Monday, January 13, 2025
Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Private placement financing. In December, Aurania closed the second and final tranche of its private placement financing. A total of 3,747,243 units were sold at C$0.45 per unit for gross proceeds of C$1,686,259.35. Each unit is comprised of one common share and one common share purchase warrant, which entitles the holder to purchase one common share at an exercise price of C$0.75 for a period of 24 months following the closing date of the applicable tranche of the offering. Aurania expects to allocate most of the net proceeds to fund exploration activities in France.
Kuri-Yawi epithermal gold target. In November, Aurania commenced an induced polarization (IP) geophysical survey over its Kuri-Yawi epithermal gold target at the company’s Lost Cities-Cutucu project in Ecuador. The IP survey is designed to identify deep conductors that could correspond to gold mineralization and to target drill holes for a drilling program in 2025. In his recent shareholder letter, Dr. Keith Barron, Aurania’s Chairman and CEO, mentioned that while he is awaiting the Geophysicist’s report on the IP survey at Kuri-Yawi, the preliminary reports look great. Some epithermal veins were discovered during the survey and samples are being assayed.
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