Kingston Resources Ltd (ASX:KSN) is embarking on a strategic capital raise, securing $13.5 million to accelerate its long-term vision of establishing a sustainable critical minerals operation in the resource-rich Cobar region of central New South Wales. The company has already raised $8.1 million, with an additional $5.4 million expected through an accelerated non-renounceable entitlement offer (ANERO).
According to CEO Andrew Corbett, the funds will be instrumental in expanding the Pearse Project and completing the Tailings Mining Project at the Mineral Hill operations. These initiatives are poised to drive a significant 133% increase in payable metal year-on-year, solidifying Kingston Resources’ strategic position in the region.
Corbett highlighted the refurbishment of the processing plant nearing completion, paving the way for a substantial production ramp-up. The Tailings Project’s completion also sets the stage for hard rock mining at Mineral Hill, further bolstering the company’s operational capabilities.
With a robust infrastructure and exploration potential, Kingston Resources is capitalizing on the opportunity to establish a sustainable, long-term critical minerals operation. Corbett’s vision extends beyond the immediate projects, aiming to leverage the company’s strategic assets and position in the Cobar region. The capital raise will support operational enhancements and boost production, aligning with Kingston Resources’ ambitious goals in the critical minerals sector. Visit this link for more information on the company’s strategic initiatives.
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