KGL Resources Limited ( (AU:KGL) ) has provided an announcement.
KGL Resources Limited has announced a 1 for 8 pro-rata non-renounceable entitlement offer to raise up to $7.7 million, with a minimum raise condition of $3 million. The funds will be used to advance the Jervois Project towards construction, following a positive Feasibility Study Update. The major shareholder, KMP Investments Pte. Ltd., has committed to a $2.7 million investment, signaling strong internal support. This move is aimed at securing necessary funding and partnerships for the project’s next phase, which could significantly impact the company’s operational capabilities and market position.
More about KGL Resources Limited
KGL Resources Limited is a company operating in the mining industry, focusing on the development and exploration of mineral resources. Its primary project is the Jervois Project, which is geared towards transitioning from exploration to construction, indicating a strategic focus on advancing its mining operations.
YTD Price Performance: -8.33%
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: $40.51M
See more data about KGL stock on TipRanks’ Stock Analysis page.