Proactiveinvestors Australia Kin Mining NL https://www.proactiveinvestors.com.au Proactiveinvestors Australia Kin Mining NL RSS feed en Sun, 20 Jan 2019 18:19:55 +1100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Kin Mining director adds to shareholding, brings total to more than 800,000 shares ]]> https://www.proactiveinvestors.com.au/companies/news/211794/kin-mining-director-adds-to-shareholding-brings-total-to-more-than-800000-shares-211794.html Kin Mining NL (ASX:KIN) non-executive director Brian Dawes has increased his stake in the gold-focused company through an indirect on-market purchase of 300,000 ordinary shares.

The transaction was made at a price of 8.11 cents a share for a total value of $24,330, increasing Dawes’ total shareholding to 805,655 shares.

 

Kin is developing the Leonora Gold Project about 750 kilometres northeast of Perth, where it has intersected substantial and broad gold mineralisation in first-phase diamond drilling.

Highlighted results from the Lewis prospect were: 19.9 metres at 1.84 g/t gold from 17.4 metres; 32.4 metres at 1.16 g/t from 39.6 metres; and 37.2 metres at 1.04 g/t from 51.4 metres.

All drill holes intersected significant gold intervals associated with sulphide mineralisation in a variety of geological styles.

While providing further geological insights, the results demonstrate a pathway for an upgraded mineral resource estimate at Lewis, as well as a simplified Lewis pit and incorporation into the Cardinia process plant design.

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Mon, 31 Dec 2018 00:57:00 +1100 https://www.proactiveinvestors.com.au/companies/news/211794/kin-mining-director-adds-to-shareholding-brings-total-to-more-than-800000-shares-211794.html
<![CDATA[News - Kin Mining repays credit facility with Sprott as it advances the Leonora Gold Project ]]> https://www.proactiveinvestors.com.au/companies/news/211704/kin-mining-repays-credit-facility-with-sprott-as-it-advances-the-leonora-gold-project-211704.html Kin Mining NL (ASX:KIN) has repaid all but US$1 of the senior secured credit facility with Sprott as it moves towards a development decision at the Leonora Gold Project (LGP) in Western Australia.

Background

The credit facility was formalised on December 23, 2017 with the first drawdown of US$5 million occurring on December 27, 2017.

Kin repaid US$2 million in August 2018 and a further US$1.3 million in November 2018.

The final repayment of US$1.7 million (minus US$1) has now been made.

READ: Kin Mining shores up potential of Leonora Gold Project with broad gold intersections at Lewis prospect

Repaying the facility in tranches has allowed Kin to utilise its cash in the most effective manner to progress its work programs at the LGP.

This includes drilling and metallurgical work programs at the Helens and Lewis Deposits, water exploration and production bore drilling programs at Bummer Creek/Cardinia Creek and advancing the project approvals required to restart the construction phase of the LGP.

 

Sprott has expressed a desire to remain involved in the LGP and has agreed to leave the credit facility structure in place while Kin completes its LGP work programs.

Progress on those programs is ongoing with management confident of satisfactory resolutions to the items being investigated or reviewed.

Importantly, following this payment, all credit facility covenants and the majority of secured positions have been removed.

The general security and covenants will be reinstated in the event that Kin seeks to recommence drawdowns on the credit facility (subject to further due diligence by Sprott).

The royalty of 1.5% on the first 100,000 ounces of gold produced from the LGP remains in place and is secured by mortgages over a reduced set of tenements.

READ: Kin Mining resumes drilling at Lewis Prospect

Kin managing director Andrew Munckton said: “Finalising the repayment of the credit facility removes the interest costs associated with servicing the debt from Kin.

“The security and mortgage over LGP tenure associated with the facility has been reduced to reflect the reduced obligations of Kin to Sprott.

“We are pleased with the outcome of our discussions and negotiations with Sprott and look forward to further discussions with them as the revised scope of the LGP project development becomes more certain during 2019.”

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Mon, 24 Dec 2018 15:35:00 +1100 https://www.proactiveinvestors.com.au/companies/news/211704/kin-mining-repays-credit-facility-with-sprott-as-it-advances-the-leonora-gold-project-211704.html
<![CDATA[Media files - Kin Mining's exploration program 'back in full swing' following 'strong' results ]]> https://www.proactiveinvestors.com.au/companies/stocktube/11622/kin-mining-s-exploration-program--back-in-full-swing--following--strong--results-11622.html Fri, 14 Dec 2018 11:21:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/11622/kin-mining-s-exploration-program--back-in-full-swing--following--strong--results-11622.html <![CDATA[News - Kin Mining resumes drilling at Lewis Prospect ]]> https://www.proactiveinvestors.com.au/companies/news/211095/kin-mining-resumes-drilling-at-lewis-prospect-211095.html Kin Mining NL (ASX:KIN) has resumed drilling at the Lewis Prospect within the Leonora Gold Project (LGP) in Western Australia.

The phase II diamond drilling program aims to further define recently identified broader zones of gold mineralisation over a strike of 1,200 metres.

This includes low grade epithermal gold mineralisation and deeper, higher grade volcanogenic massive sulphide (VMS) style mineralisation.

Results received earlier this week demonstrate a pathway for an upgraded JORC resource estimate for the Lewis Prospect.

READ: Kin Mining shores up potential of Leonora Gold Project with broad gold intersections at Lewis prospect

Kin’s managing director Andrew Munckton said: “It’s pleasing to be back on the ground at the LGP undertaking the follow-up work from the successful Lewis phase I diamond drilling.

“Phase II is aimed at confirming the new interpretation of a epithermal and gold-rich VMS setting for the Lewis mineralisation and extending into fresh rock the gold mineralisation over a strike length of approximately 1,200 metres.” 

By growing the resource base within the LGP, Kin is lowering the project's development risk by increasing project economics.

Metallurgical test work is also underway

Metallurgical test work is underway for the seven diamond holes completed in the phase I program to determine the amenability of the gold and other metal mineralisation to standard CIL treatment.

Further test work is also planned to assess the preferred treatment approach to the sulphide-rich other metal mineralisation.

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Thu, 13 Dec 2018 09:43:00 +1100 https://www.proactiveinvestors.com.au/companies/news/211095/kin-mining-resumes-drilling-at-lewis-prospect-211095.html
<![CDATA[News - Kin Mining shores up potential of Leonora Gold Project with broad gold intersections at Lewis prospect ]]> https://www.proactiveinvestors.com.au/companies/news/210826/kin-mining-shores-up-potential-of-leonora-gold-project-with-broad-gold-intersections-at-lewis-prospect-210826.html Kin Mining NL (ASX:KIN) has intersected substantial and broad gold mineralisation in phase-one diamond drilling at the Lewis prospect within its Wider Leonora Gold Project.

Diamond core from the seven-hole program was submitted for gold and multi-element analysis after indicating both epithermal gold and gold-rich volcanogenic massive sulphide (VMS) mineralisation.

All holes intersected significant gold intervals associated with sulphide mineralisation in a variety of geological styles.

While providing further geological insights, the results demonstrate a pathway for an upgraded mineral resource estimate at Lewis, as well as a simplified Lewis pit and incorporation into the Cardinia process plant design.

READ: Kin Mining secures $8 million through binding commitments

Highlighted results from within potassic altered basalt within the epithermal system include: 19.9 metres at 1.84 g/t gold from 17.4 metres; 32.4 metres at 1.16 g/t from 39.6 metres; 37.2 metres at 1.04 g/t from 51.4 metres.

Evidence of VMS mineralisation in this system with gold-rich massive and banded sulphides in felsic volcaniclastic sediments was also encountered.

Intersections from within the sediments include: 4.8 metres at 17.6 g/t from 48.6 metres; 0.5 metres at 127.8 g/t gold, 115 g/t silver, more than 10% sulphur and 76 g/t tellurium; and 0.7 metres at 6.6 g/t gold, 36.5 g/t silver, 8% sulphur and 7 g/t tellurian from 96 metres.

READ: Kin Mining’s engineering and metallurgy analysis for Leonora Gold Project indicates no fatal flaws

The diamond drilling aimed to replicate previous reverse circulation (RC) intersections and confirm the style of mineralisation encountered at Lewis in fresh rock.

Previous RC drilling had encountered gold over broad intersections greater than 30 metres with generally lower grade mineralisation of 0.5 to 1.5 g/t and occasionally bonanza assays greater than 30 g/t over 1 metre associated with extensive mafic-felsic rock contact.

Several styles of mineralisation were encountered in the recent program, usually associated with varying amounts of sulphide with attendant precious and base metals anomalism.

Distinctive textures and alteration indicate a near-surface mineralising environment consistent with sub-marine VMS and/or epithermal gold-mineralising environments.

READ: Kin Mining attracts new substantial shareholder with a 9.31% interest

Lewis was previously interpreted to be supergene gold in the oxide and transition zones above a poorly-defined primary source of mineralisation.

Previous drilling was almost exclusively reverse circulation and aircore with limited drilling into the underlying fresh rock zone below 60 metres depth.

Detailed logging of Lewis’ core has identified mineralisation styles commonly associated with VMS deposits, low sulphidation epithermal gold deposits and, as Alto had expected, greenstone-hosted orogenic gold deposits.

READ: Kin Mining is derisking and optimising its +1 million-ounce Leonora Gold Project

Multi-element assays from the remainder of the drill cores are being processed and are expected to be delivered over the next several weeks.

Follow-up diamond drilling is scheduled to begin in the week starting December 10, focusing on further definition of the various mineralisation styles at Lewis.

The drilling will also extend mineralisation down-dip within the Lewis pit design, the broader zones of low-grade epithermal mineralisation and within the deeper, higher-grade VMS-style mineralisation.

An additional six diamond holes are planned with potential for a further five should Kin encounter notable mineralised zones.

Metallurgical work is underway for the initial seven holes to determine the amenability of the gold and other metal mineralisation standard carbon-in-leach treatment.

Further test work is also planned to assess the preferred treatment approach to the sulphide-rich other metal mineralisation.

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Sun, 09 Dec 2018 21:02:00 +1100 https://www.proactiveinvestors.com.au/companies/news/210826/kin-mining-shores-up-potential-of-leonora-gold-project-with-broad-gold-intersections-at-lewis-prospect-210826.html
<![CDATA[News - Kin Mining attracts new substantial shareholder with a 9.31% interest ]]> https://www.proactiveinvestors.com.au/companies/news/210629/kin-mining-attracts-new-substantial-shareholder-with-a-931-interest-210629.html Kin Mining NL (ASX:KIN) has a new substantial shareholder in Mostia Dion Nominees Pty Ltd which has accumulated a 9.31% interest through a series of share purchases and participation in the company’s rights issue.

The Melbourne-based investor now holds almost 41 million shares with 25 million of these acquired in the 2 for 5 rights issue and subsequent shortfall underwriting.

Series of acquisitions

Mostia Dion made a series of acquisitions between July 23 and September 7 this year with a total value of around $959,000.

Almost 6.383 million shares were purchased on November 21 valued at more than $51,000.

