Kingsland Minerals Raises $1.6m, Appoints New Chairman
Key points
- Firm commitments for $1.6m placement at $0.12 per share
- Existing major shareholders increase holdings to 19.99% and 10%
- Share Purchase Plan to raise up to $500,000 at $0.12 per share
- Experienced corporate lawyer Anthony Latimer appointed as Independent Chairman
Full summary
Kingsland Minerals Ltd (ASX:KNG) has announced a $1.6 million capital raising through a placement of 13.53 million shares at $0.12 per share. The company's two largest shareholders, Quinbrook Infrastructure Partners and Bacchus Resources, have elected to increase their holdings to 19.99% and 10% respectively, subject to shareholder approval. In addition, Kingsland will offer a Share Purchase Plan (SPP) to eligible shareholders, also at $0.12 per share, to raise up to $500,000. The funds raised will be used to progress the Leliyn Graphite Project in the Northern Territory, including the commencement of a Pre-Feasibility Study following a recent positive Scoping Study. The company has also appointed experienced corporate lawyer Anthony Latimer as Independent non-executive Chairman, effective October 1, 2025. Latimer has over 40 years of experience in mergers and acquisitions, corporate advisory, and various directorships across the energy, mining, and transport sectors.
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