Ariana Resources PLC posts strong third quarter financials

() generated revenues of US$11.4mln from the Kiziltepe gold mine in Turkey during the third quarter of 2020.

 The average realised gold price was US$1,915 per ounce, up significantly on the quarter, as well as on the corresponding period a year ago.

By contrast, operating cash cost for the period was just US$352 per ounce, down from the US$492 booked in the previous quarter, due in part to a decline in the foreign exchange rate, and also flattered by the sale of silver stock.

Third quarter production, which was reported last month, was just over 5,000 ounces.

Broker Shore Capital is optimistic about a beat to production guidance for the full year.