Media ReleasesKingston Resources

View All Kingston Resources News


Kingston Resources - Quarterly Activities Report


Mineral Hill Mine, NSW 

* Acquisition of the Mineral Hill Mine (Cobar, NSW) completed on 17 January 2022.
* Gold and silver production for the quarter totalled 1,757koz Au and 3,378koz Ag.
* Tonnes processed for the quarter totalled 159,205kt, with throughput at or above nameplate in March.
* Recoveries continued to ramp up through the quarter, reaching 87% of target levels in March.
* Exploration and development program is underway to establish mine production following completion of the tailings processing operation.
* Drilling through the quarter targeted the Pearse North and SOZ deposits, with first results from Pearse North being reported in April, delivering high-grade gold intercepts including:
-- 39m @ 4.19g/t Au and 37g/t Ag from 37m 

Misima Gold Project, PNG

* Major DFS engineering packages, test work and mine design finalised during the quarter, with final project estimating, execution planning and financial modelling nearing completion.
* Updated Misima Ore Reserve estimate finalised and released in conjunction with the completion of the DFS.
* Independent studies for the Environmental and Social Impact Assessment (ESIA) largely complete, with work advancing on finalising the full ESIA report for submission.
* Studies required for the Mining Licence (ML) Application are also nearing completion, with submission anticipated alongside the ESIA.  

Corporate

* Quarter-end cash balance of $10.8 million.
* During the quarter, Kingston replaced the Mineral Hill environmental bond ($3.5 million) and paid the cash consideration for Mineral Hill ($1.4 million).
* Exploration and development expenditure for the quarter totalled $3.5m. 

For more information, download the attached PDF.

Download this document

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.