Gold explorer Ariana Resources (AIM:AAU) successfully raised A$11 million (£5.3 million) in gross proceeds through its ASX dual listing offer, which closed August 14. The offering, priced at A$0.28 per CDI, will result in the issuance of approximately 39.4 million CDIs, representing 16.87% of the company's enlarged share capital, and supports its gold and copper-gold-silver exploration projects across multiple countries. While Ariana targets an ASX listing by September 15 under ticker AA2, admission of the new ordinary shares to AIM is expected around September 15, 2025.
Ariana Resources (AIM:AAU) has successfully secured A$11 million (£5.3 million) in gross proceeds from its Australian Securities Exchange (ASX) dual listing offer, a figure that sits at the lower end of its A$10-15 million target. The capital raise was executed through the issuance of approximately 39.4 million CHESS Depositary Interests (CDIs) at A$0.28 each, which translates to 394.4 million new ordinary shares at an effective price of 1.34 pence per share. This infusion of capital, intended to advance its diversified exploration portfolio across Zimbabwe, Türkiye, Cyprus, and Kosovo, comes at the cost of significant shareholder dilution, with the new shares constituting 16.87% of the enlarged share capital. While the company anticipates a near-term ASX listing by September 15 under the ticker AA2, a critical detail for current investors is the unusually long timeline for the new ordinary shares to be admitted to trading on AIM, which is not expected until September 15, 2025.
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