we are now well on track to exceed our production guidance for the year,’ managing director Kerim Sener said.

Source: stockmarketwire