Appoints Lead Manager for Planned ASX Dual-Listing
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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 appointment of Australian capital markets firm Ord Minnett Limited ("Ord Minnett") as Lead Manager to its proposed dual-listing on the Australian Securities Exchange ("ASX"), which is targeted for completion by the end of the 2024 calendar year.
The proposed ASX listing will provide investors in Ariana exposure in a market that understands and supports small-to-medium-sized gold explorers and developers and is intended to provide greater access to capital and increased liquidity, potentially facilitating an improved valuation for the Company. Ariana investors who wish to trade Ariana securities on the ASX will also have the opportunity to transfer their existing shareholdings to the proposed Australian register if they wish to do so.
Further, Ariana is considering an equity raising as part of the ASX dual-listing, with any funds raised to be directed towards the exploration and technical studies planned at the Company's 100%-owned Dokwe Gold Project in Zimbabwe. The exact timing of Ariana's ASX listing and the quantum of any capital raised in conjunction with the listing is to be decided.
The Company will be providing a revised Corporate Presentation on the website, which will be made available later today.
Kerim Sener, Managing Director, commented:
"We are very excited with our plans for a dual-listing of Ariana on the ASX, a market with a strong understanding of mining developers and explorers, particularly in the gold space. Being personally based in Perth, Western Australia, I am particularly looking forward to being able to provide the Australian mining investment community with an opportunity to become shareholders of our Company. We see numerous benefits for shareholders in an ASX dual-listing and look forward to working alongside Ord Minnett to accomplish our ASX listing."
Editors' Note:
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.