Auroch Minerals substantial holder MIMO Strategies increases stake to 8.81%

Auroch Minerals NL (ASX:AOU) (FRA:T59) substantial holder MIMO Strategies Pty Ltd has increased its stake in the company to 8.81% from 8.19%. Perth-based MIMO Strategies has made a series of on-market purchases this month and now holds more than 23.678 million shares. On February 18 an entity associated with MIMO purchased 1,022,246 million shares following purchases of 500,000 on February 16 and 1,229,260 on February 15. Project partner enters term sheet The company’s Nepean project partner Goldfellas Pty Ltd has entered a binding term sheet with the aim of Lodestar Minerals Limited (ASX:LSR) acquiring 100% of issued shares in Goldfellas. Goldfellas holds a 20% interest in the Nepean Nickel Project and Auroch, the operator, and holds the balance of 80%. The Nepean Nickel Project comprises 13 tenements 25 kilometres south of Coolgardie in Western Australia and contains the historic high-grade Nepean nickel sulphide mine, which was the second producing nickel mine in Australia.