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AuKing Mining Ltd's  (ASX:AKN) managing director Paul Williams talked with Proactive after securing A$1.177 million via a strongly supported placement and locking in a new US$5 million loan facility with RiverFort Global Capital. The capital injection strengthens AuKing’s financial position as it progresses the acquisition of the Cloncurry Gold Project in Queensland.  

The raise included support from directors and professional investors, while the RiverFort facility provides further optionality through convertible funding.   

AuKing is also restructuring existing debt and exploring additional financing through Nebari to re-establish gold production at Cloncurry.  

The potential reactivation of the Cloncurry Gold Project could pave the way for near-term gold production in the region.

AuKing Mining strengthens financial footing and Cloncurry acquisition push