Investor Perception
With a portfolio of superior stage exploration property within the uranium, important minerals and base metals area, AuKing Mining is poised to execute and attain its targets of changing into a mid-tier producer, creating vital shareholder worth.
Overview
AuKing Mining (ASX:AKN) is an exploration and improvement firm with a portfolio of exploration property centered on uranium, copper and important minerals, in Western Australia, Tanzania and British Columbia, Canada. The corporate goals to turn out to be a mid-tier copper, uranium and important metals producer by way of the acquisition and improvement of near-term manufacturing property.
AuKing’s portfolio of property contains the Koongie Park copper-zinc challenge in Western Australia, the Mkuju uranium challenge in Tanzania, and the not too long ago acquired Myoff Creek niobium-REE challenge in British Columbia, Canada.
AuKing has acquired the uranium bearing mineral declare often known as the Grand Codroy uranium challenge roughly 50 km north of Port aux Basque, Newfoundland. Grand Cordroy spans 2,200 hectares and hosts a number of documented uranium occurrences positioned alongside a serious radiometric excessive.
The corporate is led by an skilled administration and board of administrators supporting and executing on the corporate’s strategic targets of changing into a mid-tier producer by way of its numerous challenge portfolio.
Firm Highlights
- AuKing Mining is an exploration and improvement firm with a portfolio of exploration property centered on uranium, copper and important minerals.
- The corporate holds a various portfolio of superior exploration property in Western (Koongie Park), Tanzania (Mkuju) and British Columbia, Canada (Myoff Creek)
- Koongie Park has a mineral useful resource estimate totalling 21.1 Mt throughout three well-explored deposits – Onedin, Sandiego and Emull.
- AuKing is led by a extremely skilled administration staff executing the corporate’s methods to extend shareholder worth.
Key Tasks
Mkuju Uranium Venture (Tanzania)
Mkuju is located instantly to the southeast of the world class Nyota uranium challenge that was the first focus of exploration and improvement feasibility research by then ASX-listed Mantra Sources Restricted (ASX:MRU). Not lengthy after completion of feasibility research for Nyota in early 2011, MRU introduced a AU$1.16 billion takeover provide from the Russian group ARMZ. The takeover was finalised in mid-2011.
Throughout the latter a part of 2023, AuKing Mining accomplished a Stage 1 exploration program at Mkuju which comprised a mix of rock chip, soil geochemistry sampling, shallow auger drilling and preliminary diamond drilling. Some very encouraging outcomes had been obtained from this program which have fashioned the idea for a proposed 11,000m drilling program that’s about to start at Mkuju. Outcomes included:
Auger drilling:
MKAU23_020 3m @ 1,273ppm U3O8 incl 1m @ 3,350ppm U3O8
MKAU23_045 3m @ 250ppm U3O8 incl 1m @ 410ppm U3O8
Soil samples:
MKGS006 510ppm U3O8
MKGS017 8,800ppm U3O8
MKGS056 960ppm U3O8
Rock chip samples:
MKGS056 2,250ppm
MKGS057 800ppm U3O8
Mkuju challenge location
Myoff Creek Niobium-REE Venture (British Columbia, Canada)
In July 2024, AuKing Mining accomplished the acquisition of the Myoff Creek niobium/REE challenge in British Columbia, Canada, recognized for its wealthy mineral deposits. The positioning gives glorious accessibility with well-maintained street infrastructure. The challenge highlights near-surface carbonatite mineralization that spans an space of 1.4 km by 0.4 km with high-grade historic drilling intercepts that embrace 0.93 % niobium and a pair of.06 % whole uncommon earth oxides.
There’s vital potential to increase the present goal space because it stays open at depth and alongside strike.
HERE AuKing’s exploration staff has accomplished a current web site go to to Myoff Creek and have recognized the necessity for an in depth airborne radiometric survey to be undertaken throughout the tenure space. This survey is predicted to start in This autumn of 2024 and can embrace protection of the world the place historic drilling recognized vital niobium/REE outcomes – thereby offering a “marker” for potential mineralization throughout the remainder of the Myoff Creek space.
