Aurora Minerals (ASX:ARM) has executed an agreement with African Lion 3 Limited.
African Lion will subscribe for 14,975,036 Aurora shares at $0.059, and Aurora will acquire from African Lion 66,691,417 shares in Predictive Discovery (ASX:PDI) at $0.01 per share.
The investment in Predictive represents Aurora's second strategic investment in gold exploration in West Africa and in particular Burkina Faso.
It is complementary to the objectives of Golden Rim Resources (ASX:GMR), in which Aurora recently acquired a 19.95% stake.
Predictive has built a prospective tenement package comprising the Bonsiega project in the Fada N’Gourma greenstone belt situated in the east of the country and along strike from the Samira Hill gold mine.
As a cornerstone shareholder, Aurora with work with Predictive and Golden Rim to unlock the potential of this well endowed gold region.
Aurora also holds Aurora holds over $5 million in cash and 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.
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