UK 18:03 Thursday, 1 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Shares in long-term AIM dog Ariana Resources (AAU) have bounced strongly now that the company has finally received formal approval from the Turkish government to proceed with its flagship Red Rabbit gold and silver project, holding a currently estimated 475,000 oz. of gold equivalent in the west of the country. Though still 90% below their 2005 float price of 12p, Ariana shares at 1.19p are more than 50% up from a 0.75p 12-month low, following the formal approval by the Prime Minister’s office in Ankara of a crucial forestry permit for the project.
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Comments
cj
“According to Dr. Sener, Ariana, which lost a sharply-reduced £885,000 last year, originally expected its permit application would take three months, but in the event it has taken 13 months, a delay he blames on changes in Turkey’s permitting procedures introduced three years ago. “
So the changes to the permitting procedures were in place for 2 years before they made the application but he blames that for the delay? Smoke? Mirrors?