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An announcement from Kingsmen Resources ( (TSE:KNG) ) is now available.
Kingsmen Resources has successfully closed a non-brokered private placement, raising $1,135,000 to advance its Las Coloradas Silver/Gold project in Mexico and for working capital. The financing involved issuing 1,576,389 units, each comprising one common share and one-half of a common share purchase warrant. This strategic move aims to bolster the company’s exploration efforts and strengthen its position in the mining sector, with the participation of company insiders highlighting confidence in its growth trajectory.
More about Kingsmen Resources
Kingsmen Resources is a mineral exploration company focused on advancing its 100% held Las Coloradas Project in the prolific mining district of Parral, Mexico. The project includes the historic high-grade silver mine, Las Coloradas, and is considered prospective for further precious metal deposits. The company also holds a 1% NSR on the Los Ricos North project operated by GoGold Resources Inc. in Mexico. Kingsmen is publicly traded on TSX.V and OTCQB and is headquartered in Vancouver, British Columbia.
Average Trading Volume: 37,501
Technical Sentiment Signal: Buy
Current Market Cap: C$23.84M
For an in-depth examination of KNG stock, go to TipRanks’ Stock Analysis page.