Aurumin Ltd. (AU:AUN) has released an update.
Aurumin Ltd. has completed the sale of a 51% stake in the Mt Palmer Project to Kula Gold, with Kula taking on the commitment to spend an additional $1M over three years to potentially increase their interest to 80%. The historic Mt Palmer mine, known for high-grade gold production, is a part of this deal, and Aurumin retains a 1% royalty option if its interest falls below 10%. Aurumin’s Managing Director expresses confidence in Kula’s future contributions to the project while shifting Aurumin’s focus to its Sandstone operations.
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