Shares of Auric Mining Company (PINK: AUMY), an investment and management enterprise that acquires and operates profitable energy companies with strong historical cash-flow and sustainable profitability, are up sharply in trading today after the company secured an additional asset backed financial guarantee commitment.
At last check, AUMY shares were trading 100% higher at $0.0018 on above average volume of 49.82 million.
Auric Mining secured an additional asset backed financial guarantee commitment of $40 million, taking its total commitment to $60 million for ongoing development.
The increase in financing commitment enables AUMY to expand the scope of its recently announced acquisitions and partnership initiatives. Recently, AUMY announced completion of first phase of its due diligence on 7 properties.
AUMY has also put in place the required financial and human resources and management to leverage the substantial inherent resource value at these near-term production scenarios.
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