Diversified mining company Mineral Resources (MinRes) is buying more rights near its Carina iron-ore mine in the Yilgarn Hub of Western Australia’s Goldfields, fellow ASX-listed Aurumin reported on Friday.
The junior is selling the iron-ore rights on its Mt Dimer exploration tenement to MinRes for up to A$1.5-million and a royalty on ore exported.
"This agreement allows Aurumin to unlock further value from Mt Dimer, complementing the sale of the mining tenements to Beacon Minerals, and will allow further reduction of the Convertible Note. We maintain upside from both progress payments and future production and look forward to working with MinRes on the exploration programme,” said Aurumin MD Brad Valiukas.
Mt Dimer is a past-producing project, having previously delivered more than 125 000 oz of gold from openpit and underground production.