https://www.miningweekly.com

Kin raises cash for Leonora studies

9th June 2015

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – ASX-listed junior Kin Mining plans to raise A$3-million to fund the prefeasibility study (PFS) of its Leonora gold project, in Western Australia.

Kin on Tuesday announced that it would raise an initial A$1-million through the issue of up to 10-million new shares at a price of 10c each. The placement would be made to sophisticated and professional investors.

The placement would be conducted under the company’s 15% placement capacity, and would not require shareholder approval.

In addition to the placement, Kin would also launch a share purchase plan, allowing eligible shareholders (SPP) the opportunity to participate in the raising. The SPP would raise a further A$2-million.

Kin MD Trevor Dixon told shareholders that the funding strategy would assist the company in progressing the Leonora gold project into a large-scale mining operation.

The raising would fund the completion of the PFS, as well as working capital for operational improvements to assist with the development of the Lewis near-term production opportunity.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Advanced Fire Suppression Technologies
Advanced Fire Suppression Technologies

Established on 1 March, 2000, by Barries Barnard, Advanced Fire Suppression Technologies (AFST) and the Advanced Group stands as Sub-Saharan...

VISIT SHOWROOM 
Bell Equipment
Bell Equipment

As one of South Africa's leading manufacturers, Bell Equipment distributes and exports its wide range of heavy equipment globally to mining,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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:0.042 0.811s - 111pq - 2rq
Subscribe Now