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Kingsgate Consolidated Limited ( (AU:KCN) ) has provided an update.
Kingsgate Consolidated has secured a new US$25 million standby loan facility from Nebari Natural Resources Credit Fund II and related entities, using an initial US$10 million drawdown and about US$21 million in cash to refinance its existing US$31 million debt. The refinancing sharply reduces Kingsgate’s borrowings by 68% to A$15 million, lowers its interest costs, extends loan maturities, removes a larger future warrant overhang, and replaces it with a smaller, higher-priced warrant package, collectively strengthening the balance sheet, enhancing financial flexibility for future initiatives, and underscoring Nebari’s continued support as Kingsgate scales up gold and silver production.
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 gold and silver producer, with operations that have recently ramped up from no production to quarterly output of 24,000 ounces of gold and over 200,000 ounces of silver, positioning the company as a growing player in the precious metals mining sector.
Average Trading Volume: 1,802,405
Technical Sentiment Signal: Buy
Current Market Cap: A$1.45B
See more data about KCN stock on TipRanks’ Stock Analysis page.