KGL Resources Advances Jervois Project with AU$7.7 million Entitlement Offer

KGL Resources Limited (ASX: KGL) is advancing its Jervois Project toward construction with a non-renounceable entitlement offer aimed at raising up to AU$7.7 million. The offer, set at a ratio of 1 new share for every 8 existing shares at AU$0.095 per share, is not underwritten and has a minimum raise condition of AU$3 million. The company's major shareholder, KMP Investments Pte. Ltd., has committed to taking up its full entitlement, contributing AU$2.7 million. The funds will be allocated towards securing project funding, execution planning, independent technical reviews, and covering corporate and site overheads. KGL’s feasibility study update highlights the project's strong economic viability, reinforcing the company’s commitment to transitioning from exploration to development. The entitlement offer opens on March 14, 2025, with trading of new shares commencing on April 2, 2025. Investors are encouraged to participate early, with further details available in the offer booklet.

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