- Aurumin (AUN) announces the acquisition of Kurnod Pty Ltd, expanding its footprint in the Sandstone region.
- The newly acquired tenements offer significant exploration potential and complement Aurumin’s existing mining operations.
- $32,087 (cash consideration) & one million shares at 0.03 cents
- The acquisition strengthens Aurumin’s position for future gold production in the Sandstone area.
- AUN is trading at 2.6 cents
Aurumin (AUN) has announced the acquisition of Kurnod Pty ltd. This move expands the company’s footprint and enhances its exploration opportunities in the area.
“We are pleased to be further expanding our footprint in the Sandstone region with these tenement applications…” Managing Director of Aurumin said.
“…including a great addition directly adjacent to Aurumin’s existing mining tenements at Sandstone. The tenements, when granted, will provide additional exploration opportunity as we focus on generating critical mass for future production at Sandstone.”
The newly acquired tenement applications, E57/1294 and E57/1302, are located in proximity to AUN’s existing tenure at the 881,000-ounce gold Sandstone Project.
These projects have a total gold resource of nearly one million ounces. Both tenement applications are situated within the proven Youanmi Terrane Greenstone in WA.
The Youanmi Terrane Greenstone has a history of exploration success and gold production. The Sandstone region has already yielded more than 1 million ounces of gold.
The acquisition provides additional exploration opportunities and strengthens Aurumin’s position for future gold production in the Sandstone area.
The terms of the acquisition include a cash consideration of $32,087, the issuance of 1 million Aurumin Limited shares at a deemed issue price of $0.03, and a 1% net smelter return (NSR) royalty.
Aurumin’s acquisition of Kurnod Pty Ltd demonstrates its commitment to expanding its presence in the Sandstone region. AUN aims to further unlock the rich mineral resources of the area.
AUN last traded at 2.6 cents