Highlights:

  • Xinhai to invest AUD 8 million in Ariana CDIs, including a AUD 0.5 million signing fee.
  • Technical services and feasibility study support valued at AUD 3 million in CDIs at the issue price.
  • Up to 18.3 million options granted to Xinhai, exercisable until 31 December 2027.

Ariana Resources plc (LSE:AAU) has entered into a strategic investment term sheet with Hongkong Xinhai Mining Services Ltd. ("Xinhai") to provide AUD 8 million in immediate funding. The investment will also support a Metallurgical Sampling and Testwork Programme and progress the Definitive Feasibility Study (DFS) at the 100% Ariana-owned Dokwe Gold Project in Zimbabwe. The agreement includes a non-refundable signing fee of AUD 0.5 million, payable on execution of the term sheet.

Tranche Structure
The investment will be executed in three tranches. Tranche 1 involves an AUD 8 million cash investment in exchange for 26,666,667 CDIs, including the signing fee. Upon completion, Xinhai will nominate one director to the Ariana board. Tranche 2 covers Metallurgical Sampling and Testwork services valued at AUD 1 million, to be settled in 3,333,333 CDIs. Tranche 3 involves technical services to complete the DFS, valued up to AUD 2 million, payable through up to 6,666,667 CDIs.

Options Allocation
Xinhai will be granted options on a one option per two CDIs basis, exercisable at AUD 0.50 per CDI until 31 December 2027. This includes 13,333,333 options on completion of Tranche 1, 1,666,667 options on Tranche 2, and up to 3,333,333 options on Tranche 3. All options are subject to Ariana shareholder approval under ASX and AIM rules.

Use of Funds and Technical Services
Funds received from the investment will be allocated to general working capital purposes, including the Metallurgical Sampling and Testwork Programme and the DFS for the Dokwe Project. A separate Technical Services Agreement will be executed alongside the Definitive Agreements to define the scope of work and budget for these programmes.

Follow-On Placement
Ariana has made arrangements with Shaw and Partners Limited to potentially raise a further AUD 2 million through a follow-on placement under similar terms, subject to completion of Tranche 1 by Xinhai. There is no certainty that the follow-on placement will proceed.

Share Price Snapshot
AAU was trading 3.28% higher at GBX 1.58 per share as of 09 December 2025.