23 Dec 2015 15:46
Aurasian Minerals plc
AURASIAN MINERALS RECEIVES US $750,000 IN RELATION TO DISPOSAL OF WAMUM PROJECT
Dec 23 2015
Aurasian Minerals plc ("Aurasian" or the "Company") is pleased to confirm that funds have been received in relation to the sale of its stake in the Wamum Project located in Papua New Guinea.
The $750,000 will be used, subject to the successful completion of the proposed acquisition of Moroccan Minerals announced on 1 December 2015, to fund the Chadine Project in Serbia and will enable the company to focus on the initial phase of drilling which is expected in the first half of 2016.
Due diligence is progressing well on the purchase of Moroccan Minerals and paper work to Moroccan Minerals shareholders is expected to be posted prior to the New Year. Aurasian is hopeful to close the Moroccan Minerals transaction early in 2016.
Enquiries
Aurasian Minerals Plc
Peter Mullens (CEO Aurasian Minerals) pjm@aurasianminerals.com
+44 (0)1534 881 885
finnCap Limited - Nominated adviser
Christopher Raggett / Scott Mathieson +44 (0)20 7220 0500
ABOUT AURASIAN MINERALS
Aurasian Minerals PLC is an AIM listed junior exploration company exploring for copper and gold. Aurasian has an experienced board and technical team headed up by Chris Goss previously leader in project finance for emerging markets for the IFC, International Finance Corporation. The company is well funded in a difficult market with approximately GBP £ 1,100,000 in the bank. Currently Aurasian is focussed on closing the transaction to acquire the Chadine polymetallic project located in Serbia. (See press release dated Dec 1 2015, potential acquisition of Moroccan Minerals).
For further information please contact Peter Mullens CEO of Aurasian Minerals