Ariana Resources (ASX: AA2, AIM: AAU) is advancing its 100%-owned Dokwe Gold Project in Zimbabwe, which hosts a 1.13Moz gold reserve and 1.60Moz gold resource. The company recently released an updated pre-feasibility study and is targeting completion of a definitive feasibility study in early 2027.
Managing Director Dr Kerim Sener highlighted the project’s strong economics, including a pre-tax NPV10 of US$1.06 billion, a 92% IRR and a 1.2-year payback period. Ariana expects Dokwe to produce around 80,000 ounces of gold annually over a 12-year mine life, with additional upside from exploration and resource growth across the broader project area.
The company is well-funded to progress development following the sale of a 13.6% interest in its Turkish operations for US$19.5 million. Ariana reported pro-forma cash and investments of approximately A$53 million and no debt as it advances feasibility work, metallurgical testing and further drilling at Dokwe.
To hear more, watch the full presentation from Ariana Resources.
