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

Advancing the Cloncurry Gold Project in North Queensland, while holding interests in copper, uranium and critical metals assets in other regions.

Terra Clean Energy President and CEO Greg Cameron.

Terra Clean Energy Ramps Up Summer Drilling Plans, Eyes Resource Update

Terra Clean Energy (CSE:TCEC,OTCQB:TCEFF,FWB:C9O0) President and CEO Greg Cameron outlines the company's upcoming summer drill program at the South Falcon East uranium project, building on strong results from a winter campaign at the Fraser Lakes B deposit.

“The plan is to get up to 2,500 meters back into this new area of interest. Hopefully drill into what we're defining as an unconformity basement-hosted uranium deposit with significantly higher grade than we currently have,” he said.

“We would have the ability to update that resource report in some fashion, maybe early 2026 or mid-2026, so those are the two key catalysts. But it's all about drilling and adding pounds to the current resource and, more importantly, significantly enhancing that grade which we think we have," Cameron added.

Keep reading...Show less
Placement Shares Issued & Drilling Approval Expected August

Placement Shares Issued & Drilling Approval Expected August

GTI Energy (GTR:AU) has announced Placement Shares Issued & Drilling Approval Expected August

Download the PDF here.

Yellow uranium rock on dark stones with ASX logo in the corner.

Top 3 ASX Uranium Stocks of 2025

Uranium broke out in 2024, with the spot price rising to a 17 year high of US$106 per pound early in the year. Despite a pullback to about US$78, uranium is still more than 40 percent higher than it was two years ago.

Although the market is dealing with ample supply and uncertain demand in 2025, experts are predicting a bright future as countries around the world pursue energy security goals.

Against that backdrop, ASX-listed uranium companies have been making moves in 2025.

Keep reading...Show less
North Shore Uranium (TSXV:NSU)

North Shore Uranium Engages Investing News Network

North Shore Uranium Ltd. (TSX-V:NSU) ("North Shore" or the "Company") is pleased to announce that it has entered into an advertising and investor awareness campaign agreement (the "INN Agreement") with Dig Media Inc. dba Investing News Network ("INN").

INN is a private company headquartered in Vancouver, Canada, dedicated to providing independent news and education to investors since 2007 at www.investingnews.com. On July 4, 2025, the Company entered into the INN Agreement. The INN Agreement will be for a three-month term, with three equal payments of $2,750 that will be paid at the beginning of each month, totaling $8,250 (GST excluded). The INN Agreement will not automatically renew. INN will provide advertising to increase awareness of the Company with the first campaign commenced on July 4, 2025. INN does not provide Investor Relations or Market Making services. INN currently holds no common shares in the Company. INN and the Company are unrelated and unaffiliated entities.

Keep reading...Show less
Canadian and Saskatchewan flags waving under a clear blue sky.

15 Uranium Companies Exploring Canada's Athabasca Basin

Uranium market watchers know that Canada’s Athabasca Basin is among the world’s richest uranium jurisdictions and hosts several of the highest-grade uranium deposits on the planet.

Spanning close to 100,000 square kilometers of the Canadian Shield of Northern Saskatchewan and Alberta, the Athabasca Basin is a major contributor to Canada’s status as the second largest uranium producer and the third largest country by uranium reserves.

Unsurprisingly, the region is home to the world’s largest uranium mine, Cigar Lake. The mine reports average grades of 14.69 percent U3O8 and accounts for 14 percent of global uranium production.

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

×