AuKing Mining Limited (ASX:AKN) announced that it has signed deal with Anglo Australian Resources NL (ASX:AAR) to acquire 25% interest in the Koongie Park JV and PGE rights across the Koongie Park tenure package for AU$6 million. The purchase price would be payable in three tranches.
AKN would fund the purchase price from the proceeds of a combined proposed rights issue to current shareholders along with a planned private placement to sophisticated investors.
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