Proactive Investors - Run By Investors For Investors

Kin Mining’s substantial shareholders boost stakes after placement participation

Delphi Unternehmensberatung AG now has a 16.96% interest in the gold company while Harmanis Holdings Pty Ltd has a 13.8% stake.
Australian bank notes
The company raised $2.1 million in a placement to existing sophisticated shareholders

Kin Mining NL’s (ASX:KIN) substantial shareholders have increased their interest in the company through participation in a share placement that raised $2.1 million.

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.

READ: Kin Mining will use $2.1 million placement funds to finalise Cardinia gold PFS

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.

READ: Kin Mining uses recent drilling to update gold resource at Cardinia

The resource for Cardinia was recently upgraded to 782,000 ounces grading 1.41 g/t gold.

This week Delphi has taken a 6.25% stake Venture Minerals Ltd (ASX:VMS) after participating in a placement.

View full KIN profile View Profile

Kin Mining NL Timeline

Related Articles

Hayes Creek and Burnside projects in the NT
February 06 2019
The Northern Territory is PNX’s focus as exploration efforts move indoors during the wet season.
1550828159_African-Battery-Metals---exploration-team.jpg
February 22 2019
A reinvigorated African Battery Metals is about to embark on the next phase of its story
Mining pic
June 18 2019
A resource estimate dated November 26 last year showed a higher confidence indicated resource of 11.7 million tonnes, containing 1.8 billion pounds of zinc

© 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