(MENAFN- ProactiveInvestors)
() is providing shareholders with more time to participate in its Share Purchase Plan priced at $0.10 to raise up to $2 million.
On 31st July 2015 the company offered shareholders up to $3000 worth of shares under the SPP. This has now being extended to Friday 11th September 2015.
This includes one free attaching option exercisable at $0.20 and expiring on 31st August 2017 for every two shares subscribed.
Shares in the company last traded at $0.10.
Proceeds will be used to complete a pre-feasibility study over the Leonora Gold Project in Western Australia.
It will also be used for JORC 2012 compliant upgrades forthcoming as a result of the last 5 years of drilling campaigns conducted by the previous owners.
This involving about 15000 meters of infill and extensional drilling which do not form part of the current JORC 2012 compliant resources previously announced by Kin.
In addition funds will be used for infill and extensional drilling at Mertondale to define a Target of 1 million to 1.2 million ounces of gold resources along 10 kilometres of the Mertondale Shear Zone.
Proactive Investors Australia is the market leader in producing news articles and research reports on ASX emerging companies with distribution in Australia UK North America and Hong Kong / China.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.