On December 5 more than 18.617 million shares were purchased in the shortfall underwriting with a value in excess of $1.489 million.

READ: Kin Mining’s German-based substantial shareholder lifts stake to 8.52%

Existing German substantial shareholder Delphi Unternehmensberatung Aktiengesellschaft (AG) also participated in the shortfall underwriting, increasing its interest to 12.27% from 8.52%.

The Heidelberg-based investor added more than 22.159 million shares at 8 cents per share and now holds almost 54 million shares.

READ: PNX Metals’ German substantial shareholder Delphi increases stake to 18.09%

This is one of a series of investments into the Australian mining sector by Delphi, which has this week also lifted its holding in PNX Metals Ltd (ASX:PNX) to 18.09%.

This came about through the acquisition of 15.79 million shares for total consideration of $126,336.

READ: Kin Mining substantial shareholder continues share purchases, now holds 12.4%

Another Kin substantial shareholder, Harmanis Holdings Pty Ltd, also participated in the rights issue and underwriting and has lifted its stake to 12.4% from 8.73%.

Funds raised by Kin in the rights issue, which could amount to approximately $10.4 million before costs, will be used to advance the Leonora Gold Project in WA.

This amount would be reached if company directors decide to place the remaining shortfall of 14.74 million shares within three months of the closing date of the rights issue.

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Thu, 06 Dec 2018 16:53:00 +1100 https://www.proactiveinvestors.com.au/companies/news/210629/kin-mining-attracts-new-substantial-shareholder-with-a-931-interest-210629.html
<![CDATA[News - Kin Mining substantial shareholder continues share purchases, now holds 12.4% ]]> https://www.proactiveinvestors.com.au/companies/news/210615/kin-mining-substantial-shareholder-continues-share-purchases-now-holds-124-210615.html Kin Mining NL (ASX:KIN) substantial shareholder Harmanis Holdings Pty Ltd has further boosted its interest in the gold pre-developer to 12.4% from 8.73%.

Harmanis has acquired shares with a total value of more than $1.763 million and now holds more than 54.682 million shares.

Participation in rights issue

The WA-based investor purchased more than 25,000 shares on October 25 valued at $1,900 and a further 50,000 on November 14 valued at $3,750.

Its primary purchase came on December 3 with almost 22 million shares valued at more than $1.758 million.

READ: Kin Mining substantial shareholder Harmanis Holdings boosts interest to 8.73%

Harmanis has participated in Kin’s rights entitlement and subsequent shortfall underwriting, which once completed will result in funds of approximately $10.4 million before costs.

Acceptances were received for $3.909 million worth of shares in the 2-for-5 non-renounceable rights issue offer.

READ: Kin Mining completes $5.3 partially underwritten shortfall component of rights issue

Kin this week completed the $5.3 million partially underwritten shortfall component of the offer, which

leaves a further shortfall of more than 14.74 million shares.

The company’s directors reserve the right to place the remaining shortfall within three months after the closing date of the issue.

READ: Kin Mining substantial shareholder lifts stake with purchases valued at $1 million

Funds will be used to accelerate resource growth at the flagship Leonora Gold Project in Western Australia as well as refining the development pathway and full repayment of the Sprott Facility.

Leonora is about 750 kilometres northeast of Perth in the highly prospective north-eastern Goldfields region.

The project has a mineral resource of more than 1 million ounces, defined in both supergene and deeper primary mineralisation, with considerable potential to be increased with further drilling.

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Thu, 06 Dec 2018 09:22:00 +1100 https://www.proactiveinvestors.com.au/companies/news/210615/kin-mining-substantial-shareholder-continues-share-purchases-now-holds-124-210615.html
<![CDATA[News - Kin Mining substantial shareholder lifts stake with purchases valued at $1 million ]]> https://www.proactiveinvestors.com.au/companies/news/210526/kin-mining-substantial-shareholder-lifts-stake-with-purchases-valued-at-1-million-210526.html Kin Mining NL (ASX:KIN) substantial shareholder Michele Canci has increased his interest to 7.94% from 6.9% with recent share acquisitions valued at $1 million.

The Western Australian investor participated in Kin’s rights entitlement and subsequent shortfall underwriting and now holds more than 34.9 million shares.

Two entities associated with Canci made the purchases.

Rights offer participation

On November 21 these entities purchased more than 8.963 million shares in the rights entitlement offer for total consideration in excess of $717,000.

On December 4 more than 3.536 million shares were purchased in the shortfall underwriting with a value of almost $283,000.

READ: Kin Mining completes $5.3 partially underwritten shortfall component of rights issue

Acceptances were received for $3.909 million worth of shares in the 2-for-5 non-renounceable rights issue offer.

Kin this week completed the $5.3 million partially underwritten shortfall component of the offer.

This leaves a further shortfall of more than 14.74 million shares for which Kin’s directors reserve the right to place within three months after the closing date of the issue.

Once completed, total funds from the rights issue will be approximately $10.4 million before costs.

READ: Kin Mining is derisking and optimising its +1M ounce Leonora Gold Project

Funds from the offer will be used to accelerate resource growth at the Leonora Gold Project in Western Australia, refinement of the development pathway and full repayment of the Sprott Facility.

The company remains focused on advancing the Leonora project to a lower-risk, higher-quality development decision in the second half of 2019.

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Wed, 05 Dec 2018 08:52:00 +1100 https://www.proactiveinvestors.com.au/companies/news/210526/kin-mining-substantial-shareholder-lifts-stake-with-purchases-valued-at-1-million-210526.html
<![CDATA[News - Kin Mining completes $5.3 partially underwritten shortfall component of rights issue ]]> https://www.proactiveinvestors.com.au/companies/news/210439/kin-mining-completes-53-partially-underwritten-shortfall-component-of-rights-issue-210439.html Kin Mining NL (ASX:KIN) has completed the $5.3 million partially underwritten shortfall component of the 2-for-5 non-renounceable rights issue which closed in mid-November, 2018.

Accordingly, the company has issued more than 66.28 million new shares to raise more than $5.303 million.

This leaves a further shortfall of more than 14.74 million shares for which Kin’s directors reserve the right to place within three months after the closing date of the issue.

READ: Kin Mining closes part-underwritten rights issue to fund Leonora Gold Project

The requirements of the Corporations Act and ASX Listing Rules also provide for this to be at a price not less than the offer price.

Upon completion of the allotment of the remaining shortfall, total funds raised from the rights issue will be approximately $10.4 million before costs.

READ: Kin Mining board and management stand with shareholders and buy shares

There were acceptances received for $3.909 million worth of shares in the offer.

Funding from the offer will be used to accelerate resource growth at the Leonora Gold Project (LGP) in WA, refinement of the LGP development pathway and full repayment of the Sprott Facility.

The junior gold developer remains focused on advancing the Leonora project to a lower-risk, higher-quality development decision in the second half of 2019.

READ: Kin Mining's engineering and metallurgy analysis for Leonora Gold Project indicates no fatal flaws

Last month Kin released the fatal flaw analysis engineering and metallurgy reports produced by Como Engineers for the LGP.

These reports confirmed no fatal flaws with aspects of Leonora’s proposed operation and identified several opportunities to capture additional value and reduce risk.

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Tue, 04 Dec 2018 15:13:00 +1100 https://www.proactiveinvestors.com.au/companies/news/210439/kin-mining-completes-53-partially-underwritten-shortfall-component-of-rights-issue-210439.html
<![CDATA[News - Kin Mining substantial shareholder Harmanis Holdings boosts interest to 8.73% ]]> https://www.proactiveinvestors.com.au/companies/news/209982/kin-mining-substantial-shareholder-harmanis-holdings-boosts-interest-to-873-209982.html Kin Mining NL (ASX:KIN) substantial shareholder Harmanis Holdings P/L has increased its stake in the company to 8.73% from 7.14%.

This follows a series of recent purchases and participation in the company’s entitlement offer.

Harmanis acquired 150,000 shares valued at $11,850 on October 23 and another 25,000 shares valued at $1,900 the following day.

Participation in entitlement offer

On November 21, as part of the entitlement offer, Harmanis acquired more than 9.272 million shares valued at more than $741,800.

The Perth-based investor now holds more than 32.63 million shares.

READ: Kin Mining’s German-based substantial shareholder lifts stake to 8.52%

German-based substantial shareholder Delphi Unternehmensberatung Aktiengesellschaft (AG) also increased its substantial holding.

Delphi increased its stake in Kin to 8.52% by purchasing almost 9.01 million shares in the entitlement offer at 8 cents per share and now holds more than 31.818 million shares.

READ: Kin Mining closes part-underwritten rights issue to fund Leonora Gold Project

Kin’s most recent 2-for-5 non-renounceable rights issue closed this month with acceptances received for $3.909 million worth of shares.

The shortfall of 81.03 million shares was partially underwritten to the value of $5.3 million or 66.28 million shares.

Upon completion of the rights issue, underwriting and placement for shortfall, the total funds raised will be $10.4 million before costs.

READ: Kin Mining board and management stand with shareholders and buy shares

Funds will be used to accelerate resource growth at the Leonora Gold Project (LGP), refinement of the development pathway and full repayment of the Sprott Facility.

The junior gold developer remains focused on advancing the LGP to a lower-risk, higher-quality development decision in the second half of 2019.

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Tue, 27 Nov 2018 13:25:00 +1100 https://www.proactiveinvestors.com.au/companies/news/209982/kin-mining-substantial-shareholder-harmanis-holdings-boosts-interest-to-873-209982.html
<![CDATA[News - Kin Mining’s German-based substantial shareholder lifts stake to 8.52% ]]> https://www.proactiveinvestors.com.au/companies/news/209882/kin-minings-german-based-substantial-shareholder-lifts-stake-to-852-209882.html Kin Mining NL (ASX:KIN) has received a further show of confidence from a German-based substantial shareholder which has increased its holding to 8.52% from 7.19% by participating in an entitlement offer.

Delphi Unternehmensberatung Aktiengesellschaft (AG), of Heidelberg, purchased almost 9.01 million shares in the offer at 8 cents per share and now holds more than 31.818 million shares.

READ: Kin Mining’s gold strategy attracts German substantial shareholder

It is the second time this year that the company, whose major shareholder is prominent German executive Wilhelm Zours, has participated in a Kin capital raising exercise.

Previously Delphi purchased more than 22.7 million shares at 11 cents each for total consideration of $2.5 million.

READ: Kin Mining closes part-underwritten rights issue to fund Leonora Gold Project

Kin’s most recent 2-for-5 non-renounceable rights issue closed this month with acceptances received for $3.909 million worth of shares.

The shortfall of 81.03 million shares was partially underwritten to the value of $5.3 million or 66.28 million shares.

Upon completion of the rights issue, underwriting and placement for shortfall, the total funds raised will be $10.4 million before costs.

READ: Kin Mining board and management stand with shareholders and buy shares

Funds will be used to accelerate resource growth at the Leonora Gold Project (LGP), refinement of the development pathway and full repayment of the Sprott Facility.

