Kin Mining ASX:KIN

B

BIGGRIN

Member
This company took over of Navigators properties when they went under a couple of years ago.

The sharks currently circling this one increased my interest (external gang trying to take control). They obviously see value. I don't think they'll succeed.

An experienced management team with skin in the game and a lean share register for an ASX tiddler. This is unusual. I think they're the real deal.

The recent CEO Letter to Shareholders is a good intro to this company.

Its on my watch list.

Cheers

BG
 
BIGGRIN said:
This company took over of Navigators properties when they went under a couple of years ago.

The sharks currently circling this one increased my interest (external gang trying to take control). They obviously see value. I don't think they'll succeed.

An experienced management team with skin in the game and a lean share register for an ASX tiddler. This is unusual. I think they're the real deal.

The recent CEO Letter to Shareholders is a good intro to this company.

Its on my watch list.

Cheers

BG
Click to expand...


A big announcement today " Kin makes Spectacular Primary Gold Discovery at Lewis".

Hop onto Hotcopper and have a read of the threads. Tight share register. Frugal management. Highly prospective country. Positive PFS with margin. Drill bit showing the way.

This is going to to big.

Cheers

BG
 
Fully Funded to Decision to Mine After Raising $10m

Possible they will get into production with 250m FD shares on issue and a nice 50k+ production profile.

Have a read of their most recent announcements. I still don't think 'Mr Market' is fully aware of the story that is unfolding here.

Drilling results not to far off, again.
 
KIN daily chart. Next drill results due shortly.

KIN_daily_3june2017.png
 
Kin has successfully executed a binding term sheet for A$35m with Canadian based Sprott Private Resource Lending. The A$35m debt package will support the full pre-production and construction cost of Kin’s 100% owned Leonora Gold Project.


Forecast to be in production in the second half 2018.



Key terms include:

· First payback is expected 18 months after first drawdown (expected 28 June 2019)

· Annual interest rate of 8.00%, plus the greater of US 12-month

LIBOR or 1.00%

· No cashflow sweep

· No hedging

· No cost overrun facility

· 3,500,000 KIN ordinary shares will be issued to Sprott on close with the shares to be escrowed for 4 months

· 1.5% NSR on first 100,000oz gold produced by the LGP

· 3-year loan term
 
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