Aurumin Signs drill-for-equity deal for upcoming Sandstone program
- Aurumin (AUN) signs a drill-for-equity agreement with Topdrill, which will complete drilling at AUN’s Sandstone operations in Western Australia
- The company will be able to pay up to 50 per cent of the drilling costs using shares, up to a maximum amount of $1 million worth of shares
- The issue price of these shares will be determined by the company’s five-day volume-weighted average price immediately before each Topdrill invoice
- The drilling program will focus on recently-defined geochemical and structural targets at Sandstone and will begin early next year
- The platform shares are up 0.69 per cent to trade at 7.25 cents at 1:37 pm AEDT
