Top Page
Ariana Resources
(LSE:AAU)
Ariana Resources (AAU) vs. iShares MSCI United Kingdom ETF (EWC)
Ariana Resources Business Overview & Revenue Model
Ariana Resources Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
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
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
61 Neutral | £14.94M | 14.34 | 4.81% | 2.48% | -22.04% | -75.70% | |
54 Neutral | £15.48M | -6.50 | -16.46% | ― | ― | ― | |
51 Neutral | £28.71M | -7.14 | -14.14% | ― | ― | ― | |
49 Neutral | £39.24M | 12.50 | 5.54% | ― | ― | ― | |
44 Neutral | £18.71M | -35.83 | -4.26% | ― | ― | ― |
Ariana Resources Corporate Events
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 envelope. Key intercepts from hole DRC9, including 14 metres at 2.17 g/t gold with a higher-grade 6 metres at 4.15 g/t, confirm extensions to the South Zone and suggest significant potential to grow the existing 100,000-ounce JORC resource, which is already considered amenable to development as a satellite pit to the larger Dokwe North deposit. With 3,317 metres of reverse circulation drilling completed and further assay results due in early 2026, Ariana plans to resume drilling after a year-end camp closure, using both RC and diamond rigs to refine resource potential and support feasibility and metallurgical work, underlining Dokwe’s growing strategic importance within the company’s gold portfolio.
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.
Ariana Resources PLC has provided an update on its exploration drilling at the Dokwe Gold Project in Zimbabwe, where 2,411 meters have been drilled out of a planned 4,000-meter program. The drilling has revealed strong geological indicators such as silicification, pyritization, and shearing, suggesting significant potential at Dokwe Central. The company is using real-time data from portable XRF and magnetic susceptibility to enhance geological interpretations and adapt the drilling program. Ariana plans to extend the drilling program and is awaiting assay results, which are expected by the end of the year, to further understand the mineralization and resource potential.
Ariana Resources has entered into a strategic investment agreement with Hongkong Xinhai Mining Services Ltd., part of Shandong Xinhai Mining Technology & Equipment Inc., to advance the Dokwe Gold Project in Zimbabwe. The agreement includes an A$8 million investment and technical services to conduct a Metallurgical Sampling and Testwork Programme and complete a Definitive Feasibility Study. This partnership aims to accelerate the project’s development towards production, potentially enhancing Ariana’s market position and creating long-term value for stakeholders.
Ariana Resources has successfully completed its first gold-silver doré pour at the Tavşan Mine in Türkiye, marking a significant milestone in its mining operations. The mine, which is part of the Zenit Mining Operations, is expected to ramp up production and reach steady-state by Q2 2026, becoming a primary gold-producing asset for the company. This development is poised to enhance Ariana’s cash generation capabilities and solidify its industry positioning as it shifts focus from the Kiziltepe to Tavşan operations.
Ariana Resources has completed a drilling program at the Kizilcukur site in Türkiye, identifying potential extensions to the mineralization zones that could serve as satellite ore feed for the Kiziltepe Gold-Silver Mine. The drilling results have shown promising gold and silver intercepts, and the company is working towards integrating Kizilcukur into the Kiziltepe mining operations, with a target to commence operations by late 2026, pending environmental permitting.
Ariana Resources PLC announced its participation in the Mines and Money @ Resourcing Tomorrow conference, scheduled for December 2-4, 2025, in London. The company will be available to meet with interested parties on December 4 and will provide an updated corporate presentation accessible to stakeholders via its website. This engagement highlights Ariana’s proactive approach to investor relations and its commitment to transparency with stakeholders.
Ariana Resources has announced significant results from its ongoing drilling program at the Tavsan Mine in western Türkiye, where it holds a 23.5% interest. The latest assay results from 71 holes in the Tavsan North Zone have confirmed the extension of mineralization beyond the current JORC Resource, indicating potential for resource expansion and increased mine life. This development is expected to enhance Ariana’s resource base and strengthen its position in the gold mining industry, with a JORC Resource update anticipated by Q3 2026.
Ariana Resources has commenced exploration drilling at its Dokwe Gold Project in Zimbabwe, aiming to test several target areas and identify potential for future resource expansion. The initial drilling campaign consists of 26 holes over 4,000 meters, focusing on major shear zones that contain over 1 million ounces of gold. The company anticipates initial assay results by the end of the year and is considering expanding the drilling program to include metallurgical purposes, which could significantly impact future feasibility studies and resource estimates.
Ariana Resources PLC reported significant progress in its operations for the quarter ended September 30, 2025. The company completed a major soil geochemical program at the Dokwe Gold Project in Zimbabwe, identifying new drill-testing areas, and commenced preparations for a 26-hole RC drilling campaign. Additionally, the Tavsan Gold Mine in Türkiye was commissioned, with ore loading on the heap-leach pad beginning shortly after the quarter’s end. Ariana also successfully completed a dual-listing on the ASX, raising A$11 million to advance the Dokwe Gold Project. These developments are expected to enhance Ariana’s operational capabilities and strengthen its market position.
Ariana Resources has announced a significant exploration update for its Dokwe Gold Project in Zimbabwe, where exploration drilling is set to commence. The project has identified several new target areas, with soil sampling revealing potential gold mineralization along shear zones. The company aims to drill test these zones, which have shown promising historical intercepts, suggesting considerable upside potential for gold discovery.
Ariana Resources has announced the commencement of a drilling programme at its Dokwe Gold Project in Zimbabwe, with the aim of exploring high-priority targets and extending known deposits. The initiative, involving a 26-hole programme, is expected to yield initial assay results by year-end, potentially impacting the company’s resource estimates and market positioning.
Ariana Resources PLC announced its participation in MarketOpen’s Investor Sundowner event on October 16, 2025, in Leederville, Australia. This event, organized by MarketOpen, a digital media and events business, aims to connect companies with investors and is free for investors and brokers. Ariana’s involvement in such events highlights its proactive approach to engaging with stakeholders and enhancing its visibility in the investment community.
Ariana Resources has announced the commencement of operations at the Tavşan Heap-leach Project in Türkiye, following the receipt of final operational permits. This development marks a significant milestone for the company, as it anticipates starting gold production within the current quarter. The project, operated by Zenit Madencilik San. ve Tic. A.S., of which Ariana owns 23.5%, is expected to enhance Ariana’s gold production capacity and strengthen its market position, particularly in light of rising gold and silver prices. The project has a projected mine life of eight years, with potential for further resource growth.