AuKing Mining secures key partnerships and raises $2M to advance Cloncurry Gold Project-To The Moon - Tiger Brokers Online Investing Community - To The Moon

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AuKing Mining secures key partnerships and raises $2M to advance Cloncurry Gold Project

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AuKing Mining (ASX:AKN) announced two developments regarding its Cloncurry Gold Project in northwestern Queensland.

The company has secured a binding memorandum of understanding with Orion Resources and Tick Hill Mining, the current owner of the Tick Hill gold mine.

Additionally, AuKing has commenced a $2 million note raising with GBA Capital to support Orion’s project acquisition and development.

The MoU aims to assess the viability of processing tailings and other ore materials from Tick Hill at the Lorena processing plant.

The move could pave the way for the re-commencement of gold production in the region.

Managing Director Paul Williams emphasised the impact of these developments, "The new MoU with Tick Hill mine owners is an exciting development as an option to be considered to create an early pathway for the re-commencement of gold production at the Lorena processing plant."

The GBA Capital raising will enable crucial project development studies and potentially expedite Orion's acquisition plans.

The funds will be channelled towards resource updates, drilling, and establishing a path to a maiden reserve at Mt Freda.

AuKing remains committed to leveraging historical data while ensuring compliance with JORC Code 2012 for future exploration activities.

At the time of reporting, AuKing Mining's share price was $0.040.

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.

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The GBA Capital raising will enable crucial project development studies and potentially expedite Orion's acquisition p","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"AKN.AU":"AUKING MINING LTD","BK7509":"中概股","BK7095":"多种金属与采矿"},"translate_title":"AuKing Mining获得重要合作伙伴关系并筹集200万美元以推进Cloncurry金矿项目","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AKN.AU":1},"content_text":"AuKing Mining (ASX:AKN) announced two developments regarding its Cloncurry Gold Project in northwestern Queensland.\nThe company has secured a binding memorandum of understanding with Orion Resources and Tick Hill Mining, the current owner of the Tick Hill gold mine.\nAdditionally, AuKing has commenced a $2 million note raising with GBA Capital to support Orion’s project acquisition and development.\nThe MoU aims to assess the viability of processing tailings and other ore materials from Tick Hill at the Lorena processing plant.\nThe move could pave the way for the re-commencement of gold production in the region.\nManaging Director Paul Williams emphasised the impact of these developments, \"The new MoU with Tick Hill mine owners is an exciting development as an option to be considered to create an early pathway for the re-commencement of gold production at the Lorena processing plant.\"\nThe GBA Capital raising will enable crucial project development studies and potentially expedite Orion's acquisition plans.\nThe funds will be channelled towards resource updates, drilling, and establishing a path to a maiden reserve at Mt Freda.\nAuKing remains committed to leveraging historical data while ensuring compliance with JORC Code 2012 for future exploration activities.\nAt the time of reporting, AuKing Mining's share price was $0.040.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1,"code":"91000000","status":"200"},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}