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KGL Resources Launches AU$300 Million Equity Raise

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KGL Resources (ASX:KGL) launched a AU$300 million equity raising at AU$0.20 per share to complete the funding package for the Jervois project in the Northern Territory, according to a Thursday filing with the Australian bourse.

The equity raising includes an institutional placement of AU$180 million through the issue of roughly 902 million new shares, subject to shareholder approval, the filing said.

It also includes a 1-for-1.29 pro rata non-renounceable entitlement offer of AU$120 million through the issue of about 598 million new shares to eligible shareholders, per the filing.

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