Upon completion of the arrangement, African Aura will be renamed as ‘Afferro Mining Inc’ that will continue the iron ore projects including Putu in Liberia and Nkout in Cameroon.
The company said that Afferro Mining will retain the group’s remaining cash and cash equivalents.
Pursuant to the arrangement agreement, the new gold company will be named Aureus Mining that will acquire the African Aura gold project portfolio, its 22.1% stake in Stellar Diamonds and 40% of the group’s cash and cash equivalents.
