Ariana Resources PLC (AIM:AAU) managing director Kerim Sener gives Proactive an update on its Asgard Metals Fund. He says the companies have successfully raised additional funds both privately and through the capital markets, totalling circa A$5,500,000, which he says has been a real achievement. Sener adds that diamond drilling is progressing well at the Hertica project in Kosovo while the company also has a number of drill programs advancing in Turkey. ‘'It’s probably one of the most active periods we’ve ever been involved in'', he says.
Sener said: "During the year, we made certain additional investments in some of our investee companies and welcome adding two new companies to the portfolio - Rockover Holdings, operating in Zimbabwe through a wholly-owned subsidiary, and Altai Resources, operating in Kazakhstan.”
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Ariana Resources plc is a gold exploration, development, and production company focused on precious and technology metals. The principal activities of the Company and its subsidiaries are related to the exploration for and development of gold, copper, and technology metals, primarily in south-eastern Europe, with an interest in mining operations in Turkey. The Kiziltepe Sector is located in western Turkey and includes Kiziltepe Gold-Silver Mine, the Company's first operating asset, as well as the exploration and development prospects of Kepez, Karakavak, Kizilcukur and Ivrindi. Its Salinbas Gold Project is located in north-eastern Turkey within the Artvin Goldfield, which contains the Hot Gold Corridor, comprising several gold-copper projects, including the Hot Maden project, which lies about 16 kilometers to the south of Salinbas. Au-Ag mineralization at Salinbas lies immediately adjacent to the Ardala polyphase Au-Cu-Mo porphyry. Its Tavsan Gold Project is located in western Turkey.