Ariana Resources PLC (AIM:AAU, ASX:AA2) managing director Kerim Sener talked with Proactive's Stephen Gunnion about a new A$8 million equity investment deal that will help fund the Definitive Feasibility Study (DFS) at the Dokwe gold project in Zimbabwe.
Sener explained that the investment is coming from Hongkong Xinhai Mining Services, a Chinese EPC contractor with substantial expertise in metallurgical test work and engineering. He noted: “There’s a A$500,000 signing fee being paid, which is part and parcel of that A$8 million equity investment.” The deal is structured through Ariana’s listing in Australia and will involve technical services agreements covering metallurgical sampling and contributions to the DFS.
The investment includes A$1 million in CDIs for metallurgical test work and up to A$2 million on completion of the DFS. Sener described it as a “very strong endorsement of the Dokwe project and what we’re doing in Zimbabwe.”
He added that Xinhai already has a presence in-country, having built a 2 million tonne per annum lithium plant and is constructing its own gold mine in central Zimbabwe. With Xinhai’s involvement, Ariana expects to accelerate the DFS timeline, potentially completing it in late 2026.
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