Koongie Park Copper-Zinc Venture
Koongie Park challenge lies inside the extremely mineralized Halls Creek Cellular Belt. The world additionally hosts the Savannah (Sally Malay) and Copernicus nickel initiatives, the previous Argyle diamond mine and the Nicolsons gold mining operation of Pantoro Restricted. Koongie Park is positioned about 25 kms southwest of the regional centre of Halls Creek on the Nice Northern Freeway in northeastern Western Australia.
AuKing owns one hundred pc curiosity (topic to a 1 % internet smelter royalty) in Koongie Park and has obtained vital historic exploration and drilling because the Seventies. The challenge incorporates three deposits of be aware: Onedin and Sandiego copper-zinc-gold deposits, and the Emull copper deposit.
Onedin and Sandiego are each in superior exploration levels with a whole mineral useful resource estimate of 4.8 Mt and 4.1 Mt, respectively, containing copper, zinc, gold, silver and lead. The Sandiego prospect boasts a scoping research (launched in June 2023) that highlights an 11-year lifetime of mine with a processing capability of 750 ktpa and pre-production capex of $135 million for a 2.5 yr payback. Economics spotlight a pre-tax NPV of $177 million and 40 % IRR.
Koongie Park and neighboring challenge holdings
The Emull base metallic deposit has obtained vital drilling by earlier proprietor Northern Star Sources a number of years in the past and subsequently by AuKing in 2022. The deposit has a maiden useful resource estimate of 12.2 Mt, containing copper, zinc, lead and silver, with vital upside potential as extra drilling is carried out.
Grand Codroy Uranium Venture
The Grand Codroy uranium challenge covers 2,200 hectares with the presence of a number of documented uranium occurrences positioned alongside a serious radiometric excessive. The property is roughly 50 km north of Port aux Basque, Newfoundland.
Venture Highlights:
- Uranium Mineralisation: Uranium mineralisation inside in depth, organic-rich siliciclastic rocks is much like sandstone-hosted uranium districts within the western United States.
- Excessive Grade Samples: Notable high-grade historic rock samples together with:
- Grand Codroy River #6 (Pattern 153) – >20,000ppm (2%) Cu and 435ppm U
(Pattern 3522) – >20,000ppm (2%) Cu and 400ppm U - Grand Codroy River #4 – 22,000ppm (2.2%) U
- Overfall Brook – 595ppm U
(Supply – Newfoundland Labrador Dept of Trade, Power and Expertise)
- Grand Codroy River #6 (Pattern 153) – >20,000ppm (2%) Cu and 435ppm U
- Important Exploration Potential: Grand Codroy tenure space largely untouched by trendy exploration. Observe the spectacular outcomes being reported by Infini Sources Restricted (ASX:I88) at its Portland Creek uranium challenge, to the north of Grand Codroy in western Newfoundland.
- Strategic Location: The mineral declare is strategically located roughly 50 km north of Port aux Basque, Newfoundland.
- Glorious Accessibility: The positioning gives glorious accessibility with well-maintained street infrastructure main on to the world.
- Capital Elevating: Placement of $130,000 to stylish buyers with Melbourne’s boutique Peak Asset Administration main the Placement, along with upcoming entitlement provide to current shareholders.
Board and Administration Crew
Peter Tighe – Non-executive Chairman
Peter Tighe began his profession within the family-owned JH Leavy & Co enterprise, which is among the longest established fruit and vegetable wholesaling companies within the Brisbane Markets at Rocklea. Because the proprietor and managing director of JH Leavy & Co, Tighe expanded the corporate together with extremely revered farms and packhouses which have been happy to provide the corporate with high-quality fruit and greens for wholesale/export for over 40 years. Tighe has been a director of Brisbane Markets Restricted (BML) since 1999 and is at present the deputy chairman. BML is the proprietor of the Brisbane Markets web site and is answerable for the continuing administration and improvement of its $400 million asset portfolio. Because the proprietor of the positioning, BML has over 250 leases in place together with promoting flooring, industrial warehousing, retail shops and business workplaces. BML acknowledges its position as an financial hub of Queensland, facilitating the commerce of $1.5 billion value of contemporary produce yearly, and supporting native and regional companies of the horticulture trade.
