Ernie Thrasher, the CEO and founder of Xcoal Energy & Resources, is said by KGL to be “one of the world’s most highly regarded resource industry operators, investors and developers, and a senior figure in international resources marketing and government affairs”.
Also putting in funds at a share price premium in the total $6.73 million raising is existing major KGL shareholder KMP Investments, an Indonesian firm.
The raising’s pricing was 40c per share.
The funding will bankroll KGL’s drilling in 2018, with a resource update from the Jervois copper project this year.
KGL raised $12.4 million last September in a raising that priced shares at 30c and which introduced we...