Monday, March 11, 2019
Aurania Resources Ltd. (ARU:CA)
With New Funding Secured, the Drill is Turning.
Aurania Resources Ltd. is a Canada-based junior mining exploration company engaged in the identification, evaluation, acquisition, and exploration of mineral property interests, with a focus on precious metals and copper. Its flagship asset, The Lost Cities-Cutucu Project, is in southeastern Ecuador in the Province of Morona-Santiago. The company also has several minor projects in Switzerland.
Mark Reichman, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to full report for price target, fundamental analysis and rating.
- Drilling
has commenced at Crunchy Hill. Aurania began scout
drilling at its first target, Crunchy Hill, on March 3rd.
The plan is to drill 5 to 8 holes, with each hole taking 5 to 7 days to
complete. Drilling will follow on the company’s 10 other epithermal
gold-silver targets. Results will be released after several holes have
been completed. It generally takes a week to send samples to the
laboratory and three weeks to receive results. - Rights
offering raised ~C$5.25 million. Aurania Resources
issued 1,946,172 new common shares associated with its recent rights
offering. The offering raised gross proceeds of ~C$5.25
million. Following the offering, there were 34,882,738 common
shares outstanding. Aurania intends to use the net proceeds to fund
exploration, including scout drilling, payment of concession fees and gen…
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NOTE: investment decisions should not be based upon the content of
this research summary. Proper due diligence is required before
making any investment decision.