AuKing Mining Ltd ( (AU:AKN) ) has issued an update.
AuKing Mining Limited has announced significant progress in the Cloncurry Gold Project, as Orion Resources Pty Ltd moves closer to resuming gold production. Orion is finalizing the acquisition of the Lorena plant and associated mining licenses, with approvals from the Department of Natural Resources and Mines underway. The project aims to capitalize on high gold prices, with strategic plans for phased resource growth and cost-effective operations. The re-commencement of mining at Mt Freda and early processing opportunities at Tick Hill are key focuses, potentially enhancing cash flow and project value. AuKing has the right to acquire a 50% stake in Orion, offering potential value creation for its shareholders.
More about AuKing Mining Ltd
AuKing Mining Limited is a company in the mining industry with a focus on gold production. It is involved in acquiring and developing mining projects, with a particular interest in the Cloncurry Gold Project in northern Queensland.
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$3.45M
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