Ariana shares leap after submitting EIA for Kiziltepe

30th Aug 2013 13:49

Shares in Ariana Resources leapt after it announced it had taken a further key step towards the start of building the first mine at the Red Rabbit Gold project in Turkey.The gold explorer said it had submitted its final Environment Impact Assessment (EIA) report for the Kiziltepe sector of the Red Rabbit Gold project.It is hoping to receive ministerial approval later this year at which point it will be able to proceed with final permitting for construction. In tandem, Ariana and its joint venture partners are negotiating finance for the construction of the mine and its commission which is scheduled for the second half of 2014.Chairman Michael de Villiers said: "We now look forward to receiving positive feedback from the Ministry of Environment and Urban Planning, so that the company and its partners may proceed to the construction phase of the project."Share in Ariana were up 13% at 1p. TB