Aurania Resources downgraded at Noble Capital on lack of exploration visibility

As previously reported, Noble Capital downgraded Aurania Resources to Market Perform from Outperform. Noting that Aurania filed all appropriate documentation for the renewal of its 42 mineral exploration concessions in Ecuador in March, the firm says that the company is making good progress toward negotiating a flexible plan for the payment of its concessions. However, it lowered its rating on the shares pending the outcome of negotiations and greater visibility related to its exploration program.