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Kingsgate raises A$46m

28th March 2023

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – Junior gold miner Kingsgate Consolidated has completed a A$46-million institutional placement.

The company this week flagged a capital raise to progress the restart of operations at its Chatree gold mine, in Thailand, announcing that it would issue up to 30.7-million shares at a price of between A$1.50 and A$1.60 a share.

On Tuesday, the miner said that it had issued 30.7-million shares at an issue price of A$1.50 each. The shares will be issued under the company’s existing placement capacity.

“The strong support shown from both new Australian and international investors and existing shareholders in this placement is a firm endorsement of the company and its strategy. We are thrilled to be recommencing operations at Chatree and returning to production,” said Kingsgate executive chairperson Ross Smyth-Kirk.

Settlement of the placement will take place on March 30.

Edited by Creamer Media Reporter

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