Ariana raises A$11 million on Australia listing; to use funds on Zimbabwe project

By Agencies

Ariana Resources CEO Kerim Sener says the A$11 million raised through its new ASX listing will be used to advance its Dokwe gold project in Zimbabwe.

The listing comes at a time of rising gold prices and growing Australian investor interest in African projects.

Sener explained that the ASX listing comes at a time of rising gold prices and growing investor interest in the sector.

“The timing, as it turned out, is perfect because we’re into another very significant rise in the gold price.”

The listing gives the company exposure to a new pool of Australian investors who are already familiar with African exploration and development opportunities.

Sener said the majority of the A$11 million raised through the listing will go towards progressing feasibility work at Dokwe.

This includes a significant drilling program across Dokwe North and Dokwe Central, targeting both resource conversion and extension. Around 3,000m of drilling is also planned for a new arsenic-gold anomaly identified northeast of Dokwe North.

The ASX listing complements Ariana’s existing AIM listing and introduces added flexibility for investors, allowing conversion between ordinary shares and CDIs. Sener added that the listing opens access to capital from both London and Australia.

Looking ahead, Ariana expects to release a series of updates from Zimbabwe, starting with drilling activity and progressing with the broader feasibility study.