Kingsgate Consolidated Completes $46m placement
- Kingsgate (KCN) completes a $46 million institutional placement to fund the commissioning of its Thailand assets
- Under the placement, the company will issue 30.7 million new fully paid ordinary shares at $1.50 per share
- The company has also launched a $10 million share purchase plan, allowing shareholders to subscribe for up to $30,000 worth of shares at the same price
- The proceeds will go toward Kingsgate’s Gold Plant 2 commissioning and working capital costs, as well as its US$15 million Taurus bridge facility repayment
- KCN shares closed 25.37 per cent lower at $1.50 on Friday afternoon
