KGL completes Jervois fundraising
PERTH (miningweekly.com) – ASX-listed KGL Resources has raised A$21.57-million of a A$23.77-million target to fund the development of its Jervois copper project, in the Northern Territory.
KGL on Friday announced that its entitlement offer had raised A$9.57-million before costs, bringing its total funds raised to A$21.57-million.
The company had received valid applications for more than 22.79-million new shares, representing some 81.3% of the more than 28-million shares offered under the 1-for-13 entitlement offer, which had been priced at 42c a share.
New shares issued under the entitlement offer are expected to start share trading on March 24.
KGL had previously said that proceeds from the equity raising would go towards the Jervois copper project, and would enable KGL to optimise mine planning, complete project feasibility, undertake financing, and provide a pool of funds to test additional exploration targets in the area.
“Infill and step-out drilling has recommenced at Jervois and following the success of this raising, we will add a second rig in April to explore the key greenfield targets,” said executive chairperson Denis Wood on Friday.
“The feasibility study is well under way as well as financing discussions. It is our ambition to commence development in the second half of this year, subject to the final investment decision.”
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation