viewKin Mining NL

Kin Mining secures $8 million through binding commitments

The company's flagship asset is its Leonora Gold Project (LGP) in Western Australia.

speech bubble that says the word funding
The company is working towards a development decision in the second half of next year

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.

Quick facts: Kin Mining NL

Price: 0.037 AUD

Market: ASX
Market Cap: $21.13 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Kin Mining NL named herein, including the promotion by the Company of Kin Mining NL in any Content on the Site, the Company receives from said...



Kin Mining MD updates on development of Cardinia gold project near Leonora

Kin Mining NL (ASX:KIN) managing director Andrew Munckton updates Proactive Investors on development of the Cardinia gold project, near Leonora in Western Australia. Results from 16 of 51 holes drilled at both the Lewis and Helens prospects have been released so far. Munckton says,...

on 20/2/19

2 min read