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The latest announcement is out from AuKing Mining Ltd ( (AU:AKN) ).
AuKing Mining Limited is set to finalize the acquisition of the Cloncurry Gold Project in early November, marking a significant step in its transition to a gold developer and near-term producer. This acquisition includes a 100% shareholding interest in Orion Resources Pty Ltd, enabling AuKing to utilize the strategically located Lorena processing plant for both its ore and third-party mill feed, enhancing revenue potential. The project spans 447km² with numerous exploration targets, offering substantial district-scale exploration potential. The acquisition is contingent on ASX approval and shareholder consent, with short-term funding secured by Orion to complete the purchase obligations.
More about AuKing Mining Ltd
AuKing Mining Limited operates in the mining industry, focusing on gold and copper-gold projects. The company is involved in exploration and development activities, with a market focus on leveraging strategic assets like the Cloncurry Gold Project in Queensland, Australia.
Technical Sentiment Signal: Sell
Current Market Cap: A$6.53M
Find detailed analytics on AKN stock on TipRanks’ Stock Analysis page.