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. With $8.1 million already secured and an additional $5.4 million anticipated through an accelerated non-renounceable entitlement offer (ANERO), the company is set to significantly expand its Pearse Project and complete the Tailings Mining Project at its Mineral Hill operations.
CEO Andrew Corbett emphasized the transformative potential of these funds, projecting a 133% increase in payable metal year-on-year. This ambitious growth is supported by the nearing completion of the processing plant refurbishment, which is expected to facilitate a substantial production ramp-up. Furthermore, the Tailings Project's completion will enable hard rock mining at Mineral Hill, enhancing Kingston Resources' operational capabilities and strategic positioning in the region.
The capital raise underscores Kingston Resources' commitment to leveraging its robust infrastructure and exploration potential in the Cobar region. Corbett's vision extends beyond immediate projects, focusing on establishing a sustainable, long-term critical minerals operation. This initiative not only aligns with the company's ambitious goals but also contributes to the broader critical minerals sector's growth. For more details on Kingston Resources' strategic initiatives, visit https://www.kingstonresources.com.au.
