KGL Resources Limited ( (AU:KGL) ) has shared an update.
KGL Resources Limited has announced an equity raising initiative to generate approximately $7.7 million through a 1 for 8 pro-rata non-renounceable entitlement offer of new shares. The offer, priced at $0.095 per share, is not underwritten and requires a minimum raise of $3 million. KMP Investments Pte. Ltd., a substantial shareholder, has committed to fully subscribing to its entitlement, which could potentially increase its voting power depending on the uptake by other shareholders. The offer is structured to maintain the current control dynamics of the company, with negligible impact on its overall control if all eligible shareholders participate.
More about KGL Resources Limited
KGL Resources Limited operates in the mining industry, focusing on the exploration and development of mineral resources. The company primarily deals with the extraction and processing of metals, with a significant emphasis on copper projects.
YTD Price Performance: -8.33%
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: $40.51M
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