Kingston Resources appoints strategic adviser

Kingston Resources (ASX: KSN) has appointed Argonaut PCF Limited as the exclusive financial adviser for the Misima Gold Project in Papua New Guinea. The project is expected to produce an average of 130,000 ounces of gold annually over a 20-year lifespan. The company aims to capitalize on current high gold prices to enhance shareholder value.

Outlook on Kingston Resources' strategic plans

Kingston Resources has engaged Argonaut PCF to lead a strategic process for its Misima Gold Project, which holds a 3.8 million ounces gold resource. The 2022 DFS projected an NPV of A$956 million at a gold price of US$1,800 per ounce. With the current price at US$2,600 per ounce, Kingston sees an opportunity to maximize shareholder value. The company, which also produces gold and copper from the Mineral Hill mine, aims to become a mid-tier gold and base metals producer. Kingston is positioning itself to leverage high gold prices and Misima's exploration potential, having invested A$45 million in the project to date.

Executive insights on Kingston's strategic move

The appointment of Argonaut PCF is strategically timed to maximize the value of Misima amidst current gold price conditions. We are focused on leveraging these prices to accelerate development plans,' said Andrew Corbett, Managing Director & CEO.