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Kingston Resources director supports gold strategy through on-market purchases

Non-executive director Stuart Rechner has acquired 84,000 shares and now holds almost 201,000 in an indirect interest.

Kingston Resources Ltd - Kingston Resources director supports gold strategy through on-market purchases
The company has gold projects in Papua New Guinea and Western Australia

Kingston Resources Ltd (ASX:KSN) director Stuart Rechner has shown his support for the company’s gold strategy with on-market share purchases.

Between December 11 and 17 the non-executive director acquired 84,000 shares with a total value of $12,420.

He now holds almost 201,000 fully paid ordinary shares in an indirect interest.

Kingston is advancing the 77%-owned, 2.8 million-ounce Misima Gold Project in Papua New Guinea and the 75%-owned Livingstone Gold Project in Western Australia.

Shares in the company, which has a market cap of approximately $28.3 million, last traded at 16 cents, the highest since November 8.

New company secretary

Kingston has this week also appointed Christopher Drew as company secretary replacing Rozanna Lee.

Drew joined the company in June 2016 as business and commercial manager and has been the CFO since July 2018.

He holds a Bachelor of Commerce (Hons) from The University of Auckland, is a CFA Charter holder and a Fellow member of the Governance Institute of Australia.

The company’s board thanks Ms Lee for her services to the company.

Misima was operated as a profitable open pit mine by Placer Pacific between 1989 and 2001, producing more than 3.7 million ounces before it was closed when the gold price was below US$300/ounce.

The project offers potential for additional resource growth through exploration success targeting extensions and additions to the 2.8 million-ounce resource base.

Quick facts: Kingston Resources Ltd

Price: 0.175 AUD

ASX:KSN
Market: ASX
Market Cap: $30.9 m
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Kingston Resources has encouraging new targets at Misima Gold Project in PNG

 Kingston Resources Ltd (ASX:KSN) chief executive officer Andrew Corbett updates Proactive Investors on the favourable drilling targets at the company’s flagship Misima Gold project in PNG. Corbett says Misima is a large project with a 2.8 million ounce resource base, on an island east...

on 1/8/19

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