Monday, June 03, 2024
Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Third and final tranche closed. Aurania closed the third and final tranche of its non-brokered private placement financing. With the third tranche, the company raised gross proceeds of C$724,400.00 with the sale of 3,622,000 units at a price of C$0.20 per unit. In total, the private placement raised gross proceeds of C$3,743,222.40 with the sale of 18,716,112 at a price of C$0.20 per unit. The proceeds will fund exploration and target refinement at the Kuri-Yawi target area in Ecuador, along with general working capital needs.
Exploration plan. Aurania’s 2024 exploration program will focus on the Kuri-Yawi epithermal gold target. In 2020 and 2021, nine scout holes were drilled, totaling 4,957 meters, to test soil geochemistry anomalies and one of the geophysical anomalies detected during a MobileMT survey in 2021. The results revealed intense and pervasive hydrothermal clay mineral alteration and silica-carbonate veinlets exhibiting epithermal textures which are features consistent with proximity to an epithermal system. While Aurania’s property package offers an abundance of promising targets, Kuri-Yawi may offer the quickest path for a successful outcome based on work that has already been completed.
Get the Full Report
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.