Join our daily newsletter At The Bell to receive exclusive market insights
- Aurumin (AUN) agrees to sell tenement E15/1769, which makes up the company’s Karramindie project in WA’s Goldfields
- The company secures a cash consideration of $500,000 from Mineral Resources (MIN) subsidiary Lithium Resources Investments
- The sale allows Aurumin to focus on its core assets
- It is expected to be complete within the next two months
- AUN shares last traded at 2.6 cents
Aurumin (AUN) has agreed to sell tenement E15/1769, which makes up the company’s Karramindie project in WA’s Goldfields.
The company will secure a cash consideration of $500,000 from Mineral Resources (MIN) subsidiary Lithium Resources Investments.
The sale aims to reduce Aurumin’s holding costs and allows the company to focus on its core assets.
The deal weighs on MinRes completing due diligence and obtaining the necessary regulatory approvals.
The sale is expected to be complete within the next two months, with the earnings to reduce the outstanding balance of the convertible note held by Collins Street Asset Management.
AUN last traded at 2.6 cents.
