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Aurania Resources Ltd. (ARU:CA)
Planning the Next Campaign
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 the full report for the price target, fundamental analysis, and rating.
Focus shifts to planning and analysis. On March 18, Aurania suspended field operations in Ecuador and withdrew its personnel from the Cordillera de Cutucu following measures by the Ecuadorian government to reduce the spread of new COV-19 infections. Management has shifted its focus to working through its field data backlog, planning ground surveys at Crunchy Hill and Yawi, refining the drilling plan for epithermal gold and silver targets and refining sedimentary-hosted copper-silver targets in both Ecuador and Peru. In our view, the company will be in a better position to hit the ground running once work restrictions are lifted.
Updating estimates. As an exploration company, Aurania Resources generates no revenue. We are narrowing our 2020 loss estimate per share to (C$0.38) from (C$0.41) to account for lower expenses in the second quarter due to the temporary suspension of fieldwork in Ecuador. While we have not lowered our 2020 estimate for exploration, we have lowered expense estimates associated with travel, investor relations and project evaluation. Second quarter exploration expenses have been shifted to...
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.