Kingston Resources delivers high-grade results; secures $8.8 million as part of $13.5 million raise
Melbourne, Victoria
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April 09, 2024 03:15 PM Eastern Daylight Time
Kingston Resources Ltd (ASX:KSN) CEO Andrew Corbett sits down with Proactive’s Jonathan Jackson to discuss updated assay information from recent resource definition drilling at Mineral Hill’s underground mine, intercepting individual grades as high as 25.03 g/t gold, 295 g/t silver, 6.45% copper, 29.7% lead and 34.71% zinc. Drilling was designed as infill in areas of potential early production and extension to the northwest.Corbett also discusses the completion of the $8.8 million institutional segment of the company’s $13.5 million capital raise, which includes a $8.1 million private placement and a $730,000 accelerated component. This move saw about 135.7 million new shares issued at $0.065 each, setting the stage for the next phase of funding.The capital injection is earmarked for advancing Kingston’s strategic initiatives, notably the development of the Misima Gold Project in Papua New Guinea and continued operations at the Mineral Hill mine in New South Wales. These projects are integral to Kingston's ambition to become a mid-tier entity in the gold and base metals sector.
Contact Details
Proactive Investors
Jonathan Jackson
+61 413 713 744
