ASX:KGL

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KGL Resources Receives $16 Million First Tranche Payment Under Wheaton Precious Metals Agreement; Shares Up 11%

KGL Resources (ASX:KGL) received payment of the first tranche of $16 million under a precious metals purchase agreement with Wheaton Precious Metals, comprising upfront consideration of $275 million and an additional contingent deposit of $25 million under a cost overrun facility, according to a Thursday Australian bourse filing.The company said it had a cash balance of about AU$5.5 million as of May 31, with available cash of about AU$28 million following receipt of the first tranche of the early deposit, the filing added.The company's shares rose past 11% in recent Thursday trade.

ASX:KGL

Asia54d ago

KGL Resources' Baseline Model for Northern Territory Project Confirms 'Attractive Economics'

KGL Resources' (ASX:KGL) baseline economic model for its Jervois copper-silver-gold project in the Northern Territory confirmed "attractive economics" and offered a basis for project financing and the start of development, according to a Friday filing with the Australian bourse.Results of the baseline economic model show a pre-tax net present value of about AU$1.23 billion, a pre-tax internal rate of return of 37%, and an average steady state operating cash flow of AU$260 million per year, according to the filing.Additionally, the project's construction capital cost estimate is AU$439 million, and its additional mining and sustaining capital forecast is AU$290 million, which would be funded from cash flow generated during operations, the company said.Shares of KGL Resources were down 2% in recent Friday trade.

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