Australia’s Kin Mining has announced plans to raise up to A$10.4 million (US$7.4 million) to develop its Leonora gold project, accelerate the exploration of new targets, and repay its credit facility.
“A range of technical workstreams are in progress to optimise the scope and refine the elements of the LGP. Alongside this work, Kin continues to target both significant further resource growth and a greater understanding of the gold endowment potential that the LGP offers. These activities are collectively targeted to ensure that the LGP is rapidly moved towards a revised Feasibility Study in late 2019 that can define a robust and highly attractive project development case,” Andrew Munckton, the company’s managing director, said in a statement.
Kin Mining says it is a West Australian-based gold development and exploration company. The company’s main focus is its Leonora gold project, located in Western Australia’s North-Eastern Goldfields re-gion, with a gold mineral resource of more than 1 million oz.