Kaiser Reef Limited: Development of the A1 Nova Gold Mine Placement

Kaiser Reef Limited (ASX: KAU) has secured firm commitments to place Kaiser shares at AU$0.15 per share, raising an impressive AU$8 million. This substantial funding will be strategically deployed for the following essential purposes: Advancing the A1 Mine ramp-up and expansion, restarting drilling activities at the A1 Mine, bolstering general working capital, and enabling further drilling at Maldon. This strategic allocation of funds underscores the company's prudent financial management.

This pivotal investment milestone is anticipated to serve as the conclusive financing required to culminate the development of the recently accessible Nova Gold Project. The prospective new mine development promises to amplify high-grade gold production significantly, signaling a transformative leap as production transitions from the current remnant gold mining operation. Notably, Kaiser has already channeled approximately AU$24 million in capital costs to access the Nova Gold Project, positioned beneath the remnant mine workings, while effecting substantial enhancements in power, fleet, and ventilation infrastructure.

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