Aurumin Ltd (ASX:AUN) managing director Brad Valiukas tells Proactive the company is set to sell its Mt Dimer mining leases for a total of $3 million. Mt Dimer hosts the high-grade Lightning and Golden Slipper deposits, which are 120 kilometres northeast of Southern Cross. The company has secured a binding sale agreement with Beacon Minerals Ltd (ASX:BCN). As part of the agreement, Beacon has unconditionally pledged to invest $500,000 via a placement in the company within a five-day timeframe. Aurumin will receive $3 million on completion of the sale and a 2% net smelter return royalty on the Mt Dimer mining tenements on gold production above 12,000 ounces and on all other minerals.
Aurumin focused on advancing Sandstone following Mt Dimer sale
