29 January 2025
AIM: AAU
ISSUE OF
EQUITY
TOTAL VOTING
RIGHTS
Ariana Resources plc ("Ariana" or
"the Company"), the AIM-listed mineral exploration and development
company with gold project interests in Africa and Europe, is
pleased to announce the issue of 28,880,000 new ordinary shares in
the Company in connection with the further investment by Newmont
Ventures Limited ("Newmont") announced yesterday,
28 January 2025 ("New Ordinary
Shares").
Pursuant to Newmont investing a
further US$871k in Ariana based on a 30-day volume-weighted average
price ("VWAP") calculated to the 18 December 2024, the Company is
issuing the New Ordinary Shares, which will rank pari passu with
existing ordinary shares, at a price of 2.375p per
share.
Application will be made for the New
Ordinary Shares to be admitted to trading on AIM ("Admission"), and
Admission is expected on or around 4 February 2025.
At Admission, the Company's issued
share capital will consist of 1,863,061,328 ordinary shares with a
nominal value of 0.1p each, with voting rights ("Ordinary Shares").
The Company does not hold any Ordinary Shares in Treasury.
Therefore, the total number of Ordinary Shares in the Company with
voting rights is 1,863,061,328
The above figure of 1,863,061,328
Ordinary Shares may be used by shareholders in the Company as the
denominator for the calculations by which they will determine if
they are required to notify their interest in, or a change to their
interest in, the share capital of the Company under the FCA's
Disclosure Guidance and Transparency Rules.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
Contacts:
Ariana Resources plc
|
Tel: +44 (0) 20 7407 3616
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Michael de Villiers,
Chairman
|
|
Kerim Sener, Managing
Director
|
|
Beaumont Cornish Limited (Nominated Adviser)
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Tel: +44 (0) 20 7628 3396
|
Roland Cornish / Felicity
Geidt
|
|
Panmure Liberum (Joint Broker)
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Tel: +44 (0) 20 7886 2500
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Atholl Tweedie / Rauf
Munir
|
|
Zeus Capital Limited (Joint Broker)
Harry Ansell / Katy Mitchell /
George Krokos
Yellow Jersey PR Limited (Financial PR)
|
Tel: +44 (0) 203 829 5000
Tel: +44 (0) 7983 521 488
|
Dom Barretto / Shivantha Thambirajah
/
Bessie Elliot
|
arianaresources@yellowjerseypr.com
|
Beaumont Cornish Limited ("Beaumont Cornish") is the Company's
Nominated Adviser and is authorised and regulated by the FCA.
Beaumont Cornish's responsibilities as the Company's Nominated
Adviser, including a responsibility to advise and guide the Company
on its responsibilities under the AIM Rules for Companies and AIM
Rules for Nominated Advisers, are owed solely to the London Stock
Exchange. Beaumont Cornish is not acting for and will not be
responsible to any other persons for providing protections afforded
to customers of Beaumont Cornish nor for advising them in relation
to the proposed arrangements described in this announcement or any
matter referred to in it.
Editors' Note:
About Ariana Resources:
Ariana is an AIM-listed mineral
exploration and development company with an exceptional
track-record of creating value for its shareholders through its
interests in active mining projects and investments in exploration
companies. Its current interests include a major gold development
project in Zimbabwe, gold production in Türkiye and copper-gold
exploration and development projects in Cyprus and
Kosovo.
Ariana owns 100% of the Dokwe Gold Project ("Dokwe") in
Zimbabwe. Dokwe is made up of the Dokwe North and Dokwe Central
gold deposits which are located in the Tsholotsho District near the
city of Bulawayo. The deposits have a combined JORC Measured,
Indicated and Inferred Resource of over 1.83 million ounces of gold
(as at June 2024) and the project represents the largest
undeveloped gold project in Zimbabwe.
The Company holds 23.5% interest
in Zenit Madencilik San. ve Tic.
A.S. a
joint venture with Ozaltin Holding A.S. and Proccea Construction
Co. in Türkiye which contains a depleted total of c. 2.2 million
ounces gold equivalent (as at March 2024, using a price ratio of 90
Ag to 1 Au). The joint venture comprises the Kiziltepe Mine and the
Tavsan and Salinbas projects.
The Kiziltepe Gold-Silver Mine is located in western Türkiye
and contains a depleted JORC Measured, Indicated and Inferred
Resource of 171,700 ounces gold and 3.3 million ounces silver (as
at March 2024). The mine has been in profitable production since
2017 and has been producing at an average rate of c.22,000 ounces
of gold per annum. A Net Smelter Return ("NSR") royalty of 2.5% on
production is being paid to Franco-Nevada Corporation.
The Tavsan Gold Mine is located in western Türkiye
and contains a JORC Measured, Indicated and Inferred Resource of
311,000 ounces gold and 1.1 million ounces silver (as at March
2024). Following the approval of its Environmental Impact
Assessment and associated permitting, Tavsan is being developed as
the second gold mining operation in Türkiye and is currently in
construction. A NSR royalty of up to 2% on future production is
payable to Sandstorm Gold.
The Salinbas Gold Project is located in north-eastern
Türkiye and contains a JORC Measured, Indicated and Inferred
Resource of 1.5 million ounces of gold (as at July 2020). It is
located within the multi-million ounce Artvin Goldfield, which
contains the "Hot Gold Corridor" comprising several significant
gold- copper projects including the 4 million ounce Hot Maden
project, which lies 16km to the south of Salinbas. A NSR royalty of
up to 2% on future production is payable to Eldorado Gold
Corporation.
Ariana owns 76% of
UK-registered Western Tethyan Resources Ltd ("WTR"), which operates across south-eastern Europe and is
based in Pristina, Republic of Kosovo. The company is targeting its
exploration on major copper-gold deposits across the
porphyry-epithermal transition. WTR is being funded through a
five-year Alliance Agreement with Newmont Ventures Limited
(www.newmont.com) and is separately earning-in to up to 85% of the
Slivova Gold Project.
Ariana owns 61% of
UK-registered Venus Minerals PLC ("Venus")
which is focused on the exploration and development of copper-gold
projects in Cyprus, some of which are in application, containing a
combined JORC Indicated and Inferred Resource of 16.6Mt @ 0.45% to
0.80% copper (excluding additional gold, silver and
zinc).
Ariana owns several investments in
listed and private companies via its Australian subsidiary
Asgard Metals
Pty. Ltd. ("Asgard"), which also
provides technical input into the various investee company
exploration programmes. Investments have been made in high-value
potential, discovery-stage mineral exploration companies located
across the Eastern Hemisphere and within easy reach of Ariana's
operational hubs in Australia, Türkiye, UK and Zimbabwe. Its most
advanced interest is through a 2% holding of Panther Metals Limited
(ASX: PNT).
Panmure Liberum Limited and Zeus
Capital Limited are brokers to the Company and Beaumont Cornish
Limited is the Company's Nominated Adviser.
For further information on Ariana,
you are invited to visit the Company's website at
www.arianaresources.com.
Ends.