Aurumin Ltd. (AU:AUN) has released an update.
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Aurumin Ltd has announced a promising joint venture opportunity with Newcam Minerals Pty Ltd, potentially worth up to $7 million, to explore and develop iron ore rights at its Central Sandstone Project. The deal includes an upfront payment and shared exploration costs, with Newcam also offering a loan for production start-up, further strengthened by an additional payout upon the discovery of high-grade iron ore reserves. This strategic venture aims to enhance shareholder value by accelerating project development and mitigating financial and logistical risks.
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