0R15 8539.0 2.1534% 0R1E 8600.0 3.3654% 0M69 None None% 0R2V 190.25 -0.1312% 0QYR 1345.5 2.0871% 0QYP 424.0 0.5931% 0LCV 146.6464 -1.3147% 0RUK None None% 0RYA 1631.0 -0.6094% 0RIH 171.3 0.9131% 0RIH 174.9 2.1016% 0R1O 186.0 9820.0% 0R1O None None% 0QFP None None% 0M2Z 298.3 -0.6495% 0VSO None None% 0R1I None None% 0QZI 474.5 0.6363% 0QZ0 220.0 0.0% 0NZF None None%
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Ariana Resources (LSE: AAU) posts lower PBT in H1FY23 as contribution from associates decline
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Highlights
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.
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