News Column

Aurora Minerals-Strategic Investment in Golden Rim Resources

May 7, 2014



ENP Newswire - 07 May 2014

Release date- 06052014 - Aurora Minerals Limited (ASX: ARM) is today pleased to announce that it has entered into an A$3 million secured convertible Loan Agreement with Golden Rim Resources Limited (ASX: GMR).

Subject to certain conditions (including the receipt of Golden Rim shareholder approval), Golden Rim may repay the loan by the issue of ordinary fully paid shares in Golden Rim (Shares), with conversion of the first tranche resulting in Aurora having an 19.96% shareholding in Golden Rim. Upon the issue of the first tranche of Shares, Aurora will become Golden Rim's largest shareholder and a cornerstone investor. Repayment of the second tranche of the loan may be made in either cash or Shares, at Aurora's election.

Highlights

Extensive business development search yields exciting investment opportunity

Aurora to invest $3M in Golden Rim via convertible loan agreement

Golden Rim established and experienced operator in West Africa; a rapidly developing gold province owns high-grade gold resource in Burkina Faso (Balogo) controls several prospective gold projects in Burkina Faso and other West African countries

Golden Rim is an ASX listed exploration and development company with a pipeline of gold projects covering over 5,000km2 in the highly prospective Birimian greenstone belts of Burkina Faso, Mali and Ivory Coast.

West Africa has been the centre of an emerging gold discovery boom in the last several decades centred on the highly fertile Birimian greenstone belts.

Within the Balogo Project the Netiana gold mineralization is a near-surface and high-grade


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Source: ENP Newswire