KGL Resources Limited (ASX: $KGL) has announced a proposed 4 for 15 pro-rata traditional non-renounceable entitlement offer of fully paid ordinary shares to raise up to approximately $15.1 million. The offer is not underwritten and is set to close at 5.00pm (Sydney time) on 25 July 2024. The company aims to utilize the funds for production positioning, extending the life of the Jervois Project, and conducting exploration at depth. Substantial Shareholder, KMP Investments Pte. Ltd., has committed to take up its entitlement in full. Shareholders have various options to participate in the offer, and payment can be made via BPAY or EFT.
The company's major shareholder, KMP Investments Pte. Ltd., has demonstrated confidence in the offer by committing to take up their entitlements in full, providing significant funding. The funds raised through this entitlement offer will play a crucial role in positioning the company for production, extending the life of the Jervois Project, and enabling exploration at depth. Shareholders are encouraged to carefully consider the offer and its implications in line with their investment objectives and circumstances.
KGL Resources Limited (ASX: $KGL) has announced a non-renounceable entitlement offer to raise up to approximately $15.1 million. The offer, not underwritten, aims to support the company's production positioning, extend the life of the Jervois Project, and facilitate exploration at depth. The commitment of the major shareholder, KMP Investments Pte. Ltd., to take up their entitlements in full provides a strong signal of confidence in the offer. Shareholders have been provided with detailed instructions and options to participate in the offer, including payment methods and key dates. The company faces challenges in sourcing exploration and mining equipment and contractors due to tight market conditions, and its operations are subject to various risks related to copper prices, exchange rates, and macro-economic factors. The announcement also includes important information on competent person disclosures, foreign selling restrictions, and additional considerations for investors.