Take a look rns out today

On a quick scan of recent news, this is looking ever more encouraging. Lots of gold being discovered and now a new drilling programme being funded by a placing to raise 2 million. I'm afraid that this increases the number of shares in issue by almost 50% to almost 47 mil, BUT with increasingly good prospects this ought to do quite nicely.

Institutional and directorial ownership runs at 77% prior to the placing and will probably be over 80% after the placing. Placing shares are tradeable from tomorrow.

1) The share will be very illiquid and therefore very difficult to trade
2) Is today/tomorrow the time to be looking at investing in another gold miner when gold still has (imo) a lot of correcting to do?

All depends on if you believe "correcting" is price positive or negative cynic!!

At the moment I think the end of the world is coming ...... not really I don't, but this market is really murderous as far as i am concerned ..... A bid for AB Ports would cheer me no end ..... All that is required is for the alleged strong rumour to be true ..... and of course a surge by VOG back to where they deserve to be, and a definite positive result from Eagle 1 for EME ..... similar from their Glantal gas project would be icing on the cake.

Cynic, I'm flagging AAU more as one to watch. After giving it some more thought I should think there's a lot more fundraising in the pipeline which will mean a fair bit more dilution. This summer could see buying opportunities for anyone really long-terming it, but near-term there's probably more value to be had in projects like Ridge Mining.

PS The end of the world is not on its way - it has already happened and we're now in the stage where people murder entire families for a tank of petrol and we all start sporting really bad haircuts and wearing clothes made out of motorcycle parts.

I've always thought it a shame how the first casualty of the apocalypse is style.

Ariana Resources PLC - Kiziltepe Drilling Underway
RNS Number:9866H
Ariana Resources PLC
23 August 2006


23 August 2006

AIM: AAU
DRILLING UNDERWAY AT KIZILTEPE GOLD PROSPECT

Ariana Resources plc ('Ariana' or 'the Company'), the gold exploration company
focused exclusively on Turkey, announces the commencement of a 3,700m diamond
drilling programme at the Kiziltepe prospect within the Company's 100% owned
Sindirgi gold project in western Turkey.

* Drill rig mobilised and phase one of a 3,700m diamond core programme
underway
* Previous intersections include 6.29 g/t Au over 13.5m from channel
sampling at surface
* Kiziltepe prospect hosts at least 19km in strike length of gold-silver
bearing quartz veins

A total of 37 drill holes are planned at the Kiziltepe prospect to depths of up
to 150m. The programme has been designed to test the depth and grade
continuation of five principal gold-silver bearing epithermal quartz veins,
namely, Arzu South, Arzu North, Banu, Hale and Vein 5. A key objective of the
current programme is to define an initial gold resource for the Arzu South vein
in compliance with the JORC code. Drilling on the Arzu South vein is expected to
be completed by late November 2006 and initial results announced thereafter.

Ariana acquired the Kiziltepe prospect as part of the Sindirgi gold project from
Newmont Altin Madencilik Limited Sirketi, a subsidiary of Newmont Mining
Corporation (NYSE & ASX: NEM; TSX: NMC) ('Newmont') in January 2005. Newmont
retains a Net Smelter Returns royalty of up to 2.5% on future gold production
from the Sindirgi project.

Independent technical consultants SRK (UK) Limited have previously prepared a
geological model of 150,000 ounces at Arzu South (not a resource as defined by
the JORC code), representing approximately 5% of the known vein system at
Kiziltepe, based on an average gold grade of 4.2 g/t to an approximate depth of
150m.


Steven Poulton, Chief Executive, commented:

'The start of drilling at the Kiziltepe prospect, which hosts over 19km in
strike length of gold-silver bearing epithermal quartz veins, represents a
significant milestone towards defining an initial resource estimate. Our
decision to focus on the Arzu South vein is based on encouraging drilled
intersections reported by previous operators including 7.23 g/t over 10m and
extensive channel sampling by Ariana which returned grades of up to 6.29 g/t Au
over 13.5m.

