Kingston Resources Limited: Summary of Quarterly Activities

Kingston Resources Limited (ASX: KSN) quarterly activities report for the period ending 30 June 2023 highlights significant achievements across its key projects. At the Mineral Hill Gold & Copper Mine in New South Wales, a record-breaking 4,778 ounces of gold were sold, generating AU$14.4 million in sales and AU$7.1 million in operating cash flow. The company's overall FY23 performance remained robust, with total sales of AU$44.7 million and operating cash flow of AU$14.7 million.

To bolster Mineral Hill's production, Kingston Resources successfully raised AU$5.5 million and initiated a fully underwritten Share Purchase Plan (SPP) to raise an additional AU$1 million. The life of mine plan (LOM) was updated, encompassing open pit and underground mining until the end of FY27, targeting a total LOM production of 123,000 ounces of gold equivalent (AuEq) payable, with copper production anticipated to begin in late CY24. The company advanced at Misima Gold Project, PNG, with environmental assessments and mining license studies nearing completion. With a Cash balance of AU$18.2 million as of June 30, 2023 company is driving growth.

Customer Notice:

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.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com