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Resource Mining Corporation Limited ( (AU:RMI) ) just unveiled an update.
Resource Mining Corporation Limited has entered into a binding term sheet with AuKing Mining Limited to acquire AuKing’s interest in joint venture projects in Saudi Arabia, specifically the Wadi Salamah and Shaib Marqan projects. Initial rock chip sample assays from the Wadi Salamah project have shown promising gold concentrations, providing a focal point for further exploration. The Shaib Marqan project, located in the under-explored Ar Rayn Terrane, is awaiting an exploration license from the Saudi Ministry of Industry and Mineral Resources. The results from this area validate historical gold findings and set the stage for a detailed sampling program, potentially impacting the company’s exploration strategy and market positioning.
More about Resource Mining Corporation Limited
Resource Mining Corporation Limited is a Perth-based specialist mineral exploration company focused on creating wealth through the exploration of economic metal deposits in Tanzania and Finland.
Technical Sentiment Signal: Buy
Current Market Cap: A$2.66M
For an in-depth examination of RMI stock, go to TipRanks’ Stock Analysis page.