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Kingsland Minerals Ltd. ( (AU:KNG) ) just unveiled an announcement.
Kingsland Minerals Ltd has announced a successful capital raising of $1.6 million through the placement of 13.28 million shares at $0.12 each. Major shareholders Quinbrook Infrastructure Partners and Bacchus Resources have increased their stakes in the company, demonstrating confidence in the Leliyn Graphite Project. The funds will support the commencement of a pre-feasibility study for the project. Additionally, a share purchase plan will be offered to eligible shareholders at the same price. The company also appointed Anthony Latimer as the new independent non-executive chairman, bringing his extensive legal expertise to the board.
More about Kingsland Minerals Ltd.
Kingsland Minerals Ltd is a company operating in the mining industry, focusing on the exploration and development of mineral resources. Their primary project is the Leliyn Graphite Project located in the Northern Territory, which positions them in the graphite market.
Average Trading Volume: 157,228
Technical Sentiment Signal: Hold
See more insights into KNG stock on TipRanks’ Stock Analysis page.