Profits for the six months ended 30 June 2020 were little changed at £2.23mln (£2.3mln) with higher gold prices compensating for lower grades at the Kiziltepe mine.
Strong cashflow has seen Ariana pay off the construction loan for Kiziltepe and attention has switched to boosting the resources across the Red Rabbit licence area.
Ariana is in the process of establishing a joint venture with construction group Oziltan, which it said earlier this week will see it pay a special dividend on completion.
The joint venture will develop the Salinbas project, which Ariana sees as a 50,000 oz a year gold project over a ten-year life.
Ariana added it has also completed its initial earn-in at Cyprus-focused Venus Minerals, where its stake has now risen to 12%.
Published at Wed, 30 Sep 2020 13:35:00 +0000-Ariana Resources on course for 2020 production target