Ariana Resources plc (LSE:AAU) said it has fully repaid its outstanding loan balance of approximately US$782,575 to RiverFort Global Opportunities by issuing 40,435,311 new ordinary shares. The conversion, carried out under the existing facility agreement, is equivalent to around 4,043,531 CHESS Depository Instruments. Following the transaction, Ariana reported it is now debt-free and held about £5.5 million in cash as at 31 December 2025.
As a result of the settlement, RiverFort’s first-ranking security over Ariana and certain subsidiaries will be released, while the company’s total voting rights are expected to increase to 2,656,146,692 shares once the new equity is admitted to AIM. Importantly, Ariana retains access to up to US$3 million of undrawn funding from the original US$5 million facility for a period of up to three years, providing additional financial flexibility as it progresses key development milestones at the Dokwe Gold Project. Management said RiverFort’s increased equity position also reflects continued investor support amid constructive conditions in precious metals markets.
Despite the strengthened balance sheet, Ariana’s broader outlook remains constrained by underlying financial performance, with ongoing operating losses and structurally negative operating and free cash flow. These factors are partly offset by supportive technical indicators, with the share price trading above key moving averages and backed by a positive MACD signal. Valuation appears moderate based on the reported price-to-earnings ratio, although the absence of dividend yield data limits income appeal.
More about Ariana Resources plc
Ariana Resources plc is a mineral exploration, development and production company with gold project interests across Africa and Europe. Listed on AIM and the ASX, the group is currently focused on advancing the Dokwe Gold Project in Zimbabwe while maintaining broader exposure to precious metals markets, which it believes offer favourable medium- to long-term fundamentals.
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