Proactive Investors - Run By Investors For Investors

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.

View full KIN profile View Profile

Kin Mining NL Timeline

Related Articles

Diammonium phosphate fertiliser produced from Ammaroo ore
April 02 2019
If shareholders agree, the natural resources fund may take over a lion’s share of VRM this quarter then delist the entity.
Pacific American Coal's Elko coking coal project in Canada
January 10 2019
The company drilled the project in 2018 and is waiting on laboratory assays.
Cobalt
November 28 2018
The junior miner is acquiring the Hautalampi nickel-copper-cobalt deposit in the historic Outokumpu mining camp of eastern Finland

© Proactive Investors 2019

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

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