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Pin to quick picksAriana Regulatory News (AAU)

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Appoints Lead Manager for Planned ASX Dual-Listing

26 Sep 2024 07:00

RNS Number : 6691F
Ariana Resources PLC
26 September 2024
 

 

26 September 2024

AIM: AAU

ARIANA APPOINTS LEAD MANAGER FOR PLANNED ASX DUAL-LISTING

Ariana Resources plc ("Ariana" or "the Company"), the AIM-listed mineral exploration and development company with gold project interests in Africa and Europe, is pleased to announce the appointment of Australian capital markets firm Ord Minnett Limited ("Ord Minnett") as Lead Manager to its proposed dual-listing on the Australian Securities Exchange ("ASX"), which is targeted for completion by the end of the 2024 calendar year.

The proposed ASX listing will provide investors in Ariana exposure in a market that understands and supports small-to-medium-sized gold explorers and developers and is intended to provide greater access to capital and increased liquidity, potentially facilitating an improved valuation for the Company. Ariana investors who wish to trade Ariana securities on the ASX will also have the opportunity to transfer their existing shareholdings to the proposed Australian register if they wish to do so.

Further, Ariana is considering an equity raising as part of the ASX dual-listing, with any funds raised to be directed towards the exploration and technical studies planned at the Company's 100%-owned Dokwe Gold Project in Zimbabwe. The exact timing of Ariana's ASX listing and the quantum of any capital raised in conjunction with the listing is to be decided.

The Company will be providing a revised Corporate Presentation on the website, which will be made available later today.

Dr. Kerim Sener, Managing Director, commented:

"We are very excited with our plans for a dual-listing of Ariana on the ASX, a market with a strong understanding of mining developers and explorers, particularly in the gold space. Being personally based in Perth, Western Australia, I am particularly looking forward to being able to provide the Australian mining investment community with an opportunity to become shareholders of our Company. We see numerous benefits for shareholders in an ASX dual-listing and look forward to working alongside Ord Minnett to accomplish our ASX listing."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

 

 

Contacts:

 

Ariana Resources plc

Tel: +44 (0) 20 7407 3616

Michael de Villiers, Chairman

Kerim Sener, Managing Director

Beaumont Cornish Limited (Nominated Adviser)

Tel: +44 (0) 20 7628 3396

Roland Cornish / Felicity Geidt

Ord Minnett Limited (Lead Manager - Australia)

Tel: +61 2 8916 0124

Damien Gullone / Robbie Dowling / Joe Hansen

Panmure Liberum (Joint Broker)

Tel: +44 (0) 20 7886 2500

Kieron Hodgson / Atholl Tweedie / Rauf Munir

Zeus Capital Limited (Joint Broker)

Harry Ansell / Katy Mitchell / George Krokos

Yellow Jersey PR Limited (Financial PR)

Tel: +44 (0) 203 829 5000

 

Tel: +44 (0) 7983 521 488

Dom Barretto / Shivantha Thambirajah /Bessie Elliot

arianaresources@yellowjerseypr.com

 

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.

 

Editors' Note:

 

About Ariana Resources:

Ariana is an AIM-listed mineral exploration and development company with an exceptional track-record of creating value for its shareholders through its interests in active mining projects and investments in exploration companies. Its current interests include a major gold development project in Zimbabwe, gold production in Türkiye and copper-gold exploration and development projects in Cyprus and Kosovo.

 

Ariana owns 100% of the Dokwe Gold Project ("Dokwe") in Zimbabwe. Dokwe is made up of the Dokwe North and Dokwe Central gold deposits which are located in the Tsholotsho District near the city of Bulawayo. The deposits have a combined JORC Measured, Indicated and Inferred Resource of over 1.83 million ounces of gold (as at June 2024) and the project represents the largest undeveloped gold project in Zimbabwe.

 

The Company holds 23.5% interest in Zenit Madencilik San. ve Tic. A.S. a joint venture with Ozaltin Holding A.S. and Proccea Construction Co. in Türkiye which contains a depleted total of c. 2.2 million ounces gold equivalent (as at March 2024, using a price ratio of 90 Ag to 1 Au). The joint venture comprises the Kiziltepe Mine and the Tavsan and Salinbas projects.

 

The Kiziltepe Gold-Silver Mine is located in western Türkiye and contains a depleted JORC Measured, Indicated and Inferred Resource of 171,700 ounces gold and 3.3 million ounces silver (as at March 2024). The mine has been in profitable production since 2017 and has been producing at an average rate of c.22,000 ounces of gold per annum. A Net Smelter Return ("NSR") royalty of 2.5% on production is being paid to Franco-Nevada Corporation.

 

The Tavsan Gold Mine is located in western Türkiye and contains a JORC Measured, Indicated and Inferred Resource of 311,000 ounces gold and 1.1 million ounces silver (as at March 2024). Following the approval of its Environmental Impact Assessment and associated permitting, Tavsan is being developed as the second gold mining operation in Türkiye and is currently in construction. A NSR royalty of up to 2% on future production is payable to Sandstorm Gold.

 

The Salinbas Gold Project is located in north-eastern Türkiye and contains a JORC Measured, Indicated and Inferred Resource of 1.5 million ounces of gold (as at July 2020). It is located within the multi-million ounce Artvin Goldfield, which contains the "Hot Gold Corridor" comprising several significant gold- copper projects including the 4 million ounce Hot Maden project, which lies 16km to the south of Salinbas. A NSR royalty of up to 2% on future production is payable to Eldorado Gold Corporation.