The junior gold developer remains focused on advancing the LGP to a lower-risk, higher-quality development decision in the second half of 2019.

Investing in resources

As well as being Delphi’s major shareholder, Zours is also chairman of investment company Deutsche Balaton AG, a role he has held since June 25, 2004.

The prominent German executive is active on the supervisory board of Beta Systems Software AG, Sparta AG and Strawtec Group AG and is a board member at VV Beteiligungen AG.

Zours, through Delphi, Deutsche Balaton and VV Beteiligungen, has this year been active in a number of Australian resources investments.

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Mon, 26 Nov 2018 17:06:00 +1100 https://www.proactiveinvestors.com.au/companies/news/209882/kin-minings-german-based-substantial-shareholder-lifts-stake-to-852-209882.html
<![CDATA[News - Kin Mining board and management stand with shareholders and buy shares ]]> https://www.proactiveinvestors.com.au/companies/news/209711/kin-mining-board-and-management-stand-with-shareholders-and-buy-shares-209711.html Kin Mining NL (ASX:KIN) board and management continue to align themselves with shareholders by purchasing shares in the company.

A group that consisted of managing director Andrew Munckton, chairman Jeremy Kirkwood and directors Brian Dawes and Trevor Dixon have acquired 2.29 million shares collectively.

All four acquired shares through participation in the recent rights issue offering shares at 8 cents and chairman Jeremy also purchased 1.4 million shares on market at an average price of 8.35 cents.

READ: Kin Mining closes part-underwritten rights issue to fund Leonora Gold Project

Kin closed the 2-for-5 non-renounceable rights issue on schedule last week receiving acceptances for $3.909 million worth of shares.

Notably, the shortfall is partially underwritten to the value of $5.3 million or 66.28 million shares.

This means that upon completion of the rights issue, underwriting and placement for shortfall, the total funds raised will be $10.4 million before costs.

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Thu, 22 Nov 2018 09:09:00 +1100 https://www.proactiveinvestors.com.au/companies/news/209711/kin-mining-board-and-management-stand-with-shareholders-and-buy-shares-209711.html
<![CDATA[News - Kin Mining closes part-underwritten rights issue to fund Leonora Gold Project ]]> https://www.proactiveinvestors.com.au/companies/news/209506/kin-mining-closes-part-underwritten-rights-issue-to-fund-leonora-gold-project-209506.html Kin Mining NL (ASX:KIN) closed its 2-for-5 non-renounceable rights issue on schedule last week receiving acceptances for $3.909 million worth of shares.

These shares will be issued tomorrow 21 November leaving a shortfall of 81.03 million shares.

The shortfall is partially underwritten to the value of $5.3 million or 66.28 million shares.

Upon completion of the rights issue, underwriting and placement for shortfall, the total funds raised will be $10.4 million before costs.

READ: Kin Mining's engineering and metallurgy analysis for Leonora Gold Project indicates no fatal flaws

Funding is to be used to accelerate resource growth at the Leonora Gold Project (LGP), refinement of the LGP development pathway and full repayment of the Sprott Facility.

Earlier this month, Kin released the fatal flaw analysis engineering and metallurgy reports produced by Como Engineers for the LGP.

These reports confirmed no fatal flaws with aspects of Leonora’s proposed operation and identified several opportunities to capture additional value and reduce risk.

READ: Kin Mining is derisking and optimising its +1M ounce Leonora Gold Project

The junior gold developer remains focused on advancing the Leonora project to a lower-risk, higher-quality development decision in the second half of 2019.

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Tue, 20 Nov 2018 08:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/209506/kin-mining-closes-part-underwritten-rights-issue-to-fund-leonora-gold-project-209506.html
<![CDATA[News - Kin Mining secures $8 million through binding commitments ]]> https://www.proactiveinvestors.com.au/companies/news/209141/kin-mining-secures-8-million-through-binding-commitments-209141.html Kin Mining NL (ASX:KIN) has received binding commitments from shareholders to subscribe for and underwrite $8.0 million of the current 2-for-5 rights issue underway.

The non-renounceable rights issue can raise gross proceeds of $10.4 million and these recent commitments mean that $8 million has been secured.

READ: Kin Mining is derisking and optimising its +1M ounce Leonora Gold Project

Funding is to be used to accelerate resource growth at the Leonora Gold Project (LGP), refinement of the LGP development pathway and full repayment of the Sprott Facility.

Last week, Kin released the fatal flaw analysis engineering and metallurgy reports produced by Como Engineers for the LGP.

READ: Kin Mining's engineering and metallurgy analysis for Leonora Gold Project indicates no fatal flaws

These reports confirmed no fatal flaws with aspects of Leonora’s proposed operation and identified several opportunities to capture additional value and reduce risk.

The junior gold developer remains focused on advancing the Leonora project to a lower-risk, higher-quality development decision in the second half of 2019.

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Wed, 14 Nov 2018 12:57:00 +1100 https://www.proactiveinvestors.com.au/companies/news/209141/kin-mining-secures-8-million-through-binding-commitments-209141.html
<![CDATA[News - Kin Mining's engineering and metallurgy analysis for Leonora Gold Project indicates no fatal flaws ]]> https://www.proactiveinvestors.com.au/companies/news/208687/kin-mining-s-engineering-and-metallurgy-analysis-for-leonora-gold-project-indicates-no-fatal-flaws-208687.html Kin Mining NL (ASX:KIN) has released the fatal flaw analysis engineering and metallurgy reports produced by Como Engineers for its Leonora Gold Project in Western Australia.

These reports confirmed no fatal flaws with aspects of Leonora’s proposed operation and identified several opportunities to capture additional value and reduce risk.

The junior gold developer remains focused on advancing the Leonora project to a lower-risk, higher-quality development decision in the second half of 2019.

READ: Kin Mining is derisking and optimising its +1M ounce Leonora Gold Project

Como's reports were commissioned by Kin in early April after completing the first two months of construction at Leonora, which had resulted in budget overruns.

The reports have a clearly defined scope and do not cover all components of the project that were included in the initial Leonora definitive feasibility study pre-production capital cost estimate of $35.4 million.

Como looked at Kin’s equipment list, plant layout, capital cost estimate and schedules and made several recommendations to address identified areas of concern.

Eleven areas of concern were outlined in the engineering report and a further six in the metallurgy report.

READ: Kin Mining identifies new targets for drilling at Leonora Gold Project

The engineering report was limited to analysis of the Lawlers plant dismantling and construction of the Cardinia processing plant.

The metallurgy report incorporated a general metallurgical review and reviews of design criteria, mass balance and flowsheets.

Importantly, based on the findings of the reports and its own review, Kin’s board does not have sufficient confidence in the accuracy of the project’s pre-production capital cost estimate to continue with the Cardinia plant construction.

This view is based on Como’s preliminary indications that the costs provided by Kin are underestimated by 10-20% and “a more detailed investigation into project cost estimate would need to be undertaken to formulate an accurate control budget for the project”.

READ: Kin Mining outlines $10.4 million rights issue for Leonora Gold Project

Kin’s Leonora project is in the highly prospective north-eastern Goldfields region of WA.

The project has a mineral resource of more than 1 million ounces, defined in both supergene and deeper primary mineralisation, with considerable potential to be increased with further drilling.

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Tue, 06 Nov 2018 21:37:00 +1100 https://www.proactiveinvestors.com.au/companies/news/208687/kin-mining-s-engineering-and-metallurgy-analysis-for-leonora-gold-project-indicates-no-fatal-flaws-208687.html
<![CDATA[News - Kin Mining shares halt after shareholder contacts fellow investors ]]> https://www.proactiveinvestors.com.au/companies/news/208460/kin-mining-shares-halt-after-shareholder-contacts-fellow-investors-208460.html Kin Mining NL (ASX:KIN) has entered into a trading halt as it addresses a communication from one of its shareholders to other investors in the company.

The Australian Securities Exchange put the Western Australian company into a voluntary trading halt this morning at 11.24 market time.

READ: Kin Mining is derisking and optimising its +1M ounce Leonora Gold Project

Kin company secretary Stephen Jones wrote to ASX Ltd (ASX:ASX), saying: “Kin Mining NL requests the granting of a trading halt in KIN’s ordinary securities listed on the ASX pending the release of an announcement clarifying certain communications from a shareholder to other shareholders.”

Jones said in the letter disclosed to market that the halt would apply until the announcement was released or upon opening of trading on Wednesday, October 7, 2018.

READ: Kin Mining identifies new targets for drilling at Leonora Gold Project

The company identified new drilling targets for its Leonora project in the Leonora-Laverton region last month after launching a $10.4 million rights issue.

Kin is undertaking project-wide targeting efforts as it also explores and drills at the project’s main mining centres – Cardinia, Mertondale and Raeside – and conducts ongoing development studies as it moves towards making a development decision flagged for next year.

READ: Kin Mining outlines $10.4 million rights issue for Leonora Gold Project

Kin’s 2:5 rights issue was priced at 8 cents a share to raise up to $10.4 million.

The company’s securities last traded at 8.2 cents.

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Sun, 04 Nov 2018 20:58:00 +1100 https://www.proactiveinvestors.com.au/companies/news/208460/kin-mining-shares-halt-after-shareholder-contacts-fellow-investors-208460.html
<![CDATA[News - Kin Mining is derisking and optimising its +1M ounce Leonora Gold Project ]]> https://www.proactiveinvestors.com.au/companies/news/207985/kin-mining-is-derisking-and-optimising-its-1m-ounce-leonora-gold-project-207985.html Kin Mining NL (ASX:KIN) continues to advance its 100%-owned Leonora Gold Project (LGP) located 30 kilometres northeast of Leonora in the Eastern Goldfields of Western Australia.

The LGP contains 1.05 million ounces at an average grade of 1.46 g/t gold spread across three mining centres — Mertondale, Cardinia and Raeside.

Each mining centre hosts multiple gold deposits, many which show good potential for resource growth.

Kin’s chairman Jeremy Kirkwood said: “Our strategy is focussed on adding value to the LGP by testing the depth extensions of known deposits, upgrading and expanding mineral resources, simplifying and de-risking ore, water and power supply, and completing a robust cost estimate and schedule for development.”

READ: Kin Mining adds 33,900 ounces from Helens to gold bounty at Leonora

In September 2018, Kin added 33,900 ounces to the indicated and inferred resource at Helens deposit within the Cardinia Mining Centre.

The updated estimate of 70,900 ounces includes a 29% increase in tonnage, a 49% increase in grade and a 92% increase in ounces.

It supports a larger open pit development at Helens, which is 2 kilometres from the Cardinia processing plant site.

Kin's mining centres near Leonora in Western Australia

Kirkwood added: “Drilling in the second half of financial year 2018 has identified new zones of mineralisation linking the Helens Main and Helens South zones.

“Significantly, the deepest drill hole in the region returned a very encouraging 15.8 metres at 3.77 g/t gold from 266 metres, underscoring the depth potential at Helens and the wider tenement package which has been subjected to very limited drilling below 100 metres.”

Repositioning the LGP for a lower risk development decision in 2019

The chairman said: “This strategy of exploration, de-risking and project optimisation at the LGP will continue into FY19.”

