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Aurumin Ltd. ( (AU:AUN) ) just unveiled an announcement.
Aurumin Limited has entered into binding term sheets with Newcam Minerals Pty Ltd for a $4 million joint venture to develop the Johnson Range and Mt Dimer gold projects, allowing Newcam to earn up to a 50% interest. This agreement provides Aurumin a non-dilutive pathway to gold production and includes a $1 million cash sale of non-gold rights at Sandstone, enhancing the company’s balance sheet. These transactions are expected to support the near-term development of the Gwendolyn deposit, with the potential to significantly impact Aurumin’s operations and market positioning as a pure-play gold developer.
More about Aurumin Ltd.
Aurumin Limited is a company in the mining industry, focusing primarily on gold exploration and development. The company is involved in projects such as the Johnson Range and Mt Dimer gold projects and aims to streamline its portfolio to concentrate on gold production.
Average Trading Volume: 614,007
Technical Sentiment Signal: Buy
Learn more about AUN stock on TipRanks’ Stock Analysis page.