Delin Mining Group to Invest $10.1M in Australian Gold and Copper Limited
Delin Mining Group Cooperation Limited is set to invest $10.1 million in Australian Gold and Copper Limited, enhancing its exploration efforts, particularly at the South Cobar Project. This investment includes the acquisition of 122.2 million shares at a premium price, making Delin a significant shareholder.
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Delin Mining Group Cooperation Limited will invest $10.1 million in Australian Gold and Copper Limited (AGC) through the purchase of 122,222,222 shares at $0.082636 each, pending shareholder approval. This funding will accelerate exploration at the South Cobar Project, especially targeting five drill-ready sites, and will support other NSW projects and operational costs.
Following this transaction, Delin is expected to hold a 55% stake in AGC and will appoint Mr. Zhang Yong as Co-Chairman. A general meeting for shareholder approvals is scheduled for around November 28, 2023. The strategic investment is anticipated to enhance AGC's capability to explore high-priority targets, including Hilltop, Achilles, and Planet.
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