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The latest update is out from Ariana Resources ( (GB:AAU) ).
Ariana Resources has entered a binding definitive strategic investment agreement with Hongkong Xinhai Mining Services, part of Shandong Xinhai Mining Technology & Equipment, securing A$8 million in immediate equity funding and up to A$11 million in total investment through three tranches. The deal will see Xinhai subscribe for up to 36.7 million CHESS Depositary Interests at A$0.30 each, provide A$3 million of metallurgical testwork and Definitive Feasibility Study services for Dokwe in exchange for additional CDIs, receive up to 18.3 million options exercisable at A$0.50, and nominate a director to Ariana’s board, while Ariana issues new shares and options to advisers and expands its total voting share capital to 2.62 billion shares. The funding will bolster Ariana’s working capital and accelerate technical studies at Dokwe, bringing in a large global EPC+M+O mining solutions provider as a strategic partner and shareholder with just over 10% of the company post-Tranche 1, potentially strengthening project execution capability and market positioning in African gold development.
More about Ariana Resources
Ariana Resources is a mineral exploration, development and production company with gold project interests in Africa and Europe, listed on AIM and ASX. Its current strategic focus includes advancing the Dokwe Gold Project in Zimbabwe, which it owns outright, as part of a broader portfolio of precious metals assets.
Average Trading Volume: 4,396,051
Technical Sentiment Signal: Strong Sell
Current Market Cap: £32.15M
For a thorough assessment of AAU stock, go to TipRanks’ Stock Analysis page.