Canadian Exploration Company ‘Setting the Stage for a Busy 2019’28th February 2019
By The Gold Report
Source: Streetwise Reports 02/25/2019
A new target for the share price reflects the potential of new targets for the firm, a ROTH Capital Partners note explains.
In a Feb. 20 research note, analyst Joe Reagor reported ROTH Capital Partners increased its target price on Auryn Resources Inc. (AUG:TSX; AUG:NYSE) to US$3.25 per share from $3 because “2019 could be a significant year for the company as it examines new targets at Committee Bay and Sombrero.” Auryn’s current share price is US$1.11.
Helping determine plans for 2019, Reagor highlighted, Auryn recently identified, through machine learning, 12 new targets at Committee Bay in Nunavut. The company will need to test these targets for their potential but given there are so many, “it is likely one or more could produce positive results in 2019 and beyond,” he wrote.
In other news, Auryn began trenching at Sombrero in Peru earlier this month to define the surface expression of deposits there. Reagor commented, “Ultimately, we believe Sombrero could quickly become the flagship asset of Auryn, and we have revised our valuation of the company to reflect this potential.”
To fund future exploration, at Committee Bay and/or Sombrero, Auryn likely will divest of one or more noncore assets, Reagor reported.
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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.
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Disclosures from ROTH Capital Partners, Auryn Resources Inc., Company Note, February 20, 2019
Regulation Analyst Certification (“Reg AC”): The research analyst primarily responsible for the content of this report certifies the following under Reg AC: I hereby certify that all views expressed in this report accurately reflect my personal views about the subject company or companies and its or their securities. I also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report.
Within the last twelve months, ROTH has received compensation for investment banking services from Auryn Resources Inc…
ROTH makes a market in shares of Auryn Resources Inc. and as such, buys and sells from customers on a principal basis.
Shares of Auryn Resources Inc. may be subject to the Securities and Exchange Commission’s Penny Stock Rules, which may set forth sales practice requirements for certain low-priced securities.
Within the last twelve months, ROTH has managed or co-managed a public offering for Auryn Resources Inc.
ROTH Capital Partners, LLC expects to receive or intends to seek compensation for investment banking or other business relationships with the covered companies mentioned in this report in the next three months.
( Companies Mentioned: AUG:TSX; AUG:NYSE,
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