• 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.