AuKing Mining (ASX:AKN) signed a deal to acquire the underexplored Grand Codroy uranium project in Canada, according to a Wednesday filing with the Australian bourse.
The mining firm is set to acquire the project in exchange for AU$50,000 in cash, AU$150,000 worth of the mining firm's shares or 21.4 million shares issued at AU$0.007apiece, a deferred payment of AU$100,000 worth of shares, and a 2% smelter royalty, the filing said.
Shares of Auking Mining plummeted 25% in recent Wednesday trade to reach a new 52-week low.
Price (AUD): $0.01, Change: $-0.0020, Percent Change: -25.00%
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments