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Kin Mining NL

Kin Mining director adds to shareholding, brings total to more than 800,000 shares

The company recently repaid all but US$1 of a senior secured credit facility with Sprott as it moves towards a development decision at the Leonora Gold Project.

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Leonora is about 750 kilometres northeast of Perth

Kin Mining NL (ASX:KIN) non-executive director Brian Dawes has increased his stake in the gold-focused company through an indirect on-market purchase of 300,000 ordinary shares.

The transaction was made at a price of 8.11 cents a share for a total value of $24,330, increasing Dawes’ total shareholding to 805,655 shares.

 

Kin is developing the Leonora Gold Project about 750 kilometres northeast of Perth, where it has intersected substantial and broad gold mineralisation in first-phase diamond drilling.

Highlighted results from the Lewis prospect were: 19.9 metres at 1.84 g/t gold from 17.4 metres; 32.4 metres at 1.16 g/t from 39.6 metres; and 37.2 metres at 1.04 g/t from 51.4 metres.

All drill holes intersected significant gold intervals associated with sulphide mineralisation in a variety of geological styles.

While providing further geological insights, the results demonstrate a pathway for an upgraded mineral resource estimate at Lewis, as well as a simplified Lewis pit and incorporation into the Cardinia process plant design.

Quick facts: Kin Mining NL

Price: $0.04

Market: ASX
Market Cap: $19.33 m
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