https://newsletter.en.creamermedia.com
Copper|Exploration|Gold|Mining|PROJECT|Resources|Drilling
Copper|Exploration|Gold|Mining|PROJECT|Resources|Drilling
copper|exploration|gold|mining|project|resources|drilling

Kingston sells PNG project for $95m

20th May 2025

By: Creamer Media Reporter

     

Font size: - +

ASX-listed Kingston Resources has struck a binding agreement to divest its Misima gold project, in Papua New Guinea, to Ok Tedi Mining for $95-million.

The transaction includes $50-million payable on completion, $10-million 12 months post-completion, a further $10-million upon a final investment decision to develop Misima, and a 0.5% gross revenue royalty on gold production exceeding 500 000 oz, with a $25-million royalty buyback option for Ok Tedi.

Kingston will use the proceeds to repay its A$15-million debt facility in full, realise cost savings, and intensify its focus on exploration and expansion studies at Mineral Hill copper/gold project, in New South Wales.

“This deal will deliver Kingston up to $70-million in cash, plus future royalties, unlocking significant value for our shareholders,” said MD Andrew Corbett. “We retain 100% ownership of Mineral Hill and are excited to target copper production in 2026.”

Kingston plans to ramp up drilling across brownfield targets such as Parker’s Hill, Jack’s Hut, and EOZ, while also advancing regional targets along the highly prospective Mineral Hill Trend. The company expects the strengthened balance sheet will also allow it to pursue further Australian copper and gold growth initiatives. 

Edited by Creamer Media Reporter

Comments

Showroom

Werner South Africa Pumps & Equipment (PTY) LTD
Werner South Africa Pumps & Equipment (PTY) LTD

For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...

VISIT SHOWROOM 
Weir
Weir

Weir is a global leader in mining technology. We recognise that our planet’s future depends on the transition to renewable energy, and that...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine video image
Magazine round up | 20 June 2025
20th June 2025
Powerfleet GM – Africa Retail Ryan Colyn tells Engineering News that South Africa presents unique challenges in vehicle safety and fleet management
Powerfleet Retail drives innovation and safety in mobility
19th June 2025

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.182 0.27s - 186pq - 2rq
Subscribe Now