Tag: Aurania Resources

Friday, December 23, 2022

Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Private placement closed. Aurania closed the second and final tranche of its private placement of 4,244,598 units of the company for gross proceeds of approximately C$1.9 million. A total of 2,417,166 and 1,827,432 units were sold in the first and final tranches, respectively. In each case, units were priced at C$0.45 per unit and were comprised of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one common share at an exercise price of C$0.75 per warrant share for up to 24 months following the date of issuance. Net proceeds will be used to fund drilling and exploration activities at the Lost Cities project, along with working capital needs.

Drilling continues at Tatasham. Drilling began at the Tatasham porphyry copper target in late November. Except for a brief holiday break, drilling is expected to continue through January 2023. The company expects to drill three or four holes at Tatasham to test areas identified during the company’s Anaconda mapping program. Following Tatasham, the company anticipates drilling at the Awacha porphyry copper target.

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*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. 

Friday, December 02, 2022

Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Private placement financing. Aurania closed the first tranche of its private placement financing of up to 4,444,444 units of the company for gross proceeds of up to C$2,000,000. In aggregate, 2,417,166 units were sold at a price of C$0.45 per unit for gross proceeds of C$1,087,725. Each unit is comprised of one common share and one common share purchase warrant that entitles the holder to purchase one common share at an exercise price of C$0.75 per warrant share at any time until November 29, 2024. Aurania received an extension by the TSX Venture Exchange to close the second tranche by January 9, 2023, although we believe it will likely close by mid-December.

Drilling begins at Tatasham. Aurania has commenced its drilling program at the Tatasham porphyry copper target. We expect the company to drill up to four holes for a total of 2,700 meters, or an average depth of 675 meters per hole. Because Tatasham is a blind geophysical target with no mineralization at surface, we expect drilling will be an iterative process subject to refinement. Following Tatasham, the company anticipates drilling at the Awacha porphyry copper target.

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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. 

Tuesday, November 01, 2022

Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Private placement financing. Aurania Resources announced a non-brokered private placement financing of up to 4,444,444 units at a price of C$0.45 per unit for gross proceeds of up to C$2,000,000. Each unit will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder to purchase one share for C$0.75 per warrant for a period of 24 months. Proceeds will be used to fund drilling and exploration activities and general working capital. Closing is subject to receipt of approvals, including from the TSX Venture Exchange.

Drilling to commence shortly. Detailed interpretation of the “Anaconda Method” mapping program at Aurania’s Tatasham porphyry target in southeastern Ecuador is nearing completion and the first few drill holes are being defined for a drill program expected to begin in the latter half of November or early December 2022, with drilling at the Awacha target to follow. 

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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.