Movers and SHAKERS
Aurania Resources (AUIAF)(ARU:CA)
Temporary Suspension of Activities in Ecuador; Key Executive Departs
As of April 24, 2020, Noble Capital Markets research on Aurania Resources is published under ticker symbols (AUIAF and ARU:CA). The price target is in USD and based on ticker symbol AUIAF. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target. 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 of Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Temporary suspension of activities. Aurania has suspended a majority of activities temporarily in Ecuador where the government recently issued a "Red Alert" for 193 of 195 Cantons due to increasing coronavirus cases. Due to the area where it operates, Aurania has greater exposure to indigenous communities that are vulnerable to infection. Moreover, there are currently nine active COVID cases among Aurania’s personnel. The suspension of activities is expected to last roughly one month although field work may continue with reduced personnel in areas where there is no interaction with local communities.
Tsenken Hole 9 Results. Results were received from Hole TSN1-009 at Tsenken which tested for copper-silver mineralization in evaporite mineral beds within sedimentary layers and sampled the contact of a salt wall lying along a prominent fault structure. The hole was intended to intersect a target at a depth of 400 to 500 meters but stopped at a depth of 369 meters due to a collapse in the salt ...
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.