Kingston launches review of Misima

5th July 2022 By: Esmarie Iannucci - Creamer Media Senior Deputy Editor: Australasia

PERTH (miningweekly.com) – ASX-listed Kingston Resources has launched a strategic review of its Misima gold project assessing options to maximise shareholder value.

Kingston said on Tuesday that the strategic review would be conducted in parallel with ongoing mining licence and environmental and social impact assessment work programmes, which will likely be concluded in the September quarter.

“The board, in consultation with ICA Partners, look forward to investigating opportunities to advance the company’s interest in Misima by identifying, evaluating and entering into potential strategic transactions relating to the long-term value opportunity at Misima,” said Kingston MD Andrew Corbett.

“We look forward to working on this exciting review, and we are confident that there are strategic opportunities to advance the Misima gold project, but more importantly, to achieve significant value creation for our shareholders.”

The strategic review follows a positive definitive feasibility study (DFS), delivered in June this year.

The DFS estimated that the project could produce 2.4-million ounces of gold over a 20-year mine life, at an all-in sustaining cost of A$1 217/oz. The project is expected to require a capital investment of A$476-million and could generate life-of-mine revenues of A$6.1-billion at a gold price of $1 800.