AuraMex has officially announced that the company attracted new investments of $2.1 million with the support of its existing shareholders. The new funds will be used to intensify the on-site exploration and drilling as well as to advance further works in the property portfolio. Thus, AuraMex has strategically positioned itself among other mineral exploration companies in its industry through new partnerships.
In 2019, AuraMex experienced rapid growth as its stock price went up. That enabled us to secure further funding for our mineral exploration projects. While the Canadian government aims to increase foreign investment participation in mining, AuraMex CEO Wayne Crocker announced a successful second tranche offering that led to the installation of new drills at the AuraMex property in Mexico. Installing new drilling equipment was among the most crucial factors for securing 10 million dollars in funding for the exploration programs.
The AuraMex team has spent the last several months fine-tuning the workings of its innovative mineral analyzer, which collects and analyzes surface samples to determine their chemical composition. The project is currently focused on demonstrating that the device can accurately identify the presence of gold, platinum, and silver. AuraMex is already developing relationships with leaders in gold mining and the oil industry, who aim to use the technology for various tests within their own fields. In short, this innovative method could dramatically improve the efficiency of mineral testing and offer an array of other benefits to multiple industries across the board.
AuraMex specializes in producing and applying technological solutions for geology and near-surface exploration. The management team of AuraMex has been active in the gold and uranium exploration industry for more than 20 years. The goal is to expand the technologies developed through an extensive research and development effort. The new investments will be directed toward covering the cost of research and funding current exploration works. On top of that, upper management aims at partnering up with businesses to attract new investments. "We need to be a step ahead of our financial needs, as our innovative approach takes the company into new territories," CEO Wayne Crocker stated.
