https://www.miningweekly.com
Copper|Exploration|Flow|PROJECT|Resources|Services|Sustainable|Water|Flow|Drilling
Copper|Exploration|Flow|PROJECT|Resources|Services|Sustainable|Water|Flow|Drilling
copper|exploration|flow-company|project|resources|services|sustainable|water|flow-industry-term|drilling

KGL raises funds for Jervois drilling

26th February 2019

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – ASX-listed KGL Resources will raise up to A$6.5-million through a share placement to fund exploration work at its Jervois copper project, in the Northern Territory.

Some 21.67-million new shares will be issued at a price of 30c each, to raise the funds.

KGL on Tuesday said that 12.7-million shares will be placed with Marshall Plenty, raising A$3.8-million, with a further 5.6-million issued to shareholder KMP Investments for a further A$1.7-million.

A further 3.3-million shares, worth A$1-million, will be issued to the ASM Connaught House Fund.

“Investors can look forward to strong news flow in the months ahead as we apply the funds to high impact infill drilling programmes at Reward and Rockface to further upgrade the mineral resource classification and to estimate an ore reserve to support the financing initiatives for the development of the Jervois project,” said KGL chairperson Denis Wood.

“These funds will support the continued retention of the services and expertise of the two drill rigs and crews currently on site, given their involvement in last year’s infill drilling programme.”

Drilling will also be undertaken to establish a sustainable water source, said Wood.

Edited by Creamer Media Reporter

Comments

Showroom

John Deere (Pty) Ltd
John Deere (Pty) Ltd

In 1958 John Deere Construction made its first introduction to the industry with their model 64 bulldozer.

VISIT SHOWROOM 
Willard
Willard

Rooted in the hearts of South Africans, combining technology and a quest for perfection to bring you a battery of peerless standing. Willard...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024
Resources Watch
Resources Watch
17th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.072 0.111s - 152pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: