Targeting Gold Production in Egypt by 2026

Published: 5/17/2024

Author: FRC Analysts

Thumbnail of the report Targeting Gold Production in Egypt by 2026

*This report and research coverage is paid for and commissioned by Aton Resources Inc. - See the bottom of this report for other important disclosures rating, and risk definitions. All figures in C$ unless otherwise specified.

Sector: Basic Materials | Industry: Other Industrial Metals & Mining

Ticker Symbols:ANLBF - NASDAQ 🔹AAN.V - TSX.V 🔹

Rating and Key Data

Metrics	Value
Current Price	0.32
Fair Value	0.63
Risk	5
52 Week Range	0.15-0.35
Shares O/S (M)	127
Market Cap. (M)	41
Current Yield (%)	N/A
P/E (forward)	N/A
P/B	N/A

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Report Highlights

We are resuming coverage on Aton Resources. Aton is advancing multiple gold projects in Egypt’s Arabian Nubian Shield (ANS). Egypt is a vastly underexplored geologically rich country.
Management’s strategy involves implementing a hub-and-spoke approach, supported by a central processing plant, managing ore from multiple projects.
Two institutional investors own 86% of Aton’s equity, which we believe signifies a strong vote of confidence in Aton’s portfolio.

Aton’s portfolio consists of 12 projects at various stages, with NI 43-101 compliant resources totaling 0.83 Moz AuEq across two projects (Hamama and Abu Marawat), In a

Rating and Key Data