 

Ariana owns 76% of UK-registered Western Tethyan Resources Ltd ("WTR"), which operates across south-eastern Europe and is based in Pristina, Republic of Kosovo. The company is targeting its exploration on major copper-gold deposits across the porphyry-epithermal transition. WTR is being funded through a five-year Alliance Agreement with Newmont Mining Corporation (www.newmont.com) and is separately earning-in to up to 85% of the Slivova Gold Project.

 

Ariana owns 61% of UK-registered Venus Minerals PLC ("Venus") which is focused on the exploration and development of copper-gold assets in Cyprus which contain a combined JORC Indicated and Inferred Resource of 16.6Mt @ 0.45% to 0.80% copper (excluding additional gold, silver and zinc.

 

Ariana owns several investments in listed and private companies via its Australian subsidiary Asgard Metals Pty. Ltd. ("Asgard"), which also provides technical input into the various investee company exploration programmes. Investments have been made in high-value potential, discovery-stage mineral exploration companies located across the Eastern Hemisphere and within easy reach of Ariana's operational hubs in Australia, Türkiye, UK and Zimbabwe. Its most advanced interest is through a 5.5% holding of Panther Metals Limited (ASX: PNT).

 

Panmure Liberum Limited and Zeus Capital Limited are brokers to the Company and Beaumont Cornish Limited is the Company's Nominated Adviser.

 

For further information on Ariana, you are invited to visit the Company's website at www.arianaresources.com.

 

Ends.

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UPDLAMJTMTATBFI
Date   Source Headline
11th Nov 20247:00 amRNSStrategic Project Financing
24th Oct 20247:00 amRNSDokwe Project Exploration Upside
30th Sep 20247:00 amRNSInterim Results
26th Sep 20247:00 amRNSAppoints Lead Manager for Planned ASX Dual-Listing
28th Aug 20247:00 amRNSHizarliyayla Drilling and Geophysics Results
22nd Aug 20247:00 amRNSReorganisation of Interests in Türkiye
31st Jul 20247:00 amRNSWestern Tethyan Resources Limited Update
19th Jul 20242:07 pmRNSResult of AGM
15th Jul 20247:00 amRNSChange of Broker
10th Jul 20247:00 amRNS1.2Moz In-Pit Optimised Dokwe Gold Resource
1st Jul 20247:00 amRNSCompletion of Acquisition by Merger
26th Jun 20241:09 pmRNSResult of General Meeting
24th Jun 20247:30 amRNSDokwe Project: Results of detectORE™ Trial
24th Jun 20247:00 amRNSFinal Results for the Year Ended 31 December 2023
13th Jun 20247:00 amRNSDokwe Project: Revised Mineral Resource Estimate
10th Jun 20241:59 pmRNSNOTICE OF GENERAL MEETING
6th Jun 20247:00 amRNSDokwe Project: Due Diligence Completion
4th Jun 20247:00 amRNSCompletion of Drilling Programme at Salinbas
29th May 20247:00 amRNSZenit Mining Operations Update
9th May 20247:00 amRNSDokwe Gold Project Revised Pre-Feasibility Study
3rd May 20247:00 amRNSAttendance at 121 Mining Investment, London
1st May 20247:00 amRNS2024 Production Guidance
29th Apr 20247:00 amRNSAriana Resources to host Investor Webinar
25th Apr 20247:00 amRNSMerger with Rockover Holdings and Dual-List on ASX
11th Apr 20245:37 pmRNSHolding(s) in Company
26th Mar 20247:00 amRNSResource and Reserves Update
12th Mar 20247:00 amRNSHigh-Grade Drilling Results at Tavsan
22nd Feb 20247:00 amRNSFinal Drilling Results Received for Kizilcukur
15th Feb 20247:00 amRNSDokwe Due-Diligence Update
31st Jan 20247:00 amRNSAsgard Portfolio Update
17th Jan 20247:00 amRNS2023 Production Results and General Update
21st Dec 20237:00 amRNSSignificant New Drilling Results at Tavsan
6th Dec 20237:00 amRNSFurther Positive Drilling Results at Hizarliyayla
4th Dec 20237:00 amRNSCorporate Presentation
30th Nov 20237:00 amRNSSignificant Drilling Results at Salinbas
28th Nov 20237:00 amRNSDrilling Completed at Kizilcukur
22nd Nov 20237:00 amRNSDue Diligence Drilling Commences in Zimbabwe
20th Nov 20237:00 amRNSAttendance at Mines and Money London
13th Nov 20237:00 amRNSYear-End Update on Asgard Investments
18th Oct 20237:00 amRNSWestern Tethyan - Diamond Drilling Commences
29th Sep 20239:00 amRNSInterim Results
6th Sep 20237:00 amRNSWestern Tethyan - Slivova Positive PEA
23rd Aug 202310:00 amRNSGold Sponsor at the Society of Economic Geologists
16th Aug 20237:00 amRNS2023 Half-Year Production Results
15th Aug 20237:00 amRNSCurrent Exploration & Development at Kiziltepe
24th Jul 20237:00 amRNSKizilcukur Drilling and New Geophysical Targets
20th Jul 20237:00 amRNSVenus Minerals IPO Proceeding
19th Jul 20237:00 amRNSTavsan Mine Construction Recommences
17th Jul 20237:00 amRNSWestern Tethyan - Slivova Resource Update
29th Jun 202311:06 amRNSResult of AGM

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