Kin Mining

Aspiring gold miner KIN Mining has tapped investors for $10 million as the company increases exploration work at its Leonora project in the Goldfields region.

KIN Mining managing director Don Harper has resigned today following a move from former directors Terry Grammer and Fritz Fitton to remove board member David Sproule.

Aspiring gold miner KIN Mining is still on the hunt for a new managing director after the resignation of Don Harper last week, with the company announcing a board restructure that will include an independent chairperson.

Shares in KIN Mining have nearly halved in value today after the company announced it would be reviewing its $35 million Leonora gold project following expected 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.

More than $12 billion of mining projects are in the pipeline for WA and likely to proceed, with major iron ore developments the biggest contributor.

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.

Two junior explorers have announced capital raisings today, with aspiring gold miner KIN Mining tapping investors for $11.3 million while Nzuri Copper has raised $6 million.

Beacon Minerals has raised $18 million via a debenture issue, with the proceeds expected to bring the company’s Jaurdi gold project into production next year.

SPECIAL REPORT: WA’s 30 gold miners achieved a small increase in aggregate output last year with the state’s biggest producer, Newmont Mining, making up about a sixth of this at 1.1m ounces, research by Business News has found.

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.

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.

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.

Gold explorer Kin Mining says it has received commitments from a group of unnamed shareholders to underwrite $8 million of its planned entitlement offer.

SPECIAL REPORT: The information listed explorers disseminate via traditional news outlets and social media is a growing focus of regulators.

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.

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.

Melbourne's St Barbara has bought a significant stake in Kin Mining from philanthropist and mining magnate Kerry Harmanis.

Osborne Park-based Kin Mining has rejected a takeover offer from goldminer and major shareholder St Barbara, while announcing a $13 million capital raising.

Explorers Kin Mining and Alchemy Resources are set to raise $13 million and $3.1 million respectively in a bid to push ahead with ongoing exploration and drilling activities.

Genesis Minerals has paid $53 million for two gold projects under a deal with Kin Mining, adding to the mid-tier goldminer’s consolidation of assets in Leonora.

Kin Mining has confirmed it is considering new acquisition and investment options, following the recent sale of gold deposits within its Cardinia gold project, located near Leonora.

Genesis Minerals has unveiled its five-year strategic plan, flagging a desire to become a major ASX-listed gold producer.

Shares in Kin Mining dipped by 11 per cent early on Monday morning, following news that the resources company will likely merge with PNX Metals, after both parties signed a scheme of arrangement.