Kingfisher Mining: Raise $4.25m for Gascoyne exploration

Kingfisher Mining Raise $4.25m for Gascoyne exploration

• Kingfisher Mining (KFM) is set to raise $4.25 million from private investors in its first capital raise since listing on the ASX in December 2020
• The company plans to issue 10 million shares at 42.5 cents to raise the funds, with the money to go towards rare earth elements exploration in WA’s Gascoyne region
• The company says this exploration work will build on successful discoveries already made in the area and will include drilling and geophysical survey work
• In addition to the placement, the company’s directors have committed to investing $270,000 in the company at the placement price, subject to shareholder approval
• Shares in the company are up 9.89 per cent and trading at 50 cents at 1:36 pm AEST