Kin’s chief executive officer Andrew Munckton added: “Work during the September quarter proved our belief in the ability to extend known resources at the LGP at depth as we continue to de‐risk key aspects of the project such as water supply and mine planning.”

Regional exploration also underway

A project‐wide targeting program has been undertaken in parallel with exploration and drilling at the main mining centres of the LGP.

Kin has completed a comprehensive, detailed mapping and target-generation work program over the core of the LGP tenure.

It has identified a number of new targets in covered terrain and reinterpreted historical high-grade mining areas with modern “mineralised system” thinking.

READ: Kin Mining identifies new targets for drilling at Leonora Gold Project

In early-mid October, Kin revealed that it had identified new targets with no history of previous exploration through geological mapping at the LGP.

Munckton added: “Developing our understanding of the wider exploration potential of the LGP is an important pillar to generate more value for shareholders.

“The work completed to date has successfully identified prospective new areas which will be progressed towards drilling in 2019 as we remain focused on our key objectives of expanding resources and delivering the LGP to a lower risk development decision point.”

READ: Kin Mining outlines $10.4 million rights issue for Leonora Gold Project

A 2:5 rights issue priced at 8 cents to raise up to $10.4 million opened on October 22, 2018 to progress the LGP.

The funds raised will also be used for accelerated exploration of new targets, with the potential to deliver further significant resource growth at the LGP and repay the outstanding US$3 million Sprott facility.

These activities represent a pathway over the next 9 to 12 months to a fuller understanding of the overall gold endowment potential and optimised development scope of the LGP.

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Mon, 29 Oct 2018 14:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/207985/kin-mining-is-derisking-and-optimising-its-1m-ounce-leonora-gold-project-207985.html
<![CDATA[News - Kin Mining identifies new targets for drilling at Leonora Gold Project ]]> https://www.proactiveinvestors.com.au/companies/news/206840/kin-mining-identifies-new-targets-for-drilling-at-leonora-gold-project-206840.html Kin Mining NL (ASX:KIN) has identified new targets with no history of previous exploration through geological mapping at its Leonora Gold Project (LGP) in Western Australia.

A project-wide targeting program is being undertaken in parallel with exploration and drilling at the main mining centres of the LGP – Cardinia, Mertondale and Raeside – along with the ongoing development studies to deliver the LGP to a lower risk development decision in 2019.

Historical high-grade mining areas

Gold exploration within the project area has been sporadically undertaken for more than 30 years, although activity outside the known orebodies has been limited, particularly in the past 20 years.

Kin has completed a comprehensive, detailed mapping and target generation work program over the core of the LGP tenure.

It has identified a number of new targets in covered terrain and reinterpreted historical high-grade mining areas with modern mineralised system thinking.

Moving towards a development decision

Kin managing director Andrew Munckton said: “Developing our understanding of the wider exploration potential of the LGP is an important pillar to generate more value for shareholders.

“The work completed to date has successfully identified prospective new areas which will be progressed towards drilling in 2019 as we remain focussed on our key objectives of expanding resources and delivering the LGP to a lower risk development decision point.”

READ: Kin Mining outlines $10.4 million rights issue for Leonora Gold Project

Kin is opening a 2:5 rights issue priced at 8 cents on October 22, 2018 to raise up to $10.4 million for accelerated exploration of new targets with the potential to deliver further significant resource growth at the LGP.

The funds will help Kin move LGP towards a revised feasibility study in late 2019 that can define a robust and attractive project development case.

READ: Kin Mining adds 33,900 ounces from Helens to gold bounty at Leonora

Kin’s recent drill program on, and review of, the Helens' deposit resulted in a 92% increase in Helen’s JORC resource.

The company plans to continue with the drilling programs that are delivering these JORC resource estimate upgrades.

Work is underway to update the Lewis deposit with plans to recommence drilling at the Helens, Lewis, Bruno and Mertondale deposits.

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Thu, 11 Oct 2018 12:32:00 +1100 https://www.proactiveinvestors.com.au/companies/news/206840/kin-mining-identifies-new-targets-for-drilling-at-leonora-gold-project-206840.html
<![CDATA[News - Kin Mining outlines $10.4 million rights issue for Leonora Gold Project ]]> https://www.proactiveinvestors.com.au/companies/news/206626/kin-mining-outlines-104-million-rights-issue-for-leonora-gold-project-206626.html Kin Mining NL (ASX:KIN) intends to open a 2:5 rights issue priced at 8 cents to raise up to $10.4 million to progress the Leonora Gold Project (LGP) in Western Australia.

Funding will also be used for accelerated exploration of new targets with the potential to deliver further significant resource growth at the LGP, and repayment of the outstanding US$3 million Sprott Facility.

These activities represent a pathway over the next 9 to 12 months to a fuller understanding of the overall gold endowment potential and optimised development scope of the LGP.

READ: Kin Mining adds 33,900 ounces from Helens to gold bounty at Leonora

Kin’s managing director Andrew Munckton said: “Since the suspension of project development activities earlier this year, Kin has set about restoring the credibility of the LGP in a methodical and progressive fashion.

“This raising, and the planned use of the expected funds, represents the next step in this process.

“A range of technical work streams are in progress to optimise the scope and refine the elements of the LGP.

“Alongside this work, Kin continues to target both significant further resource growth and a greater understanding of the gold endowment potential that the LGP offers.

Moving towards a revised feasibility study

“These activities are collectively targeted to ensure that the LGP is rapidly moved towards a revised feasibility study in late 2019 that can define a robust and highly attractive project development case.”

Resource updates could be further catalysts

Kin’s recent drill program on, and review of, the Helens' deposit resulted in a 92% increase in Helen’s JORC resource.

The company plans to continue with the drilling programs that are delivering these JORC resource estimate upgrades.

Work is underway to update the Lewis deposit with plans to recommence drilling in the current quarter at the Helens, Lewis, Bruno and Mertondale deposits.

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Tue, 09 Oct 2018 12:54:00 +1100 https://www.proactiveinvestors.com.au/companies/news/206626/kin-mining-outlines-104-million-rights-issue-for-leonora-gold-project-206626.html
<![CDATA[News - Kin Mining granted ASX trading halt ahead of capital raising announcement ]]> https://www.proactiveinvestors.com.au/companies/news/206436/kin-mining-granted-asx-trading-halt-ahead-of-capital-raising-announcement-206436.html Kin Mining NL (ASX:KIN) has news of a capital raising pending and has been granted a trading halt by the ASX.

The halt will remain in place until the commencement of normal trading on Tuesday, October 9, 2018, or when an announcement is released to the market, whichever occurs earliest.

Shares last traded at 9 cents at market close on Thursday.

READ: Kin Mining adds 33,900 ounces from Helens to gold bounty at Leonora

The company recently added 33,900 ounces to the indicated and inferred resource at Helens deposit within the Cardinia Mining Centre of Leonora Gold Project in Western Australia.

The updated estimate of 70,900 ounces includes a 29% increase in tonnage, 49% increase in grade and 92% increase in ounces.

This supports a larger open pit development at Helens, which is 2-kilometres from the Cardinia processing plant site.

The update was made after all assay results were received from a phase I reverse circulation and diamond drilling program completed in late July.

READ: Kin Mining negotiates flexibility for credit facility with Sprott

Drilling focused on testing mineralised lodes to a depth of 150 metres below the surface and advancing the geological and structural understanding of the area.

Infill drilling of near-surface mineralisation to a minimum drill density of 40 metres by 40 metres was also completed.

Kin is planning preliminary optimisation and pit design works to identify areas where additional drilling is warranted to reduce risk and improve the resource estimate quality in the Helens area.

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Fri, 05 Oct 2018 11:22:00 +1000 https://www.proactiveinvestors.com.au/companies/news/206436/kin-mining-granted-asx-trading-halt-ahead-of-capital-raising-announcement-206436.html
<![CDATA[News - Kin Mining adds 33,900 ounces from Helens to gold bounty at Leonora ]]> https://www.proactiveinvestors.com.au/companies/news/204473/kin-mining-adds-33900-ounces-from-helens-to-gold-bounty-at-leonora-204473.html Kin Mining NL (ASX:KIN) has added 33,900 ounces to the indicated and inferred resource at Helens deposit within the Cardinia Mining Centre of Leonora Gold Project in Western Australia.

The updated estimate of 70,900 ounces includes a 29% increase in tonnage, a 49% increase in grade and a 92% increase in ounces.

It supports a larger open pit development at Helens, which is 2-kilometres from the Cardinia processing plant site.

READ: Kin Mining has strong gold results from Leonora, new resource estimate imminent

The resource was updated after all assay results were received from the phase I reverse circulation and diamond drilling program completed in late July.

Helens resource update and comparison with the previous model.

Phase I focused on testing the mineralised lodes to a depth of 150 metres below surface and advancing the geological and structural understanding of the area.

Infill drilling of near-surface mineralisation to a minimum drill density of 40 metres by 40 metres was also completed.

Indicated resources increase 14,000 ounces

A 14,000-ounce increase in the indicated resource classification is due to a 50% increase in grade to 2.18 g/t.

This is largely attributable to the geological domaining and the incorporation of new data.

Inferred resource up 225%

Inferred resource tonnage increased 127%, grade by 36% and gold ounces by 225% over the previous estimate.

This reflects the inclusion of the depth extension at Helens Main due to the success of recent drilling.

Previous work linked the reporting of resources for the Helens and Fiona deposits into a Greater Helens resource area.

 

Fiona has been excluded from recent work and the 24,000-ounce estimate is unchanged.

This represented 40% of the previous 61,000 ounces reported for Greater Helens.

During the phase I drilling program, Kin also targeted testing the potential to extend the deposit at depth into primary mineralisation within the fresh rock.

The diamond core component of the program proved invaluable at improving the geological and structural understanding on the controls of mineralisation.

Depth potential strengthened

Deeper drilling also confirms the mineralised system extends, in areas, to a depth greater than 250 metres and, therefore, clear potential exists to increase resources below the current 150-metre depth.

Plan view of the Leonora Gold Project.

A suite of core samples from the drilling separated into a number of metallurgical domains has been selected for test work.

READ: Kin Mining negotiates flexibility for credit facility with Sprott

This focuses on primary mineralisation to a depth of 150 metres with results expected in the December quarter.

Next steps

Kin also plans preliminary optimisation and pit design works to identify areas where additional drilling is warranted to reduce risk and improve the resource estimate quality in the Helens area.

This work will involve:

- Drilling to upgrade mineral resource classification; - Systematic assessment of the lightly drilled Eastern Lodes; and - Initial assessment of the deeper mineralisation in higher grade areas below the open pit with a view to potential underground mining. Further Fiona work warranted

In addition, further assessment of the Fiona area deposits is also warranted and will be completed in the coming months.

Phase II drilling at Helens is scheduled to begin in the December 2018 quarter.

