KGL raises funds for Jervois drilling
PERTH (miningweekly.com) – ASX-listed KGL Resources will raise up to A$6.5-million through a share placement to fund exploration work at its Jervois copper project, in the Northern Territory.
Some 21.67-million new shares will be issued at a price of 30c each, to raise the funds.
KGL on Tuesday said that 12.7-million shares will be placed with Marshall Plenty, raising A$3.8-million, with a further 5.6-million issued to shareholder KMP Investments for a further A$1.7-million.
A further 3.3-million shares, worth A$1-million, will be issued to the ASM Connaught House Fund.
“Investors can look forward to strong news flow in the months ahead as we apply the funds to high impact infill drilling programmes at Reward and Rockface to further upgrade the mineral resource classification and to estimate an ore reserve to support the financing initiatives for the development of the Jervois project,” said KGL chairperson Denis Wood.
“These funds will support the continued retention of the services and expertise of the two drill rigs and crews currently on site, given their involvement in last year’s infill drilling programme.”
Drilling will also be undertaken to establish a sustainable water source, said Wood.
Comments
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation