German institutional investor Delphi Unternehmensberatung AG purchased 28 million shares valued at $1.4 million and now holds a 16.96% stake, up from 12.27%.
Delphi has almost 82 million shares
Heidelberg-based Delphi, which has been very active in other Australian resource investments, now holds almost 82 million shares.
Harmanis Holdings buys 12 million shares
Harmanis Holdings Pty Ltd has increased its interest in Kin to 13.8% from 12.4% after purchasing 12 million shares valued at $600,000.
The WA investor now holds more than 66.682 million shares.
Kin will use funds raised in the placement to sophisticated shareholders to complete a pre-feasibility study for the Cardinia Gold Project in WA, the outcome of which are expected to be finalised shortly.
Funds will also provide additional working capital for the next phase of work on project assessment after consideration of the PFS outcomes.
The resource for Cardinia was recently upgraded to 782,000 ounces grading 1.41 g/t gold.