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Tusker Minerals Ltd (ASX:TSK)

ALERT: Price-sensitive ASX Announcement for TSK
Current share price for TSK : $0.065 -0.05 (-43.48%)+
Announcement
Release
5 Jun 2026 8:27AM
Price at Release
$0.115
Full Release
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Summary
AuKing Mining Limited announced an update regarding the Tundulu Project transaction terms. The transfer of the Tundulu exploration licence to AuKing's subsidiary, Tundulu Rare Earths Limited, is under review by the Mining and Minerals Regulatory Authority in Malawi. Meanwhile, AuKing has entered into an earn-in agreement with Tusker Minerals Limited, which provides an alternative route to acquire 100% of the Tundulu licence. This agreement allows AuKing to conduct exploration activities pending the final transfer approval. The earn-in agreement outlines a structured payment plan, including cash payments and the issuance of shares and performance shares to Tusker Minerals Limited, with specific milestones for each stage of acquisition.
Key Points
  • Tundulu Licence transfer process is ongoing with MMRA.
  • Earn-in agreement signed with Tusker Minerals Limited.
  • AuKing to acquire 100% of Tundulu exploration licence.
  • Earn-in payments structured in stages.
  • Shares and performance shares issued to TSK.
  • Exploration activities authorized pending final transfer.
  • Key earn-in milestones defined.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.