Kin Mining and PNX Metals announce merger
Two months after it was first mooted, Kin Mining (ASX:KIN) and PNX Metals (ASX:PNX) are set to marry in an all-share union of mining's smaller players.
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Kin Mining Nl
Kin Mining NL (ASX: KIN) is a West Australian based gold development and exploration company. Kin’s key focus is its 100% owned Cardinia Gold Project (CGP) located in the highly prospective North-Eastern Goldfields region of Western Australia.
Prior to November 2019 Kin’s drilling has predominantly tested oxide and transitional zone mineralisation within and around the known prospects. Significant potential remains for deeper, higher-grade primary gold mineralisation in these areas and in the significant tenure surrounding the proposed CGP future plant site. The Company’s flagship project holds a resource of 945koz of gold as of February 2020. The Leonora–Laverton belt is an active gold mining region and already hosts several long life gold operations.
Kin’s current exploration program at the CGP will be focussed on exploring the large new zones of mineralisation recently identified in areas proximate to the CGP to build the resource available to the CGP.
At the same time Kin will keep its development options for the asset up to date with the current trends in gold price, operating costs and techniques
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Cost Blowout Halts Kin Mining
Shares in Kin Mining lost 40% of their value yesterday after the company called a halt to its $35 million Leonora gold mine because of cost overruns.
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