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Kingston Resources oversubscribed $2 million SPP completes $8.4 million capital raising

The SPP marks the completion of a successful capital raising to advance the company’s PNG and WA gold projects.

Kingston Resources Ltd - Kingston Resources oversubscribed share purchase plan raises $2 million
Shares will be issued on July 14

Kingston Resources Ltd's (ASX:KSN) $2 million share purchase plan (SPP) announced in late May has closed more than 50% oversubscribed, marking the completion of a highly successful $8.4 million capital raising.

A total of 12.5 million new fully-paid ordinary shares will be issued under the SPP at 16 cents per share with shares to be allotted on July 14 2020.

First come first serve basis

Kingston has thanked all existing shareholders who made applications under the SPP.

The board has accepted valid applications on a ‘first come, first accepted’ basis, as outlined in the SPP offer documentation.

Funds from the excess applications will be refunded to applicants.

Advancing exploration

Proceeds raised will provide Kingston with additional working capital to advance its exploration and development activities at its flagship Misima Gold Project in PNG and Livingstone Gold Project in WA, where drilling is scheduled to commence shortly.

Kingston currently owns 81% of the Misima Gold Project and 75% of the high-grade Livingstone Gold Project.

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ASX:KSN
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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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