'With a strong balance sheet from our successful 2 million financing in May
2006, a portfolio of prospective projects and a strong technical team on the
ground, Ariana is extremely well placed to deliver value for its shareholders.'


Contacts:

Ariana Resources plc
Steven Poulton, Chief Executive Tel: 01235 511 767
s.j.poulton@arianaresources.cominfo@arianaresources.com Mobile: 0797 408 6712

Bankside Consultants
Michael Padley / Susan Scott Tel: 020 7367 8888


About the Kiziltepe prospect

The Kiziltepe prospect lies within a 36 km2 ten-year renewable operating licence
which forms part of the Company's 100% owned 224 km2 Sindirgi gold project in
Balikesir Province, western Turkey. The project area lies approximately 100km
east of the one million ounce vein-hosted Ovacik gold mine and 115km northwest
of the five million ounce Kisladag gold mine.

Kiziltepe hosts at least 19km in strike length of gold-silver bearing
low-sulphidation epithermal quartz veins across an area of at least 3km by 1km.
Individual veins are exposed for up to 700m and widths vary between 1m and 14m.
The main veins trend NW, dip to the northeast and are hosted within Miocene age
andesitic volcanic rocks. The majority of exploration work to date at Kiziltepe
has focused on the Arzu South vein, where results from drilling by previous
owners include intersections of 7.23 g/t over 10m and 10.55 g/t over 7.5m.
Channel sampling by Ariana (previously reported in November 2005) returned a
best intersect of 6.29 g/t Au over 13.5m.

Sampling and Assaying Procedures

The drill core will be transported to the Company's core storage facility in the
local town of Sindirgi for logging, splitting and photographing. Half the core
will be prepared as one meter samples and sent to the ALS Chemex preparation
facility in Izmir and a 50g fire assay undertaken at the ALS Chemex laboratory
in Vancouver. Regular standard, duplicate and blank samples are being used in
the sample sequence in line with the Company's quality control procedures.

The drilling program will be managed by Ariana's exploration team under the
supervision of Dr Kerim Sener (Exploration Director) and Mr Muhannad Arar
(Projects Manager). Dr Sener is a graduate of the University of Southampton in
Geology, he also holds a Master's degree from the Royal School of Mines (
Imperial College, London) in Mineral Exploration and a doctorate from the
University of Western Australia. He is a Fellow of The Geological Society of
London and has worked in geological research and mineral consultancy in Southern
Africa and the Northern Territory of Australia. He has read and approved the
technical disclosure in this regulatory announcement.

About Ariana Resources

Ariana is a well funded technology-driven exploration company focused on the
discovery of epithermal gold-silver and porphyry copper-gold deposits with
multi-million ounce potential within the Tethyan metallogenic belt of Turkey.
The Company has a portfolio of prospective licences covering approximately
1,000km2, selected on the basis of its advanced in-house remote sensing
database. Ariana's broker is Ambrian Partners Limited and Beaumont Cornish
Limited is the Company's nominated adviser. For further information on Ariana
you are invited to visit the Company's website at www.arianaresources.com.


This information is provided by RNS
The company news service from the London Stock Exchange

END

Am I alone in suspecting that this little company could well be worth a punt?

Soul t

No I am watching with interest !! up 2 so far drilling started at kiziltepe ,but debating on oxs but aau is on watch list

georgetrio

I have not found out much new info on Ariana Resources, how ever if it takes a drop again this week may have a go, but will keep doing research. last news 23Aug closed today at 12 mid.??

Smiler, I continue to watch too - with far more concentration than before, I hasten to add!

The period between now and the drilling results could provide buying opportunities. AAU looks cheap compared with STI (compare also PGD, but that's not in Turkey!), but has better prospects unless I've missed something.

WDIK, PDYOR, etc.

Just noticed the price drop today (told you I was concentrating ;o) !!).

Looks like the last buys went through at 12p, but it's difficult to tell as my broker has assigned these as "?".

