KGL raising cash for $8M drilling program

COPPER hunter and would-be miner KGL Resources has launched a A$7.7 million capital raising to support its work at the greater Jervois project in the Northern Territory, with key backers paying a premium to get in on the action.

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Jervois drilling should continue for another six months.

It has closed a placement to raise $5.7 million with existing major shareholders KMP Investments and RCF Opportunities Fund and others at 38c per share, a 12.

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