Tighe (along with his spouse Patty) owns Magic Bloodstock Racing (MBR), a thoroughbred horse racing and breeding firm. MBR has acquired many horses that are educated and raced throughout Australia and around the globe together with “Winx”, one of many best thoroughbreds of all time profitable greater than $26 million in prize cash.
Paul Williams – Managing Director
Paul Williams holds each Bachelor of Arts and Legislation Levels from the College of Queensland and practised as a company and business lawyer with Brisbane authorized agency HopgoodGanim Attorneys for 17 years. He in the end grew to become an fairness accomplice of HopgoodGanim Attorneys earlier than becoming a member of Jap Company as their chief govt officer in August 2004. In mid-2006, Williams joined Mitsui Coal Holdings as common counsel, taking part within the supervision of the coal mining pursuits and enterprise improvement actions inside the multinational Mitsui & Co group. Williams is well-known within the Brisbane funding group in addition to in Sydney and Melbourne and brings to the AKN board a broad vary of business and authorized experience – particularly within the context of mining and exploration actions. He additionally has a powerful deal with company governance and the significance of clear and open communication of company exercise to the funding markets.
ShiZhou Yin – Non-executive Director
ShiZhou Yin holds a Grasp of Skilled Accounting diploma and is a Chinese language-certified public accountant and a senior accountant. From September 1994 to September 2010, Yin served successively as accountant of Beijing No. 2 Water Pipe Manufacturing facility, audit supervisor and audit accomplice of Yuehua Licensed Public Accountants Agency, and senior accomplice of Zhongrui Yuehua Licensed Public Accountants Co.
From April 2017 to the current time, Yin has been vice-president, chief monetary officer and secretary of the board of JCHX Group Co..
Yin has additionally been the chairman of the board of supervisors of JCHX Mining Administration Co. (Shanghai Inventory Alternate Code: 603979) since Could 2017. JCHX Mining Administration is one in all China’s largest mining providers firms with operations around the globe and has a share market capitalization of approx. US$5 billion.
Chris Bittar – Exploration Supervisor (MGeoSc, MComm (Finance), BMSc)
Chris Bittar was beforehand senior challenge geologist at Pantoro Restricted’s Norseman Venture in Western Australia, the place he supervised the planning and execution of near-mine exploration and useful resource improvement packages as a part of the Definitive Feasibility Research program at Norseman.
Previous to his Pantoro position, Bittar held senior geologist roles with Millennium Minerals (Nullagine Gold challenge) and Pilbara Minerals (Pilgangoora Lithium challenge), and exploration geologist roles with Sumitomo Metallic Mining Oceania and Northern Minerals (Browns Vary uncommon earths challenge in WA). In these roles, Bittar gained in depth expertise in taking initiatives from greenfield exploration to useful resource improvement and as much as mine-ready feasibility research stage. This expertise included supervision of a number of drilling campaigns, geological interpretation, knowledge administration and challenge reporting. Bittar has additionally maintained a powerful dedication to firm security insurance policies and procedures.
Paul Marshall – Chief Monetary Officer and Firm Secretary
Paul Marshall is a chartered accountant with a Bachelor of Legislation diploma, and a submit Graduate Diploma in Accounting and Finance. He has 30 years {of professional} expertise having labored for Ernst and Younger for 10 years, and subsequently twenty years spent in business roles as firm secretary and CFO for a lot of listed and unlisted firms primarily within the sources sector. Marshall has in depth expertise in all elements of firm monetary reporting, company regulatory and governance areas, enterprise acquisition and disposal due diligence, capital elevating and firm listings and firm secretarial obligations.
