AuKing Mining

Assignment and Extension of $750,000 Short Term Funding Agreement

AuKing Mining Limited (ASX: AKN) advises that the short term $750,000 funding agreement announced on 19 April 2024 has been assigned and extended for a further four months.


AuKing’s Managing Director, Mr Paul Williams, advised that the Company’s Chairman, Mr Peter Tighe had acquired the loan facility rights from Evolution Capital Pty Ltd and agreed to provide a further four month extension of time for the loan to be repaid by the Company. He said this was a significant show of support in the Company by its Chairman and now allows the proposed rights issue capital raising to proceed without allocating funds from that raising to debt retirement. Details of the rights issue will be made available to shareholders shortly.

The primary revised terms of the short-term loan facility are as follows:

Lender: Mr Peter Tighe (having purchased these rights from Evolution Capital Pty Ltd)

Facility Limit: A$750,000

Term: 30 November 2024 (“Due Date”)

Interest: 15% per annum payable monthly in arrears (note the annual rate previously was 30%)

Purpose of Loan: Working capital and initial project funding


For more information, please contact:
Paul Williams Managing Director
Mobile +61 419 762 487
p.williams@aukingmining.com


Click here for the full ASX Release

This article includes content from AuKing Mining, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

AKN:AU
AuKing Mining

AuKing Mining Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
AuKing Mining (ASX:AKN)

AuKing Mining


Keep reading...Show less
C29 Metals

New Tenements Approved to Commence Geological Works

C29 Metals receives Category 4 exploration works approval for the new southern & northern tenements, strong local support, and a Social Support Agreement signed. Drilling Permit received for Ulytau Uranium project area.

C29 Metals Limited (“C29” or the “Company”) is pleased to announce that it has received Category four (4) exploration approval enabling the immediate commencement of tenement wide, geophysical, field mapping and soil sampling programs at its newly granted southern and northern tenements.

Keep reading...Show less
GTI Energy

Activity Update

GTI Energy Ltd (GTI or Company) is pleased to provide the following activity update. The anticipated Mineral Resource Estimate (MRE) and Exploration Target (ET) updates for GTI’s Lo Herma ISR uranium project (Lo Herma) in Wyoming’s Powder River Basin remains on track to be delivered by year end. A decision will then be made on commencing an Interim Scoping Study for the project.

Keep reading...Show less

Cameco Reports Document Filings

All amounts in Canadian dollars unless specified otherwise

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

NexGen Announces Best Hole to Date and High-Grade Expansion at Patterson Corridor East Concluding a Successful 2024 Drilling Program

  • NexGen's 2024 exploration campaign delivered a new discovery on Rook I at Patterson Corridor East ("PCE") 3.5km east of Arrow.
  • Subsequent drilling has materially expanded the mineralized zone to 600 m strike length and 600 m vertical extent with 19 of 30 holes intersecting mineralization including 10 holes with multiple intervals >10,000 cps.
  • Today's announcement highlights the best hole to date at PCE (RK-24-222) returns 17.0 m wide vein with multiple high intensity (>61,000 cps) occurrences.
  • In 2024, PCE is the largest drill program in the Athabasca Basin by any Company at 34,000 meters (m).

NexGen Energy Ltd. ("NexGen" or the "Company") (TSX: NXE) (NYSE: NXE) (ASX: NXG) is proud to announce the completion of its 2024 drilling campaign at Patterson Corridor East (PCE) that included more than 34,000 m across a total of 46 drillholes. Upon initial discovery of intense uranium mineralization at PCE ( see March 11 News Release ), the Company directed all drilling activity to focus exclusively on PCE, whereby 19 of 30 holes intersected mineralization. Bold and systematic spacing of drillhole intercepts have quickly grown the discovery from a single hole to a broad and continuous new uranium discovery. Real-time evaluation of results throughout the duration of the program focused on determining the overall outer extents of the mineralized zone and in parallel, precisely targeting high-grade sub-domains (Figures 1 and 2, Table 1).

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Cameco logo surrounded by US dollars.

Cameco Raises 2024 Uranium Production Guidance, Boosts Dividend in Q3 Results

Major uranium producer Cameco (TSX:CCO,NYSE:CCJ) shared its third quarter results on Thursday (November 7), reporting a strong performance despite production setbacks at its Kazakhstan operations.

The company reported uranium production of 4.3 million pounds, up 43 percent from the year-ago period. Sales volumes came in at 7.3 million pounds, relatively flat from 7 million pounds in Q3 2023.

Revenue stood at $721 million, a 75 percent increase year-on-year. Cameco's net earnings attributable to shareholders were $7 million, a decrease of 95 percent from the $148 million seen 12 months ago.

Keep reading...Show less
AuKing Mining (ASX:AKN)

Rock Chip Samples Confirm Gold Mineralisation at Shaib Marqan

AuKing Mining Limited (ASX: AKN, AuKing) is pleased to advise that recent rock chip sample assays have confirmed potentially significant gold mineralisation at the Shaib Marqan project in Saudi Arabia.

Keep reading...Show less
AuKing Mining

AuKing Mining Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×