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Mon, 10 Sep 2018 10:23:00 +1000 https://www.proactiveinvestors.com.au/companies/news/204473/kin-mining-adds-33900-ounces-from-helens-to-gold-bounty-at-leonora-204473.html
<![CDATA[News - Kin Mining has strong gold results from Leonora, new resource estimate imminent ]]> https://www.proactiveinvestors.com.au/companies/news/204010/kin-mining-has-strong-gold-results-from-leonora-new-resource-estimate-imminent-204010.html Kin Mining NL (ASX:KIN) has received further strong gold assays from drilling at Helens prospect, which is part of the Cardinia Mining Centre at the Leonora Gold Project in Western Australia.

A combination of medium and high-grade intersections from phase I drilling have illustrated lode continuity at depth.

Results at depths from Helens Main lode include 3.9 metres at 10.1 g/t gold from 170.9 metres, 4.7 metres at 2.1 g/t from 151.8 metres, 5.7 metres at 1.5 g/t from 234.4 metres and 3.9 metres at 2.0 g/t from 177.4 metres.

A notable near-surface Helens Main intersection was 10.0 metres at 1.2 g/t from 35 metres.

READ: Kin Mining intersects strong gold grades at Leonora project, progresses production bore

Kin has completed a revised geological model with drill results to be incorporated in a new mineral resource estimate which will be released early this month.

Plan of Helens phase I drilling with recent significant intersections.

The phase I program consisted of 15,018 metres of reverse circulation and diamond drilling.

This was focused on testing the mineralised lodes to a depth of 150 metres below surface and advancing the geological and structural understanding of the area.

A number of auriferous structures were intersected.

Infill drilling of near-surface mineralisation to a minimum drill density of 40 metres by 40 metres was also completed.

 

Helens Main Lode is a steep dipping, continuous, linear structure over 1,500 metres of strike length which has been intersected down to a maximum depth of 180 vertical metres.

It varies in width from 2 metres to 18 metres downhole and assays generally in the 2.0 g/t to 4.0 g/t range.

Two notable higher grade zones exist in the Central and Southern parts of the structure while several other lode structures have also been intersected generally to the east of Helens Main.

These warrant further drilling.

READ: Kin Mining negotiates flexibility for credit facility with Sprott

Final phase I assay results continue to endorse the Helens area as capable of development into an expanded open pit mining centre with generally higher grade than the existing mineral resource and mine plan.

Plan view of the Leonora Gold Project.

Phase II drilling planned

Following release of the new resource estimate, preliminary optimisation and pit design works will be undertaken to identify areas where additional drilling is warranted to reduce risk and improve the resource estimate quality.

This phase II drilling is scheduled to begin in the December 2018 quarter.

Metallurgical test work is underway with a suite of core samples separated into a number of metallurgical domains selected.

This work will focus on primary mineralisation to a depth of 150 metres and results are expected during the December quarter.

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Mon, 03 Sep 2018 10:38:00 +1000 https://www.proactiveinvestors.com.au/companies/news/204010/kin-mining-has-strong-gold-results-from-leonora-new-resource-estimate-imminent-204010.html
<![CDATA[News - Kin Mining negotiates flexibility for credit facility with Sprott ]]> https://www.proactiveinvestors.com.au/companies/news/203929/kin-mining-negotiates-flexibility-for-credit-facility-with-sprott-203929.html Kin Mining NL (ASX:KIN) has reached an agreement to modify the US$27 senior secured credit facility with Sprott Private Resource Lending.

The modifications to the facility include repayment in tranches of the US$5 million outstanding and a removal of all facility covenants from the date of completion of repayment.

Kin has made the first tranche repayment of US$2 million and has sufficient cash available to repay the US$3 million balance.

READ: Kin Mining intersects strong gold grades at Leonora project, progresses production bore

By repaying the facility in tranches Kin retains the ability to utilise its cash in the most cost-effective manner as results are received from exploration.

This includes additional drilling and metallurgical work programs at Helens, Bruno Lewis and the water exploration and production bore drilling programs at Bummer Creek and Cardinia Creek.

Kin originally drew down US$5 million of the facility prior to suspending construction of the Cardinia processing plant at the Leonora Gold Project (LGP) in May of this year.

Construction was suspended in order to complete additional work programs necessary for the re-commencement of the project development.

Notably, Sprott has expressed a desire to remain involved in the LGP and has agreed to leave the facility structure in place with no additional costs until Kin has completed its additional work programs.

Sprott is a globally renowned resources-focused investment firm.

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Fri, 31 Aug 2018 09:29:00 +1000 https://www.proactiveinvestors.com.au/companies/news/203929/kin-mining-negotiates-flexibility-for-credit-facility-with-sprott-203929.html
<![CDATA[Media files - Kin Mining receiving assays, on track for updated resource estimate in September ]]> https://www.proactiveinvestors.com.au/companies/stocktube/10245/kin-mining-receiving-assays-on-track-for-updated-resource-estimate-in-september-10245.html Mon, 27 Aug 2018 09:40:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/10245/kin-mining-receiving-assays-on-track-for-updated-resource-estimate-in-september-10245.html <![CDATA[News - Kin Mining intersects strong gold grades at Leonora project, progresses production bore ]]> https://www.proactiveinvestors.com.au/companies/news/202057/kin-mining-intersects-strong-gold-grades-at-leonora-project-progresses-production-bore-202057.html Kin Mining NL (ASX:KIN) has returned significant gold assays from phase I exploration drilling at the Helens prospect within its wider Leonora Gold Project in Western Australia.

Drilling focused on extending the Helens Main and Helens South deposits to 150 metres below surface, advancing the understanding of structural controls and confirming the continuity of gold mineralisation.

The 44-hole program drilled 5,319 metres of reverse circulation (RC) and 2,385.1 metres of diamond core and results so far demonstrate the potential for a large open pit development at Helens.

High-grade results

Deeper intersections include: 15.8 metres at 3.77 g/t gold from 266.4 metres; 7 metres at 3 g/t from 144 metres; 5 metres at 3.96 g/t from 90 metres; and 3 metres at 3.41 g/t from 131 metres.

Highlighted, near-surface assays include: 1.1 metres at 135.4 g/t from 46.7 metres; 17 metres at 2.92 g/t from 9 metres; and 10 metres at 2.23 g/t from 10 metres.

READ: Kin Mining appoints Andrew Munckton to its board as managing director

The company has also commenced production bore establishment and initial testing of water supply to the Cardinia process plant site.

The geological model developed by Kin indicates that the gold mineralisation is contained within a complex shear zone of up to 40 metres true width.

The zone contains at least three discrete, steeply dipping, north trending structures.

  Updated resource estimate due in September

Further geological modelling is underway ahead of an updated mineral resource estimate due for completion by September.

Following the updated resource estimate, Kin will commence metallurgical domaining and test work programs, with a focus on sulphide ore characterisation over the fresh rock portion of the Helens deposit.

Preliminary open pit optimisation works will follow, which will provide new targeting information for phase II extension and infill drilling.

Phase II drilling is expected to begin in the December quarter 2018.

READ: Kin Mining drilling finds sufficient water for Leonora Gold Project

Kin considers water supply to the Cardinia plant site a critical path item for development.

The design for the Cardinia plant at 1.5 million tonnes per annum throughput requires water supply of 50 litres per second, with higher demand of up to 70 l/s during commissioning of the tailings dam.

After identifying several locations that justified development testing, Kin has started production bore establishment and initial testing.

Larger diameter production bores have now been established adjacent to exploration holes where, during exploration, water flow greater than 5 litres per second was encountered from the fractured rock aquifer that underlies the creek system.

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Wed, 01 Aug 2018 22:15:00 +1000 https://www.proactiveinvestors.com.au/companies/news/202057/kin-mining-intersects-strong-gold-grades-at-leonora-project-progresses-production-bore-202057.html
<![CDATA[News - Kin Mining appoints Andrew Munckton to its board as managing director ]]> https://www.proactiveinvestors.com.au/companies/news/201776/kin-mining-appoints-andrew-munckton-to-its-board-as-managing-director-201776.html Kin Mining NL (ASX:KIN) has recognised the role that chief executive officer Andrew Munckton has played in steering the company’s gold strategy by appointing him as managing director.

Munckton has been in the CEO’s role since April 2018 and the new appointment will take effect on Wednesday.

Kin’s chairman Jeremy Kirkwood said Munckton was certain to make a strong contribution to the board of directors following an outstanding job as CEO.

READ: Kin Mining’s drilling finds sufficient water for Leonora Gold Project

“Andrew’s leadership has been excellent as Kin has worked through the issues associated with the Leonora Gold Project and in recalibrating Kin’s strategic direction.

"We look forward to his increased input, particularly as an experienced mining geologist, as a member of the board of directors.”

Company secretary resigns

Kin has also accepted the resignation of Joe Graziano as company secretary, a position he has held since the company’s incorporation.

Graziano will continue to serve on Kin’s board as a non-executive director.

Chief financial officer Stephen Jones will assume the role of company secretary.

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Mon, 30 Jul 2018 09:37:00 +1000 https://www.proactiveinvestors.com.au/companies/news/201776/kin-mining-appoints-andrew-munckton-to-its-board-as-managing-director-201776.html
<![CDATA[News - Kin Mining’s drilling finds sufficient water for Leonora Gold Project ]]> https://www.proactiveinvestors.com.au/companies/news/201272/kin-minings-drilling-finds-sufficient-water-for-leonora-gold-project-201272.html Kin Mining NL (ASX:KIN) has confirmed that there is sufficient water available for project activities at the Leonora Gold Project in Western Australia.

The company has completed a drilling program aimed at annually providing a sustainable 1.5 million tonnes of suitable quality water to the Cardinia processing plant.

There were 43 reverse circulation (RC) water production boreholes completed across the project for 4,325 metres.

READ: Kin Mining concludes rights issue shortfall to secure additional funding

CEO Andrew Munckton said: “The water exploration activities have yielded reasonable success.

“Kin will now move to confirm the sustainable yields and required number of bores for full water supply for the Cardinia plant as well as dewatering plans for the Helens and Bruno Lewis pits.”

Drilling focused on Cardinia Creek, including the Helens and Bruno Lewis open pit areas, as well as Bummer Creek.

Good success rate at Bummer Creek

There was a good success rate at Bummer Creek with four of eight holes yielding sufficient water of greater than 5 litres per second to justify development testing.

This area is about 14 kilometres southeast of the plant site.

At Cardinia Creek, previous RC drilling associated with gold exploration intersected water at relatively shallow depths.

The recent program had a lower success rate with four of 35 holes yielding sufficient water to justify development testing.

READ: Kin Mining’s drilling program at Helens strikes further gold mineralisation

Next steps will include test pumping to confirm sustainable yield at Bummer Creek followed by additional exploration if the yield is confirmed.

Production bore development and testing is scheduled for the current quarter.

TSF site is suitable

Kin also conducted a sterilisation drill program over the footprint of the proposed tailings storage facility site (TSF), about 1 kilometre south of the processing plant location.

RC drilling followed up anomalous aircore results with a total of 2,273 metres completed.

Munckton said: “The sterilisation drilling at the proposed TSF location has confirmed its suitability.

