Ariana Resources Secures Funding for Dokwe as Turkish Mines Deliver Record Revenue

The latest announcement is out from Ariana Resources ( (GB:AAU) ).

Ariana Resources has ended 2025 with a marked acceleration of activity across its Zimbabwean and Turkish portfolios, underpinned by a binding definitive agreement with Hongkong Xinhai Mining Services for A$8 million in immediate funding and up to A$3 million more in equity-linked support to advance the Dokwe Gold Project’s metallurgical work and Definitive Feasibility Study, leaving the company with around £5.4 million in cash at year-end. At Dokwe, the company launched the first phase of an 11,000m reverse circulation drilling programme, completing 3,317m across 18 holes by year-end, with early results from hole DRC9 suggesting the Dokwe Central South Zone remains open to the south and reinforcing management’s confidence in potential resource expansion beyond the current 1.4Moz JORC-compliant estimate. In Türkiye, Ariana’s interests through Zenit delivered record production revenue of US$71.8 million from 19,517 oz of gold plus silver, driven by higher metal prices and the start of commercial heap-leach operations at the Tavşan Gold Mine, which produced its first 13.4kg gold-silver doré in December. Extensive drilling campaigns continued at Tavşan and the nearby Kizilcukur deposit, with more than 12,000m of resource and exploration drilling at Tavşan and 2,769m at Kizilcukur returning multiple high-grade gold and silver intercepts, which are expected to feed into a revised mineral resource estimate for Tavşan in the second quarter of 2026 and support ongoing optimisation of the Turkish operations. Collectively, the operational progress, record revenues and new strategic funding underscore Ariana’s efforts to solidify Dokwe as a flagship growth asset while leveraging cash flow from Türkiye, potentially enhancing its standing with strategic investors and strengthening its position in the regional gold sector.

The most recent analyst rating on (GB:AAU) stock is a Hold with a £2.00 price target. To see the full list of analyst forecasts on Ariana Resources stock, see the GB:AAU Stock Forecast page.

Spark’s Take on GB:AAU Stock

According to Spark, TipRanks’ AI Analyst, GB:AAU is a Neutral.

The score is held back primarily by weak financial performance—persistent operating losses and consistently negative operating/free cash flow—despite a low-leverage balance sheet. Technicals are neutral with slight positive momentum, and valuation (P/E ~12.7) is reasonable, but not enough to offset the cash flow and operating profitability risks.

To see Spark’s full report on GB:AAU stock, click here.

More about Ariana Resources

Ariana Resources is a mineral exploration, development and production company focused on gold projects in Africa and Europe. The AIM- and ASX-quoted group holds a 100% interest in the 1.4Moz Dokwe Gold Project in Zimbabwe and a 23.5% stake in the Kiziltepe and Tavşan gold-silver mines and the Salinbaş-Ardala project in Türkiye through its partnership in Zenit Mining Operations, giving it exposure to both growth-stage and producing assets across key emerging mining jurisdictions.

Average Trading Volume: 5,446,565

Technical Sentiment Signal: Hold

Current Market Cap: £48.39M

Learn more about AAU stock on TipRanks’ Stock Analysis page.