Ariana announces today that its second mine at Tavşan in Turkey is fully operational after receipt of the final operating permit. Ariana owns 23.5% of a new Heap Leach operation through its Zenit partnership. Capable of producing between 25-30koz/yr gold; at full production at cash costs of ~$1,500/oz (Zeus est.) and the current gold price of nearly $4,000/oz over the short term Tavşan could have an EBITDA (100%) of ~$60m/yr. With the nearby Kiziltepe CIL plant, currently being fed with high-gra ....