“Further sterilisation drilling works will expand the sites available for tailings and waste dump storage away from the many mineralised corridors at the project.”

The vast majority of assay results were below the 0.01 g/t gold detection limit.

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Mon, 23 Jul 2018 09:22:00 +1000 https://www.proactiveinvestors.com.au/companies/news/201272/kin-minings-drilling-finds-sufficient-water-for-leonora-gold-project-201272.html
<![CDATA[News - Kin Mining's substantial shareholder demonstrates support for gold strategy ]]> https://www.proactiveinvestors.com.au/companies/news/201187/kin-mining-s-substantial-shareholder-demonstrates-support-for-gold-strategy-201187.html Kin Mining NL’s (ASX:KIN) substantial shareholder Harmanis Holdings Pty Ltd has demonstrated support for the company’s gold strategy through a series of share purchases and placement participation.

This has resulted in Harmanis increasing its interest to 7.14% from 6.20%.

Since March 26, 2018, Harmanis has invested more than $1.072 million in a number of purchases and took part in a recent placement.

It now holds more than 23 million Kin Mining shares, up from 13.7 million early this year.

READ: Kin Mining’s gold strategy attracts German substantial shareholder

Around $9 million was raised from Kin’s placement and subsequent shortfall issue.

These funds will be used to undertake exploration programs to expand the plus-1 million ounce gold resource at the Leonora project in Western Australia.

Kin also aims to repay and retire the remainder of the Sprott credit facility.

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Fri, 20 Jul 2018 10:11:00 +1000 https://www.proactiveinvestors.com.au/companies/news/201187/kin-mining-s-substantial-shareholder-demonstrates-support-for-gold-strategy-201187.html
<![CDATA[News - Kin Mining’s gold strategy attracts German substantial shareholder ]]> https://www.proactiveinvestors.com.au/companies/news/200314/kin-minings-gold-strategy-attracts-german-substantial-shareholder-200314.html Kin Mining NL’s (ASX:KIN) gold strategy has attracted interest from Germany with a business management consultant becoming a substantial shareholder.

Delphi Unternehmensberatung Aktiengesellschaft (AG), of Heidelberg, participated in the company’s recent share placement and now has a 7.19% interest.

There were more than 22.7 million shares purchased by Delphi at 11 cents each for total consideration of $2.5 million.

READ: Kin Mining concludes rights issue shortfall to secure additional funding

Almost $9 million was raised from Kin’s placement and subsequent shortfall issue.

These funds will be used to undertake exploration programs to expand the plus-1 million ounce gold resource at the Leonora project in Western Australia.

Kin also aims to repay and retire the remainder of the Sprott credit facility.

Wilhelm Zours major shareholder

Wilhelm Zours is the major shareholder of Delphi and is also chairman of investment company Deutsche Balaton AG, a role he has held since June 25, 2004.

The prominent German executive is active on the supervisory board of Beta Systems Software AG, Sparta AG and Strawtec Group AG.

He is also a board member at VV Beteiligungen AG.

Zours, through Delphi, Deutsche Balaton and VV Beteiligungen, has recently been active in other Australian resources investments.

Azure Minerals investment

These entities have increased their interest in Mexican focused precious and base metals explorer Azure Minerals Limited (ASX:AZS) to 11.13% from 10.11% through a series of on-market purchases.

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Mon, 09 Jul 2018 09:29:00 +1000 https://www.proactiveinvestors.com.au/companies/news/200314/kin-minings-gold-strategy-attracts-german-substantial-shareholder-200314.html
<![CDATA[News - Kin Mining concludes rights issue shortfall to secure additional funding ]]> https://www.proactiveinvestors.com.au/companies/news/200089/kin-mining-concludes-rights-issue-shortfall-to-secure-additional-funding-200089.html Kin Mining NL (ASX:KIN) has completed the allotment and issue of shares pursuant to its fully underwritten non renounceable 1:3 rights issue at 11 cents per new share.

READ: Kin Mining raising $11.3 million as drilling in Leonora continues to deliver high-grade gold

The allotment of 8,450,437 shares represents the final tranche of shares available under the rights Issue and the rights Issue is now closed.

Last week, Kin revealed positive results from drilling at the Helens Prospect, part of its Cardinia Gold Project in the Eastern Goldfields of Western Australia.

The Helens drilling program is focused on understanding the primary gold mineralisation below the Helens Main and Helens South open pits.

READ: Kin Mining’s drilling program at Helens strikes further gold mineralisation

Kin intersected consistent, primary mineralisation at Helens Main including:

• 9 metres at 1.7 g/t gold from 81 metres and 10 metres at 2.2 g/t gold from 122 metres; and
• 8 metres at 1.8 g/t gold from 154 metres.

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Wed, 04 Jul 2018 15:15:00 +1000 https://www.proactiveinvestors.com.au/companies/news/200089/kin-mining-concludes-rights-issue-shortfall-to-secure-additional-funding-200089.html
<![CDATA[News - Kin Mining’s drilling program at Helens strikes further gold mineralisation ]]> https://www.proactiveinvestors.com.au/companies/news/199839/kin-minings-drilling-program-at-helens-strikes-further-gold-mineralisation-199839.html Kin Mining NL (ASX:KIN) has revealed positive results from drilling at the Helens Prospect, part of its Cardinia Gold Project in the Eastern Goldfields of Western Australia.

The Helens drilling program is focused on understanding the primary gold mineralisation below the Helens Main and Helens South open pits.

READ: Kin Mining extends gold mineralisation with drilling at Helens deposit

Kin has intersected consistent, primary mineralisation at Helens Main including:

• 9 metres at 1.7 g/t gold from 81 metres and 10 metres at 2.2 g/t gold from 122 metres; and
• 8 metres at 1.8 g/t gold from 154 metres.

High grade oxide and primary mineralisation intersected at Helens South include:

• 5 metres at 15.9 g/t gold from surface; and
• 8 metres at 3.9 g/t gold from 71 metres.

The Helens drilling program consists of 17,500 metres of drilling in three stages.  Stage 1 drilling is due for completion by mid-July, with 7,276 metres completed to date.

Feeding into an updated resource estimate

Significantly, mineralisation has been encountered over 1,500 metres of strike length down to a maximum vertical depth of 140 metres below surface.

The new geological interpretation unfolding with the stage 1 drilling will feed into an updated resource expected to be completed by late August or early September dependent upon drilling progress.

READ: Kin Mining raising $11.3 million as drilling in Leonora continues to deliver high-grade gold

The company’s rights issue (one new share for every three shares held) at an issue price of 11 cents per new share closed on 26 June 2018.

The rights issue is fully underwritten by Euroz Securities Ltd who are presently managing the shortfall in accordance with the underwriting agreement.

Upon completion of the rights Issue, the total funds raised will be about $8.9 million.

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Fri, 29 Jun 2018 14:46:00 +1000 https://www.proactiveinvestors.com.au/companies/news/199839/kin-minings-drilling-program-at-helens-strikes-further-gold-mineralisation-199839.html
<![CDATA[News - Kin Mining raising $11.3 million as drilling in Leonora continues to deliver high-grade gold ]]> https://www.proactiveinvestors.com.au/companies/news/197879/kin-mining-raising-113-million-as-drilling-in-leonora-continues-to-deliver-high-grade-gold-197879.html Kin Mining NL (ASX:KIN) is undertaking a fully underwritten share placement and entitlement offer at 11 cents per share to raise about $11.3 million.

The funds will primarily be used undertake exploration programs to expand the Leonora Gold Project resource ($3.8 million) and to repay the Sprott facility ($6.7 million).

The Leonora Gold Project already contains a resource of more than 1 million ounces of gold, located within the highly endowed and operationally active Leonora gold region in Western Australia.

Leonora Gold Project hosts the Mertondale, Cardinia and Raeside Gold deposits

Intersecting consistent, high grade gold mineralisation

Kin’s drilling is continuing to deliver high-grade results at the project, including:

• 10 metres at 3.27 g/t gold from 86 metres;
• 18 metres at 3.08 g/t gold from 90 metres;
• 5 metres at 2.95 g/t gold from 75 metres; and
• 3 metres at 3.56 g/t gold from 80 metres.

Kin chief executive officer Andrew Munckton said: “The consistent, high-grade zone quickly shaping up between and below the planned open pits at Helens, is an exciting development for the Leonora Gold Project.

“The potential to extend the existing resources into the fresh rock has positive implications for future mine planning and project economics.”

READ: Kin Mining extends gold mineralisation with drilling at Helens deposit

Munckton added: “Our next phase of drilling at Helens is currently being planned and we expect further results from this area early in the September quarter.

“The other areas of the project, including Mertondale and Bruno-Lewis also hold deeper drilling potential which will be further assessed as drilling results come to hand.”

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Wed, 30 May 2018 13:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/197879/kin-mining-raising-113-million-as-drilling-in-leonora-continues-to-deliver-high-grade-gold-197879.html
<![CDATA[News - Kin Mining to boost cash position for Leonora Gold Project ]]> https://www.proactiveinvestors.com.au/companies/news/197752/kin-mining-to-boost-cash-position-for-leonora-gold-project-197752.html Kin Mining NL (ASX:KIN) remains focused on it Leonora Gold Project in Western Australia, which has a resource base of more than 1 million ounces of gold.

To advance the next steps, Kin is now heading to market with a capital raising.

READ NOW: Kin Mining continues to work on optimising Leonora Gold Project

The halt will remain in place until the opening of trade on Wednesday 30 May 2018, or earlier if an announcement is made to the market.

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Mon, 28 May 2018 09:45:00 +1000 https://www.proactiveinvestors.com.au/companies/news/197752/kin-mining-to-boost-cash-position-for-leonora-gold-project-197752.html
<![CDATA[News - Kin Mining continues to work on optimising Leonora Gold Project ]]> https://www.proactiveinvestors.com.au/companies/news/196598/kin-mining-continues-to-work-on-optimising-leonora-gold-project-196598.html Kin Mining NL (ASX:KIN) has identified several opportunities at the Leonora Gold Project in Western Australia which require additional test work, engineering design and costings to optimise the project.

Construction activities at the project has been suspended to undertake further work required to capture these opportunities.

Kin recently received a preliminary report covering engineering and metallurgical aspects of the Cardinia plant site from Como Engineers.

The report confirmed that there are no fatal flaws with regard to the Cardinia facility.

Revised capital cost estimate

However, Como has identified a number of elements of the processing plant that require additional test work and design to optimise the project returns.

The Como report confirmed the company’s expectation that there will be a material increase in the capital costs to deliver the Leonora Gold Project.

Como will continue to work with Kin to further refine and confirm the capital cost estimate in line with the additional test work that is required.

READ: Kin Mining’s drilling continues to extend mineralisation at Leonora Gold Project

The Leonora Gold Project has a resource base of more than 1 million ounces of gold in the highly endowed and operationally active Leonora gold region.

Kin intends to continue with its active exploration and drilling programs while it progresses the additional activities required to enhance and optimise the value of the project.

