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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.
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