Kingston Resources Limited (ASX: KSN) has announced that its fully underwritten non-renounceable rights issue, designed to raise approximately $8.47 million before costs, is now open. Kingston Resources Limited is an Australian mineral exploration and development company primarily focused on advancing its gold projects. The Entitlement Offer invites eligible shareholders to subscribe for new shares at $0.035 each, with funds earmarked for strategic development initiatives.
The Entitlement Offer allows eligible shareholders to subscribe for one new Kingston fully paid ordinary share for every four existing shares held as of the record date, 7:00pm (AEST) on Tuesday, 30 June 2026. The offer officially opened on Friday, 3 July 2026, and is scheduled to close at 5:00pm (AEST) on Tuesday, 14 July 2026, unless extended. The rights issue is fully underwritten by Argonaut Corporate Finance Limited. Shareholders with a registered address in Australia, New Zealand, Hong Kong, Singapore, and the European Union (excluding Austria) are eligible.
Proceeds from this Entitlement Offer, combined with existing cash, the recent $4.4 million placement, and deferred consideration from the Misima sale, are intended to finance key operational expenditures. These include an extensive 25,000-metre underground and surface drilling program aimed at updating Measured and Indicated Resources and pursuing high-priority exploration targets. Funds will also support studies for the expansion of the existing processing facility, with permits in place to increase processing rates up to 700ktpa, alongside redundancy and fleet demobilisation costs, care and maintenance, and general working capital.
Eligible shareholders are advised to carefully review the prospectus, released to the ASX on 25 June 2026, which provides full details on accessing personalised Entitlement and Acceptance Forms and participating in the offer. Queries can be directed to the company’s share registry.
