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Highlights

  • Ariana Resources posted a lower Profit Before Tax of USD 0.33 million in H1 FY23 as compared to USD 2.93 million in H1 FY22.
  • At the end of H1 FY23, AAU was debt-free despite the rising interest rates scenario.

FTSE AIM All-Share listed Ariana Resources PLC (LSE: AAU) focusses on exploration and development of gold and silver. It runs its operations under two segments, namely mining and other reconciling items. The mining division of the firm doesacquisition, exploration, and development of mineral resources.

Recently, the company made an investment of around 1.3% in the African exploration company Rockover Holdings Ltd, which is likely to touch a production of about 60,000 ounces of gold/annum for 12 years as per the optimistic pre-feasibility study compared. Furthermore, AAU bought 8.4% interest in Altai Resource Ltd for GBP 100,000 into the Altai Seed Capital Round.

The company posted a lower Profit Before Tax of USD 0.33 million in H1 FY23 as compared to USD 2.93 million in H1 FY22, marking a 88.7% year-on-year decline. The drop can be attributed to the reduced profits from the associates which was recorded at USD 0.73 million in H1 FY23 against USD 2.5 million in the previous corresponding period.

As reported at the end of the first half of the fiscal year 2023, Ariana Resources stands debt-free despite the rising interest rates scenario.

Significant drilling results from recent drill campaigns:

  • Resource and extension drilling over 104 diamond drillholes across 8,994.3m at Tavsan Project delivered TAV-D023-23 12.1m @ 2.52g/t Au + 9.38g/t Ag from 114.6m, TAV-D027-23 11.0m @ 2.18g/t Au + 5.00g/t Ag from 137.3m.
  • From 10 diamond drillholes completed over 6,005.8m at the Hizarliyayla Project intercepted HZR006 1.0m @ 2.80g/t Au + 5.26g/t Ag from 72.5m, HZR003 3.4m @ 1.08g/t Au + 7.11g/t Ag from 202.0m.

Top 10 Shareholders:

Approximately 32.47% of the total shareholdings in the firm is held by its top ten shareholders. While BlackRock Advisors (UK) Limited is the biggest shareholder with maximum number of stake of 12.55%, De'Villiers (Michael John) is the second biggest shareholder in AAU with over 5.65% shareholding. 

 

Stock Price Performance

AAU’s stock price has increased by over 2.17% in the last three months. It has grown by more than 2.17% in the last six months. The stock’s 52-week low and 52-week high price stand at GBX 1.82 and 3.70, respectively.

 

 

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 05 January 2024. The reference data in this report has been partly sourced from EODHD/Others.