Ariana Resources nets $33m to fund Turkish gold mine

Anglo-Turkish gold explorer Ariana Resources has done a $33m funding deal to bring a gold-silver mine into production.Ariana has secured the finance from Turkish investment bank Turkiye Finans Katilim Bankasi to wholly fund construction of the Kiziltepe pit.Kiziltepe is the initial mine targeted at the Red Rabbit gold project in western Turkey, a joint venture between Ariana and Proccea Construction.Managing director Kerim Sener said the deal would enable it to start building the mine in the second half of 2014, subject to final permission.Shares in Ariana rose 0.28p or 31.4% to 1.15p at 15:27 in London.PW