Ariana Resources Secures Million Financing for Dokwe Gold Project in Zimbabwe
In an exciting development for the gold mining sector, Ariana Resources PLC (AIM:AAU) has successfully secured a funding package of million, with an initial million immediately drawn down. This financing will primarily support a feasibility study at the promising Dokwe gold project located in Zimbabwe, showcasing Ariana’s commitment to advancing its strategic initiatives in the region.
The loan comes courtesy of Riverfort Capital, a firm that recognizes the potential of the Dokwe project. Ariana Resources will have access to this financial support over a four-year period, offering the flexibility needed to explore and develop the site further. This investment is a testament to the growing interest in Zimbabwe’s mining opportunities, which have tremendous potential for economic growth and sustainability.
In addition to the loan, Riverfort has pledged to invest between A0,000 and A0,000 in equity when Ariana moves towards dual listing on the Australian Stock Exchange (ASX). This step not only bolsters the company’s financial position but also enhances its visibility in global markets, attracting a broader base of investors.
Kerim Sener, the managing director of Ariana Resources, expressed optimism about the financing arrangement, emphasizing its significance in minimizing share dilution and aligning with the company’s strategy pre-IPO. Sener stated, “Having access to this capital enables the company immediately to advance the Dokwe Project into its planned Feasibility Study program, which will initially include additional exploration of the project to prove up additional resource upside.”
The Dokwe project represents a vital element of Ariana’s portfolio, with the potential to contribute substantially to both the company’s growth and Zimbabwe’s economic landscape. Mining in Zimbabwe holds immense opportunities, with a landscape rich in minerals and a supportive framework for foreign investment.
As Ariana progresses with its feasibility study and exploration activities, the company stands poised to unlock more value from its assets while fostering local economic development. The continued support from investors like Riverfort demonstrates confidence in Ariana’s vision and the mining industry’s recovery.
Stay tuned for updates as Ariana Resources embarks on this promising venture in Zimbabwe, emphasizing the country’s potential as a key player in the African mining sector.
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