Following the recently completed sale of certain gold deposits to Genesis Minerals, ASX-listed Kin Mining is well-funded with A$75-million in cash and liquid assets and is now looking for potential strategic investments or acquisitions.
One such opportunity that it is looking to pursue is a potential merger with fellow-listed minerals explorer PNX Metals.
The company this week revealed that it had issued a nonbinding and indicative offer to PNX Metals, which held the Hayes Creek zinc/gold/silver, and Fountain Head gold projects, in the Pine Creek region of the Northern Territory.
The companies are engaging in preliminary discussions, PNX noted in a statement.