Ariana Resources revises timeline for ASX dual listing
Ariana Resources
1.95p
16:55 20/12/24
Mineral explorer and developer Ariana Resources revised the timeline for its proposed dual-listing on the Australian Securities Exchange (ASX) on Friday, now targeting completion in the first half of 2025.
FTSE AIM All-Share
710.60
17:04 20/12/24
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10,313.46
17:14 20/12/24
The AIM-traded firm said the adjustment reflected the need to finalise several preparatory steps, including convening a shareholder meeting to approve resolutions necessary for the listing, completing the company’s 2024 audited financial statements for the ASX prospectus, and revising arrangements with its Australian capital markets advisors due to changes at its lead manager.
It said it planned to lodge a prospectus for the dual-listing during the first half of 2025, and targeted completing the listing by the middle of the year.
The company said it was continuing to work toward achieving the requirements for the dual-listing, aligning with its strategic focus on enhancing access to Australian capital markets.
“We remain fully committed to our plans to achieve a dual-listing of Ariana on the ASX and remain significantly advanced towards finalising this process,” said managing director Dr Kerim Sener.
“However, we have determined that the optimal time to complete our ASX listing will be during the first half of the 2025 calendar year.”
Dr Sener said by that time, the firm was anticipating to have announced some of its early work on the Dokwe feasibility study, particularly towards a revised resource and reserve update, following receipt of new drilling results.
“This will establish an even more robust platform to pin the company's valuation in the lead-up to the ASX listing.”
At 1035 GMT, shares in Ariana Resources were up 0.52% at 1.94p.
Reporting by Josh White for Sharecast.com.