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Aldoro secures internationally renowned geologist for Nardee Nickel-PGE Project
2 minute read
Today, Aldoro Resources Limited (ASX:ARN) announced that internationally renowned geologist Dr Minlu Fu has joined its team as technical advisor for the Narndee Nickel-PGE Project.
ARN entered into a consultancy agreement with Hong Kong Ausino Investment Limited, the entity controlled by Dr Minlu Fu, who has been heavily involved in a number of Nickel, Copper and Gold discoveries.
Dr Minlu Fu has an envious ASX track record given his successful technical involvement in the significant discoveries made by Los Ceros (ASX: LCL) and Tietto Minerals (ASX: TIE).
Under the agreement, Ausino and Dr Minlu Fu will provide equipment and services to ARN in relation to the Narndee Nickel-PGE project.
In encouraging news, costs in relation to work performed under the agreement will be settled via the issue of Aldoro shares at the 20-day VWAP post presentation of the invoice.
Dr Minlu Fu’s technical consulting fee is $5,000 plus GST per month.
Further to Ausino’s and Dr Minlu Fu’s technical involvement in the Narndee Nickel-PGE project, Dr Fu and associates have committed to invest $2 million into Aldoro at $0.20 per share, bolstering cash reserves to ~$4.2 million.
Upon completion of the Placement, Dr Fu will join the Pioneer Development Fund Limited and the Narndee Nickel-PGE project vendors as Aldoro’s largest shareholders.
“Dr Fu’s geological and geophysical expertise will be invaluable to Aldoro as we move towards our maiden Nickel-PGE drilling program this quarter”, commented Aldoro Chairman Josh Letcher.
“Furthermore, we welcome Dr Fu’s cornerstone investment into the Company as a significant show of faith into the Narndee Nickel-PGE Projects prospectivity and Aldoro’s methodical de-risking efforts prior to drilling the largest mafic-ultramafic complex in Australia.”
About Dr Minlu Fu
Dr Fu is a highly accomplished geologist who received his PhD from La Trobe University in 1989. From 1987 to 2000, Dr Fu worked for Western Mining Corporation in Australia and China as a research geologist, senior research geologist, and exploration manager.
He has significant maiden exploration success which includes the West Musgrave nickel deposit (Western Australia), the Tampakan copper gold deposit (Philippines), and the Ernest Henry copper-gold deposit (Queensland). Notably, Ernest Henry is one of Australia’s largest, long-life, low-cost copper-gold projects.
Further to Dr Fu’s technical involvement with Los Cerros (ASX: LCL) and Tietto Minerals (ASX: TIE) he has also been instrumental in the discovery of the Jinxi-Yelmand epithermal gold deposit, the Huangtupo VMS copper, zinc, gold and silver deposit, the Jinhe copper-gold deposit, the South copper-gold deposit and the Huangtan volcanogenic gold deposit, all of which are based in Xinjiang -PRC.