reports
- David Seers
Ariana Resources (AAU LN) - Dokwe – drilling update - Corporate
Ariana has today provided an update on the ongoing drill programme at its wholly owned Dokwe gold project in Zimbabwe, which already hosts 1.4Moz of pit‑constrained gold resources. The programme aims to enhance geological understanding and assess potential resource extensions prior to completion of the Feasibility Study. The RNS does not yet include gold assays but does point to improved geological knowledge and the potential for resource extensions.
- Hybridan Team
- Jon Levinson
Hybridan Small Cap Feast: 9 December 2025
9th December 2025 @HybridanLLP Our daily digest of news from UK Small Caps * A corporate client of Hybridan LLP. ** Potential means Intention to Float (ITF) or similar announcement has been made. ***Arranged by type of listing and date of announcement. ****Alphabetically arranged and priced on Share Price and Market Capitalisation during the time of writing on the day of Publication. Dish of the Day Admissions: None Delistings: Non...
- David Seers
- Paul Smith
Ariana Resources (AAU LN) - Strategic Investment for Dokwe - Corporate
Ariana has entered into a strategic investment term sheet with Hongkong Xinhai Mining Services (part of Shandong Xinhai Mining Technology & Equipment) in respect of the Dokwe gold project in Zimbabwe. The investment will provide Ariana with A$8m in immediate funding (inclusive of a A$0.5m non-refundable signing fee) for use at the Dokwe project (100% owned by Ariana); and up to A$11m following A$1m for metallurgical sampling/testwork and up to A$2m for the DFS in services, all at A$0.30 per CHES...
- Hybridan Team
- Jon Levinson
Hybridan Small Cap Feast: 3 December 2025
3rd December 2025 @HybridanLLP Our daily digest of news from UK Small Caps * A corporate client of Hybridan LLP. ** Potential means Intention to Float (ITF) or similar announcement has been made. ***Arranged by type of listing and date of announcement. ****Alphabetically arranged and priced on Share Price and Market Capitalisation during the time of writing on the day of Publication. Dish of the Day Admissions: None Delistings: Yes...
- David Seers
- Paul Smith
Ariana Resources (AAU LN) - First gold pour from Tavşan - Corporate
Ariana has poured its first gold bar (Exhibits 1 and 2) after fully commissioning its second plant, at Tavşan in Turkey. The new mine has been developed by the Zenit partnership (23.5% Ariana) and marks another major milestone for the AIM junior miner, which has now successfully developed two gold mines. Tavşan is expected to produce 25-30koz gold per year for 8 years (given its current resource base) and, we estimate, pay Ariana ~$10m/yr in dividends – cash it can use to fund its wider ambition...
- David Seers
- Paul Smith
Ariana Resources (AAU LN) - Ariana – Expanding horizons - Corporate
Ariana successfully dual listed in Australia with trading starting on the 10th September. It is a low-cost gold miner through its 23.5% holding in the Zenit partnership with an expanding production profile bringing onstream its second mine in Turkey at Tavşan. It has enjoyed incredible success in Turkey, taking two deposits from the exploration stage to mining asset. Its priority now is the Dokwe gold project in Zimbabwe – a greenfield discovery by a private company (Rockover Resources) which Ar...
- David Seers
- Paul Smith
Ariana Resources (AAU LN) - Kizilcukur drilling update - Corporate
Ariana today announces a drilling update at its Kizilcukur gold-silver project in Turkey. This is owned and operated by the Zenit Partnership (23.5% Ariana). Drill results served to extend and infill known mineralisation with the stand-out intervals of 4.9m grading 4.5g/t gold and 118g/t silver, 3.6m grading 2.9g.t gold / 78g/t silver and 1.9m grading 5.4g/t gold / 71g/t silver. The licence lies close to the Kiziltepe licence (Exhibit 1) where there stands a hungry CIL plant only ~20km away. The...
- Hybridan Team
Hybridan Small Cap Feast: 13 November 2025
13th November 2025 @HybridanLLP Our daily digest of news from UK Small Caps * A corporate client of Hybridan LLP. ** Potential means Intention to Float (ITF) or similar announcement has been made. ***Arranged by type of listing and date of announcement. ****Alphabetically arranged and priced on Share Price and Market Capitalisation during the time of writing on the day of Publication. Dish of the Day Admissions: None Delistings: ...
- David Seers
- Paul Smith
Ariana Resources (AAU LN) - Ariana quarterly update - Corporate
Ariana today updates on its quarterly results ending September 2025. It was quite a quarter for the company after completing its dual listing onto the ASX as well as declaring commissioning for its second mine in Turkey – Tavsan – owned 23.5% via the Zenit partnership which is set to produce up to 30koz gold per year. Following the A$11m raise that accompanied the dual listing, Ariana has been quick to highlight a plan to put the funds to good use. Ariana’s Dokwe project (100% owned) in Zimbabw...
- David Seers
Ariana Resources (AAU LN) - Comprehensive exploration plan at Dokwe - ...
Ariana announces a comprehensive exploration plan in and around its resources at the Dokwe project in Zimbabwe. Exploration drilling will begin shortly (Exhibit 1) after a thorough synthesis of geochemical and geophysical data that has left Ariana with anomalies which require a proper explanation. Anomalies are associated with the interpretation of major shears, usually with associated soil gold and arsenic concentrations (Exhibits 2 and 3). The drilling is being funded after the Australian dual...
