G'day Sharesx,
Not quite sure what you mean by "credit rating", though I assume you're wondering whether the Company achieved funding for its Leonora Gold Project?
The answer is a resounding "Yes" - KIN has finalised an AU$35m credit facility with Canadian Sprott Private Resource Lending, which indeed has already advanced an initial AU$6.5m.
This was achieved on competitive and favourable terms for KIN shareholders.
As a consequence, I believe site works are underway at Leonora this month.
As part of the deal, and to accelerate further exploration, KIN also announced a $10m raising at 25c.
We're into the tail-end of that now. $7m has already been raised from institutional & sophisticated investor clients of Petra Capital, and we're just working through the final $3m which is going to shareholders in a 1 for 16 Rights Issue.
I think it's the Rights Issue, plus any weak hands from Petra, that has the share price flopping around at the minute.
That'll soon be behind us, however, and with a good stash to do the job, the Company will be rolling up its sleeves and getting well stuck-in to becoming Aussie's next mid-tier gold producer.
At which point 25c will be just a laughable price for Kin Mining shares.
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Last
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Mkt cap ! $71.86M |
Open | High | Low | Value | Volume |
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1 | 77607 | 0.060 |
1 | 100000 | 0.059 |
3 | 281111 | 0.058 |
3 | 131530 | 0.057 |
2 | 91000 | 0.056 |
Price($) | Vol. | No. |
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0.061 | 80889 | 1 |
0.062 | 248000 | 2 |
0.064 | 59166 | 3 |
0.065 | 130769 | 2 |
0.066 | 309592 | 2 |
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