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Kin Mining board and management stand with shareholders and buy shares

The company aims to accelerate resource growth at its flagship Leonora Gold Project.
board room
Shares in the company last traded at 8.4 cents

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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