Dokwe buzz, gold interest pushes dual-listed Ariana up to 30cps on ASX arrival

Ariana Resources (ASX:AA2) had a strong first day on the ASX on Wednesday, with the dual-listed, London-based gold miner gaining as much as +7% to crack the 30-cent mark by the time it rang up its first trading close.

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The $1 million hike was mostly spurred on by Australian investors liking the look of the company’s 100%-owned Dokwe gold project in Zimbabwe.

Dokwe has long been spruiked as one of Zimbabwe’s largest undeveloped projects. It boasts an estimated resource of over one million ounces and a pre-feasibility study released earlier this year suggested an open-pit operation run at the site could produce as much as 65,000oz over the next 13 years.

Beyond its fascinating Dokwe proposition, Ariana also owns two gold-silver projects in Turkey and is running exploration in Cyprus and Kosovo.

It has an early-stage Oz presence through subsidiary Asgard Metals, too.

But, while all that wowed traders Wednesday, there was a simpler selling point: Gold.

“Gold companies listed on the ASX have attracted significant investor interest of late,” the company’s managing director, Dr. Kerim Sener, explained while overseeing Ariana’s midday IPO launch on Wednesday.

Ariana plans to use that interest to “[help] achieve a more attractive valuation in respect to its major development-stage Dokwe gold project.”

Now, following its big first day, the gold miner appears to be a wait-and-watch for Aussie traders for the rest of Week 37 – there’s been little price action under the “AA2” ticker through to lunch Thursday.

Stats website ADVFN’s Buy/Sell tracker shows four sell transactions since 10am, paired with just five buy orders; some 50K units were picked up total.

Price-wise, AA2 remains at that 30c mark it earned on its first trade day.

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