Ariana Resources progress its Turkey gold mine construction
Ariana’s Kiziltepe gold mine progress with construction financing facility.
Ariana Resources PLC’s partner in the Red Rabbit gold project, Proccea, now owns 42% of the joint venture having spent a further US$2.4mln over the past 12 months.
Proccea has also committed to another US$2.1mln to take its final stake to 50%.
The Turkish firm is building the gold mine at Kiziltepe for the venture and will soon be starting to draw on the US$33mln construction finance facility in place.
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