Aruma completes copper and uranium acquisition
ASX-listed Aruma Resources has completed its acquisition of a portfolio of copper and exploration assets in South Australia and Queensland.
Aruma executed a share acquisition agreement to acquire the Wilan IOCG-uranium project in the Olympic Dam precinct in South Australia, and the Fiery Creek copper project and the Bortala copper project in the Mt Isa region of Queensland from NHM Holdings in May.
Completion of the acquisition was subject to Aruma shareholder approval, which was granted at a shareholder meeting on August 1. Aruma has settled the acquisition through the issue of 26.5-million fully paid ordinary shares to shareholders of NHMHA and 52.5-million options, as per the terms of the share acquisition agreement.
“With the acquisition now complete, we plan to commence targeted, systematic field work programmes across the new projects to define drill targets, with the aim of progressively drill testing priority targets to unlock each project’s full value proposition,” said MD Glenn Grayson.
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