Aura Energy Ltd - Australian minerals exploration firm - Moves to final stage of CAD4.5 million gold funding term sheet with Toronto-listed Chilean Metals Inc for Aura's gold, base and battery metal tenements in Mauritania. Deal will be between Aura and the new joint venture formed, named Achean Gold Inc. Achean Gold to be granted the licences on sales and receive CAD4.5 million in four scheduled payments before October 2021. Following this, Aura will own 50% of Achean Gold.
Also on Monday, Aura says it has filed documents with Supreme Court of Victoria to start proceedings against ASEAN Deep Value Fund. Claims ASEAN and associates breached rules on disclosures on substantial holdings. Aura seeks to have extraordinary general meeting called by ASEAN deferred from the current scheduled date of Friday.
Current stock price: 0.58 pence
Year-to-date change: more than doubled from 0.28 pence
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Aura Egy (AURA)