- KGL Resources (KGL) has completed a non-renounceable entitlement offer and raised over $9.5 million
- On February 22, the company revealed it had completed a $12 million strategic placement and was looking to raise up to $11.77 million via an entitlement offer
- All up, nearly 23 million shares taken up, representing a take-up of roughly 81.3 per cent
- KGL previously stated it would use the funds from both the placement and entitlement offer to enhance its Jervois Copper Project
- In particular, the company will optimise mine planning, undertake financing and complete a mine study
- KGL has ended the day in the grey with shares trading at 71 cents
