AuKing Mining Limited (ASX:AKN) Enters Strategic Agreement with Gage Capital
Strategic Agreement with Gage Capital
AuKing Mining Limited (ASX:AKN) has entered into a two-part agreement with Beijing-based Gage Capital Management Co., Ltd. Gage Resources Pty Ltd, an Australian subsidiary, will subscribe for 60 million new shares at A$0.005 each, raising $300,000 for the company’s working capital. Additionally, Gage Capital will acquire two non-core prospecting licences in Tanzania for A$300,000, contingent on the establishment of a Tanzanian subsidiary, access to pertinent information, Mining Commission approval, and registration on the Mining Registry.
Mkuju Project Focus
The sale of these prospecting licences does not impact AuKing’s plans to commence drilling at its highly prospective Mkuju uranium project in southern Tanzania. The licences sold are contiguous to AuKing’s other interests at Mkuju, but there are no high priority drilling targets within these areas.
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