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AuKing Mining Ltd ( (AU:AKN) ) just unveiled an announcement.
AuKing Mining Limited has entered into a binding term sheet with Resource Mining Corporation Limited, granting RMI an option to acquire AuKing’s interests in a joint venture in Saudi Arabia. This decision aligns with AuKing’s strategic focus on the Cloncurry Project and other exploration interests, as the company redirects resources away from the Saudi venture. The transition will involve RMI assuming AuKing’s obligations in the Saudi JV, including assisting in securing necessary licenses and commencing exploration activities.
More about AuKing Mining Ltd
AuKing Mining Limited is an Australia-based mining company primarily involved in the exploration and development of mineral resources. The company focuses on expanding its interests in mining projects globally, with recent ventures including joint ventures in Saudi Arabia and the Cloncurry Project in Australia.
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$2.06M
Find detailed analytics on AKN stock on TipRanks’ Stock Analysis page.
