Advises Completion of Murchison Gold Sale for AU$15 Million
Brisbane, Feb 21, 2014 AEST (ABN Newswire) - KGL Resources Limited (KGL) advises that the sale of the Murchison Gold project has settled.
As announced in Dec 2013, KGL has received cash consideration of $15 million for the West Australian gold project.
In addition to using the funds to continue the exploration and development of the Jervois copper project in the Northern Territory, KGL has contributed $1 million, on top of the $3million paid in 2013, to the creditors of Kentor Minerals (WA) Pty Ltd via the Deed of Company Arrangement (DOCA) fund. This has finalised all KGL's obligations under the DOCA.
About KGL Resources Ltd
KGL Resources (ASX:KGL) is an Australian mineral exploration company focussed on increasing the high grade Resource at the Jervois Copper-Silver-Gold Project in the Northern Territory and developing it into a multi-metal mine.
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