- David Seers
- Paul Smith
Ariana Resources (AAU LN) - Drill rig mobilised at Dokwe - Corporate
Ariana Resources has mobilised a drill rig to its wholly owned Dokwe Project in Zimbabwe. A 26-hole, initial phase of a 11,000m drilling programme to test extensions to the existing resource, which currently stands at over 1.1Moz of pit-constrained gold at a 0.6g/t cut-off will begin imminently.
- Hybridan Team
Hybridan Small Cap Feast: 08/10/2025
8th October 2025 @HybridanLLP * A corporate client of Hybridan LLP. ** Potential means Intention to Float (ITF) or similar announcement has been made. ***Arranged by type of listing and date of announcement. ****Alphabetically arranged and priced on Share Price and Market Capitalisation during the time of writing on the day of Publication. Dish of the day Admissions: The Beauty Tech Group (TBTG.L), a global leader in the rapidly growing at-home b...
- David Seers
- Paul Smith
Ariana Resources (AAU LN) - Second mine in Turkey At Tavşan now operat...
Ariana announces today that its second mine at Tavşan in Turkey is fully operational after receipt of the final operating permit. Ariana owns 23.5% of a new Heap Leach operation through its Zenit partnership. Capable of producing between 25-30koz/yr gold; at full production at cash costs of ~$1,500/oz (Zeus est.) and the current gold price of nearly $4,000/oz over the short term Tavşan could have an EBITDA (100%) of ~$60m/yr. With the nearby Kiziltepe CIL plant, currently being fed with high-gra...
- David Seers
Ariana Resources (AAU LN) - Drilling to begin at Dokwe and current sta...
Ariana today announces an operation update following its successful ASX IPO and fund raise (A$11m) with trading commencing on 10.09.2025. The main news today is a plan for an 11,000m diamond and RC drilling programme for its flagship development project at Dokwe in Zimbabwe. The programme is designed to increase and refine Resource and Reserves and will also provide valuable technical data for the Definitive Feasibility Study (DFS). Ariana also points to the imminent production from its heap le...
- David Seers
Ariana Resources (AAU LN) - Tavsan update and drilling at Dokwe - Corp...
Ariana today provides an update on the commissioning of the Tavsan processing plant, planned drilling at Dokwe, and its ASX listing. The Tavsan operation (23.5% Ariana) is progressing smoothly towards full commissioning. An application has been made to the authorities to commence commercial production in August, with government inspections expected imminently. Following the successful conclusion of cold and hot-commissioning trials, the processing plant has achieved operational status and is rea...
- David Seers
Audio Note: Ariana Resources - Exploration upside identified at Dokwe ...
In this audio note, Zeus’ Paul Smith summarises the investment case for Ariana Resources. Ariana has provided an update on the further exploration potential in its Dokwe licence (100%) in Zimbabwe. On the back of last week’s RNS (26.6.2025), which showed that the potential returns from the current Dokwe gold resource are being realised, Ariana shows that there is additional potential for further gold resources in the Dokwe area.
- David Seers
- Paul Smith
Ariana Resources (AAU LN) - Exploration upside identified at Dokwe gol...
Ariana today provides an update on the further exploration potential in its Dokwe licence (100%) in Zimbabwe. On the back of last week’s RNS (26.6.2025), which showed that the potential returns from the current Dokwe gold resource are being realised, Ariana today shows that there is additional potential for further gold resources in the Dokwe area. Ariana has identified a significant gold/arsenic-in-soil anomaly along strike of the planned Dokwe North pit rim. Portable X-ray-Fluorescence (pXRF) ...
- Hybridan Team
- Jon Levinson
Hybridan Small Cap Feast: 26/06/2025
Our daily digest of news from UK Small Caps 26th June 2025 @HybridanLLP * A corporate client of Hybridan LLP. ** Potential means Intention to Float (ITF) or similar announcement has been made. ***Arranged by type of listing and date of announcement. ****Alphabetically arranged and Closing Price on prior day to Publication. Dish of the day Admissions: None Delistings: Maxcyte Inc (MXCT.L) left AIM. Walls & Futures REIT (AQSE:WAFR) lef...
- David Seers
- Paul Smith
Ariana Resources (AAU LN) - Very positive updated economics: Dokwe gol...
Ariana has today announced an updated economic model for its 100% owned Dokwe (North) gold project in Zimbabwe. Using a gold price of $2,750/oz (still lower than current spot at +$3,300/oz) the project generates a post-tax NPV10 of $354m and an IRR of 75% - at a peak capital funding requirement of $82m and an AISC of $1,144/oz and producing, on average, up to 76koz gold per year. The project is very robust with a breakeven gold price of only $1,329/oz for a 10% return – a gold price not seen sin...
- Hybridan Team
Hybridan Small Cap Feast: 05/06/2025
Our daily digest of news from UK Small Caps 5th June 2025 @HybridanLLP * A corporate client of Hybridan LLP ** Potential means Intention to Float (ITF) or similar announcement has been made ***Arranged by type of listing and date of announcement ****Alphabetically arranged Dish of the day Admissions: Delistings: G3 Exploration (G3E.L) has left the Main Market. What’s baking in the oven? Potential** Initial Public Offerings...
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