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Kin Mining launches share purchase plan

Funds will be used to fast-track the Leonora Gold Project Definitive Feasibility Study.
Kin Mining launches share purchase plan
Kin will add to its cash balance

Kin Mining (ASX:KIN) has launched a share purchase plan where eligible shareholders have the opportunity to acquire a parcel of either: $1,000; $3,000; $5,000; $10,000 and $15,000 worth of shares.

The offer will include a 1:2 attaching option exercisable at $0.40 with a 2-year expiry date.

The offer opens on the 20th February, and is expected to close on the 20th March. New shares to be issued on the 31st March.

Funds will be used to fast-track the Leonora Gold Project Definitive Feasibility Study, secure opportunistic infrastructure acquisitions as they arise and provide additional working capital.

The Feasibility Study is on track for completion in the middle of this year with first gold production scheduled for mid-2018.

New chairman

In other Kin news, long-standing managing director, Trevor Dixon, has been appointed non-executive chairman, replacing Terry Grammer, who has resigned from the board.

Don Harper has been appointed managing director.

View full KIN profile View Profile

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