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Wed, 09 May 2018 11:11:00 +1000 https://www.proactiveinvestors.com.au/companies/news/196598/kin-mining-continues-to-work-on-optimising-leonora-gold-project-196598.html
<![CDATA[News - Kin Mining enters trading halt ahead of update on Leonora Gold Project development ]]> https://www.proactiveinvestors.com.au/companies/news/196462/kin-mining-enters-trading-halt-ahead-of-update-on-leonora-gold-project-development-196462.html Kin Mining NL (ASX:KIN) has entered an ASX trading halt this morning pending the release of a market update in relation to the construction and development of the Leonora Gold Project.

The halt will remain in place until the earlier of the market update or the commencement of trading on Wednesday, 9 May 2018.

Meanwhile, Kin is continuing to drill out extensions to gold mineralisation at its Leonora Gold Project in Western Australia.

READ: Kin Mining extends gold mineralisation with drilling at Helens deposit

Highlights from step-out drilling at the Helens deposit feature 14 metres at 3.08 g/t gold from 88 metres.

The Helens deposit is a priority target for resource expansion due to its close proximity to the processing plant.

The Leonora Gold Project has a resource base of more than 1 million ounces of gold and Kin is continuing its targeted exploration on the project and surrounding areas.

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Mon, 07 May 2018 12:20:00 +1000 https://www.proactiveinvestors.com.au/companies/news/196462/kin-mining-enters-trading-halt-ahead-of-update-on-leonora-gold-project-development-196462.html
<![CDATA[News - Kin Mining extends gold mineralisation with drilling at Helens deposit ]]> https://www.proactiveinvestors.com.au/companies/news/196196/kin-mining-extends-gold-mineralisation-with-drilling-at-helens-deposit-196196.html Kin Mining (ASX:KIN) has drilled out extensions to gold mineralisation at the Helens deposit within the Leonora Gold Project in Western Australia.

Highlights from the step-out drilling feature 14 metres at 3.08 g/t gold from 88 metres.

The Helens deposit is a priority target for resource expansion due to its close proximity to the processing plant location.

READ: Kin Mining set to commence gold mining alongside a rising gold price

Kin’s CEO Andrew Munckton said: “This recent drilling confirms those earlier results and illustrates the continuity of high grade mineralisation down plunge towards the south.

“In addition, the discovery of new mineralised positions in close proximity to the established mineralisation at Helens indicates that significant opportunity lies ahead.

“The company will continue to target this lightly drilled area of the project.”

15 RC holes and 4 diamond holes

15 reverse circulation (RC) holes for 1,846 metres and four diamond holes for 408 metres were drilled on the Helens area.

240 metres of diamond extends to RC holes were also drilled.

Highlights included:

• 14 metres at 3.08 g/t gold from 88 metres;
• 8 metres at 8.60 g/t gold from 88 metres;
• 6 metres at 11.9 g/t gold from 36 metres;
• 13 metres at 1.48 g/t gold from 106 metres; and
• 15 metres at 3.14 g/t gold from 64 metres.

Drilling also discovered new mineralisation

While drilling intersected high-grade gold extensions, it also intersected previously undiscovered mineralised position.

Assays remain pending for diamond holes.

The exploration rigs have moved to the Mertondale 3-4 deposit and drilling is also planned at the extensive Bruno-Lewis Complex, targeting deeper mineralisation below the current pit design.

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Wed, 02 May 2018 10:03:00 +1000 https://www.proactiveinvestors.com.au/companies/news/196196/kin-mining-extends-gold-mineralisation-with-drilling-at-helens-deposit-196196.html
<![CDATA[News - Kin Mining appoints experienced Andrew Munckton as chief executive officer ]]> https://www.proactiveinvestors.com.au/companies/news/195908/kin-mining-appoints-experienced-andrew-munckton-as-chief-executive-officer-195908.html Kin Mining NL (ASX:KIN) has appointed the highly-experienced Andrew Munckton as chief executive officer.

As a geologist and holder of numerous executive roles with a wide range of mining companies, Munckton will be valuable in shaping the group’s strategy.

Management said that he would be instrumental in driving the company’s exploration program and realising its development ambitions for the Leonora Gold Project.

Extensive experience

Chairman Jeremy Kirkwood said: “Andrew’s extensive experience in leading executive teams, operating successful gold mines, project management, gold exploration and corporate strategy give the board complete confidence that he is the right person to be the CEO of Kin Mining.”

Most recently, Munckton was managing director of a junior gold and base metals exploration and development company, Syndicated Metals Limited (ASX:SMD).

His recent focus at Syndicated has been on leading the acquisition and exploration of the Monument Gold Project in Western Australia.

This project is adjacent to Dacian Gold’s (ASX:DCN) Mount Morgans gold mine.

Strategic involvement in large developments

Munckton has held executive roles at Avalon Minerals, Gindalbie Metals (ASX:GBG) and Placer Dome Asia Pacific.

He was also general manager of the high profile Kanowna Belle and Kundana gold mines, now owned by Northern Star Resources (ASX:NST).

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Fri, 27 Apr 2018 09:34:00 +1000 https://www.proactiveinvestors.com.au/companies/news/195908/kin-mining-appoints-experienced-andrew-munckton-as-chief-executive-officer-195908.html
<![CDATA[News - Kin Mining’s drilling continues to extend mineralisation at Leonora Gold Project ]]> https://www.proactiveinvestors.com.au/companies/news/195206/kin-minings-drilling-continues-to-extend-mineralisation-at-leonora-gold-project-195206.html Kin Mining NL’s (ASX:KIN) drilling has successfully extended the mineralised envelopes at the Kyte deposit within the Leonora Gold Project in Western Australia.

The drilling has confirmed the shallow nature of the mineralisation with significant high-grade zones, including:

• 25 metres at 2.2 g/t gold from 3 metres, including 1 metre at 9.3 g/t gold;
• 5 metres at 10.3 g/t gold from 21 metres, including 1 metre at 20.9 g/t gold; and
• 5 metres at 4.7 g/t gold from 8 metres, including 1 metre at 19.6 g/t gold.

Exploration upside at Leonara

The Leonora Gold Project (LPG) already has a resource base of more than 1 million ounces of gold.

Kin’s acting managing director Trevor Dixon said: “Kin’s 2018 resource drilling program continues uninterrupted.

“The results returned from the first target at Kyte highlight the exploration upside that exists at the LGP and we look forward to reporting further drill results from other resource areas as soon as they become available.”

Potential to grow the resource to the east, south and at depth

Kin is continuing to review its deposits at the LGP with the drilling designed to enhance the resource base and improve on the reserve conversion.

The company’s 2018 drilling program commenced at Kyte in areas with the potential to grow the resources to the east, south and at depth.

Kyte is a priority area in the future mining schedule for the LGP due to its favourable economics.

Detailed modelling for future mine planning

A total of 44 reverse circulation drill holes for 2,796 metres were completed during February and March 2018.

Deeper drilling has identified primary gold mineralisation, while drilling to the south has identified narrow gold mineralisation which will also be incorporated into a model update.

These results will be used for an updated resource estimate and an ore reserve for Kyte and will be incorporated into detailed modelling for future mine planning.

Resource drilling continuing across key deposits

Drilling is currently underway at Helens, Helens South and Mertondale 3-4, with programs also planned at Bruno and Lewis.

The drill holes at Helens are designed to follow up the excellent results returned in late 2017.

Exploration drilling at Mertondale 3-4 is designed to test for possible underground mining targets of the known gold mineralisation.

Mertondale 3-4 is 15 kilometres from the planned Cardinia processing plant.

READ: Kin Mining engages consultants for review of Leonora project as construction is curtailed ]]>
Wed, 18 Apr 2018 11:34:00 +1000 https://www.proactiveinvestors.com.au/companies/news/195206/kin-minings-drilling-continues-to-extend-mineralisation-at-leonora-gold-project-195206.html
<![CDATA[News - Kin Mining engages consultants for review of Leonora project as construction is curtailed ]]> https://www.proactiveinvestors.com.au/companies/news/194691/kin-mining-engages-consultants-for-review-of-leonora-project-as-construction-is-curtailed-194691.html Kin Mining NL (ASX:KIN) has engaged Como Engineers to undertake an independent and thorough review of the Leonora Gold Project (LGP) in Western Australia.

The company has tasked the independent consultants to generate new cost and time to complete estimates, along with a rigorous implementation plan for the project.

Increase in pre-production capital cost estimate

This follows a decision by the company’s board to curtail construction pending a full review of the capital cost and schedule for completion.

An increase in the existing pre-production capital cost estimate has necessitated the decision.

Company statement

In a statement, Kin said: “The existing estimate of $35.4 million was detailed in the definitive feasibility study (DFS) on the LGP completed in October 2017.

“Following recent changes to the composition of Kin's board, a review process of key aspects of the LGP was commenced pursuant to which it has become apparent that the DFS estimate of pre-production capital costs will need to be adjusted.

“If the company had continued with development of the LGP the potential scope of increase in capital costs would have given rise to the requirement for a significant equity capital raising to fund the increase, along with expected exploration and corporate costs, during the construction period for the LGP.

“The Board wishes to undertake a comprehensive review of the LGP to ensure that, before full project development is resumed, it has a high degree of confidence in key project parameters, cost and time estimates, and a clear and certain funding path in place to complete the LGP.

“The Board considers that this course of action is necessary to ensure that a significant equity capital raising is not conducted at a time when the Board cannot be confident of the projected capital cost and schedule to complete the LGP.”

READ: Kin Mining attracts funding from Sprott on pathway to gold production

The project has a resource base of more than 1 million ounces of gold and the company remains confident that the project holds significant value.

Kin will continue its targeted exploration on the project and surrounding areas.

Existing debt provider for the project, Sprott Resource Lending LLC, has been advised of the board’s decision to curtail work.

The company is in discussions with Sprott to determine the most effective way forward.

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Wed, 11 Apr 2018 12:23:00 +1000 https://www.proactiveinvestors.com.au/companies/news/194691/kin-mining-engages-consultants-for-review-of-leonora-project-as-construction-is-curtailed-194691.html
<![CDATA[News - Kin Mining granted halt ahead of Leonora Gold Project cost estimate and scheduling ]]> https://www.proactiveinvestors.com.au/companies/news/194468/kin-mining-granted-halt-ahead-of-leonora-gold-project-cost-estimate-and-scheduling-194468.html Kin Mining NL (ASX:KIN) has been granted a trading halt by the ASX pending an announcement relating to the cost estimate and schedule of the Leonora Gold Project.

The halt will remain in place until the opening of trade on Wednesday, April 11, 2018, or earlier if an announcement is made to the market.

Kin has previously announced that it expected to begin production at the Leonora project in Western Australia by the end of the year.

READ: Kin Mining commences construction of 55,000 ounces per annum gold mine at Leonora

Having completed a definitive feasibility study, the project is forecast to produce at an average rate of 55,000 ounces of gold per annum.

Leonora has a JORC-compliant resource of 1.02 million ounces and an ore reserve of 373,000 ounces.

