KIN Mining and PNX Metals Announce Merger

PNX Metals Limited (AU:PNX) has released an update.

KIN Mining NL is set to merge with PNX Metals Limited, creating a diversified mining group with significant resources in gold, silver, base metals, and uranium across Australia. The deal promises a robust balance sheet with a combined market capitalization of A$123.0m, including A$89.6m in cash and no debt, offering an exceptional growth platform for the merged entity. PNX shareholders will receive a 6.2% premium in a share exchange, holding a 28% stake in the new group compared to KIN’s 72%.

For further insights into AU:PNX stock, check out TipRanks’ Stock Analysis page.