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AuKing Mining Ltd ( (AU:AKN) ) has provided an update.
AuKing Mining Limited has entered a strategic agreement with Beijing-based Gage Capital Management, involving a share placement and the sale of prospecting licenses in Tanzania. Gage will acquire 60 million shares in AuKing, representing a strategic 10% stake, and purchase two Tanzanian licenses for A$300,000. The transaction is expected to bolster AuKing’s working capital and enhance its project advancements, while the sale of licenses does not impact its core drilling plans in Tanzania.
More about AuKing Mining Ltd
AuKing Mining Limited operates in the mining industry, focusing on the exploration and development of mineral resources. The company is primarily engaged in projects across Australia, Tanzania, and Canada, with interests in uranium and other resources.
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$2.06M
For detailed information about AKN stock, go to TipRanks’ Stock Analysis page.
