Aurania Resources (AUIAF) – Laying the Groundwork for Drilling

Natural Resources
0 min read

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. 


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