This year, Aurania Resources Ltd. (ARU:TSX.V; AUIAF:OTCQB) intends to concentrate on doing further exploration work at three core mineral concessions at its Lost Cities–Cutucu project in Ecuador: Awacha, Kuri-Yawi B1 and Kuripan, reported Noble Capital Markets analyst Mark Reichman in an April 26 research note.
"The company is well-positioned for a productive year, and we think exploration at the Awacha copper porphyry target could provide near-term catalysts for the stock," wrote Reichman.
As for Awacha, geophysics work confirmed the presence of a porphyry there, Reichman pointed out. Management thinks Awacha may host a cluster of porphyries. Currently the team is refining drill plans for this target, and thus, drilling could start in as early as Q1/23.
Unlike Awacha, Kuri-Yawi B1 and Kuripan are epithermal gold-silver targets.
Regarding its noncore assets, noted Reichman, the Canadian explorer is seeking partnerships or joint ventures to advance those. Any developments in this regard could move up Aurania's share price.
In other news and to help the mining company advance its work plan for this year, Aurania recently beefed up its technical team. Specifically, it appointed Dr. Steve Garwin as its senior technical advisor and a geological consultant. With 30-plus years of minerals exploration experience, Garwin is an expert on porphyry, epithermal, and Carlin-type mineralization. He has worked with 35 mining firms and on projects in about 20 countries.
"The addition of Dr. Garwin should strengthen exploration activities and enhance the likelihood of successful drilling outcomes," wrote Reichman.
Noble has an Outperform rating and $1.15 per share price target on Aurania, the current share price of which is around $0.45.
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Disclosures for Noble Capital Markets, Inc., Aurania Resources Ltd., April 26, 2022
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.
ANALYST CREDENTIALS, PROFESSIONAL DESIGNATIONS, AND EXPERIENCE: Mark Reichman, Senior Research Analyst, Natural Resources, Senior Equity Analyst focusing on Basic Materials & Mining. 20 years of experience in equity research. BA in Business Administration from Westminster College. MBA with a Finance concentration from the University of Missouri. MA in International Affairs from Washington University in St. Louis.
Named WSJ 'Best on the Street' Analyst and Forbes/StarMine's "Best Brokerage Analyst."
FINRA licenses 7, 24, 63, 87.
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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.