Kingsgate Consolidated Corrects Debt Figures

Kingsgate Consolidated Limited (AU:KCN) has released an update.

Kingsgate Consolidated Limited has issued a correction to its financial debt figures, revealing an increase from the initially reported A$53.6m to A$72.8m, due to the inclusion of preference shares and a transcription error. The corrected debt now accounts for A$11.4m in preference shares from its subsidiary Akara Resources, recognized as debt under Australian accounting standards, and an additional A$7.8m adjustment. These updated figures have been incorporated into revised corporate presentations available on the company’s website.

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