ACF Equity Research Broker Notes

Ariana Resources PLC

19 October 2026

 

RNS Reach

19 October 2026

AIM: AAU
ASX: AA2

ACF Equity Research Broker Notes

Ariana Resources plc (AIM: AAU, ASX: AA2, “Ariana” or the “Company”), advancing towards gold production at its 100%-owned 1.6 Moz (pre-tax NPV10: US$1.056 billion*) Dokwe Gold Project in Zimbabwe, updates investors that ACF Equity Research has published a new investment research note on Ariana Resources: Ariana’s – Zim Golden Focus, examining our valuation, financial position and development plans for the 100%-owned Dokwe Gold Project in Zimbabwe.

ACF highlights Dokwe’s 1.13Moz Ore Reserve, our retained interest in the producing Tavşan mine and upcoming milestones, including the Definitive Feasibility Study. The note also discusses the risks and funding requirements involved in bringing Dokwe into production.

To read the full ACF Equity Research Notes, including a wider thematic look at Zimbabwe:

https://www.arianaresources.com/investors/analyst-coverage

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The Board of Ariana Resources plc has approved this announcement and authorised its release. 

For further information on the Company, please visit the website or please contact the following:

Contacts:

Ariana Resources plc Michael Atkins, Executive Chairman Dr Kerim Sener, Managing Director		[e-mail]
Beaumont Cornish Limited  (Nominated Adviser) Roland Cornish / Felicity Geidt		Tel: [phone]
Zeus Capital (Joint Broker) Harry Ansell / Katy Mitchell Fortified Securities (Joint Broker) Guy Wheatley Yellow Jersey PR Limited (UK Financial PR) Dom Barretto / Shivantha Thambirajah  M&C Partners (Aus Financial PR) Christina Granger / Ben Henri Shaw and Partners Limited  (Lead Manager – ASX) Damien Gullone		Tel: [phone] Tel: [phone] Tel: [phone] [e-mail] Tel: [phone] [e-mail] Tel: [phone]

This is a Reach announcement. Reach is an investor communication service aimed at assisting listed and unlisted (including AIM-quoted) companies to distribute media-only/non-regulatory news releases into the public domain. Information required to be notified under the AIM Rules for Companies, Market Abuse Regulation or other regulation would be disseminated as an RNS regulatory announcement and not on Reach.

About Ariana Resources:

Ariana is a mineral exploration and development company dual-listed on AIM (AIM: AAU) and ASX (ASX: AA2), with its main project being the 1.6 Moz Dokwe Gold Project in Zimbabwe (pre-tax NPV10: US$1.056 billion*), with its DFS in progress. Ariana has an exceptional track record of creating value for its shareholders through its interests in active mining projects and investments in exploration companies. In addition to its Dokwe Gold Project, its other interests include a residual investment in gold-silver production in Türkiye after a recent substantial sell-down, and copper-gold-silver exploration and development projects in Kosovo and Cyprus.

For further information on the vested interests Ariana has, please visit the Company's website at www.arianaresources.com.

Zeus Capital Limited, Fortified Securities and Shaw and Partners Limited are the brokers to the Company, and Beaumont Cornish Limited is the Company's Nominated Adviser.

* Based on the pre-feasibility study update announced on 26 May 2026.

 

END