Kingston Resources Ltd (ASX:KSN) has announced a strategic capital raise of $13.5 million, aimed at accelerating its vision for a sustainable critical minerals operation in the Cobar region of central New South Wales. The company has successfully raised $8.1 million, with plans to secure an additional $5.4 million through an accelerated non-renounceable entitlement offer (ANERO). This financial boost is set to play a pivotal role in expanding the Pearse Project and finalizing the Tailings Mining Project at the Mineral Hill operations, projects that are expected to increase payable metal by 133% year-on-year.
CEO Andrew Corbett emphasized the nearing completion of the processing plant refurbishment, a milestone that will enable a significant ramp-up in production. The completion of the Tailings Project is also a critical step towards commencing hard rock mining at Mineral Hill, further enhancing the company's operational capacity. With its strong infrastructure and exploration potential, Kingston Resources is well-positioned to establish a long-term, sustainable operation in the critical minerals sector.
The capital raise underscores Kingston Resources' commitment to leveraging its strategic assets in the Cobar region, not only to meet immediate project goals but also to secure its position as a key player in the critical minerals market. For more details on Kingston Resources' strategic initiatives, visit https://www.kingstonresources.com.au.
