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Ariana Resources Plc

www: www.arianaresources.com   email: info@arianaresources.com
Category: Junior: Emerging Mid-tier Producer
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Symbol Data

Symbol Currency
LON:AAU GBX

Description

Ariana Resources Plc are a gold focused junior, emerging mid-tier producer with three mines in development in Turkey and one exploration property. They have approximately 1.9Moz. of gold in the reserves and resources category of which 1.1Moz. are in the measured and indicated category. They have a market capitalisation of ~£49.32M which is a rise of roughly 4% over the last days. As of 03/13/2026 they have ~£1M debt and ~£0.43M cash. They have 1,834M shares outstanding and trade on the London Stock Exchange.

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General Details

Financial 03/13/2026
Last
Analysis
Data
Current Data
Item Value Value Updated
MCap (FD): $47.53M $49.32M 03/13/2026
MCap (OS): $46.94M $48.71M 03/13/2026
Total Assets: $59.37M $59.29M 03/13/2026
Total Liabilities: $3.32M $3.32M 03/13/2026
Current Assets: $57.38M $57.30M 03/13/2026
Current Liabilities: $2.62M $2.62M 03/13/2026
Total Debt: $0.53M $0.53M 03/13/2026
Cash: $0.43M $0.43M 03/13/2026
Debt (Net): $0.10M $0.10M
Enterprise Value: $47.63M $49.41M
Cash Flow: $48.09M $46.37M never
Cash Flow Multiple: 0.99 1.06 never
Net Debt to
Cash Flow Ratio:		 0.00 0.00 never
Finance within 1 year: 03/13/2026
Misc 03/13/2026
Last
Analysis
Data
Current Data
Item Value Value Updated
Shares Outstanding: 1,834,000,000 1,834,000,000 03/13/2026
Shares (FD): 1,857,000,000 1,857,000,000 03/13/2026
Insider Ownership: 60% 60% 03/13/2026
Dividend (Annual): n/a n/a 03/13/2026
Company Type: Mostly Gold Mostly Gold never
Group: Producer Producer never
Production ETA: n/a 01/01/2017 03/13/2026
Production (Gold Eq Oz.): (guess) 
20,000		 (guess) 
20,000		 03/13/2026
Production (Silver Eq Oz.): (guess) 
1,218,422		 (guess) 
1,244,406		 03/13/2026
Development Phase: Producer (Single Mine) Producer (Single Mine) 03/13/2026
Optionality Play: none No
F
U
T
U
R
E		 % of Spot: 15
Producer: Average
 15
Producer: Average
 03/13/2026
Cash Flow Multiple: 4 4 03/13/2026

Resource Data

GOLD 03/13/2026
Last Analysis Data
Current Data
Item Value Value Updated
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: 0.80M 0.80M 03/13/2026
Measured & Indicated: 1.10M 1.10M 03/13/2026
Inferred: 0.80M 0.80M 03/13/2026
Reserves & Resources: 1.90M 1.90M never
P
L
A
U
S
I
B
L
E		 Proven & Probable: 0.72M 0.72M 03/13/2026
Measured & Indicated: 0.94M 0.94M 03/13/2026
Inferred: 0.36M 0.36M 03/13/2026
Reserves & Resources: 1.30M 1.30M never
C
U
R
R
E
N
T		 Annual Production: (guess) 
20,000oz.		 (guess) 
20,000oz.		 03/13/2026
Cash Cost: $2,000 $2,000 03/13/2026
Extra Operating Cost: $700 $700 03/13/2026
Total: $2,700 $2,700 03/13/2026
Margin (Free Cash Flow): $2,405 (47%) $2,319 (46%)
MCap / Production (AuEq): $2,376.66 $2,465.82
EV / Production (AuEq): $2,381.58 $2,470.73
G
R
A
D
E		 Underground (Avg): 4.00 g/t 4.00 g/t 03/13/2026
Open Pit (Avg): n/a 2.00 g/t 03/13/2026
Recovery Rate: (CG)  90.00% (CG)  90.00% 03/13/2026
F
U
T
U
R
E		 Proven & Probable: 1.50M 1.50M 03/13/2026
Annual Production: 60,000oz. 60,000oz. 03/13/2026
Cash Cost: $1,700 $1,700 03/13/2026
Extra Operating Cost: $650 $650 03/13/2026
SILVER 03/13/2026
Last Analysis Data
Current Data
Item Value Value Updated
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: n/a n/a 03/13/2026
Measured & Indicated: n/a n/a 03/13/2026
Inferred: n/a n/a 03/13/2026
Reserves & Resources: n/a n/a never
P
L
A
U
S
I
B
L
E		 Proven & Probable: n/a n/a 03/13/2026
Measured & Indicated: n/a n/a 03/13/2026
Inferred: n/a n/a 03/13/2026
Reserves & Resources: n/a n/a never
C
U
R
R
E
N
T		 Annual Production: n/a n/a
Cash Cost: n/a n/a 03/13/2026
Extra Operating Cost: n/a n/a 03/13/2026
Total: n/a n/a 03/13/2026
Margin (Free Cash Flow): n/a
MCap / Production (AgEq): $39.01 $39.63
EV / Production (AgEq): $39.09 $39.71
G
R
A
D
E		 Underground (Avg): n/a n/a 03/13/2026
Open Pit (Avg): n/a n/a 03/13/2026
Recovery Rate: n/a n/a 03/13/2026
F
U
T
U
R
E		 Proven & Probable: n/a n/a 03/13/2026
Annual Production: n/a n/a 03/13/2026
Cash Cost: n/a n/a 03/13/2026
Extra Operating Cost: n/a n/a 03/13/2026

Property

Last Analysis Data  (03/13/2026)
Stage Name Owned
%		 NPV
$M		 IRR
%		 CapEx
$M		 Au Ag Cu Notes
Dev Kiziltepe
23 show
$31 million capex

Funded and Permitted.

