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Research – Aurania Resources (ARU:CA) – New drilling has commenced, Funding secured

Natural Resources
0 min read

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 3
    rd
    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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*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.
 

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