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KGL RESOURCES LIMITED — Capital/Financing Update 2011
Dec 19, 2011
65179_rns_2011-12-19_5f6c875b-78bf-4e74-90f5-bcfb07e7d97b.pdf
Capital/Financing Update
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20 December 2011
Kentor Gol d (ASX: KG L ) is an Australian-b a sed, emer g ing midtier gold co m pany with a dvanced projects in Australia and the Kyrgyz Rep u blic. Formed in 1 998 and list e d on the ASX in 2 005, the Company expects to c ommence h i gh grade gold produ c tion at Burnakura in Western A u stralia in m id-2012, with potential additional goldcopper p r oduction fr o m the neighbourin g Gabanintha deposit. At Jervois in the Northern Territory, th e Company i s studying the feasibilit y of developing a large, high grade copper-silver resource with potenti a l for the pro d uction of gold and other base meta l s. In the Kyr g yz Republi c , Kentor Gold is rea d y to procee d with the development of the C o mpany’s 80% owned high grade, very low cost Andash Gold-Copp e r Project once site access h a s been obtained. A ndash is ta r geted to produce 70, 0 00 oz gold a nd 7,400 tonnes cop p er pa for an initial six years, wit h high pot e ntial for expansion.
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Update on Andash Gold-Copper Project
Kentor G old Limite d (“Kentor” o r “the Com p any”, ASX: KGL) is pleased to announ c e that a ge n eral village meeting was held in Kopure r Bazaar (th e village loc a ted near th e Andash P r oject) on the 16[t] [h] December 2011. Th e meeting w as attende d by the council of elders, t h e women’s c ommittee, t he youth c o mmittee, the initiative group that supp o rt the dev e lopment of Andash, membe r s of the su p ervisory co m mittee and other villag e rs. The meetin g was moder a ted by the C hairman of the village.
The un a nimous out c ome of the meeting wa s that a formal Kurulti (a traditional decisi o n making meeting) will b e held regarding the develo p ment of t h e Andash project. Represent a tives of govern m ent, parlia m ent, regional and prov i ncial administrations will be i nvited to at t end. The o ne item to b e consider e d at this meetin g is the gran t ing of a soc i al licence f o r the development of the Andash project.
Simon M ilroy, Kent o r’s Managi n g Director s aid, “It is pl e asing to see so m e formal recognition of the wo r k Kentor has been underta k ing in the community and we a n ticipate m o ving the Andash project for w ard with a full social lice n ce in the N e w Year”
New Government
A new g overning c o alition of f o ur parties w as formed over the weekend. These p a rties control approxima t ely 75% of t he seats in the l e gislative chamber. Th e new coalit i on has no m inated a prime m inister, Om u rbek Baba n ov, for ratif i cation by p a rliament on Wednesday.
Issued capital:
1,062.1 milli o n ordinary s h ares 63.6 million u nlisted optio n s
Market Capitalisation
19 Decemb e r. 2011: $111 million
| For furt her informa tion |
contac t: |
|---|---|
| Mr Simo n Milroy |
Mr. David Wate rhouse |
| Managin g Director |
Inve stor Relatio ns |
| Phone: (07) 3121 32 06 |
(03) 9670 5008 |
| info@ke ntorgold.com .au |
dwa terhouse@w aterhousei r.com.au |