Oaking’s Malawi authorized advisor indicated that every one documentation regarding the proposed switch of the Tunduru Exploration License (EL 0731/24) to TREL has been accomplished and submitted to the Malawi MMRA in accordance with the Malawi Mines and Minerals Act 2023 and continues to be into consideration. We proceed to work intently with all related stakeholders, however the timing of approval is on the discretion of the MMRA.
Moreover, AuKing has entered right into a profit settlement with Tusker Minerals Restricted (ASX:TSK) (and its Malawi subsidiary Inexperienced Exploration Restricted) to offer AuKing with an alternate path to buying 100% of the Tunduru exploration license and contractual authorization to hold out exploration actions on the license pending ultimate switch approval from the MMRA. The earn-in cost displays AuKing’s completion obligations underneath the Gross sales Settlement detailed within the ASX Launch dated 17 April 2026 (and set out in Appendix A beneath). The income construction was launched to facilitate continued exploration exercise whereas the MMRA switch course of continues.
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