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Kin Mining Drilling LGP Kyte Deposit

THE DRILL SERGEANT: Having got its Boardroom duck hierarchy in order, Kin Mining (ASX: KIN) announced it has resumed drilling at the company’s Leonora gold project (LGP) in Western Australia.

Kin Mining said an initial RC drilling program has been approved to extend the gold Resource at the Kyte orebody.

The Kyte deposit currently has an Indicated Resource of 21,000 ounces of gold and is presently open along strike in both directions and down dip.

A Definitive Feasibility Study determined Kyte to be positioned in the van of the company’s production schedule due to positive economics.

Because of this, Kin considers better defining the extent of mineralisation is a high priority.

The company said increasing the Resource at Kyte will enable it to provide greater flexibility within the mine plan.

The Kyte orebody has a stripping ratio of 2.7:1 with a C1 cash cost of $727 per ounce (AISC of $770 per ounce) and has a Resource to Reserve conversion of 86 per cent.

Kin indicated that mining the Kyte deposit early in the life of the LGP will assist in quickly paying back the debt facility.

This round of drilling will further explore the extensions to the south, as there are currently constraints to drilling to the north.

“We are excited to be getting back to drilling at the Leonora gold project and following up on the strong results that were delivered by our geology team in 2017,” Kin Mining acting managing director Trevor Dixon said in the company’s announcement to the Australian Securities Exchange.

“We are determined to grow our Resource base and to improve on our reserve conversions through 2018 as we ramp up to production.”

 

Email: info@kinmining.com.au

Website: www.kinmining.com.au

 

Kin Mining Appoints New Chairman

THE BOURSE WHISPERER: Kin Mining (ASX: KIN) announced the appointment of Jeremy Kirkwood to the company Board as independent non-executive chairman.

Once the music had stopped, Kin revealed current chairman Trevor Dixon, is to become interim managing director while the company looks to appoint a suitably qualified applicant for the role full-time.

After that has been accomplished Dixon will remain on the Board as a non-executive director.

Kin mining said Kirkwood’s appointment adds strength to the Board as the company moves towards production at its 100 per cent-owned Leonora gold project (LGP) located in the North-Eastern goldfields of Western Australia.

Kirkwood brings to the table extensive experience in corporate strategy, investment banking and global capital markets.

He is currently a principal of Pilot Advisory Group and non-executive chairman of Talisman Mining.

Previous roles include managing director at Credit Suisse, Morgan Stanley and Austock.

“I am pleased to join the Kin Board and honoured to be appointed chairman by my colleagues,” Kirkwood said in the company’s announcement to the Australian Securities Exchange.

“I believe the company has an exciting future with excellent assets, a near term, strongly cash generative project and strong growth prospects.

“The Board’s immediate focus is to develop the Leonora gold project, appoint a new managing director and generate shareholder value.”

Kin advised that David Sproule has resigned as a director of the company effective immediately.

 

Email: info@kinmining.com.au

Website: www.kinmining.com.au

 

Kin Mining Chairman Acknowledges Turmoil

CONFERENCE CALLER: Pitching the investment case for Kin Mining (ASX: KIN) at the 2018 RIU Explorers conference in Fremantle, chairman Trevor Dixon briefly alluded to the company’s recent struggles. By Jack Baker

“Kin Mining is currently going through some growing pains with its business and a lot of you may want to know about that,” was all he said on the recent resignation of the company’s former managing director Don Harper.

The Kin Mining board of directors accepted Harper’s resignation and on Tuesday announced a restructure of the board on the company’s website.

“The company is pleased to announce the appointment to the Board of Mr Brian Dawes as non-executive director,” it said in its ASX announcement.

“The company is also seeking to appoint an independent chairperson, and managing director as part of the restructure and is currently in discussions with suitably qualified applicants and subject to due process; the terms and conditions of these appointments will be advised in due course.”

Dixon will continue as chairman in the interim until a new chairperson and managing director can be appointed.

 

Email: info@kinmining.com.au

Website: www.kinmining.com.au

 

Kin Mining Approved to Commence LGP Plant Construction

THE BOURSE WHISPERER: Kin Mining (ASX: KIN) has secured all statutory approvals documentation for Phase 1 – Process Plant Construction to commence at the company’s 100 per cent-owned Leonora gold project (LGP) located in the North-Eastern goldfields of Western Australia.

Kin Mining said the regulatory sign off marks another important step towards gold production, forecast for the second half of 2018.

A Mining Proposal has been approved by the Department of Mines, Industry Regulation and Safety (DMIRS) and a Works Approval has been approved by the Department of Water and Environmental Regulation (DWER).

Kin reached an agreement with the regulators to conduct a phased approval process, which has resulted in the construction of the processing plant commencing earlier than would have been possible if it had to wait for final project mining parameters.

The company will lodge Phase 2 applications in this half of the year for the balance of activities required to commence gold production.

Kin Mining also confirmed all proposed mining operations and infrastructure locations relating to the construction, commissioning and gold production of the LGP are located on granted mining leases and granted miscellaneous licenses.

“Phase 1 Approval is a major milestone achievement by the Kin team,” Kin Mining managing director Don Harper said in the company’s announcement to the Australian Securities Exchange.

“Our focus is now on dismantling and relocating the Lawlers process plant and commencing construction of the LGP process plant.”

 

Email: info@kinmining.com.au

Website: www.kinmining.com.au

Kin Mining Finalises Ball Mill Acquisition

THE BOURSE WHISPERER: Kin Mining (ASX: KIN) exercised an option to acquire a 2.5 megawatt ANI-Ruwolt ball mill, CIL agitators and screens through the payment of $1.27 million to Macca-Interquip.

Kin Mining said the purchase completes the acquisition of necessary key equipment required for the development of the company’s Leonora gold project (LGP) in Western Australia, which currently under development.

Kin explained the purchase of the essential drive train components came with a few extras, including a spare motor, gearbox and pinion along with engineering details which will serve to reduce installation costs.

The ANI mill was last used at the Mt McClure gold operation in WA and is said to be in good condition with the six intertank screens and agitators being unused and in new condition.

The installation of the 2.5MW ball mill forms part of the upgrade of the Lawlers plant at the LGP, which Kin expects to provide single-stage primary grinding of the Cardinia ores at an annualised throughput rate of 1.5 million tonnes per annum.

“Kin has been very fortunate to secure this long lead equipment at a very competitive price,” Kin Mining managing director Don Harper said in the company’s announcement to the Australian Securities Exchange.

“Our construction team can now commence refurbishment work to ensure it can be installed according to the LGP development schedule.”

 

 

Email: info@kinmining.com.au

Website: www.kinmining.com.au