Kingsland Minerals Ltd (ASX: KNG) has secured AU$3.6 million in funding to advance its Leliyn Graphite Project located in the Northern Territory. The company experienced robust backing from both its existing shareholders and new, reputable institutional investors and specialized resource funds. Bacchus Resources Pty Ltd, a related party, has provided cornerstone support to maintain their 11.2% holding in Kingsland.
With the successful placement, Kingsland is now fully funded to progress various activities related to the Leliyn Graphite Project, including RC and diamond drilling, metallurgical test work, geophysics, and maiden resource estimation. Following the completion of the placement, Kingsland will have a robust cash balance of approximately AU$5.5 million. The company expects a substantial flow of news in the near term, including pending assay results for 16 additional holes and ongoing RC drilling activities.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
