- Kingston Resources (KSN) enters trading halt as it plans an upcoming capital raise
- It is currently unknown how much the company is planning to raise, but it did give a hint that there is an upcoming acquisition
- The trading halt means company shares will be paused until Thursday, November 18
- Kingston is a gold development and exploration company, with projects in PNG and Western Australia
- On the market, Kingston last traded at 23.8 cents per share
Kingston Resources (KSN) has entered into a trading halt as it plans an upcoming capital raise.
So far, it is unknown how much the company is planning to raise, but it did give a hint that there is an upcoming acquisition.
Under the halt, company shares will be paused until Thursday, November 18, or when more details about the raise and acquisition is released.
Kingston is a gold development and exploration company, with projects in PNG and Western Australia.
The company recently announced an upgrade to the mineral resource estimate at its Misima Gold Project in Papua New Guinea.
The indicated ounces have been increased by 39 per cent and the indicated tonnes have increased by 43 per cent.
The project’s indicated resource stands at 97.7 million tonnes at 0.79g/t and 4.3g/t silver for 2.5 million ounces of gold and 13.4 million ounces of silver.
This takes the total resource to 169 million tonnes at 0.71g/t gold and 4.1g/t silver for 3.8 million ounces of gold and 22.1 million ounces of silver.
On the market, Kingston last traded at 23.8 cents per share.