Curated News
By: NewsRamp Editorial Staff
April 04, 2024

Kingston Resources Raises $13.5 Million to Accelerate Long-Term Critical Minerals Vision

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Source News Release

TLDR

  • Kingston Resources raises $13.5 million, accelerating expansion of projects for a significant production ramp-up, solidifying strategic position in resource-rich region.
  • The capital raise of $13.5 million will be used to expand the Pearse Project and complete the Tailings Mining Project at the Mineral Hill operations.
  • The funds raised will contribute to establishing a sustainable, long-term critical minerals operation, capitalizing on robust infrastructure and exploration potential, making the world a better place.
  • Kingston Resources CEO Andrew Corbett highlights the strategic significance of the projects in central New South Wales, including expected 133% increase in payable metal year-on-year and the completion of the Tailings Project.

Impact - Why it Matters

The news highlights the company's efforts to secure funding for key projects that will not only boost production but also solidify its strategic position in the resource-rich Cobar region. This has the potential to impact the local economy and job market, as well as contribute to the long-term sustainability of critical minerals operations in the area.

Summary

Kingston Resources Ltd CEO Andrew Corbett discusses a $13.5 million capital raise, with $8.1 million already raised and another $5.4 million expected through an accelerated non-renounceable entitlement offer. The funds will be used to expand the Pearse Project and complete the Tailings Mining Project at the Mineral Hill operations, with the goal of boosting production and supporting operational enhancements. Corbett emphasizes the strategic significance of these projects in central New South Wales and the expected increase in payable metal year-on-year.

Source Statement

This curated news summary relied on this press release disributed by News Direct. Read the source press release here, Kingston Resources Raises $13.5 Million to Accelerate Long-Term Critical Minerals Vision

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