Business
Aurania Provides Update and Directors Receive Options in Lieu of Fees
Toronto, Ontario--(Newsfile Corp. - October 2, 2023) - Aurania Resources Ltd. (TSXV: ARU) (OTCQB...
About this update from Aurania Resources Ltd.
[{"type":"text","content":"Aurania Provides Update and Directors Receive Options in Lieu of FeesToronto, Ontario--(Newsfile Corp. - October 2, 2023) - Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (FSE: 20Q) (\"Aurania\" or the \"Company\") provides a brief update and announces that its directors received their quarterly director fees in the form of stock options in lieu of cash for the period ended September 30th (see press release dated April 12, 2023).On September 29, 2023, each director was granted 26,800 stock options at an exercise price of $0.235 in lieu of their director fees for Q3 2023. An aggregate of 107,200 stock options were granted. The stock options will be exercisable for three years and will vest on September 29, 2023. The Company will grant stock options equivalent in fair value to the director fees forfeited each quarter during 2023, at an exercise price of one cent above the closing price of Aurania's shares the day prior to the grant and exercisable at any time for a period of three years following the date of issuance.Update on Ecuador and FranceThe next President of Ecuador will be determined in a run-off election on October 15. The two candidates, Luisa Gonzalez (UNES - Correa's party) and Daniel Noboa (ADN - centrist, business-aligned) are expected to be supportive of responsible mining. Gonzalez was in first place with 34% of the votes on August 20th, and Daniel Noboa held 24% of the votes at that time. The winning candidate will be in power until the next president is elected in Ecuador's regularly scheduled election in the first half of 2025. After the first-round results, Noboa emerges as the candidate with the most promising prospects for the presidency in the upcoming second round. This is because González's room for growth on her 34 percent showing remains limited to those supportive of Correa's former Socialist government (2007-2017). Noboa, by contrast, is positioned to secure substantial backing from voters who had initially supported a variety of \"anti-Correísmo\" candidates. At time of writing, Noboa is ahead in the polls, from 5-8%. He has already met with the Ecuador Chamber of Mines, of which Aurania is a member, and recognizes the importance of mining to the Ecuador economy. Whomever wins the election will take office in December.In the meantime, Aurania's CSR team continues to work with local commu...