Kairos Minerals Ltd managing director Dr Peter Turner talked with Proactive about the company’s strengthened balance sheet following the receipt of the second and final $10 million payment from PLS Group Ltd, a key milestone that lifts Kairos Minerals’ cash position to approximately $35 million.
Turner explained that the payment relates to a previously announced tenement sale agreement covering non-core ground surrounding the Mt York Gold Project in Western Australia. He noted that the transaction delivered a total of $20 million without shareholder dilution, calling it “a good deal for us” that also helped consolidate prospective ground around Mt York.
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