I'm told that is the most famous opening line of any book in English literature. It comes from Charles Dickens' "A Tale of Two Cities."
The paragraph continues: "…it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, it was the season of Light, it was the season of Darkness, it was the spring of hope, it was the winter of despair, we had everything before us, we had nothing before us, we were all going direct to Heaven, we were all going direct the other way – in short, the period was so far like the present period, that some of its noisiest authorities insisted on its being received, for good or for evil, in the superlative degree of comparison only."
The quote came to mind because I got two emails a short time ago. One from Keith Barron talking about a press release he put out today about his Lost Cities Project in Ecuador; the other announcing the closing of a $4 billion dollar financing of a blockchain company without a product.
My reaction was, "You gotta be shitting me."
I am quite happy to suggest along with two others, I managed to pretty much nail the top of "Bitcon" and the "cliptocurrencies" in December. I'll skip the false modesty and humility. People are usually humble for very real reasons. I'm not; I don't do with false modesty. I called the top of the $800-billion dollar fraud perfectly correctly. It will be another 2–3 years before it hits bottom with 95% of the money flown off to Bitcon heaven. People pissing $4 billion down a cliptocurrency rat hole deserve everything they have coming and they will get it good and hard.
We are near a tradable low in the metals the same as we pretty much get every summer. Billions of dollars are pouring into the biggest financial fraud in world history yet very real resource stories are going begging. It will change soon.
Keith Barron began tracking the two Lost Cities of Gold almost 20 years ago, well before his discovery of Fruta del Norte. In 2017 Aurania Resources Ltd. (ARU:TSX.V) picked up 42 mineral claims with 2080 square km in Ecuador that Keith believed would hold the homes of those two projects.
It's a simple story. The Spanish had seven major gold mining districts in what is now Ecuador. They treated the natives poorly, the natives rose up and killed as many of the Spanish as possible and two cities or properties were deserted and eventually lost to time.
Ecuador went through some bad times when the government got stupid and literally held mining companies up for ransom. So they all left and there was an eight-year period where nothing happened in the country in mining.
While they are a lot smarter now and there are some wonderful results coming out of the country, their terms are stiff. Aurania just paid $2.5 million in concession fees and have a $1 million+ yearly exploration requirement that doubles in another year. But they own 100% of the 2,080 square km and Keith believes he has narrowed down the location of the two Lost Cities. From the data it appears he is on to something potentially giant.
I happen to be a big Keith Barron fan. He points out on a regular basis that I am not a PhD geologist and I point out, "so what?" I was buying shares when the company hadn't even done the deal on the projects. I participated in the PP at $2 a year ago and paid $3 to exercise the warrants. I am a believer.
If you want to see the opposite of pissing billions of dollars down a cliptocurrency rat hole, go to Aurania's web site and wander around. Keith Barron is one of the most knowledgeable and best writers in mining. In 2001 he wrote a series of educational articles about the basics of mining that every investor should read. Two years ago I formatted some of them into a book titled Straight Talk on Mining available on Amazon.
The Aurania team is busy doing the basic ground exploration work necessary prior to putting the Truth Detector (drill) to work in Q4 of 2018. I'll cut to the chase here for my readers. He has found at least one major deposit. It will take drilling to prove it but if you look at the pictures and read the information you will begin to understand how I feel. This is the real deal and the shares are eventually going to go much higher.
The price for Aurania shares has been as high as $7.20 in January after someone put in a market order to buy and bounced the price from $3.20 after someone came out with a write up. The price settled to about $4.50, Keith accelerated the $3 warrants and got cashed up.
He will need to do a financing soon; it's expensive keeping the government happy down there. It's expensive enough that you aren't going to see any of the Vancouver scams run by drillers or cab drivers operating in the country. Word has gotten out and people who want in the financing cheap are dumping shares to make the price go down. It's part of the Vancouver/Toronto games.
I believe he has found exactly what he was looking for. It will take more work, more money and drilling but I think he is on to another big discovery. They have just put out an updated presentation. Take a look at it and you figure out if I am right.
Aurania is an advertiser. I bought shares in the open market, in the PP, exercised warrants and I'm back buying shares in the open market. I suspect $2 is pretty much going to be the floor for now. Do your own due diligence.
Aurania Resources
ARU-V $2.00 (May 31, 2018)
AUIAF-OTCQB 29.5 million shares
Aurania Resources website.
Bob and Barb Moriarty brought 321gold.com to the Internet almost 16 years ago. They later added 321energy.com to cover oil, natural gas, gasoline, coal, solar, wind and nuclear energy. Both sites feature articles, editorial opinions, pricing figures and updates on current events affecting both sectors. Previously, Moriarty was a Marine F-4B and O-1 pilot with more than 832 missions in Vietnam. He holds 14 international aviation records.
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