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AuKing Mining Ltd ( (AU:AKN) ) has shared an announcement.
AuKing Mining Ltd has announced two major developments related to its Cloncurry gold project in Queensland. The company has signed a Memorandum of Understanding with Orion Resources and Tick Hill Mining Pty Ltd to pursue the re-commencement of gold production at the Lorena processing plant. Additionally, a $2 million private note raising with GBA Capital has been initiated to support Orion’s acquisition of the Cloncurry Project and related development studies. These developments are expected to advance AuKing’s strategic ‘hub and spoke’ model for copper and gold projects in the region, potentially enhancing early cash flow and market positioning for the company.
More about AuKing Mining Ltd
AuKing Mining Limited is a mining company listed on the Australian Securities Exchange (ASX: AKN) focusing on copper and gold projects. The company is involved in mining operations and project development, particularly in the Cloncurry region of north-western Queensland, with a strategic emphasis on leveraging existing processing facilities for multiple projects.
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$2.87M
For an in-depth examination of AKN stock, go to TipRanks’ Stock Analysis page.
