Kin Mining NL (ASX:KIN) has completed the allotment and issue of shares pursuant to its fully underwritten non renounceable 1:3 rights issue at 11 cents per new share.
READ: Kin Mining raising $11.3 million as drilling in Leonora continues to deliver high-grade gold
The allotment of 8,450,437 shares represents the final tranche of shares available under the rights Issue and the rights Issue is now closed.
Last week, Kin revealed positive results from drilling at the Helens Prospect, part of its Cardinia Gold Project in the Eastern Goldfields of Western Australia.
The Helens drilling program is focused on understanding the primary gold mineralisation below the Helens Main and Helens South open pits.
READ: Kin Mining’s drilling program at Helens strikes further gold mineralisation
Kin intersected consistent, primary mineralisation at Helens Main including:
• 9 metres at 1.7 g/t gold from 81 metres and 10 metres at 2.2 g/t gold from 122 metres; and
• 8 metres at 1.8 g/t gold from 154 metres.