https://www.engineeringnews.co.za
Gold|Mining|PROJECT|Resources|Testing|Drilling
Gold|Mining|PROJECT|Resources|Testing|Drilling
gold|mining|project|resources|testing|drilling

Kin Mining completes sale of WA gold deposits

9th February 2024

By: Creamer Media Reporter

     

Font size: - +

ASX-listed Kin Mining has completed the sale of selected gold deposits in the Cardinia gold project, in Western Australia, to fellow-listed Genesis Minerals.

The completion of the transaction this week resulted in Kin receiving A$15-million in cash and 21.92-million fully paid shares. With the issue of additional shares, Kin's shareholding in Genesis increased to 38.03-million shares, or about 3.4% of its issued share capital.

With A$80-million in cash and liquid assets, Kin is now well funded to pursue a range of strategic opportunities.

“We are very pleased to announce the completion of this transformative transaction, which crystallises significant value for our shareholders from the company’s efforts over the years to build a substantial resource inventory at the Cardinia gold project.

"Kin is now in an enviable position in the junior resources space, with a very strong balance sheet and the ability to move forward with a range of exciting strategic opportunities,” said executive chairperson Rowan Johnston.

In the near term, Kin will start drilling and testing the newly discovered volcanic-hosted massive sulfide horizons at Cardinia and then move on with drilling for deeper and higher grade gold targets.

Edited by Creamer Media Reporter

Comments

Showroom

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
Schauenburg SmartMine IoT
Schauenburg SmartMine IoT

SmartMine IoT has been developed with the mining industry in mind, to provides our customers with powerful business intelligence and data modelling...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 04 October 2024
Magazine round up | 04 October 2024
4th October 2024

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.241 0.289s - 288pq - 2rq
Subscribe Now