Ariana Resources PLC (AIM:AAU) confirmed its shares have begun trading on the Australian Securities Exchange, under the ticker AA2.
The gold company raised A$11 million in through the sale of 39.29 million Chess Depositary Interests at A$0.28 each, with each CDI representing ten Ariana shares.
It expects the dual listing will broaden the shareholder base, provide greater liquidity, and raise the profile of its Dokwe Gold Project in Zimbabwe.
Trading on AIM in London under the ticker AAU remains unaffected.
Managing director Dr Kerim Sener described it as a “fundamental moment in the company's history”.
“We welcome the support of the company's new investors, who join us just as Ariana is making great strides, both operationally and commercially,” Sener said.
“Gold companies listed on the ASX have attracted significant investor interest of late.
“As such, we believe that the listing will help enable the Company to achieve a more attractive valuation in respect of its major development-stage Dokwe Gold Project, which will benefit both our new and long-standing investors.”