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Kingston Resources Limited (ASX:KSN)

ALERT: Price-sensitive ASX Announcement for KSN
Current share price for KSN : $0.036 -0.004 (-10%)+
Announcement
Release
18 Jun 2026 9:51AM
Price at Release
$0.040
Full Release
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Summary
Kingston Resources Limited announced a $12.9 million capital raising to unlock the potential of Mineral Hill, through a $4.4 million placement and an $8.5 million entitlement offer. The funds will primarily support a 25,000m drilling program aimed at increasing resources and reserves at Mineral Hill, as well as plant expansion studies to enhance the existing processing facility. The strengthening of Kingston's balance sheet, projected to include $32.3 million in cash, will aid in the strategy execution. The company's strategic advantage is underscored by owning the only polymetallic plant in the South Cobar Basin, which can produce gold doré. Drilling will focus on expanding underground resources at the Southern Ore Zone (SOZ) and Jack's Hut, and testing new targets at Parker's Hill East. The Entitlement Offer is fully underwritten by Argonaut Corporate Finance Limited.
Key Points
  • $12.9 million capital raising involving a $4.4 million placement and an $8.5 million entitlement offer
  • Funding will be used for a 25,000m drilling program at Mineral Hill
  • Plant expansion studies at Mineral Hill processing facility
  • Kingston Resources to have a strong balance sheet post-raising, with $32.3 million in cash
  • Kingston Resources' strategic value includes owning the only polymetallic plant in South Cobar Basin
  • Drilling focused on extending underground drilling at SOZ and Jack's Hut, and surface drilling at Parker's Hill East
  • Entitlement Offer underwritten by Argonaut Corporate Finance Limited
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.