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Ariana achieved gross income of US$37.8 million for the year and $51.8 million since the miner started production in mid-March 2017.
During 2018, 27,110 ounces of gold was produced and sold at Kiziltepe, up from 10,154oz in the March-December 2017 period and beating the 2018 guidance of 20,000oz.
The average realised gold price for the life of mine to date was $1,260.89 per ounce, with the average price in the December 2018 quarter at $1,237.50/oz.
Ariana did not provide other full-year numbers in the December quarter report, but said the average revenue for the quarter was $1,413.26/oz, bringing the life of mine to date average revenue to $1,333.62/oz.
It produced and sold 90,881oz of silver during the quarter.
The operating cash costs at Kiziltepe for the quarter were estimated at $349/oz, with operational mill availability running at 99% and utilisation at 97% during December.
The cash cost metric is unusual for a gold mine but the company has said it avoids an all-in sustaining cost per ounce because of the JV arrangement.
Ariana milled 49,717 tonnes of ore during the December quarter at an average head grade of 5.23 g/t gold, with ore production from the openpit at an average rate of 19,852t per month over the quarter, with a peak rate of over 26,840t achieved in October.
Process recoveries of gold were high at around 92% at the end of the quarter.
Managing director Kerim Sener said the results had been in line with the Kiziltepe's performance in the prior two quarters.
"Operating cash cost per ounce remains low, mainly due to the maintenance of significant by-product silver credit and increased grades through the plant during the period," he said.
Sener said Ariana had repaid back half of the joint venture construction capital loan of $33 million by the end of 2018, with the remaining half to be mostly repaid in 2019. The loan is due for completion by April 2020.
Kiziltepe is operated by Zenit Madencilik San. ve Tic. A.S, a 50:50 JV between Ariana and Proccea.
Once Ariana pays back all loans, the JV profit arrangement will change to 51:49 in Ariana's favour.
