News

July 02, 2009

Ariana Resources Proposes To Sell To The Public Pure Gold Bars Produced From Its Operations At Kiziltepe In Turkey

By Charles Wyatt

It will not be the first time that Minews has pointed out that it is the directors who use their brains that survive best when money is scarce. A good example is AIM listed Ariana Resources, where Kerim Sener, the Turkish managing director, has just announced that he is considering the sale of pure gold bars from the initial production of gold at the company’s Kiziltepe deposit at the Sindirgi project in the west of the country. At the moment he is discussing the logistics and costs with the Istanbul Gold Refinery and another refinery, both of which are interested.

One of the subjects under discussion at the moment is what weight these bars should be to attract most demand. One ounce, two ounce, five ounce and ten ounce seem to fit the bill and, though one refinery prefers to weigh in grammes, this should not be an insuperable problem. The Australian company Delta Gold used to sell two ounce bars in the days before it merged with Goldfields and it is one of these bars which is rapped on a table to bring the audience at our Minesite Forums to...