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Aurania Resources (ARU:CA)
Aurania Closes Successful Equity Financing
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.
- Private placement of equity closed. Aurania announced the closure of its private placement and receipt of C$4,460,062 in gross proceeds. The funds will be used to advance work at the Lost Cities project, including analysis of data sets, initial drilling of gold targets, advancing copper targets and to fund general working capital needs. Because the offering was anticipated, we are making no changes to our 2019 or 2020 EPS estimates.
- Financing completed in two tranches. In July, Aurania announced a $4 million private placement of up to 1,481,481 units at C$2.70 per unit. The offering included...
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 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.