Auroch Minerals' nickel exploration funding underpinned by cornerstone investor group

Auroch Minerals Ltd (ASX:AOU) (FRA:T59) has announced another large tranche of option conversions, predominantly by a group of key cornerstone investors, to contribute around $1.3 million to the working capital of the company.

The cornerstone investors comprise long-term sophisticated investors with significant investment and minerals experience, many of whom were original investors in the company's IPO and are currently the top 20 shareholders.

A further 11.1 million have been exercised at $0.10 each and an additional 2 million options have been exercised at $0.12 each - well before their expiry date in 2023.*"Endorsement of the portfolio"*

This continued support via the conversion of these options well ahead of expiry further endorses the company's strategic portfolio of high-grade nickel sulphide projects in Western Australia, which includes Saints Nickel Project and Leinster Nickel Project and the recently acquired Nepean Nickel Project.

Auroch managing director Aidan Platel said: "We are very pleased by the strong show of support from such a core group of our shareholders, which is a great endorsement to the company itself and to its portfolio of high-grade, high-potential nickel sulphide assets in WA.

"This inflow of capital combined with our existing cash balance puts Auroch in a great position to carry out the aggressive exploration programs scheduled for 2021, as well as develop and build upon the high-grade resources at all three of our nickel sulphide projects as we move towards scoping studies and possible development."