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Ariana Resources Plc (ASX:AA2)

ALERT: Price-sensitive ASX Announcement for AA2
Current share price for AA2 : $0.275 -0.01 (-3.51%)+
Announcement
Release
31 Jul 2026 8:23AM
Price at Release
$0.285
Full Release
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Summary
Ariana Resources Plc has completed the sale of its 9.9% interest in the Kiziltepe Sector in Türkiye to Proccea Construction Co. for US$3.7 million, netting US$3.3 million after taxes. This transaction strengthens Ariana's balance sheet, simplifies its portfolio, and provides non-dilutionary funding as the company advances its Definitive Feasibility Study at the Dokwe Gold Project in Zimbabwe. Ariana retains a 9.9% interest in Zenit Madencilik San. ve Tic. A.Ş. and received US$0.8 million from Zenit to settle an outstanding debt. The Kiziltepe Mine has been a significant venture for Ariana, producing over 162,000 ounces of gold and 1.78 million ounces of silver, generating substantial cash returns for the company.
Key Points
  • Ariana Resources Plc sold a 9.9% interest in the Kiziltepe Sector in Türkiye to Proccea Construction Co. for US$3.7 million.
  • The sale provides Ariana with US$3.3 million net after local taxes.
  • Ariana retains a 9.9% interest in Zenit Madencilik San. ve Tic. A.S., the operator of the Tavsan Mine and Salinbas Project.
  • Ariana received US$0.8 million from Zenit to settle an intercompany debt.
  • The transaction offers non-dilutionary funding for Ariana's Dokwe Gold Project in Zimbabwe.
  • Ariana's proforma cash as of 31 July 2026 is A$39 million.
  • The Kiziltepe Mine has produced over 162,000 ounces of gold and 1.78 million ounces of silver.
  • The transaction relieves Ariana of future liabilities related to Kiziltepe.
  • Ariana focuses on advancing its Dokwe Gold Project while maintaining interest in Zenit.
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.