Why I Like Auryn Resources:
1) The People:
I wrote up and picked Director Ivan Bebek's Quicksilver Resources at $1CA many years ago. The stock became Keegan Resources then Asanko. The stock had a high of $9.59CA and they proved up a mine. After that he was involved in Cayden Resources which was recently bought by Agnico Eagle (AEM on the TSX, trades $42+). Ivan has had no problems financing companies he has been involved with.
[ Asanko Gold Chart ]
[ Cayden Resources Chart ]
The CEO is Shawn Wallace who was also involved in Asanko and Cayden. 23 years of experience.
The COO is Michael Henrichsen. Previously Mr. Henrichsen was the global structural geologist at Newmont, where his contributions significantly increased the reserves and resources base in the Ahafo district Ghana. Mr. Henrichsen has also worked extensively at other major gold camps in South America, the Carlin Trend, Guinea, and Canada.
SVP Corporate Finance is Daryl Rebeck. Prior to joining Auryn he was a Vice President and Senior Investment advisor with Canada's largest independent investment bank, Canaccord Genuity, where he was responsible for raising significant risk capital for growth companies, with a particular focus on natural resources.
2) Cash Is King:
The company recently financed and now has roughly $10 Million in the bank. I've watched these people raise money, and they don't have any problems financing for millions of $$ at a time.
3) The Market:
The stock is moving up nicely. Broker Raymond James has bought just over a million shares since the beginning of October, and hasn't sold any. One or more brokers at that firm is accumulating whatever comes out. I like to get in at the beginning even if it is an expensive shell.
The company is actively reviewing projects and with this advanced management team I know they will come up with a great project for the company.
Have a great week!
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