AuKing Mining Ltd (ASX: AKN) managing director Paul Williams talked with Proactive’s Tylah Tully about the company’s progress at the Cloncurry Gold Project and its ongoing collaboration with Orion Resources.
Williams outlined AuKing’s initial 15% interest in the project and how Orion Resources was acquiring key assets, including the Lorena processing plant.
He explained Orion’s ‘hub and spoke’ business model, where a centralised plant processed material from multiple projects, offering a strategic advantage in the region.
A major highlight is the Tick Hill Project, historically known for its high-grade gold deposits.
AuKing Mining has entered into an MoU to collaborate on processing materials from Tick Hill through the Lorena plant.
Williams emphasised that this agreement set the stage for potential early operations at Lorena, even before Orion finalised its asset acquisition in April.
He also discussed the $2 million capital raise being conducted by GBA Capital to support Orion’s acquisition efforts and fund study work at Tick Hill.
AuKing Mining is working closely with Orion to ensure the transition is seamless and that studies and refurbishments are completed efficiently.
Looking ahead, AuKing Mining aims to finalise studies, assemble the necessary personnel and commence site preparations, ensuring a smooth ramp-up of operations post-acquisition.