$12.9M Capital Raising to Unlock Mineral Hill Potential
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| Stock | Kingston Resources Ltd (KSN.ASX) |
|---|---|
| Release Time | 18 Jun 2026, 9:51 a.m. |
| Price Sensitive | Yes |
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Kingston Resources Announces $12.9M Capital Raising
Key Points
- $12.9M capital raising to fund exploration and plant expansion
- $4.4M placement and $8.5M underwritten entitlement offer
- Focus on 25,000m drilling program and plant expansion studies
- Strong balance sheet post capital raising
Full Summary
Kingston Resources Limited (ASX: KSN) announced a $12.9M capital raising to unlock the potential of its Mineral Hill operation. The capital raising includes a $4.4M placement and an $8.5M fully underwritten entitlement offer. The primary use of the proceeds will be a 25,000m drilling program to expand the resource and reserve base, and plant expansion studies to increase processing capacity up to 700ktpa. The company expects to emerge well-funded with $32.3M in cash, including a $10M payment from the Misima Gold Project sale.
Guidance
Kingston Resources expects to have $32.3M in cash post-capital raising.
Outlook
Kingston Resources aims to expand its Mineral Hill operation through exploration and plant expansion, targeting a larger production base.
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