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August
17
2017

Bet on the Jockey, not the Horse
Bob Moriarty

I first wrote about Aurania Resources back in March. The shares were $1.25 then and are $2.36 now. Keith the Barron did a private placement four months ago. The shares come free trading in a week. It may be the last chance to jump on this wagon.

Over the past sixteen years I have visited a lot of projects. And I’ve met a thousand or more geologists. Everyone has their own idea of whom the best are at anything but after having met most of the players in the industry, I’m convinced I know who are in the top five.

In no particular order you would have Peter Megaw who pretty much invented mining in Mexico. The mining industry began a slow death when the Mexican Revolution began around 1910. By 1939 socialism in the country had pretty much destroyed the mining industry as investment capital dried up.

Dr. Megaw saw the potential in the country and spent 25 years educating himself on various deposits. When Mexico finally realized they needed investment capital from abroad, he founded and helped dozens of companies sink roots in Mexico. He’s the brains behind Mag Silver, Excellon and many others. When someone calls me and tells me he is on board, I know everything I need to know about the deposit. I don’t have to know anything about the vehicle, all I need to know is who the jockey is.

Quinton Hennigh is the same. He’s the brains behind Novo Resources. They look as if they have found one of the biggest gold deposits in Australia in history, in an area where gold has been mined for well over 130 years. He recognized the potential for a massive discovery twenty years ago in Witwatersrand age basins and only lately has proved it. If Quinton Hennigh signs off on a project or a company, you need to know no more.

If you ask anyone in the industry about who was behind the concept of mining massive but low-grade copper porphyries, the answer would be David Lowell. He has made more major discoveries all over the world than anyone I know including Escondida, the largest copper mine in the world and Pierina. David Lowell literally is Mr. Copper. David Lowell finds giant deposits. If he is riding, you need to belly up to the betting window.

I haven’t met every single geologist in the world so I won’t list my five best, I have to keep at least one slot open but certainly one of the best gold projects discovered in the last twenty years would have to be Keith Barron's, who restarted mining in Ecuador with his discovery of the Fruta del Norte gold mine with 13.7 million ounces of high-grade gold.

Keith’s company, Aurelian, sold the deposit to Kinross but the government in Ecuador turned both stupid and greedy at the same time as governments do on a regular basis. Kinross gave the project away to Lundin Gold in 2014.

Ecuador turned smarter and more sober lately. They missed the millions of dollars mining companies poured into their economy. Led by SolGold juniors are hitting home runs out of the park again. In the past 18 months SolGold has rocketed from £.03 to £.47, a 1400% advance. Even the government of Ecuador is waking to the possibility of earning money through royalties.

Keith Barron is back with yet another venture in Ecuador. This time he’s looking for the two missing lost cities of gold. No kidding. If it were anyone but Keith Barron I would be convinced someone had been hitting the cerveza a little too hard. After all, the Lost Cities of Gold? Are you kidding me?

Keith is doing a wonderful job of communication and has put out five videos telling the story. It’s not crazy talk; there were seven major gold production areas in Ecuador under the Spanish. Five have been located. In two, the locals ran the Spanish off and told them not to come back any time soon. The Spanish didn’t but the two locations did exist and need someone to find them.

When I heard the story, I bought shares in Aurania. No one on earth knows more about Ecuador and the potential than Keith Barron. You and I don’t need to know much as long as we know him. Let him do all the thinking and hard work.

I own shares in Novo Resources and Aurania and both companies are advertisers. Naturally I am biased. Do your own due diligence.

Aurania Resources
ARU-V $2.39 (Aug 15, 2017)
22.8 million shares
Aurania Resources website

 

 

 

Bob Moriarty is a unique human being by any standard; he was a pilot who served two tours during the Vietnam War, and he is also a Patriot who believes that the United States is fighting wars and arming people that it shouldn’t, around the world. Moriarty is also a world class investor who has accumulated a treasure trove of investing wisdom throughout his nearly fifty years as an investor.

 

 

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