Ariana Resources (LSE: AAU)
An AIM-listed mineral exploration and development company with gold mining interests in Europe, provides the following update on
Venus Minerals Limited (“Venus”). Venus, in which Ariana currently has a 58% shareholding, has re-engaged with its advisers and is now actively proceeding with its intention to seek admission to AIM.
|Ariana Resources||AIM: AAU|
|Stage||Production, development, exploration|
|Market cap||£30 million @2.42p|
|Location||Turkey, Cyprus, Kosovo|
RNS Number : 5602G
Ariana Resources PLC
20 July 2023
20 July 2023
VENUS MINERALS IPO PROCEEDING
Ariana Resources plc (LSE: AAU) (“Ariana” or the “Company”), an AIM-listed mineral exploration and
development company with gold mining interests in Europe, provides the following update on
Venus Minerals Limited (“Venus”). Venus, in which Ariana currently has a 58% shareholding, has
re-engaged with its advisers and is now actively proceeding with its intention to seek admission
· Venus is proposing to raise up to £3 million from new investors, following which Ariana will
hold approximately 35% of Venus.
· Venus is progressing towards an IPO on AIM during Q3 2023, with marketing to commence
· The IPO will enable Venus to undertake a further exploration programme on its portfolio
of 100%-owned copper/gold assets in Cyprus.
Dr. Kerim Sener, Managing Director, commented:
“We are very pleased to report the latest progress on Venus. With the support of its brokers and
other advisers, Venus is currently expecting to advance toward listing on AIM during Q3 2023.
“With a very strong pipeline of copper-gold exploration and development projects in Cyprus and a
cutting-edge exploration model, Venus is strategically placed to capitalise on the global deficit
currently predicted in the years ahead for the copper market.
“Cyprus is a well-established and a low-risk mining jurisdiction in Europe, so now it is imperative for Europe to develop its own copper resources to support the global decarbonisation agenda.
“We expect Venus to help advance and develop a series of high-quality copper projects to satisfy this demand.
“Ariana looks forward to reporting further progress from Venus in due course. Anyone who has
any questions with respect to Venus, please contact firstname.lastname@example.org for further detail.”
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