Kingston Resources Limited (ASX:KSN)

ALERT: Price-sensitive ASX Announcement for KSN

Current share price for KSN : $0.035 0.003 (9.38%)⁺

Announcement

Quarterly Activities Report

Release

31 Jul 2026 8:33AM

Price at Release

$0.032

Full Release

Summary

The Quarterly Activities Report for Kingston Resources Limited, ending June 2026, highlights significant developments, including a shift in strategic focus due to a pit wall failure at Pearse South. This event led to the suspension of open-pit mining and strategic redirection towards resource growth and underground development. The report details a 50% increase in the Southern Ore Zone's Mineral Resource Estimate to 6.54Mt, coupled with a strategic 25,000m drilling program intended to expand resources and support future underground mining operations. Financially, the company raised $12.9 million through equity placements and an entitlement offer while concluding the quarter with $11.74 million in cash. Additionally, Kingston managed to secure $10 million as a deferred cash payment related to the sale of Misima Gold Project. Despite the reduction in on-site personnel due to these operational changes, Kingston aims to bolster its production capacity and resource base to maximize shareholder value.

Key Points

Suspension of open-pit mining at Pearse South due to a wall failure.
$12.9 million raised through equity placements and entitlement offers.
Increase in Southern Ore Zone Mineral Resource Estimate by 50% to 6.54Mt.
Strategic shift towards underground development and resource expansion.
25,000m drilling program planned for resource growth.
Closure of the quarter with $11.74 million in cash and additional $10 million from Misima sale.
Reduction in personnel with redundancies resulting from strategic changes.
Aim to enhance production capacity with expanded resource base.

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.