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TICKERS: ARU; AUIAF

Mining Firm Generates CA$8.7M for Project Advancement, Exploration
Research Report

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A recent drop in Aurania Resources' share price due to the financings has created a buying opportunity, a Noble Capital Markets report noted.

In an Oct. 22 research note, Noble Capital Markets analyst Mark Reichman
reported that  Aurania Resources Ltd. (ARU:TSX.V; AUIAF:OTCQB) closed two financings for total net proceeds of CA$8,688,289.

 

Noble Capital rates Aurania Resources Outperform.

 

 

Also, added Reichman, the company's shares "offer a compelling value" given the recent drop in their price. Shares were trading Friday at about CA$1.17 apiece, which compares to Noble's price target on Aurania of US$3 a share.

Reichman noted that Aurania intends to use the new capital to continue exploration at and advance its Los Cities–Cutucu project in Ecuador. The Canadian company intends to drill there throughout 2022 with two rigs.

The analyst described the two financings. One was a marketed public offering, which yielded CA$6,903,450 million gross. This resulted from the sale of 3,835,250 units at CA$1.80 apiece. Each unit consisted of one common share and one common share purchase warrant with a CA$2.20 exercise price until October 21, 2026.

The second financing was a nonbrokered private placement of 1,256,037 units, which generated CA$2,260,866.60 in gross proceeds. The terms and conditions were identical to those of the marketed public offering.  

Noble Capital rates Aurania Resources Outperform.

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Disclosures:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Aurania Resources Ltd. Click here for important disclosures about sponsor fees.  An affiliate of Streetwise Reports is conducting a digital media marketing campaign for this article on behalf of Aurania Resources Ltd. Please click here for more information. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
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5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Aurania Resources Ltd., a company mentioned in this article.

Disclosures from Noble, Aurania, Oct. 22, 2021

RESEARCH ANALYST CERTIFICATION: Independence Of View: All views expressed in this report accurately reflect my personal views about the subject securities or issuers.

Receipt of Compensation: No part of my compensation was, is, or will be directly or indirectly related to any specific recommendations or views expressed in the public appearance and/or research report.

Ownership and Material Conflicts of Interest: Neither I nor anybody in my household has a financial interest in the securities of the subject company or any other company mentioned in this report.

The following disclosures relate to relationships between Noble and the company (the "Company") covered by the Noble Research Division and referred to in this research report.

The Company in this report is a participant in the Company Sponsored Research Program ("CSRP"); Noble receives compensation from the Company for such participation. No part of the CSRP compensation was, is, or will be directly or indirectly related to any specific recommendations or views expressed by the analyst in this research report.

Noble has arranged non-deal roadshow(s) with investors in the last 12 months. The Company has attended Noble investor conference(s) in the last 12 months.

Noble intends to seek compensation for investment banking services and non-investment banking services (securities and non-securities related) within the next 3 months.

Noble is not a market maker in the Company.

All statements or opinions contained herein that include the words "we", "us", or "our" are solely the responsibility of Noble Capital Markets, Inc. ("Noble") and do not necessarily reflect statements or opinions expressed by any person or party affiliated with the company mentioned in this report. Any opinions expressed herein are subject to change without notice. All information provided herein is based on public and non-public information believed to be accurate and reliable, but is not necessarily complete and cannot be guaranteed. No judgment is hereby expressed or should be implied as to the suitability of any security described herein for any specific investor or any specific investment portfolio. The decision to undertake any investment regarding the security mentioned herein should be made by each reader of this publication based on its own appraisal of the implications and risks of such decision.

This publication is intended for information purposes only and shall not constitute an offer to buy/sell or the solicitation of an offer to buy/sell any security mentioned in this report, nor shall there be any sale of the security herein in any state or domicile in which said offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or domicile. This publication and all information, comments, statements or opinions contained or expressed herein are applicable only as of the date of this publication and subject to change without prior notice. Past performance is not indicative of future results.

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