AuKing Mining Limited (ASX:AKN) entered into an agreement to acquire remaining 25% stake in Koongie Park Project from Anglo Australian Resources NL (ASX:AAR) for AUD 6 million on April 5, 2022. Under the agreement, AuKing Mining Limited shall pay AUD 3 million cash in May 2022, AUD 1.5 million payable following shareholder's approval on or before June 30, 2022 and AUD 1.5 million cash by October 31, 2022. AuKing Mining Limited aims to fund the purchase price from the proceeds of a combined proposed rights issue to existing shareholders and a strategic private placement to sophisticated investors, details of which will be made available shortly. Completion of the transaction is subject to satisfaction or waiver of conditions including AKN raising a minimum of AUD 7 million pursuant to a capital raising on or before May 16, 2022, and Anglo Australian Resources obtaining approval from the Minister for Lands to transfer the lease of the operational headquarters in Halls Creek to AKN. As of May 17, 2022, the transaction has been extended for satisfaction of the condition, successfully completing a minimum AUD 7 million capital raising, until Friday, May 27, 2022. As on December 13, 2022, Subject to shareholder approval at an extraordinary general meeting (EGM) this week, the proposed acquisition of Tanzanian uranium and copper interests is due for completion before 31 December 2022.

AuKing Mining Limited (ASX:AKN) cancelled the acquisition of remaining 25% stake in Koongie Park Project from Anglo Australian Resources NL (ASX:AAR) on December 14, 2023.