Kin raises cash for exploration drive
PERTH (miningweekly.com) – Junior Kin Mining has raised A$7-million in a one-for-6.5 rights issue, priced at 10.5c each.
The ASX-listed company on Wednesday reported that the company had received acceptances for more than 66.4-million new shares, with a shortfall of 56.5-million shares remaining.
“We are grateful for the continued support of our shareholders, who have provided strong support in the entitlements issue. The funds raised will enable us to maintain significant exploration momentum across the Cardinia gold project, where our systematic and multi-pronged approach to exploration and resource growth continues to pay dividends,” said MD Andrew Munckton.
“The current Phase 5 exploration program commenced in October and is well underway. An initial 3 000 m of reverse circulation drilling has recently been completed at Mt Flora and results from the maiden aircore drilling program at the new Pegasus target at Cardinia are imminent as we assess the multiple other exciting targets and emerging discoveries across the project. We are looking forward to a strong flow of news and announcements in the coming weeks.”
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