Mariana Resources Ltd (LON:MARL) CEO Glen Parsons talks to DirectorsTalk about it’s completion of a successful £1.77 million Equity Raising and the position this now puts Mariana, why resource based institutions investing is a good thing, how the funds will be used and what we can expect over the coming months.
Mariana Resources Ltd is an AIM quoted exploration and development company with an extensive portfolio of gold, silver and copper projects in South America and Turkey. The company’s most advanced asset is the Hot Maden gold-copper project in NE Turkey, which is currently being advanced by our Turkish JV partner Lidya under an earn-in agreement to a 70% interest. A maiden mineral resource estimate of 2.03 Moz Gold Equivalent (Indicated Category) and 0.97 Moz Gold Equivalent (Inferred Category) (100% basis) was reported for Hot Maden on August 18, 2015. Elsewhere in Turkey, Mariana holds a 100% interest in the Ergama gold-copper project. In Suriname, the company has an option to earn up to a 50.01% interest in Nassau Gold Limited, a JV company between Mariana and Sumin Resources Limited (“Sumin”) which in turn holds an option to earn up to 80% of the Nassau Gold Project. The Nassau Gold Project is a 28,000 Ha exploration concession located approximately 125 km SE of the capital Paramaribo and immediately adjacent to Newmont Mining’s 4.2Moz Au Merian project. In southern Argentina, the Company’s core gold-silver projects are Las Calandrias (100%), Sierra Blanca (100%), Los Cisnes (100%), Bozal (100%). These projects are part of a 160,000+ Ha land package in the Deseado Massif epithermal gold-silver district in mining-friendly Santa Cruz Province. Mariana acquired 100% interests in the Doña Ines Au-Ag and Exploradora East Cu prospects in northern Chile through the Aegean Metals Group transaction which closed in January, 2015, with Mariana exploration now being funded by Asset Chile through the provision of $1.65m for a total 50% interest. In Peru, Mariana holds a portfolio of interesting very early stage properties.
