Ariana Resources PLC (GB:AAU)
LSE:AAU
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Ariana Resources
(LSE:AAU)
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Rating:54Neutral
Price Target:
2.00 p
▲(31.58% Upside)
Action:ReiteratedDate:01/31/26
The score is held down mainly by weak underlying financial performance—ongoing operating losses and structurally negative operating/free cash flow—despite a relatively low-leverage balance sheet. Technical indicators are supportive with price above key moving averages and positive MACD, providing a partial offset. Valuation is moderate based on the provided P/E, with no dividend yield data to support the case.
Positive Factors
Low leverage / strong capital base
A very low leverage profile and a meaningful equity base provide durable financial flexibility for an exploration developer. This reduces near-term refinancing risk, allows funding of JV commitments or staged project spend, and supports partner confidence during multi-year development cycles.
Negative Factors
Persistent negative operating cash flow
Consistent operating and free cash flow deficits create ongoing funding needs. Over a multi-month horizon this increases reliance on equity raises, JV partner cash calls, or asset sales, raising dilution or execution risk and constraining the firm’s ability to self-fund project advancement.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / strong capital base
A very low leverage profile and a meaningful equity base provide durable financial flexibility for an exploration developer. This reduces near-term refinancing risk, allows funding of JV commitments or staged project spend, and supports partner confidence during multi-year development cycles.
Read all positive factors
Ariana Resources (AAU) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£49.14M
Dividend YieldN/A
Average Volume (3M)6.06M
Price to Earnings (P/E)57.5
Beta (1Y)0.31
Revenue GrowthN/A
EPS GrowthN/A
CountryUK
Employees40
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)N/A
Shares Outstanding2,656,146,700
10 Day Avg. Volume6,854,193
30 Day Avg. Volume6,063,481
Financial Highlights & Ratios
PEG Ratio-0.01
Price to Book (P/B)0.64
Price to Sales (P/S)0.00
P/FCF Ratio-6.67
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Ariana Resources Business Overview & Revenue Model
Company Description
Ariana Resources plc engages in acquisition, exploration, and development of mineral resources in Turkey. The company also explores for silver, copper, and molybdenum deposits. Its projects include the Kiziltepe Gold-Silver mine and Tavsan gold pr...
How the Company Makes Money
Ariana Resources makes money primarily by participating in the economic outcomes of mining projects it helps fund, develop, and advance—most commonly through joint-venture ownership interests rather than operating all assets directly. Its key reve...
Ariana Resources Financial Statement Overview
Summary
Income Statement
35
Negative
Balance Sheet
66
Positive
Cash Flow
28
Negative
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -123.00K | -119.00K | -74.00K | -93.00K | -44.00K | -20.00K |
| EBITDA | -1.88M | -2.63M | -1.43M | -643.00K | -2.94M | -1.37M |
| Net Income | 2.15M | 2.69M | -218.00K | 4.03M | 3.86M | 4.76M |
Balance Sheet | ||||||
| Total Assets | 44.66M | 45.59M | 21.93M | 27.90M | 30.59M | 32.01M |
| Cash, Cash Equivalents and Short-Term Investments | 424.00K | 913.00K | 4.11M | 9.38M | 16.39M | 2.98M |
| Total Debt | 1.55M | 1.50M | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 2.34M | 2.19M | 419.00K | 814.00K | 2.06M | 5.31M |
| Stockholders Equity | 42.18M | 43.27M | 21.37M | 27.06M | 28.50M | 26.70M |
Cash Flow | ||||||
| Free Cash Flow | -1.05M | -4.17M | -4.13M | -3.08M | -5.41M | 2.98M |
| Operating Cash Flow | -1.03M | -3.09M | -3.15M | -2.55M | -5.17M | 3.25M |
| Investing Cash Flow | -919.00K | 94.00K | -3.33M | -1.27M | 23.61M | -154.00K |
| Financing Cash Flow | 2.98M | 1.50M | 42.00K | -2.07M | -3.33M | 248.00K |
