Ariana Resources boosted sales from its Kiziltepe mine in Turkey in the first quarter after lower production was offset by higher precious metal prices.

Gold output for the three months through March fell to 7,296 troy ounces, down from 7,517 in the final quarter of 2018.

Silver output fell to 84,109 troy ounces, down from 90,881 troy ounces.

Gold and silver sales rose to $10.9m, up from $10.6m.

'These first quarter results for the Kiziltepe mine reflects a solid start to 2019 and continues to demonstrate the efficiency of our JV operations,' chief executive Kerim Sener said.

'Operating cash costs per ounce continue to remain low, despite the high strip ratios incurred during the pushback of the southern pit wall at Arzu South.'

'This was helped by the planned draw down on stockpiles, maintenance of significant by-product silver credit and high grades through the plant during the period.'


At 2:43pm: (LON:AAU) Ariana Resources PLC share price was -0.05p at 1.98p