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An announcement from Kingsgate Consolidated Limited ( (AU:KCN) ) is now available.
Kingsgate Consolidated has issued 2.5 million fully paid ordinary shares following the exercise of an equivalent number of options held by US-based Taurus Mining Finance Fund No.2, L.P., a mining and natural resources financier. The new shares were issued without a prospectus under the Corporations Act’s disclosure exemptions, with Kingsgate confirming it is up to date with its financial reporting and continuous disclosure obligations and stating that it is not withholding any material information, signalling regulatory compliance and a strengthened equity position for the company and its financier stakeholder.
The most recent analyst rating on (AU:KCN) stock is a Hold with a A$6.00 price target. To see the full list of analyst forecasts on Kingsgate Consolidated Limited stock, see the AU:KCN Stock Forecast page.
More about Kingsgate Consolidated Limited
Kingsgate Consolidated Limited (ASX: KCN) is an Australian-listed company operating in the mining and natural resources sector, with a focus on precious metals. The company engages in exploration, development and production activities, and accesses specialist financing from global mining-focused investment funds to support its capital and operational needs.
Average Trading Volume: 1,746,792
Technical Sentiment Signal: Buy
Current Market Cap: A$1.52B
For detailed information about KCN stock, go to TipRanks’ Stock Analysis page.