Kalgoorlie Mining Company (ASX: KMC) flagship operations is the Bullant Gold Mine, which is located around 60 kilometres from the town of Kalgoorlie in Western Australia.
Kalgoorlie Mining Company (ASX: KMC) has added SHL Pty Ltd as trustee for the S H Lee Family Trust to its register as a substantial shareholder with a 44.27% interest.
SHL Pty Ltd ATF the S H Lee Family Trust is part of the investment syndicate that agreed to underwrite the company’s recent $A9.7 million three-for-one non-renounceable rights issue.
In late March Kalgoorlie Mining agreed to a proposal to recapitalise the company from the syndicate which was represented by Perth-based businessman Roger Kwok.
Kalgoorlie Mining allocated around A$5.05 million of the proceeds to be used to pay the company’s creditors in full.
Around $1.5 million has been allocated to the ongoing care and maintenance of the Bullant Project, $0.49 million to paying ongoing tenement administration and exploration costs, with the remaining $2.72 million to be applied towards corporate and compliance costs, general working capital and expenses of the issue.
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