Executive Chairman Ivan Bebek of Auryn Resources Inc. (NYSE: AUG), returns to Stock Day to talk about recent round of fundraising, upcoming drilling projects, and potential for a large scale discovery in Peru.
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Auryn’s Executive Chairman, Ivan Bebek, Discusses ‘Undervalued’ and ‘Underestimated’ Sombrero Project on Uptick Newswire’s Stock Day Podcast
PHOENIX, AZ / ACCESSWIRE / April 8, 2019 / Uptick Newswire Stock Day Podcast welcomed Auryn Resources Inc. (NYSE American: AUG) (“the Company”), a technically driven junior exploration company focused on finding the next globally significant copper and gold discoveries. Executive Chairman and Director, Ivan Bebek, spoke to Stock Day host, Everett Jolly, about the Company’s Sombrero project being the most exciting of his career.
“This project continues to tell us we’re underestimating what could be there.”, stated Bebek. The potential scale and grade at Sombrero have Bebek excited. The Company recently released surface results that included 232 meters of 0.55% copper equivalent, with a high-grade internal interval of 40 meters of 1.26% copper equivalent. Bebek says this is a considerable width of surface mineralization with grade that is on par with nearby producing mines. Bebek compared it to a nearby deposit called Las Bambas, which was sold for $8 billion in 2014.
“Each time we go to Sombrero and we get more data off the surface, we find more and have increasing confidence that we could be onto a copper-gold discovery in Peru.”, stated Bebek. When Jolly asked about the Company’s next steps for the project Bebek shared that Auryn is amidst permitting the site to begin drilling in August.
The Company also recently closed a private placement, and Jolly asked what the funds will be used for. Bebek explained that the Company has purposely kept its financing relatively small as to not dilute shareholder value, and there was no discount or warrants issued. However, the financing was oversubscribed internally, as Bebek says there was $1 million CAD of insider purchasing, which is the single largest purchase by insiders to date. The private placement closed at about $5.25 million CAD –which Bebek says will support the Company’s continuous surface work at Sombrero and the upcoming drill program at the project.
Jolly then asked Bebek about Auryn’s flagship in northern Canada, Committee Bay. Bebek stated that the Company has had a thorough exploration program at the site for the past four years, which only equates to approximately nine months of on-the-ground work because of the seasonality up north. However, Auryn recently introduced artificial learning technology, which Bebek believes could be a game-changer. He says the technology is making use of the high-quality data from the site to generate new drill targets that are under glacial cover (which covers 95% of the belt), shallow lakes, as well as targets that line up with those generated by Auryn’s technical team.
To close the interview, Bebek shared that he believes the Company’s stock price is undervalued, but he doesn’t expect this to last for long. Within the next few months, the Company expects to begin drilling at what could be one of the biggest discoveries in the past two decades. Right now, is the most opportunistic time for those interested in becoming shareholders to get involved.
To hear Ivan Bebek’s entire interview, follow the link to the podcast here: https://stockdaymedia.com/featured-interview-executive-chairman-ivan-bebek-of-auryn-resources-inc-nyse-aug-3/
About Auryn Resources, Inc.
Auryn Resources is a technically-driven, well-financed junior exploration company focused on finding and advancing globally significant precious and base metal deposits. The Company has a portfolio approach to asset acquisition and has seven projects, including two flagships: the Committee Bay high-grade gold project in Nunavut and the Sombrero copper-gold project in southern Peru.
Auryn’s technical and management teams have an impressive track record of successfully monetizing assets for all stakeholders and local communities in which it operates. Auryn conducts itself to the highest standards of corporate governance and sustainability.
Forward Looking Information and Additional Cautionary Language
This release includes certain statements that may be deemed “forward-looking statements”. Forward-looking information is information that includes implied future performance and/or forecast information including information relating to or associated with the acquisition and title to mineral concessions. These statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements of the Company to be materially different (either positively or negatively) from any future results, performance or achievements expressed or implied by such forward-looking statements. Readers should refer to the risks discussed in the Company’s Annual Information Form and MD&A for the year ended December 31, 2018 and subsequent continuous disclosure filings with the Canadian Securities Administrators available at www.sedar.com and the Company’s registration statement on Form 40-F filed with the United States Securities and Exchange Commission and available at www.sec.gov.
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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