https://www.miningweekly.com

Kingwest raises exploration funding

14th October 2021

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – ASX-listed Kingwest Resources will raise A$4-million in a share placement to fund exploration work in Western Australia.

The company will place some 33.33-million shares, at a price of 12c each, to professional and sophisticated investors.

The funds raised in the placement will be used to fund exploration at the Goongarrie gold project, with focus on follow-up drilling at the recently announced Sir Laurence discovery. Funding will also go towards resource definition drilling at Menzies.

“We are excited by our initial exploration success at Sir Laurence and eagerly anticipate the imminent drilling campaigns which we hope will confirm a large gold system,” said Kingwest CEO Ed Turner.

“This capital raise will provide the company with sufficient funding to test Sir Laurence and other regional targets in the period ahead of expected cash flow from our Menzies mining joint venture, which we hope will supplement future exploration expenditure.”

Edited by Creamer Media Reporter

Comments

The functionality 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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION