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Ariana's Red Rabbit JV exceeds FY'18 gold output guidance by 36%

Ariana Resources PLC's production in 2018 from its Kiziltepe mine in Turkey beat guidance by about 36%.

The mine produced 27,110 ounces, exceeding the full-year guidance of 20,000 ounces, according to a Jan. 14 release.

Gold production in the fourth quarter of 2018 slipped slightly to 7,517 ounces, compared to 7,556 ounces in the third quarter.

Kiziltepe is part of the Red Rabbit joint venture with Proccea Construction Co. and is 50% owned by Ariana through its shareholding in Zenit Madencilik San ve Tic AS.