Sign up Australia
Proactive Investors - Run By Investors For Investors

Kin Mining attracts funding from Sprott on pathway to gold production

Sprott's $35 million investment paves the way for production at Leonora Gold Project in 2018.
Australian bank notes
Cash flow from the Leonora Gold Project will assist in long-term exploration

Kin Mining NL (ASX:KIN) has received a vote of confidence from a leading resources investment enterprise following its $35 million financing which will effectively de-risk the Leonora Gold Project located in Western Australia.

A $35 million credit facility is being provided by Sprott Private Resource Lending, a division of Sprott Inc, an alternative asset manager and a global leader in precious metal and real asset investments.

The funding is as much an endorsement in Kin Mining’s management team led by Don Harper as it is in the project given that the asset was purchased in 2014 at the bottom of the gold cycle for $2.7 million.

Leonora forecast to be in production by second half 2018

Without a question mark now hanging over project funding there is a clear path to production and cash flow in 2018.

This development had an immediate positive share price impact with the company trading as high as $0.36 when the news broke around midday, up from the previous day’s close of $0.315.

There could be more catalysts to come though as the group plans to undertake a 100,000-metre exploration program in 2018.

View full KIN profile View Profile

Kin Mining NL Timeline

November 23 2017
November 21 2017
November 15 2017
November 15 2017
February 14 2017

Related Articles

November 14 2017
The group would clearly like to see higher uranium prices, but does have other revenue generating streams
Mawson Resources poised for more drilling after bonanza gold grades at Rompas East
October 19 2017
The group's key assets is the Rompas/Rajapalot project in Fiinish Lapland
March 17 2017
Mark Wilson discussed with investors exploration on one of Australia's host post codes, the Fraser Range of Western Australia, with partner Creasy Group.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use