Kingsgate Consolidated's TAFTA Update

Kingsgate Consolidated Limited (ASX:KCN) has announced the extension of the holding period for the arbitral award under the Thailand-Australia Free Trade Agreement (TAFTA) until 30 September 2025. This extension is the result of mutual agreement with the Kingdom of Thailand and follows recent political developments in Thailand, including the appointment of a new Prime Minister and a new Mining Minister.

Executive Commentary on TAFTA Update

Kingsgate remains actively engaged with Thai government officials and is optimistic about achieving a beneficial outcome for both parties. The extended timeframe of 12 months is deemed appropriate to allow the new government to take shape and to provide sufficient time to pursue a mutually satisfactory resolution of the outstanding issues. Furthermore, the extension of the holding period of the arbitral award does not impact the continued ramp up of the Chatree Gold Mine.

Summary of Kingsgate Consolidated's TAFTA Update

Kingsgate Consolidated Limited (ASX:KCN) has extended the holding period for the arbitral award under the Thailand-Australia Free Trade Agreement (TAFTA) until 30 September 2025. The extension, agreed upon with the Kingdom of Thailand, is a result of recent political developments in Thailand. Kingsgate remains optimistic about achieving a beneficial outcome and is actively engaged with Thai government officials. The extension does not impact the continued ramp up of the Chatree Gold Mine. The company's TAFTA claim stems from the closure of the Chatree Gold Mine in 2016, and the subsequent legal proceedings initiated by Kingsgate seeking damages under TAFTA for Thailand's breach of the agreement. The extension of the holding period provides an opportunity for the new government to take shape and pursue a mutually satisfactory resolution of the outstanding issues.