AuKing Mining Ltd (ASX:AKN) will raise A$400,000 in a share placement to advance gold project interests in the Cloncurry region of north-western Queensland, where the company is seeking to build a pipeline of prospective assets aligned with its growth strategy.
The placement, made to sophisticated investors and clients of GBA Capital Pty Ltd, will comprise 80,000,000 new fully paid ordinary shares issued at A$0.005 per share, in line with AuKing’s last traded price.
In addition to the new shares, the placement includes free-attaching options, subject to shareholder approval. Investors participating in the placement will receive one option for every two placement shares issued, resulting in 40,000,000 options with an exercise price of A$0.006 and an expiry date of December 31, 2026. These “$0.006 Options” will be put to shareholders for approval at an extraordinary general meeting (EGM) planned for January 2026.
GBA Capital acted as lead manager to the raising. In consideration for its role, GBA will receive a capital-raising fee of 6% on all funds raised under the placement. It is also proposed that GBA be issued 10,000,000 additional $0.006 options, also subject to approval by AuKing shareholders at the forthcoming EGM.
No change on Cloncurry Gold Propject acquisition
On the corporate front, AuKing has also provided an update on the previously announced proposed acquisition of Cloncurry Gold Project assets by Orion Resources Pty Ltd. The company last reported on this matter on November 6, 2025. At this stage, AuKing advises that there is no further definitive information available beyond that earlier update. Discussions and correspondence between the relevant parties remain ongoing in relation to the proposed transaction.
In parallel with the Orion process, AuKing is continuing to review and evaluate additional project opportunities within the broader Cloncurry district.
This work forms part of the company’s ongoing strategy to secure attractive, prospective gold assets in a well-established mining region and to position itself for future growth, subject to successful execution of transactions and exploration outcomes.