Resources are spread across three deposits, Mertondale, Cardinia and Raeside, all of which show good potential for resource growth.

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Mon, 09 Apr 2018 11:08:00 +1000 https://www.proactiveinvestors.com.au/companies/news/194468/kin-mining-granted-halt-ahead-of-leonora-gold-project-cost-estimate-and-scheduling-194468.html
<![CDATA[News - Kin Mining set to commence gold mining alongside a rising gold price ]]> https://www.proactiveinvestors.com.au/companies/news/193925/kin-mining-set-to-commence-gold-mining-alongside-a-rising-gold-price-193925.html Kin Mining NL (ASX:KIN) continues to advance construction of its Leonora Gold Project (LGP) in Western Australia which is on track to achieve production in the December quarter of 2018.

The project is forecast to produce at an average rate of 55,000 ounces of gold per annum from its JORC resource of 1.02 million ounces and JORC ore reserve of 373,000 ounces.

The resources are spread across three deposits, Mertondale, Cardinia and Raeside - all which show good potential for resource growth.

With the AUD gold price near its all-time highs at A$1,750 per ounce, Kin has timed its move into production very well.

Awarded the 2017 “Best Emerging Company” at Diggers & Dealers

LGP sets a solid foundation for Kin who was awarded Best Emerging Company at the renowned Diggers & Dealers resources conference in 2017.

The definitive feasibility study (DFS) confirms LGP will be a high margin gold mine:

• Pre-production capital cost of $35.4 million including 18% contingencies;
• Pre-production capital payback period of 11 months;
• Estimated annual production of 55,000 ounces per annum over 7-year mine-life;
• Life of mine (LOM) all-in-sustaining cost (AISC) of A$1,038 per ounce; and
• Pre-tax net present value (NPV) of A$107.4 million.

Leveraged to a rising gold price

The project’s DFS valuation used a gold price of A$1,600 per ounce meaning when the gold price is above this level, the project’s value increases.

Significantly, using a gold price of A$1,750 per ounce, the NPV increases 35% to $145.8 million.

The LGP’s value is further highlighted by its AISC cost of A$1,038 per ounce of gold produced, which clearly highlights the high-margin project.

Exploration continues in tandem with construction

Kin continues to pursue its aggressive drilling campaign as Kin ramps up to production.

Drilling has commenced at the group’s Kyte orebody to extend on its indicated resource of 21,000 ounces of gold.

Expanding the JORC resource can increase project economics

Defining and increasing the mineralisation at Kyte aims to enhance the project economics and, in turn, provide the opportunity for early payback of the debt facility.

Increasing the resource at Kyte will also provide greater flexibility within the mine plan.

Drilling is also planned at other prospects where high-grade gold was encountered in 2017.

Kin’s interim managing director Trevor Dixon said: “Significant exploration is underway on Kin’s highly prospective tenure, giving an exciting opportunity to grow our project.

“The LGP is a project that, given its favourable economics, is set to be a low-cost gold producer with considerable upside for shareholders.”

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Wed, 28 Mar 2018 15:22:00 +1100 https://www.proactiveinvestors.com.au/companies/news/193925/kin-mining-set-to-commence-gold-mining-alongside-a-rising-gold-price-193925.html
<![CDATA[News - Kin Mining commences construction of 55,000 ounces per annum gold mine at Leonora ]]> https://www.proactiveinvestors.com.au/companies/news/193331/kin-mining-commences-construction-of-55000-ounces-per-annum-gold-mine-at-leonora-193331.html Kin Mining NL (ASX:KIN) has commenced construction at its Leonora gold project in Western Australia.

This is in preparation for the company’s move to first production December 2018.

Having completed its definitive feasibility study, the company’s forecasting an average production rate of 55,000 ounces per annum.

Exploration continues in tandem with construction

Kin is looking to build on its resource of about 1 million ounces which includes a reserve of 373,000 ounces.

Drilling has commenced at the group’s Kyte orebody to extend on its indicated resource of 21,000 ounces of gold.

Improving Kyte should increase project economics

Defining and increasing the mineralisation at Kyte aims to enhance the project economics and, in turn, provide the opportunity for early payback of the debt facility.

Increasing the resource at Kyte will also provide greater flexibility within the mine plan.

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Mon, 19 Mar 2018 07:55:00 +1100 https://www.proactiveinvestors.com.au/companies/news/193331/kin-mining-commences-construction-of-55000-ounces-per-annum-gold-mine-at-leonora-193331.html
<![CDATA[News - Kin Mining attracts funding from Sprott on pathway to gold production ]]> https://www.proactiveinvestors.com.au/companies/news/188323/kin-mining-attracts-funding-from-sprott-on-pathway-to-gold-production-188323.html 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.

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Thu, 07 Dec 2017 09:16:00 +1100 https://www.proactiveinvestors.com.au/companies/news/188323/kin-mining-attracts-funding-from-sprott-on-pathway-to-gold-production-188323.html
<![CDATA[News - Kin Mining readies key news flow on feasibility ]]> https://www.proactiveinvestors.com.au/companies/news/184698/kin-mining-readies-key-news-flow-on-feasibility-184698.html Kin Mining NL (ASX:KIN) continues to build momentum in Western Australia, and the company is now preparing to release the Leonora Gold Project Feasibility Study and Maiden Ore Reserve.

Kin has bene granted a trading halt by the ASX to prepare.

The halt will remain in place until the opening of trade on Monday 2nd October 2017, or earlier if an announcement is made to the market.

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Thu, 28 Sep 2017 10:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/184698/kin-mining-readies-key-news-flow-on-feasibility-184698.html
<![CDATA[News - Kin Mining's Trevor Dixon mapped out gold production timeline at Proactive's CEO Sessions ]]> https://www.proactiveinvestors.com.au/companies/news/183851/kin-mining-s-trevor-dixon-mapped-out-gold-production-timeline-at-proactive-s-ceo-sessions-183851.html Kin Mining's (ASX:KIN) chairman, Trevor Dixon, joined Proactive's CEO Sessions in Melbourne on Tuesday 12th September and Sydney on Wednesday 13th September.

Kin is preparing to reveal its Definitive Feasibility Study for the Leonora Gold Project in Western Australia.

The project already hosts over one million ounces, with growth potential.

ACCESS THE FULL PRESENTATION HERE ]]>
Fri, 15 Sep 2017 13:24:00 +1000 https://www.proactiveinvestors.com.au/companies/news/183851/kin-mining-s-trevor-dixon-mapped-out-gold-production-timeline-at-proactive-s-ceo-sessions-183851.html
<![CDATA[News - Kin Mining's Trevor Dixon brings imminent gold resource upgrade to Proactive's CEO Sessions ]]> https://www.proactiveinvestors.com.au/companies/news/182625/kin-mining-s-trevor-dixon-brings-imminent-gold-resource-upgrade-to-proactive-s-ceo-sessions-182625.html Kin Mining Ltd (ASX:KIN) is developing and exploring the wholly-owned Leonora Gold Project in Western Australia.

A JORC Resource update is imminent, which will add to the current 721,000 ounces.

Also pending is a Definitive Feasibility Study and maiden Ore Reserve, based on a target production of 50,000 gold ounces a year.

Find out more from Trevor Dixon at Proactive's CEO Sessions.

Click below to register

- Melbourne: Tuesday 12th September.
- Sydney: Wednesday 13th September.
- Email Pauline here.
- Call office on (02) 9280 0700.

Presenter list

- Carnarvon Petroleum (ASX:CVN): Adrian Cook
- King River Copper (ASX:KRC): Anthony Barton
- Kin Mining (ASX:KIN): Trevor Dixon
- Great Boulder Resources (ASX:GBR): Stefan Murphy
- Stargroup (ASX:STL): Todd Zani

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Fri, 18 Aug 2017 11:19:00 +1000 https://www.proactiveinvestors.com.au/companies/news/182625/kin-mining-s-trevor-dixon-brings-imminent-gold-resource-upgrade-to-proactive-s-ceo-sessions-182625.html
<![CDATA[News - Kin Mining NL to update on drilling from Leonora ]]> https://www.proactiveinvestors.com.au/companies/news/174251/kin-mining-nl-to-update-on-drilling-from-leonora-174251.html Kin Mining NL (ASX:KIN) has been granted a trading halt by the ASX, pending an update to the current drilling program underway at the Leonora Gold Project.

The halt will remain in place until the opening of trade on Wednesday 8th March 2017, or earlier if an announcement is made to the market.

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Mon, 06 Mar 2017 10:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/174251/kin-mining-nl-to-update-on-drilling-from-leonora-174251.html
<![CDATA[News - Kin Mining launches share purchase plan ]]> https://www.proactiveinvestors.com.au/companies/news/173085/kin-mining-launches-share-purchase-plan-173085.html 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.

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Tue, 14 Feb 2017 08:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/173085/kin-mining-launches-share-purchase-plan-173085.html
<![CDATA[News - Kin Mining NL appoints Trevor Dixon as chairman ]]> https://www.proactiveinvestors.com.au/companies/news/173019/kin-mining-nl-appoints-trevor-dixon-as-chairman-173019.html Kin Mining NL (ASX:KIN) has details a restructure of its board as its preparations for the development and production at its Leonora Gold project in Western Australia.

Long-standing managing director, Trevor Dixon, has been appointed non-executive chairman, replacing Terry Grammer, who has resigned from the board.

Don Harper, who has been appointed managing director, commented:

"Since joining the Company six months ago, Don has made a significant contribution to delivering a successful Pre-Feasibility Study on time and professionally bringing together a team of consultants and employees to drive the process efficiently and effectively."

In other changes, experienced metallurgist David Sproule has been appointed a non-executive director, and Fritz Fitton has resigned as non-executive director.

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

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Mon, 13 Feb 2017 09:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/173019/kin-mining-nl-appoints-trevor-dixon-as-chairman-173019.html
<![CDATA[News - Kin Mining NL delivers more high-grade gold from Leonora ]]> https://www.proactiveinvestors.com.au/companies/news/172896/kin-mining-nl-delivers-more-high-grade-gold-from-leonora-172896.html Kin Mining NL (ASX:KIN) has revealed high-grade near surface drilling results from the Kyte deposit at its Leonora Gold Project in Western Australia.

High-grade highlights include: 6 metres at 8.8g/t gold from surface, including 1 metre at 19.3g/t gold.

These were supported by broader intersections such as: 21 metres at 2.3g/t gold from 11 metres; and 15 metres at 2.6g/t gold from 4 metres.

The Kyte deposit is part of the greater resource at Cardinia which currently stands at 4.86 million tonnes at 1.3g/t gold for 192,000 ounces.

Don Harper, chief executive, said the latest results provided another boost to the upcoming Resource estimate and Feasibility Study.

"These shallow, high grade results within the free-digging Kyte open pit have exceeded our expectations.

"In light of these results, Kyte may be scheduled to be mined earlier in the mine plan than previously anticipated, leading to earlier and increased revenue generation."

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Thu, 09 Feb 2017 13:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/172896/kin-mining-nl-delivers-more-high-grade-gold-from-leonora-172896.html