KGL Resources Starts Preparatory Development at Northern Territory Project, Shares Up 3%

MT Newswires Live

Aug 19

KGL Resources (ASX:KGL) said preparatory development activities are underway at its Jervois copper project in the Northern Territory following completion of its AU$300 million equity raising, according to a Wednesday Australian bourse filing.

The company said a AU$36 million contract for a 180-person accommodation village and mine infrastructure has been executed with Northern Transportables, with geotechnical and exploration drilling underway on site.

An engineering, procurement and construction (EPC) contract with Sedgman is being finalized, and open-pit mining contractor selection is progressing, with a final investment decision targeted for the third quarter of the year and first sulphide mill feed and process plant commissioning targeted for the first half of 2028, the filing added.

The company's shares rose 3% in recent Wednesday trade.

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