Skip to content
Finance Investment, Oil Mining Resources

Aurumin Limited (ASX: AUN) – Sale of Mt Dimer Mining Tenements – Progress Update

Aurumin Limited (ASX: AUN) 2 mins read

Aurumin Limited (ASX: AUN), an ASX-listed mineral exploration Company focused on two project areas in Western Australia, is delighted to announce the successful execution of a Tenement Sale Agreement with Beacon Minerals Ltd for the divestment of its Mt Dimer mining leases and miscellaneous licenses, collectively known as the Mt Dimer Mining Tenements. These tenements, hosting the high-grade Lightning and Golden Slipper Deposits, are strategically located 120km north-east of Southern Cross.

Highlights of the Sale:

  • The transaction includes the sale of mining tenements M77/427, M77/428, M77/957, M77/958, M77/965, P77/4568, L77/0083, L77/0135, L77/0147, and several applications for additional licenses.
  • Aurumin will receive a cash consideration of $3.0M upon the completion of the sale.
  • Additionally, the company is set to receive a 2% net smelter return royalty on gold production from these tenements exceeding 12,000 ounces, as well as on all other minerals produced.

Progress on Conditions Precedent:

  • Completed conditions include Beacon's satisfactory due diligence, the execution of the formal sale agreement, and the royalty agreement.
  • Remaining conditions to be fulfilled include the execution of access agreements, assignment or novation of relevant third-party agreements, obtaining all necessary regulatory, statutory, and ASX approvals, and the release of all security interests over the Mt Dimer Mining Tenements, excluding existing royalties.
  • These conditions are expected to be satisfied by 15 December 2023, or a later date as agreed between the parties.

Use of Proceeds:

The proceeds from this sale are earmarked for reducing the outstanding balance of the Convertible Note held by CollinsStreet Asset Management Pty Ltd, as previously announced on 15 December 2021.

This sale marks a significant milestone for Aurumin Limited, aligning with our strategic focus and commitment to enhancing shareholder value. We look forward to a smooth completion of the remaining conditions and a fruitful partnership with Beacon Minerals Ltd.

About us:

Aurumin Limited is an ASX-listed mineral exploration Company focused on two project areas in Western Australia. 

Contact details:

Jane Morgan


More from this category

  • Finance Investment, Oil Mining Resources
  • 01/12/2023
  • 09:50
Aurumin Limited (ASX: AUN)


Aurumin Limited (ASX: AUN), ASX-listed mineral exploration Company, is pleased to announce the appointment of Daniel Raihani as a non-executive director, effective as of today. This strategic addition to the board is expected to bring a wealth of experience and insight to the Company. Daniel Raihani, a seasoned Accountant and Tax Professional, is known for his extensive executive-level experience in both for-profit and not-for-profit sectors. His appointment comes at a time when Aurumin Limited is poised for significant growth and development. As the beneficial owner of 7 Enterprises Pty Ltd, which has recently become a substantial shareholder in Aurumin Limited,…

  • Contains:
  • Finance Investment
  • 01/12/2023
  • 08:52
Hut 8 Corp.

Hut 8 and USBTC Announce Completion of Business Combination

Shares of Hut 8 Corp. common stock are expected to begin trading on Nasdaq and the TSX on December 4 under the ticker symbol “HUT”Completion of the transaction creates a strong, diversified, and infrastructure rich organization with a pipeline of greenfield and brownfield opportunitiesTORONTO and MIAMI, Nov. 30, 2023 (GLOBE NEWSWIRE) -- Hut 8 Mining Corp. (Nasdaq | TSX: HUT), ("Hut 8” or the “Company”) one of North America’s largest, most innovative digital asset mining pioneers and high performance computing infrastructure providers, proudly announces the completion of its business combination pursuant to which Hut 8 and U.S. Data Mining Group, Inc.…

  • Energy, Finance Investment
  • 01/12/2023
  • 06:01
Friday 1 December 2023


Faster approvals for transmission projects, removing regulatory barriers to battery projects and the development of a local Sustainable Aviation Fuel (SAF) industry are some of the key recommendations set out in a new plan which could super-power the energy transition in Australia, while delivering returns to superannuation members now and protecting their retirement savings in the future. Released today by major profit-to-member super funds, AustralianSuper, ART, CareSuper, Cbus, HESTA, Hostplus, Rest Super, UniSuper, representing around $1 trillion of industry super capital, and industry superfund-owned IFM Investors, Super-powering the energy transition: A policy blueprint to facilitate superannuation investment, identifies policy solutions…

Media Outreach made fast, easy, simple.

Feature your press release on Medianet's News Hub every time your distribute with Medianet. Pay per release or save with a subscription.