I find it hard to believe that it has dropped back to previous levels after the recent news, and that on low volume too. As I say, I'll continue to watch and wait. Mid-July, the SP was exploring 10p - maybe it'll get back under 11 before picking up.

Soul traders

I agree, I do feel this does have potential at the right price ! lets hope the recent bomb attacks in Turkey does not put off potential investers ! interesting to see whats happens this week !

Finally got in on this (thanks to HNR's 50% jump on news of its takeover by TLW!!).

Just a small initial holding at a little under 12.5p including costs. Don't be fooled by the big spread some online brokers are posting, as it seems to bear little relevance to reality.

Anyway, I'm pleased finally to have been able to have a crack at AAU and am optimistic of a decent re-rating come the drilling results at the end of November. Patagonia Gold's (AIM: PGD) performance on its good news in the last quarter of last year ought to provide some idea of what this might do if the news from Kiziltepe is good; however, market conditions have changed so there's really no telling.

All IMO, PDYOR.

Soul T

good luck hope to join you soon as I sell my Oxs (may be a while) !! : )

Smiler, if I had some spare cash then I wouldn't be delaying too long with AAU. End of November could get pretty interesting.

Can't comment on Oxus, but I seem to remember it was 30p a few weeks back ??!!??

Soul T, oxs holding at 22/23 hope to see 35/+ then i will sell and get in to AAU, I do also like the look of BGF, the price has droped to 7.50 ish but some time off at the moment but a good price to get in at IMHO

Interim results out today. No surprises, but they do have 2 million in cash and appear to be making good progress on projects.

More very good news out today, with an RNS announcing a large increase in AAU's licence portfolio.

Stock News - RNS
Ariana Resources PLC - Licence Portfolio Increase
RNS Number:2808K
Ariana Resources PLC
11 October 2006

11 October 2006

AIM: AAU

LICENCE PORTFOLIO SIGNIFICANTLY INCREASED

HIGH PRIORITY TARGETS STAKED


Ariana Resources plc ('Ariana' or 'the Company'), the gold exploration company
focused exclusively on Turkey, announces a significant expansion to its
exploration portfolio following the completion of a systematic remote-sensing
programme.


*45 new licences granted covering 698km2 across western and eastern Turkey

*Numerous high interest potential gold and porphyry copper-gold style
targets staked

*Exploration portfolio enlarged to 106 licences covering 1,755km2


The Company's generative exploration programme targets the discovery of world
class bulk-tonnage high-sulphidation style (gold and copper-gold) and vein
hosted low-sulphidation style (gold and gold-silver) deposits. At least 120
further targets have been defined from the latest programme which integrated
significant satellite-borne data (ASTER) with data in the Company's proprietary
in-house GIS platform. Forty five new exploration licences totalling 698km2 have
been secured across the highest priority targets occurring in free ground in
western Turkey (14 licences), central Turkey (14 licences) and eastern Turkey
(17 licences). Ariana's portfolio has subsequently increased to 106 licences
covering 1,755km2.


New targets generated for follow-up exploration include:


*4km x 5km anomaly in volcanic rocks in an under-explored region

*6km x 2km anomaly in complex geology similar to that found in Nevada, USA

*2km x 2km anomaly in the centre of a large volcanic complex

*Portions of a 16km long anomaly in volcanic rocks

*2km long anomaly at the contact between volcanic and metamorphosed rocks


Steven Poulton, Chief Executive, commented:

'Ariana is making excellent progress towards its strategy of defining a pipeline
of exciting projects for resource definition in Turkey. This recent programme
has secured an additional 45 licences across numerous and potentially
significant large targets.


'Meanwhile, we continue to make strong progress at our existing projects. In
western Turkey drilling is underway with two rigs active at the Company's
Sindirgi gold project that hosts over 45km of gold-silver bearing epithermal
veins and exploration is on going at the Demirci gold project.'

very good news, this could go a long way I have been with Oxs some time and this does seem undervalued IMHO Yet does not seem to be much interest ??? :)