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AUKING MINING LIMITED — Capital/Financing Update 2023
Mar 14, 2023
64355_rns_2023-03-14_f60087df-1e05-4d8d-a6d1-5dc6b6bc9aaa.pdf
Capital/Financing Update
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ASX:AKN ABN 29 070 859 522 Phone 07 3535 1208 www.aukingmining.com
AuKing Mining Limited Suite 2208, Level 22 127 Creek Street Brisbane Queensland 4000
15 March 2023
ASX RELEASE
AUKING COMPLETES T2 PLACEMENT, RAISING $2.13M
AuKing Mining Ltd (ASX: AKN) (AuKing, the Company) today announced it has successfully completed its second tranche (T2 Placement) capital raising for a further $2,126,000 at a 10c issue price - a premium of 69% to its closing share price on 14 March 2023.
The Company recently completed the acquisition of a substantial portfolio of assets in Tanzania prospective for uranium and copper development opportunities.
As approved by AKN shareholders on 16 December 2022, the T2 Placement has now been completed, with the issue of 21,260,000 shares and 10,630,000 free-attaching options exercisable at 20c on or before 30 September 2025 to private sophisticated investors.
AuKing’s CEO, Mr Paul Williams, said completion of the T2 Placement at an issue price of 10c per share is an important sign of investor confidence in the Company’s proposed drilling and other exploration activities in Tanzania.
“This funding allows AuKing to proceed immediately with its proposed drilling and related activities at the Manyoni and Mkuju uranium projects in Tanzania,” said Mr Williams.
“AuKing is also on target to present the findings in the coming weeks of its Scoping Study for the proposed mining operations based around the Sandiego deposit at the Company’s Koongie Park project in north-eastern Western Australia,” he said.
AuKing has sufficient resources to pursue its appeal that has been filed with the Minister of Minerals in Tanzania in relation the two revoked Prospecting Licences at Manyoni.
Authorised for release by Paul Williams, CEO.
For more information, please contact:
Paul Williams Gareth Quinn Chief Executive Officer Investor Relations Mobile +61 419 762 487 Mobile + 61 417 711 108 [email protected] [email protected]
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