ASX-listed Kin Mining will raise A$3.1-million through a share placement and underwritten pro-rata non-renounceable entitlement offer to fund drilling at its Cardinia gold project, in Western Australia.
The company will raise some A$850 000 through a share placement, priced at 3.5c each, to two of its existing shareholders, while a further A$2.2-million will be raised through a one-for-eight non-renounceable entitlement offer, also priced at 3.5c a share.