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Avrupa Minerals TSX: AVU Advances Gold, Copper, and Tungsten Exploration Projects in Portugal Despite Challenges to the Market

on 1/10/2014

Paul Kuhn, CEO and Director of Avrupa Minerals TSX: AVU, took a few moments to share with Metals News the progress that his company has made on their gold projects around the world.

Said Kuhn, “We are really busy as you might expect.  I have just come back from the New Orleans show.  Prior to that I had a booth at the Munich conference.”  Kuhn and his team have been traveling to spread the news about what Avrupa Minerals has been able to accomplish in Europe despite the challenges to the market.  He said, “The New Orleans show was quite slow, but Munich was busy.  There was a moderate amount of knowledgeable interest from the German investors.”  Kuhn did see the hallmarks of a slow market at his latest U.S. show.  He said, “Unfortunately, in New Orleans, the sentiment was pretty low key.  It wasn’t as well attended as in the past.”

Despite his disappointments with the New Orleans show, Kuhn and his team have been giving the market information on the progress they have made in the recent past.  He said, “We put out a news release announcing an additional investment from Callinan Royalties on one of our properties.  We signed an exploration alliance with them for a property in Portugal.”  This new investment will give Avrupa Minerals additional leverage to explore new properties in the area.  Said Kuhn, “That gave us an opportunity to designate new properties and new targets as royalty properties.”  The investment will provide funding that will last the company for the near term, bring in new projects, and upgrade an existing project to JV-ready in Portugal.  Kuhn said, “With their agreement, they will give us an additional $150,000 dollars.  In addition, we will get $350,000 dollars in a private placement.” 

Even though the overall mining sector has been down, Kuhn is happy with Avrupa’s financial progress.  He said, “We have been pretty pleased with how the financial situation is going.  We raised money at $0.10 cents instead of $0.03 cents.”  Their stock is weathering the economic storm  in a solid fashion as well.  Kuhn said, “Our stock isn’t high, but it has stayed steady even after the financing.” Kuhn believes the steady nature of the stock price is due to the fact that investors realize the company is making good decisions.  He said, “I’d like to hope we are doing the right thing.”

The philosophy of the company has remained steady as well.  Said Kuhn, “It continues to be that we are a prospect generator.”   He believes that their success lies in their level of fiscal responsibility. Kuhn said, “We use our raised money wisely.  For every dollar we raise, we are able to spend $1.50 because we are efficient in our equity raising.  If a person wanted to invest in Avrupa, they’d know they are getting a good value.  That is a good thing at the moment.”

Currently, the company has a focus on Europe.  Said Kuhn, “We have great properties in Portugal.”  In Portugal, the company has several joint venture partners.  Kuhn said, “Blackheath Resources is continuing to fund our Covas tungsten drilling program. The drilling program in the Pyrite Belt with Antofagasta Minerals will start again in January.  We are looking at good geology.  We are getting good results.” Kuhn believes that gives them an edge in the markets.  He said, “All of that adds up to some investor confidence.  There isn’t a lot out there right now.”

Their work in Portugal is the focus of their operations and exploration.  Said Kuhn, “Portugal is our main program.  We have nine licenses.  We have 3000 square km of land.”  He believes that they will get more support from the market because they are working with well-known companies in the mining sector as partners.  Kuhn said, “We have a joint venture with Antofagasta.  We have a joint venture with Blackheath, too.  is going to support us on our southern Portugal Alvito project.” 

The money given to Avrupa Minerals for their project in the south will be used to attract another partner to forward the project even further than Avrupa has been able to take it to date.  Said Kuhn, “They are going to help us upgrade the property a bit more to attract a solid joint venture partner.  We have identified an IOCG target area.  We have discovered an epithermal area and some silver anomalies on that vein.  We are drilling with Blackheath.”  Outside of Portugal, Avrupa is working on a German project.  Said Kuhn, “We are doing a bit of follow up work on our German project near Dresden. That is a gold and tin target.”

Despite the challenging markets, Kuhn is optimistic about the future for Avrupa Minerals.  He said, “We are continuing on our best properties and we are generating new ideas for Europe.  We are pretty busy.  We have $500,000-750,000 dollars in our treasury.  Some of it is already designated for projects. Some of it is not designated.  We are good for the next six months.  If I can get another joint venture we’ll be fine.  I don’t want to have to go to the market right now.  It is pretty grim.  We want to see our stock move forward.  Once the market starts to move forward, we should get good support from the market.  A number of the newsletter writers have taken notes on what we are doing and seem to be quite positive about our progress.”  Even with the harsh realities of the market, Kuhn takes a lighthearted approach.  He said, “It is pretty fun right now.  We are toughing it out in a bad market.  We are surviving, but we are making progress, which sets us apart from other companies.  We are moving ahead, but very carefully.  We are working in Europe.  We are looking for gold and copper and tungsten in areas that have been overlooked by other explorers.  That has been a successful modus operandi for us.”

 

http://www.avrupaminerals.com/

Avrupa Minerals
Head Office
410-325 Howe Street
Vancouver, BC  V6C 1Z7  Canada
Phone:  +1-604-687-3520
Fax:  +1-888-889-4874
Email: 
info@avrupaminerals.com



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