Osborne Park-based Kin Mining has rejected a takeover offer from goldminer and major shareholder St Barbara, while announcing a $13 million capital raising.
Calidus Resources says it will begin construction for its Pilbara gold project in six months, while Kin Mining and Moho Resources have moved ahead with drill programs for other projects in Western Australia.
Explorers Kin Mining, Mindax and Bryah Resources have each launched capital raisings today, with the majority of the proceeds to advance drill programs in Western Australia, while Chile-focused Tesoro Resources is seeking funds to advance its El Zorro gold project.
Gold explorer Kin Mining says it has received commitments from a group of unnamed shareholders to underwrite $8 million of its planned entitlement offer.
The board of Kin Mining says costs at its Leonora gold project could have blown out by up to 50 per cent, after the explorer today released an engineering report that was leaked online earlier this week.
A group of dissident shareholders led by former director David Sproule are seeking a board spill at gold-aspirant Kin Mining, including the removal of new chief executive Andrew Munckton.
Gold-focused Kin Mining has announced plans to raise up to $10.4 million via an entitlement offer, while also revealing it has received interest for potential acquisition deals.
KIN Mining has suspended construction at its $35 million Leonora gold project after a review by Como Engineers confirmed increases in pre-production capital costs.
Aspiring gold miner KIN Mining has appointed former Syndicated Metals managing director Andrew Munckton as its new chief executive, after former leader Don Harper quit in February.
Independence Group has announced plans to sell its Stockman copper-zinc project in Victoria for $47.2 million in cash and royalty payments, but will record a $20 million impairment on the project.
Shares in Subiaco-based explorer Syndicated Metals are higher on the back of what it describes as highly encouraging drilling results at its flagship Barbara copper-gold project in northern Queensland.
