Well-funded Aurora Minerals (ASX:ARM) is preparing to divulge details of a proposed corporate transaction and funding arrangement.
The ASX has granted the company time to organise through a trading halt. Aurora's shares are currently in pre-open.
Earlier in the week Golden Rim Resources (ASX:GMR) advised that its shareholders endorsed a resolution whereby Aurora will convert A$1.65 million of its $3 million loan to Golden Rim into Golden Rim ordinary fully paid shares.
The price of the shares will be $0.008, resulting in Aurora becoming a 19.5%
shareholder in the company.
Aurora holds $5.8M (May 2014), and has a 41.3% stake in Desert Mines and Metals (ASX:DSN).
Considering a market cap. around $5 million, Aurora is trading under cash backing plus has additional listed assets on top.
The halt will remain in place until the opening of trade on Monday 14th July 2014, or earlier if an announcement is made to the market.
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