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AuKing Mining Ltd ( (AU:AKN) ) has issued an update.
AuKing Mining Limited has secured a A$5 million credit facility from RiverFort Global Capital to accelerate the development of its Cloncurry Gold Project. This financing will enable AuKing to retire existing debt, provide working capital, and support project acquisition costs, positioning the company for near-term gold production. The Cloncurry Gold Project is strategically located in a prolific mining region and benefits from existing infrastructure, offering significant exploration and development potential. The RiverFort facility complements existing financing arrangements and underscores the project’s value and potential in the current strong gold market.
More about AuKing Mining Ltd
AuKing Mining Limited operates in the mining industry, focusing primarily on gold exploration and development. The company is actively engaged in the Cloncurry Gold Project located in north-west Queensland, Australia, which is known for its rich mining history and potential for resource growth. AuKing aims to leverage existing infrastructure and strategic partnerships to transition swiftly from acquisition to production.
Technical Sentiment Signal: Sell
Current Market Cap: A$4.82M
See more insights into AKN stock on TipRanks’ Stock Analysis page.