Production in 2016.
Dev Salinbas
23 show
650,000 oz deposit.

Scoping completed.

$800 cash costs.
50,000 oz per year
Dev Tavsan
23 show
200,000 oz.

Target: 400,000 oz.

Currently permitting.

Next mine.
Exp Dokwe
100 show
1.8M oz deposit

Size: 100,000 ha
Current Data
Stage Name Owned
%		 NPV
$M		 IRR
%		 CapEx
$M		 Au Ag Cu Notes
Dev Kiziltepe
23 show
$31 million capex

Funded and Permitted.

Production in 2016.
Dev Salinbas
23 show
650,000 oz deposit.

Scoping completed.

$800 cash costs.
50,000 oz per year
Dev Tavsan
23 show
200,000 oz.

Target: 400,000 oz.

Currently permitting.

Next mine.
Exp Dokwe
100 show
1.8M oz deposit

Size: 100,000 ha

Profitability (by resource)

Proven &
Probable		 03/13/2026
Last Analysis Data
Current Data
Item Value Value Updated
Percentage Gold: 100.00% 100.00% n/a
Percentage Silver: n/a n/a n/a
Total (Gold Eq. Oz.): 0.80M 0.80M n/a
Total (Silver Eq. Oz.): n/a n/a n/a
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 0.72M 0.72M n/a
Silver Eq. Oz.: n/a n/a n/a
Maximum Profit (Gold): $1,731.30M $1,669.46M n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: $1,731.30M $1,669.46M n/a
Max Profit / Current MCap: 36.423 33.852 n/a
Max Profit Per Share (Gold): $0.93 $0.90 n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: $0.93 $0.90 n/a
Total Free Profit Per Share: $0.00 $0.00 n/a
FD MCap / Gold Eq.: $66.02 $68.49 n/a
FD MCap / Silver Eq.: $1.08 $1.10 n/a
FD MCap / Per Metal
as % Spot Price:		 1.29% 1.36% n/a
EV / Gold Eq.: $66.16 $68.63 n/a
EV / Silver Eq.: $1.09 $1.10 n/a
EV / Per Metal
as % Spot Price:		 1.30% 1.37% n/a
Measured &
Indicated		 03/13/2026
Last Analysis Data
Current Data
Item Value Value Updated
Percentage Gold: 100.00% 100.00% n/a
Percentage Silver: n/a n/a n/a
Total (Gold Eq. Oz.): 1.10M 1.10M n/a
Total (Silver Eq. Oz.): n/a n/a n/a
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 0.94M 0.94M n/a
Silver Eq. Oz.: n/a n/a n/a
Maximum Profit (Gold): $2,250.69M $2,170.29M n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: $2,250.69M $2,170.29M n/a
Max Profit / Current MCap: 47.350 44.008 n/a
Max Profit Per Share (Gold): $1.21 $1.17 n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: $1.21 $1.17 n/a
Total Free Profit Per Share: $0.00 $0.00 n/a
FD MCap / Gold Eq.: $50.78 $52.69 n/a
FD MCap / Silver Eq.: $0.83 $0.85 n/a
FD MCap / Per Metal
as % Spot Price:		 0.99% 1.05% n/a
EV / Gold Eq.: $50.89 $52.79 n/a
EV / Silver Eq.: $0.84 $0.85 n/a
EV / Per Metal
as % Spot Price:		 1.00% 1.05% n/a

Reserves &
Resources		 03/13/2026
Last Analysis Data
Current Data
Item Value Value Updated
Percentage Gold: 100.00% 100.00% n/a
Percentage Silver: n/a n/a n/a
Total (Gold Eq. Oz.): 1.90M 1.90M n/a
Total (Silver Eq. Oz.): n/a n/a n/a
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 1.30M 1.30M n/a
Silver Eq. Oz.: n/a n/a n/a
Maximum Profit (Gold): $3,116.34M $3,005.02M n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: $3,116.34M $3,005.02M n/a
Max Profit / Current MCap: 65.561 60.934 n/a
Max Profit Per Share (Gold): $1.68 $1.62 n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: $1.68 $1.62 n/a
Total Free Profit Per Share: $0.00 $0.00 n/a
FD MCap / Gold Eq.: $36.68 $38.05 n/a
FD MCap / Silver Eq.: $0.60 $0.61 n/a
FD MCap / Per Metal
as % Spot Price:		 0.72% 0.76% n/a
EV / Gold Eq.: $36.75 $38.13 n/a
EV / Silver Eq.: $0.60 $0.61 n/a
EV / Per Metal
as % Spot Price:		 0.72% 0.76% n/a

Future Valuation (Cash Flow & Totals)

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