Welcome to our dedicated page for Aurania Resources Ltd. news (Ticker: AUIAF), a resource for investors and traders seeking the latest updates and insights on Aurania Resources Ltd. stock.
Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) is a mineral exploration company focused on identifying, evaluating, acquiring, and exploring mineral property interests, with a primary focus on precious metals and copper in South America. The Company's flagship asset, The Lost Cities - Cutucu Project, situated in southeastern Ecuador, is in the Jurassic Metallogenic Belt in the eastern foothills of the Andes mountain range.
Recently, Aurania has filed for the renewal of its 42 mineral exploration concessions in Ecuador, demonstrating its commitment to maintaining its property in the region. Additionally, the Company's directors have agreed to receive their quarterly fees in the form of stock options, showcasing their confidence in the future prospects of the Company.
Aurania's strategic move to sign a share purchase agreement with Palamina Corp., selling its Peruvian subsidiary, highlights its focus on advancing activities in Ecuador and France. Through this agreement, the Company will retain a 1% Net Smelter Return royalty over certain mining claims located in Peru.
Aurania Resources (TSXV: ARU) (OTCQB: AUIAF) has clarified the terms of stock options granted to directors in lieu of cash fees for 2024. For Q1 2024, 94,000 stock options were granted at an exercise price of $0.25. For Q2 2024, 54,000 stock options were granted at an exercise price of $0.46. All options are exercisable for three years from the grant date and vested immediately. Directors are responsible for paying the full exercise price if they choose to exercise the options. This arrangement replaces quarterly cash fees for participating directors in 2024.
Aurania Resources announced the discovery of visible gold at its Crunchy Hill target in southeastern Ecuador. This discovery was made during basic prospecting by a geologist, and further investigation, including assays, is required to determine the source. Crunchy Hill was previously confirmed to host an epithermal gold system during a 2019 scout drilling campaign. Additional fieldwork is planned to locate the heart of the system. Concurrently, an Anaconda mapping program has been completed at the Awacha porphyry copper target, and a geophysical survey is planned for the Kuri-Yawi epithermal target.
Aurania Resources announced the grant of 2,154,000 stock options under its Incentive Stock Option Plan to directors, officers, employees, and consultants. This includes 54,000 options granted to directors in lieu of their second-quarter fees, with each director receiving 13,500 options at an exercise price of $0.46. The remaining 2,100,000 options were allocated to directors, officers, employees, and consultants.
The options are priced at C$0.46, exercisable for five years, and subject to standard vesting conditions.
Aurania Resources announced that shareholders approved all resolutions during the Annual and Special Meeting held on June 13, 2024.
Key approvals included the financial statements for the year ended December 31, 2023, the auditor's report, the appointment of auditors, the election of directors, and the incentive stock option plan for the upcoming year.
The meeting was followed by an update from CEO Dr. Keith Barron. Further details can be accessed in the Management Information Circular dated May 2, 2024, available on SEDAR and Aurania's corporate website.
Aurania Resources (TSXV: ARU) (OTCQB: AUIAF) (FSE: 20Q) announced the sale of its wholly-owned Peruvian subsidiary, Sociedad Minera Vicus Exploraciones S.A.C., to Palamina Corp. This transaction includes Aurania receiving 350,000 common shares of Palamina and a 1% Net Smelter Return (NSR) royalty on certain mining claims in Peru. Palamina can buy back half of the NSR for $1,000,000 at any time. Aurania’s President and CEO, Dr. Keith Barron, expressed satisfaction with the agreement, citing Palamina’s commitment to adding value to the Peruvian project while Aurania focuses on its activities in Ecuador and France.
Aurania Resources has scheduled its Annual and Special Meeting of Shareholders for June 13, 2024, at 1:30pm EST. The meeting will take place at their corporate office in Toronto. During the meeting, President & CEO Dr. Keith Barron will provide a brief update on company activities and future plans. Shareholders are encouraged to vote before the proxy deadline on June 11, 2024, at 1:30pm EST. The meeting materials, along with the annual financial statements for the year ending December 31, 2023, and the interim financial statements for the period ending March 31, 2024, are available on SEDAR+ and the company's website.
FAQ
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