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- AuKing Mining (AKN) achieves the second earn-in milestone under their Koongie Park joint venture agreement with Anglo Australian Resources (AAR), two years ahead of the due date
- The Koongie Park gold and base metals project is situated in the Hall Creeks region of north-eastern Western Australia
- AKN acquired a 25 per cent interest in the Koongie Park project in December by completing the first earn-in milestone funding expenditure
- The final 25 per cent interest in Koongie Park has now been acquired by completing the second earn-in milestone funding expenditure of $1.5 million, bringing the total project interest to 75 per cent
- Shares in AKN were trading 9.68 per cent higher at 17 cents
AuKing Mining (AKN) has achieved the second earn-in milestone under their Koongie Park joint venture agreement with Anglo Australian Resources (AAR), two years ahead of the due date.
The Koongie Park gold and base metals project is situated in the Hall Creeks region of north-eastern Western Australia.
AKN acquired a 25 per cent interest in the Koongie Park project in December by completing the first earn-in milestone funding expenditure.
This took the total project interest to 50 per cent.
The final 25 per cent interest in Koongie Park has now been acquired by AKN via completion of the second earn-in milestone funding expenditure of $1.5 million.
This brings the total project interest to 75 per cent.
The milestone was achieved by January 17.
AKN CEO Paul Williams said the acquisition of the 75 per cent Koongie Park project interest is an important milestone for the company.
“Based on the results from the drilling program in 2021, AKN is building a strong platform for future development activities at Koongie Park,” said Mr Williams.
Shares in AKN were trading 9.68 per cent higher at 17 cents.
