AuKing Mining Ltd (ASX:AKN) has changed up its board as part of the Orion Resources Ltd transaction.
In late November, the company advanced its growth strategy by entering into an earn-in agreement with Orion, which is acquiring a significant portfolio of mining and exploration assets, along with processing facilities, in northwest Queensland.
The package includes the Lorena processing plant and associated infrastructure, about 15 kilometres east of Cloncurry, as well as a range of exploration and mining tenements in the surrounding area.
Under the terms of the agreement, AuKing can secure a 15% interest in these assets by investing A$1.5 million in exploration activities by December 31, 2025.
As part of the Orion transaction, Mark Fisher, Dr Kylie Prendergast and Nick Harding will join the board as additional directors.
AuKing’s managing director Paul Williams said the company “was very fortunate to secure the services of three experienced senior mining and exploration professionals as additional …