KGL Resources Announces $7.7 Million Entitlement Offer to Advance Jervois Project

Highlights:

• KGL Resources Limited (ASX: KGL) launches a 1-for-8 entitlement offer to raise up to $7.7 million, with a minimum raise of $3 million.
• Funds will be used to advance the Jervois Project towards construction, including securing financial advisors and conducting an Independent Technical Review.
• The offer opens on March 14, 2025, and closes on March 25, 2025, with major shareholder KMP Investments Pte. Ltd. committing $2.7 million.

Capital Raise to Support Project Development

KGL Resources Limited (ASX: KGL) has launched a 1-for-8 non-renounceable entitlement offer to raise up to approximately $7.7 million, with a minimum raise condition of $3 million. At the time of writing, the company confirmed that its major shareholder, KMP Investments Pte. Ltd., has committed to taking up its full entitlement, contributing $2.7 million toward the offer.

Funding to Drive Jervois Project Towards Construction

The company is shifting its focus towards transitioning the Jervois Project into development, following the release of its Feasibility Study Update, which highlights the project’s strong economic potential.

Proceeds from the entitlement offer will be allocated to:

• Securing corporate financial advisors for project funding.
• Advancing project execution planning and conducting an Independent Technical Review.
• Covering corporate and site-related expenses.

KGL Resources' Executive Chairman, Jeff Gerard, emphasized that after years of exploration and feasibility studies, the company is now in a strong position to secure funding and partnerships for the project’s construction phase.

Entitlement Offer Details

• Ratio: 1 new share for every 8 existing shares.
• Offer Price: $0.095 per new share.
• Minimum Gross Proceeds: $3 million.
• Maximum Gross Proceeds: $7.7 million.

Eligible shareholders will receive a personalized entitlement and acceptance form detailing their participation. The offer opens on March 14, 2025, and closes on March 25, 2025.

With a clear path towards securing funding, KGL Resources is set to push forward with its Jervois Project, marking a significant step in the company’s growth strategy.

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