AuKing Mining Ltd ( (AU:AKN) ) has provided an announcement.
AuKing Mining Limited announced that Orion Resources Pty Ltd has secured a non-binding indicative financing term sheet for US$25 million to advance the Cloncurry Gold Project. This financing will enable Orion to acquire project assets, complete feasibility studies, and progress mining operations, marking a significant milestone in their efforts to resume gold production. The funding is expected to be provided by a reputable North American lender, highlighting the project’s potential and strengthening Orion’s position in the mining sector.
More about AuKing Mining Ltd
AuKing Mining Limited is a company involved in the mining industry, focusing on gold production and exploration. It has a strategic interest in the Cloncurry Gold Project in northern Queensland, with the potential to acquire a significant stake in Orion Resources Pty Ltd, which is advancing this project.
Technical Sentiment Signal: Buy
Current Market Cap: A$2.87M
Learn more about AKN stock on TipRanks’ Stock Analysis page.