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Kinetiko Energy Ltd. ( (AU:KKO) ) just unveiled an update.
Kinetiko Energy Limited has issued 15,384,615 new fully paid ordinary shares to Talent 10 Holdings, a related party of a company director, at an issue price of $0.065 per share. This issuance, part of a previously announced placement, allows the new shares to be tradeable immediately under the Corporations Act exemption. This strategic move is expected to enhance Kinetiko’s financial positioning, supporting its ongoing gas exploration and development activities in South Africa.
More about Kinetiko Energy Ltd.
Kinetiko Energy is a gas exploration company focusing on advanced onshore shallow conventional gas opportunities in South Africa. Its tenements are strategically located near aging coal-fired power stations and infrastructure, aiming to support South Africa’s shift towards modern power solutions by providing base load power and backup to renewables. The company has significant gas reserves and contingent resources, establishing a substantial onshore gas project.
Average Trading Volume: 192,771
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$82.12M
For a thorough assessment of KKO stock, go to TipRanks’ Stock Analysis page.