AUR - Auris Minerals

[pixel]

Threat?
Opportunity?
If 5.7c were to hold support, it might be the latter. But it needs volume to prove itself either way.

 

[greggles]

Huge day for Auris Minerals today, as well as Sandfire Resources (SFR) and Fe Limited (FEL), although the AUR share price has shown the largest increase so far, up 73.68% as I type this.

Sandfire Resources announced this morning that it has intersected narrow zones of massive sulphides and supergene copper mineralisation at the Morck's Well Project approximately 22km south-west of its 100%-owned DeGrussa Copper Mine in Western Australia. The project is a farm-in between AUR, SFR and FEL. The drilling samples are being sent for analysis and and Sandfire intend to expand exploration activities including follow-up ground EM surveys, and aircore and deep reverse circulation drilling, which should commence in the coming week.

 

[barney]

Long time sine AUR chart has had much to cheer about …..

They have increased their interest in the Cheroona JV with NST …. Shares up 26% so far today.

 

[Trav.]

@barney do you think people took the opportunity to exit their positions today as AUR has been trending down for a while or just day traders jumping on the band wagon? ( I know you dont have the definitive answer but I like to get your thoughts )

Very high volume just under 12M

Intraday chart below showing most of the action at the start of the session then a few closing out at EOD.

 

[barney]

@barney do you think people took the opportunity to exit their positions today as AUR has been trending down for a while

Just looked at the pre open Trav and it looks a bit lack lustre at face value.

The first spike off a long term bottom is often an opportunity for those in pain to jump ship as you say.

I rarely get involved on 1st spikes anymore cause you get burned too many times. See what happens after the dust settles …. The 2nd spikes are usually a lot more readable.

 

[greggles]

Long time sine AUR chart has had much to cheer about …..

Things have certainly changed in the last 2 months. Up from 2c at the start of June to a high of 14c yesterday. You don't see those kind of 60 day gains too often.

This quote from the COO in the most recent Quarterly Activities Report is a good summary of what's been going on with AUR recently:

Auris Chief Operating Officer, Mike Hendriks said:“The June quarter has been very positive for Auris on both the copper and gold fronts, highlighted by the announcement of a maiden copper resource for the Forrest and Wodger deposits and further high grade gold mineralisation intersected within wide spaced, regional air core drilling by Sandfire Resources within the Morck Well JV.”

“The copper resource estimates at the Forrest and Wodger deposits provide a solid base to infill and extend with further drilling, especially given the current strong copper price, currently around $8,700/tonne.”

“The high grade gold mineralisation intersected within the regional drilling at the Morck Well JV, highlights the gold prospectivity and potential of the project and the 100% Auris Feather Cap project to the west. Further regional and infill drilling is required and assays to be received.”

“The company looks forward to updating shareholders on these activities in due course”

If Friday's move is anything to go by AUR may have some more short term steam left in it.