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Resource Mining Corporation Limited ( (AU:RMI) ) has shared an announcement.
AuKing Mining Limited, an ASX-listed company, has entered into a binding agreement with Resource Mining Corporation Limited (RMI) to sell its interests in a joint venture in Saudi Arabia. This decision aligns with AuKing’s strategic focus on its Cloncurry Project and other existing exploration interests. The joint venture in Saudi Arabia, established with Barg Alsaman Mining Co, includes the Wadi Salamah and Shaib Marqan projects. RMI has the option to acquire AuKing’s stake, which includes assuming all rights and obligations under the joint venture, without cost, except for aiding the exploration process. If RMI does not exercise the option, AuKing’s interests will revert to BSMC.
More about Resource Mining Corporation Limited
Average Trading Volume: 526,596
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$4.57M
See more insights into RMI stock on TipRanks’ Stock Analysis page.