Ariana Resources Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | £25.19M | 1.09 | 4.67% | 2.48% | -22.04% | -75.70% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
54 Neutral | £49.14M | 57.47 | 5.02% | ― | ― | ― | |
54 Neutral | £13.40M | -3.27 | -17.24% | ― | ― | ― | |
48 Neutral | £7.86M | -163.55 | -14.14% | ― | ― | ― | |
44 Neutral | £15.16M | -46.64 | -4.26% | ― | ― | ― |
* Basic Materials Sector Average
GB:AAU
Ariana Resources
1.85
0.66
55.46%
GB:GDP
Goldplat
14.75
8.72
144.65%
GB:ORR
Oriole Resources PLC
0.28
0.12
71.88%
GB:WSBN
Wishbone Gold
26.00
14.00
116.67%
GB:LEX
Lexington Gold
3.20
-0.20
-5.88%
GB:CORA
Cora Gold
8.50
2.25
36.00%
Ariana Resources Corporate Events
Business Operations and Strategy
Ariana Intercepts High-Grade Gold, Pointing to Resource Upside at Dokwe
Positive
Mar 11, 2026
Ariana Resources has reported further strong assay results from its 2025-2026 reverse circulation drilling campaign at the 1.1Moz Dokwe Gold Project in Zimbabwe, with high-grade intercepts at Dokwe North confirming continuity of mineralisation bey...
Business Operations and StrategyShareholder Meetings
Ariana Resources Wins Shareholder Backing for All GM Resolutions
Positive
Feb 25, 2026
Ariana Resources said shareholders approved all resolutions put to its latest General Meeting, held following a January 2026 announcement outlining the proposed measures. The company will publish the detailed voting results on its website, clearin...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Ariana Resources Clears RiverFort Debt via Share Issue and Retains Undrawn Facility for Dokwe Project
Positive
Feb 4, 2026
Ariana Resources has fully settled its outstanding loan balance of about US$782,575 with RiverFort Global Opportunities by issuing 40,435,311 new ordinary shares, equivalent to roughly 4,043,531 CHESS Depository Instruments, under its existing Fac...
Business Operations and Strategy
Ariana Resources to Court Investors at 121 Mining Investment Conference in Cape Town
Positive
Feb 2, 2026
Ariana Resources announced it will attend the 121 Mining Investment Conference in Cape Town on 9–10 February 2026 to meet existing and prospective investors. By participating in this high-profile investor event, the company aims to strengthe...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Ariana Resources Secures Funding for Dokwe as Turkish Mines Deliver Record Revenue
Positive
Jan 30, 2026
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 ...
Business Operations and StrategyRegulatory Filings and ComplianceShareholder Meetings
Ariana Resources Calls General Meeting to Meet ASX Equity Rules
Neutral
Jan 23, 2026
Ariana Resources has called a general meeting for 25 February 2026 in London, issuing a notice and proxy form to shareholders in connection with compliance requirements on the ASX. The meeting is being convened solely to satisfy the Australian exc...
Business Operations and Strategy
Ariana Resources Unveils Strong New Drilling Results at Tavşan Mine
Positive
Jan 21, 2026
Ariana Resources has reported further encouraging drilling results from the Main and South Zones of the Tavşan Mine in western Türkiye, where 3,887 metres of HQ diamond drilling across 85 holes have both confirmed existing high-grade dom...
Business Operations and Strategy
Ariana Resources Extends Mineralisation at Dokwe Central with Strong Initial Drill Results
Positive
Dec 23, 2025
Ariana Resources has reported initial assay results from its first exploration drilling campaign at the 100%-owned Dokwe Gold Project in Zimbabwe, showing that mineralisation at the Dokwe Central deposit extends well beyond the current resource en...
Business Operations and StrategyExecutive/Board ChangesPrivate Placements and Financing
Ariana Resources Secures Up to A$11m Strategic Investment from Xinhai to Advance Zimbabwe Gold Project
Positive
Dec 22, 2025
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...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.