Aurelia’s Shares Tumbled On ASX After The Release Of Hera And Dominion Exploration Update

Aurelia Metals Limited (ASX:AMI) is into mining & exploration activity. The company operates in metals like gold, silver, lead, zinc, and copper. The company has two fully owned base metal mines Hera and Peak gold in central west new south Wales. The company is currently working on the production and exploration of the Hera-Nymagee project. This includes gold and base metal deposits of high grade.

The company is working on further developments in Hera operation. This will help the company to gain significant advantages in improved metal recoveries, increased throughput and lowering its operating costs. Aurelia is also working on the exploration programme of a near mine. The company is also actively evaluating for any opportunities of evolving copper deposit at Nymagee.Â

The updates of the company related to the exploration of Hera and Dominion exploration includes:

1. The drilling in the areas of upper North Pod resulted in high-grade polymetallic intercepts. This confirmed the opening of the lode.
2. The results of drilling at the Hebe Prospect, southeast of Hera was very encouraging.
3. Surface drilling is started at Dominion and Hera Main Southeast prospects.

The Managing Director & CEO, of Aurelia, Jim Simpson stated that the North Pod results confirm the very high-grade base metals and lower gold grades as the orebody extends up dip. He also mentioned that the discovery of the significant mineralization at Hebe would be the focus of further exploration. The further start of drilling at Dominion and the south of Hera are major components of the exploration plan during the first half of 2019.

Diamond drilling is also started at the Dominion site. The company already reported of testing a position adjacent to the high-grade oxide mineralization. Along with additional grade data, the diamond drilling will provide important geological, structural and mineralogical information, which is otherwise not easily inferred from the RC percussion drilling. The initial diamond drilling program at Dominion, however, is expected to be completed in early January.

On the operational front, the company went through a significant transformation over the past year. The operational diversity and cash flow are increased as a result of the acquisition of Peak Mines. The balance sheet of the company has improved with the repayment of debts, and the Company’s ownership structure has been changed with the orderly sell-down of the company’s former significant shareholder in Pacific Road Capital Management. This was achieved whilst Hera delivered an excellent production result for the year, positioning the mine as one of Australia’s lowest cost gold producers.

On another release on ASX, the company also announced about the appointment of Mr. Paul Harris as an independent, non-executive director.

Let us now quickly analyze the performance of the Aurelia Metals stock price today and the return it has produced over the past few months. Following the above news, the stock price of the company decreased by 2.041% on 18 December 2018. Currently, it is trading at $0.720. The stock has yielded a YTD return of 149.15%, and it posted a return of 31.25% over the last six months span. It has a current market capitalization of $637.89 million.

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