During the summer we met with the CEO of Ariana Resources [LON:AAU] Kerim Sener; his firm has been building a nice package of opportunities in Turkey, starting with the acquisition of a project from Newmont in 2004. Its primary focus remains on the development of gold with anticipated 2022 production of 25,000 oz.
Like some other successful miners - e.g. Fortitude Gold covered earlier this week - Ariana backstops downside risk with current mining operational cash flow. It boasts lower quartile operational cash costs and an industry leading gold discovery cost.
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