Aurora Minerals Group of companies spans 3 continents with investment in two gold exploration and development companies and molybdenum-tungsten projects.
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Aurora has investments in companies operating in Burkina Faso, Cote D’Ivoire and South Korea, with exploration activities returning very encouraging results.
In Burkina Faso, where the group controls the Samira Hill Greenstone Belt, Predictive Discovery has defined a 184,000oz gold Resource and 460,000 to 563,000oz gold Exploration Target and Golden Rim a 500,000oz to 611,000oz gold Exploration Target. In addition Predictive Discovery is growing its presence in the highly prospective greenstone belts of Cote D’Ivoire.
Exposure to South Korea is via the 35.8% stake in Peninsula Mines (ASX: PSM), which has properties over historical mining areas, and a strong relationship with KORES, the state mining and investment agency.
The value of Aurora’s investments and cash is $0.062/share – the current share price of $0.026 is at a 58% discount to this, and is also at a 13% discount to cash backing of $0.030/share.
We rate Aurora as a SPECULATIVE BUY, with key price movers including exploration success by its associates.
Aurora Minerals Limited is a Perth based ASX-listed junior exploration company with a strategy of growth through direct investments in other ASX listed junior exploration companies. As part of the strategy Aurora also facilitates funding via loans to associates.
Investments to date include Predictive Discovery (ASX: PDI, 43.9%), Golden Rim Resources (ASX: GMR, 13.4%) and Peninsula Mines (ASX: PSM, 35.8% and a ~$500K loan).
Aurora Minerals Limited (ASX: ARM, “Aurora” or “the Company”) has undertaken a strategy of investing in ASX listed junior exploration companies to gain leveraged exposure to prospective exploration projects. This allows the Company to benefit from the substantial cost of previous work completed (>$50 million in the case of current investments), established field teams and in country expertise and the ability to invest at bottom of the cycle values.
To date, Aurora has invested in three companies, Golden Rim Resources (ASX: GMR, “Golden Rim”, 13.4%), Predictive Discovery Limited (ASX: PDI, “Predictive”, 43.9%) and Peninsula Mines Limited (ASX: PSM, “Peninsula”, 35.8%), and having effective control of Predictive and Peninsula, including board representation. Between them, Predictive and Golden Rim control most of the Samira Hill Greenstone Belt in eastern Burkina Faso. The ~1,700km2 tenement package is along strike from the +2Moz Samira Hill Mine in neighbouring Niger...
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Official website: http://www.auroraminerals.com.au/
ASX on Hotcooper: http://hotcopper.com.au/asx/ARM