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Kingston Resources boosts cash coffers with $350,000 from royalty sale of tenements at Higginsville Gold Operations

During the June quarter, the company completed an $8.4 million capital raising to progress the PFS and resource expansion drilling at Misima Gold Project in Papua New Guinea.

Kingston Resources Ltd - Kingston Resources receives $350,000 in cash for royalty sale of tenements within Higginsville Gold Operations
Total exploration expenditure during the June quarter was $1.4 million

Kingston Resources Ltd (ASX:KSN) has received $350,000 in cash for the sale of its historic royalty over tenements within the Higginsville Gold Operations north of Norseman in WA’s Eastern Goldfields for a total consideration of $650,000.

Shares in Vox Royalty Corp (CVE:VOX) have also been issued to Kingston for the $300,000 share-based component of consideration.

Vox Royalty is a growth and precious metals focused mining royalty and streaming company that holds a portfolio of 36 royalties and streaming assets and one royalty option.

It has been the fastest-growing royalty and streaming acquisition company since January 2019, announcing 12 separate royalty transactions.

Sale executed in late-May

In late May Kingston agreed to the sale of a historical gold royalty established in 1992 over several tenements held by RNC Minerals within the Higginsville Gold Operations to Vox Royalty.

The sale is for total consideration of $650,000, of which $350,000 will be settled in cash and $300,000 in Vox Royalty shares.

Quick facts: Kingston Resources Ltd

Price: 0.265 AUD

ASX:KSN
Market: ASX
Market Cap: $61.1 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

2 min read