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Ariana Resources Plc (ASX:AA2)

ALERT: Price-sensitive ASX Announcement for AA2
Current share price for AA2 : $0.300 -0.055 (-15.49%)+
Announcement
Release
27 May 2026 9:41AM
Price at Release
$0.355
Full Release
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Summary
Ariana Resources plc announced the completion of an optimized Pre-feasibility Study (PFS) for their Dokwe Gold Project in Zimbabwe, indicating robust project metrics. The project involves a 12-year initial open-pit mining phase followed by an 8-year stockpile processing phase, aiming for a total production of 1.06 million ounces of gold. The Ore Reserve at Dokwe North has increased by 42% to 1.13 million ounces, and the Mineral Resource Estimate has risen by 13% to 1.6 million ounces. Financially, the project is projected to generate a pre-tax NPV10 of US$1,056 million and a post-tax NPV10 of US$740 million, with an impressive IRR of 92% and a quick payback period of one year. The project anticipates total EBITDA of US$1,993 million, with Life of Mine costs at US$1,685 per ounce and an initial capital expenditure of US$164 million. The operation includes a processing plant with a capacity of 2.5Mtpa, employing both conventional CIL processing and flotation with intense leaching for mineral recovery.
Key Points
  • Pre-feasibility Study (PFS) completed for Dokwe Gold Project in Zimbabwe.
  • 12-year initial open-pit mining followed by 8-year stockpile processing for total production of 1.06 million ounces of gold.
  • Ore Reserve increased by 42% to 1.13 million ounces of gold at Dokwe North.
  • Mineral Resource Estimate increased by 13% to 1.6 million ounces of gold.
  • Pre-tax NPV10 of US$1,056 million, post-tax NPV10 of US$740 million, IRR 92%.
  • Total EBITDA of US$1,993 million with a 1-year payback period.
  • Life of Mine C1 cost is US$1,685/oz with capital expenditure of US$164 million.
  • Project involves a processing plant capacity of 2.5Mtpa.
  • Operation includes conventional CIL processing and flotation with intense leaching.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.