AuKing’s Managing Director, Mr Paul Williams, said now the acquisition has been completed the Company would take an aggressive approach to exploration at its new Myoff Creek niobium/REE project.
“We are continuing to see strong interest from investors with companies seeking to develop critical minerals projects, especially niobium and rare earths. The Myoff Creek project presents AuKing with an excellent opportunity to attract some of that investor attention. While we aim to continue with exploration activities at our other projects, including the Mkuju uranium project in Tanzania, the immediate focus of our exploration team will be to generate results from Myoff Creek over the coming weeks,” said Mr Williams.
Myoff Creek Acquisition Terms
AuKing has now completed the acquisition of all the shares in Australian-registered company North American Exploration Pty Ltd (NAE). NAE owns 100% of eight (8) contiguous claims that comprise the Myoff Creek Project. A summary of the acquisition terms is as follows:
Empire Capital Partners Pty Ltd will be paid an introduction fee comprising 10M options exercisable at 3c on or before 30 April 2027 as a result of the NAE option agreement being entered into. The issue of these options is also subject to approval being obtained at the EGM.
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