Kingsland’s Funding and Leadership Changes Signal Key Project Risks
Kingsland Minerals has raised $1.6 million through a share placement, with major shareholders increasing stakes, and appointed a new chairman as it prepares to start a pre-feasibility study at its Leliyn Graphite Project.
- Raised $1.6 million via placement of 13.28 million shares at $0.12 each
- Major shareholders Quinbrook Infrastructure Partners and Bacchus Resources increasing stakes to 19.99% and 10%
- Share Purchase Plan launched to raise up to $500,000 at the same price
- Appointment of Anthony Latimer as independent non-executive chairman
- Funds earmarked for commencement of pre-feasibility study at Leliyn Graphite Project
Capital Raise and Shareholder Support
Kingsland Minerals Ltd (ASX, KNG) has successfully secured $1.6 million through a placement of over 13 million shares priced at $0.12 each. This capital injection comes with strong backing from the company’s two largest shareholders, Quinbrook Infrastructure Partners and Bacchus Resources, who have committed to increasing their stakes to 19.99% and 10% respectively, pending shareholder approvals. This move signals robust confidence in Kingsland’s strategic direction and the potential of its flagship Leliyn Graphite Project.
Share Purchase Plan to Engage Existing Investors
Alongside the placement, Kingsland is offering a Share Purchase Plan (SPP) to eligible shareholders, aiming to raise an additional $500,000 at the same $0.12 share price. The SPP allows shareholders to purchase up to $30,000 worth of shares without brokerage fees, providing an accessible opportunity to participate in the company’s growth. While the SPP is not underwritten, the participation of Kingsland’s directors in the plan underscores their commitment to the company’s future.
Governance Strengthened with New Chairman Appointment
In a governance update, Kingsland has appointed Anthony Latimer as its independent non-executive chairman, effective 1 October 2025. Latimer brings four decades of corporate and commercial legal expertise, particularly in sectors relevant to Kingsland such as mining and energy. His extensive experience with mergers, acquisitions, and corporate governance is expected to complement the board’s capabilities as the company advances its development plans.
Advancing the Leliyn Graphite Project
The fresh capital positions Kingsland to commence a pre-feasibility study for the Leliyn Graphite Project in the Northern Territory. Leliyn is one of Australia’s most significant graphite deposits, boasting an indicated mineral resource of 12.3 million tonnes at 7.9% total graphitic carbon and inferred resources of 180.2 million tonnes at 7.2%. The pre-feasibility study will be a critical step in assessing the project’s economic viability and potential pathways to production.
Looking Ahead
With funding secured and governance bolstered, Kingsland is well-positioned to progress its graphite ambitions. The company’s focus on delivering the pre-feasibility study will be closely watched by investors eager to see how Leliyn’s promising resource translates into tangible development milestones.
Bottom Line?
Kingsland’s capital raise and new chairman appointment set the stage for a pivotal phase in advancing the Leliyn Graphite Project.
Questions in the middle?
- Will shareholder approvals for major stake increases be secured without delay?
- How quickly can Kingsland deliver the pre-feasibility study and what might it reveal about project economics?
- What impact will the new chairman have on Kingsland’s strategic direction and investor confidence?
