Ariana Resources Sells 13.6% Stake in Zenit to Özaltin Holding for $19.5M, Raising $17.2M for Dokwe Gold Project

Deal Summary

Ariana Resources PLC sold a 13.6% interest in Turkish gold producer Zenit to existing shareholder Özaltin Holding for $19.5 million, generating net proceeds of about $17.2 million after taxes. The cash will fund development of Ariana’s Dokwe Gold Project in Zimbabwe. Ariana retains a 9.9% holding in Zenit.