Kingsland Minerals’ Oversubscribed SPP Fuels Leliyn Graphite Ambitions
Kingsland Minerals has successfully closed an oversubscribed Share Purchase Plan, raising A$543,000 to advance its Leliyn Graphite Project and exploration efforts.
- Oversubscribed Share Purchase Plan raising A$543,000
- 4.53 million new shares issued at A$0.12 each
- Major shareholders Quinbrook and Bacchus Resources increased stakes
- Funds to support Leliyn Graphite Project and working capital
- Total shares on issue now exceed 84.5 million
Strong Shareholder Backing
Kingsland Minerals Ltd (ASX – KNG) has confirmed the successful completion of its recent Share Purchase Plan (SPP), which attracted applications exceeding the initial target. The company raised A$543,000 through the issuance of 4,525,000 new shares priced at A$0.12 each, matching the price set in a prior private placement. This strong support from shareholders underscores confidence in Kingsland’s strategic direction, particularly its flagship Leliyn Graphite Project in the Northern Territory.
Capital Raising in Context
The SPP follows a positive scoping study announced in September 2025, which highlighted the economic potential of the Leliyn deposit, one of Australia’s largest graphite resources. Alongside the SPP, Kingsland recently completed a private placement that saw two of its largest shareholders, Quinbrook Asset Management and Bacchus Resources, increase their stakes to 19% and 10% respectively. Quinbrook’s participation remains subject to shareholder approval at the upcoming Annual General Meeting scheduled for late November.
Funding Future Growth
The proceeds from the SPP and placement will be directed towards advancing exploration and development activities at Leliyn, as well as supporting working capital requirements. With a total of 84.56 million shares now on issue, Kingsland is better positioned to progress its projects without immediate capital constraints. Managing Director Richard Maddocks expressed gratitude to shareholders and reaffirmed the company’s commitment to unlocking the value of its graphite assets.
Looking Ahead
While the capital raising strengthens Kingsland’s financial footing, the market will be watching closely for the outcome of Quinbrook’s shareholder approval and subsequent project milestones. The company’s broader portfolio, including uranium and nickel prospects, adds further optionality but remains secondary to the graphite focus for now.
Bottom Line?
Kingsland’s oversubscribed SPP signals strong investor faith as it pushes forward with graphite development.
Questions in the middle?
- Will Quinbrook’s increased stake receive shareholder approval at the AGM?
- How soon will Kingsland advance Leliyn towards production following this funding?
- What impact will the evolving shareholder structure have on company strategy?
