Ariana Resources seeks US$5m for VFEX gold listing
The London-listed firm plans to raise funds for its Dokwe Gold Project in Matabeleland North.
London-listed gold developer Ariana Resources plc is seeking to raise up to US$5 million through a private placement before listing on the Victoria Falls Stock Exchange (VFEX). The company aims to open Zimbabwean investors to a gold project with potential annual production of 100 000 ounces.
Ariana Resources, which owns 100% of the Dokwe Gold Project in Matabeleland North, will use the funds raised to advance exploration and de-risk the project. This work is intended to prepare the project for a Definitive Feasibility Study (DFS).
The fundraising is part of Ariana Resources' strategy to list on the VFEX. The Dokwe Gold Project is located in Matabeleland North.
Why it mattersZimbabwean investors will gain access to a gold project through Ariana Resources' private placement and VFEX listing.