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109.15
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Kingsgate Consolidated (ASX: $KCN) defers TAFTA award ratification

Kingsgate Consolidated provides TAFTA update


Kingsgate Consolidated Limited (ASX: $KCN) has announced a joint agreement with the Kingdom of Thailand to defer the Arbitral Award under the Thailand-Australia Free Trade Agreement (TAFTA) until 30 June 2024. The Company expects the award to be ratified by the Tribunal shortly. The deferral is due to a number of items agreed to by the previous government's negotiating committee that are yet to be completed. Despite this, Kingsgate remains focused on restoring the Chatree Gold Mine to full operating capacity early this year.

Executive Chairman's Commentary on TAFTA Update


Kingsgate Consolidated's Executive Chairman, Ross Smyth-Kirk OAM, expressed the Company's satisfaction with the joint agreement to defer the Arbitral Award under TAFTA. Smyth-Kirk emphasized the importance of completing the outstanding items agreed to by the previous government's negotiating committee. He reaffirmed the Company's commitment to restoring the Chatree Gold Mine to full operating capacity early in the year, highlighting that it is business as usual for Kingsgate.

Summary of TAFTA Update


Kingsgate Consolidated Limited (ASX: $KCN) has reached a joint agreement with the Kingdom of Thailand to defer the Arbitral Award under the Thailand-Australia Free Trade Agreement (TAFTA) until 30 June 2024. The Company anticipates the award to be ratified by the Tribunal shortly. The deferral is attributed to incomplete items agreed to by the previous government's negotiating committee. Despite this delay, Kingsgate remains resolute in its objective to restore the Chatree Gold Mine to full operating capacity early this year. The Company's unwavering focus on this goal reflects its commitment to its operational activities and the TAFTA proceedings.

Sourcehttps://announcements.asx.com.au/asxpdf/20240103/pdf/05z3zn2m2y791m.pdf

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