Kingston Resources Ltd (ASX:KSN) has appointed ICA Partners to support a strategic review of the Misima Gold Project in Papua New Guinea following the conclusion of a definitive feasibility study (DFS) for the asset.
Kingston has designed the review to assess all opportunities to maximise shareholder value from Kingston’s 100% interest in the project.
The review will be conducted in parallel with mining licence and environmental and social impact assessment work programs, expected to be completed in the third quarter.
Review to assess long-term value opportunity
“The board, in consultation with ICA Partners, looks forward to investigating opportunities to advance the company’s interest in Misima by identifying, evaluating and entering into potential strategic transactions relating to the long-term value opportunity at Misima,” Kingston Resources managing director Andrew Corbett said.
“We look forward to working on this exciting review and we are confident that there are strategic opportunities to advance the Misima Gold Project but more importantly to achieve significant value creation for our shareholders.”
ICA Partners is a specialist mining advisor firm said to have wide-ranging transactional experience gained over many years in multiple commodities and jurisdictions, and maintains widespread relationships across global corporate and capital markets.
About Misima
Misima hosts a JORC-compliant resource of 3.8 million ounces and an ore reserve of 1.73 million ounces.
It was operated as a profitable open pit mine by Placer Pacific between 1989 and 2001, producing more than 3.7 million ounces before it was closed when the gold price was below US$300/ounce.