AuKing Mining (ASX:AKN) entered into a binding term sheet with Resource Mining (ASX:RMI) granting the latter an option to purchase all of AuKing's rights, obligations, and interests in its joint venture in Saudi Arabia, according to a Monday Australian bourse filing.
The move comes after AuKing Mining obtained permission from its local Saudi partner, Barg Alsaman Mining.
The newly constituted AuKing board decided that it could not direct resources and available funds to the venture and focus instead on Orion's Cloncurry Project and other existing exploration interests.
No consideration will be payable by Resource Mining to AuKing if it exercises the option other than its agreement to assume all of AuKing's obligations under the venture and to help Barg Alsaman secure a Shaib Marqan license and the commencement of exploration activities at the Wadi Salamah project.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。