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Kin Mining finalising Cardinia PFS for release by mid-August

The company has implemented board changes with Nicholas Anderson and Hansjoerg Plaggemars appointed non‐executive directors

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Pending PFS results, Kin will proceed to the next phase of project assessment and development

Kin Mining NL (ASX:KIN) expects to release a pre-feasibility study (PFS) for the Cardinia Gold Project in Western Australia within the next few weeks.

The company has received all reports from external consultants working on the PFS and is in the process of final review and compilation.

Once this work is complete and a thorough review undertaken by the company's new non-executive directors, a summary of PFS outcomes will be released and this is expected in the first half of August.

READ: Kin Mining upgrades Cardinia gold resource ahead of pre-feasibility study results

Shares have been up as much as 20% to an intra-day high of 8.6 cents.

Kin has implemented the appointment of Nicholas Anderson and Hansjoerg Plaggemars as non-executive directors.

These changes came after discussions between the board and a number of major shareholders, two of which requested representation on the Kin board.

The restructure ensures the board has an appropriate number of directors and blend of skillsets.

READ: King Mining will use $2.1 million placement funds to finalise Cardinia gold PFS

On June 18, Kin raised $2.1 million in a placement to fund the finalisation of the Cardinia PFS and which was well supported by existing sophisticated shareholders.

The placement of 42 million shares was completed at a price of 5 cents per share and shares will be issued under the company’s rule 7.1 capacity.

Kin managing director Andrew Munckton said: “We continue to be encouraged by the support of our major shareholders.

“The additional funding puts Kin in a stronger financial position to finalise the pre-feasibility study for the Cardinia Gold Project and commence the next phase of project assessment and development work.”

Quick facts: Kin Mining NL

Price: 0.035 AUD

ASX:KIN
Market: ASX
Market Cap: $19.99 m
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