KGL.ASX: First Payment of Deposit on US$300million Stream Arrangement

First Payment of Deposit on US$300million Stream Arrangement

Stock	KGL Resources Ltd (KGL.ASX)
Release Time	18 Jun 2026, 9:06 a.m.
Price Sensitive	Yes

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KGL Receives Initial Payment on Precious Metals Purchase Agreement

Key Points

KGL received the first tranche of US$16 million from Wheaton
Payment is part of a US$300 million silver and gold metal stream arrangement
Funds will be used for the Jervois Copper Project's early works
Second tranche of the Early Deposit planned for late September 2026

Full Summary

KGL Resources Limited (ASX:KGL) has received the first tranche of US$16 million from Wheaton Precious Metals Corp. under the Precious Metals Purchase Agreement (PMPA). The PMPA, totaling US$300 million, includes an upfront consideration of US$275 million and a contingent deposit of US$25 million. The US$275 million is divided into an Early Deposit of US$32 million and a Remaining Deposit of US$243 million, which will be disbursed in four tranches. The receipt of the first tranche of the Early Deposit marks a significant milestone for the Jervois Copper Project in the Northern Territory, Australia. KGL CEO Sam Strohmayr emphasized the importance of this milestone in maintaining the project schedule and progressing towards a final investment decision.