Aurora Acquisition Corp (AURC)

[MUSHROOMKING]

Reports from industry sources in Moscow, and a bulletin from the Aton brokerage last week, suggest that gold mining assets throughout the former Soviet Union are being sought by Russian consolidators, because they are currently undervalued. This demand is helping to push up the price of shares of such Russian gold miners as Highland Gold -- recently taken over by Roman Abramovich -- and Celtic Resources, acquired by Severstal steel magnate, Alexei Mordashov. According to Aton, "we consider that Severstal and Roman Abramovich are far from finishing consolidation of the new gold business. In our opinion, this means that other small gold mining companies in Russia and the republics of the former USSR can shortly become targets of acquisition." Oxus is one of the potential targets, the report concludes.

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