Aurumin to Divest Non-Core Assets to Raise AU$6 Million to Fast-Track Western Australia Project

MT Newswires Live

Sep 11

Aurumin (ASX:AUN) agreed to divest all non-Sandstone project assets in a series of transactions that will raise AU$6 million in cash, in a move supported by Brightstar Resources (ASX:BTR), according to a Thursday Australian bourse filing.

The net proceeds to be raised from the divestments will allow the firm to commence drilling and exploration activities.

The divestments include a AU$1 million sale of non-gold/silver rights at the Sandstone project to Newcam Minerals, a AU$3.5 million sale of the Johnson Range and Mt. Dimer projects in Western Australia to Newcam, a AU$200,000 sale of Aurumin's 20% joint venture stake in the Mt Palmer gold project to Newcam, and a AU$300,000 sale of three tenements forming part of the Mt. Dimer project to Yilgarn Iron.

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