Kin Mining NL is a recently successfully listed (October 2013) Australian based resource company (ASX,KIN). Recent acquisitions include the Leonora Gold Project, containing a gold inventory in excess of 1 Moz.
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Kin Mining NL (“Kin”, “the Company”, ASX:KIN) was listed on the ASX on 2 October 2013 with six projects in the Leonora district of the Northeastern Goldfields of Western Australia. The focus is on gold, nickel‐copper‐platinumgroup metals (PGMs) and base metals exploration.
In late 2014, the Company acquired the Leonora Gold Project from the Administrator of Navigator Resources. This provided Kin with an immediate gold resource base as well as significant exploration upside. The Company plans to target near‐term cash flow through the exploitation of two shallow open pits as part of a longer term objective of establishing a more substantial gold operation at Leonora.
Significant Achievements In A Short Time Frame
The Company has been listed on the ASX for less than two years and has achieved significant milestones in that brief period of time:
Following on from above, the Company has identified an opportunity for securing early cash flow through the mining and treatment (vat leaching) of shallow material from two ‘starter pits’ at Lewis, within the larger 120,000oz Bruno‐Lewis resource at Cardinia. The estimated upfront capital of $1m is low. Historic metallurgical test work indicates gold recoveries of +70%on coarse material. Free dig, shallow supergene ore should account for an inexpensive operating cost of around $750/oz.
If the Company can meet its production and operating cost targets, even the first phase should generate excess cash. More importantly, the infrastructure would be in place for a phased expansion of more easily accessible material. Funding is in place and pit optimisation and metallurgical test work are well advanced.
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Official website: http://www.kinmining.com.au/
ASX on Hotcooper: http://hotcopper.com.au/asx/KIN