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Friday, August 30, 2019
Aurania Resources (ARU:CA)
Reflections on the Second Quarter and a Look Ahead
Aurania Resources Ltd. is a 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 project includes 42 mineral exploration concessions encompassing an area of approximately 208,000 hectares, or 2,080 square kilometers. The company’s common shares are traded on the TSX Venture Exchange under the symbol “ARU”, the OTCQB Venture Market under the symbol “AUIAF” and on the Frankfurt Exchange under the symbol “20Q”.
Mark Reichman, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to full report for price target, fundamental analysis and rating.
- Twenty epithermal targets identified. In its latest second quarter filings, the company provided an update on its exploration program. To date, a total of twenty epithermal targets for gold and silver have been identified. Additionally, four copper porphyry targets, one sediment-hosted copper and silver deposit, and one “manto” style target for silver, zinc and lead have been found. Scout drilling at Yawi is expected to begin in mid-September.
- Updating estimates. During the second quarter, Aurania generated a net loss of (C$0.09) per share compared to a loss of (C$0.07) per share during the prior year period and our estimate of (C$0.07) per share. We forecast…
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