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Ariana – Crocked, Or Storm In Teacup

By Nigel Somerville | Monday 16 December 2024


Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


Last week proposals emerged to hand 26% of mines to the Zimbabwe government. That saw shares in AIM-listed Ariana Resources (AAU) crunched back down to 2.05p, a market capitalisation of £38 million. For a company with a profitable operation in Turkey, a stack of interesting-looking prospects and the Dokwe project in Zim already carrying a NPV of $160 million, that looks very harsh indeed. But have rumours out of Zim crocked the company?
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