Rights Issue Underwritten as Kuniko Advances Drill-Ready Commonwealth Gold-Silver JV
Kuniko Limited has executed a binding earn-in and joint venture agreement to acquire up to 70% of the Commonwealth Gold-Silver Project in NSW, backed by a rights issue to fund exploration and drilling. The project offers significant resource potential in a Tier-1 jurisdiction with existing inferred mineral resources.
- Binding earn-in JV agreement with Impact Minerals for up to 70% ownership
- JORC Inferred Mineral Resources at Commonwealth and Silica Hill deposits
- 1-for-3 non-renounceable rights issue at A$0.07 per share to fund Stage-1 work
- GBA Capital appointed Lead Manager and expected Underwriter for rights issue
- Drill-ready project with permits and landholder agreements in place
Strategic Acquisition in a Tier-1 Jurisdiction
Kuniko Limited (ASX, KNI) has taken a significant step forward in its growth strategy by executing a binding earn-in and joint venture agreement with Impact Minerals (ASX, IPT) to earn up to 70% of the Commonwealth Gold-Silver Project in New South Wales. Located within the highly prospective Lachlan Fold Belt, this project offers exposure to a well-established precious and base metals system, with existing JORC (2012) Inferred Mineral Resource Estimates at both the Commonwealth and Silica Hill deposits.
The Lachlan Fold Belt is renowned for hosting world-class mining operations, and Kuniko’s entry into this region aligns with its focus on Tier-1 jurisdictions that support long-term value creation. The project’s geology is compelling, featuring a high-sulphidation volcanogenic massive sulphide (VMS) and epithermal system with significant gold, silver, zinc, lead, and copper mineralisation open along strike and at depth.
Funding the Next Phase, Rights Issue and Underwriting
To fund the initial Stage-1 technical work and meet earn-in obligations, Kuniko has launched a 1-for-3 non-renounceable rights issue priced at A$0.07 per share, accompanied by free attaching options exercisable at A$0.14. The offer closes on 12 September 2025, providing existing shareholders an opportunity to participate in the company’s growth trajectory.
GBA Capital has been appointed as Lead Manager and is expected to act as Underwriter for the rights issue, which will be partially underwritten. This arrangement is designed to provide financial certainty as Kuniko advances its exploration plans. The company’s shares remain in trading halt pending the execution of the underwriting agreement, anticipated imminently.
Drill-Ready with Near-Term Catalysts
One of the standout features of the Commonwealth Project is its drill-ready status. Permits and landholder access agreements are already secured, enabling rapid mobilisation once funding is in place. The initial focus will be on refining drill designs targeting a conductivity anomaly beneath the Commonwealth deposit and high-grade silver-gold shoots at Silica Hill.
Historical drilling has intersected impressive grades, including intervals such as 5.7 meters at 3.8 g/t gold and 347 g/t silver at Commonwealth, and 22.5 meters at 1.7 g/t gold and 276 g/t silver at Silica Hill. These results underscore the potential for resource expansion and discovery of new mineralised zones within the project area.
Broader Portfolio and Strategic Alignment
Beyond the Commonwealth Project, Kuniko’s portfolio includes battery metals projects in Europe, such as the Ertelien Nickel-Copper-Cobalt Project in Norway, and other strategic mineral assets aligned with the global energy transition. The company emphasizes ethical sourcing and responsible development, with a commitment to low-carbon operations and alignment with the United Nations Sustainable Development Goals.
CEO Antony Beckmand highlighted the strategic importance of the Commonwealth acquisition, noting silver’s critical role in clean energy technologies and gold’s enduring value. The project’s location in a Tier-1 jurisdiction with existing resources and infrastructure positions Kuniko well for the next phase of exploration and growth.
Bottom Line?
Kuniko’s acquisition and capital raise set the stage for a pivotal exploration campaign in a world-class mining district, with early drilling results poised to shape its future trajectory.
Questions in the middle?
- Will Kuniko’s Stage-1 drilling confirm and expand the existing inferred resources at Commonwealth and Silica Hill?
- How will the partial underwriting of the rights issue impact investor confidence and capital raising success?
- Could deeper porphyry copper-gold targets beneath the known deposits unlock a larger mineralised system?
