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An announcement from Kingston Resources Ltd. ( (AU:KSN) ) is now available.
Kingston Resources Ltd. has announced the sale of its Misima Gold Project in Papua New Guinea to Ok Tedi Mining Limited for $95 million. This strategic divestment will significantly strengthen Kingston’s balance sheet, allowing for debt repayment and providing capital for exploration and expansion at its Mineral Hill project. The transaction aligns with Kingston’s corporate strategy to focus on growth opportunities in the Australian copper and gold sectors, enhancing its position as a well-funded producer with potential for long-term returns.
More about Kingston Resources Ltd.
Kingston Resources Limited is an Australian company operating in the mining industry, primarily focusing on copper and gold production. The company is engaged in exploration and development projects, with a notable focus on the Mineral Hill project in Australia.
YTD Price Performance: 29.58%
Average Trading Volume: 1,493,950
Technical Sentiment Signal: Buy
Current Market Cap: A$75.62M
See more data about KSN stock on TipRanks’ Stock Analysis page.