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Kingston Resources Halts Pearse South Pit and Raises $11.6 Million for Underground Drilling
10:23am on Thursday 11th of June, 2026 AEST
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Mining
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Kingston Resources Halts Pearse South Pit and Raises $11.6 Million for Underground Drilling
10:23am on Thursday 11th of June, 2026 AEST
Key Points
Pearse South open pit mining ceased due to ramp failure and poor ore recovery
Company pivots to 25,000m underground and near-mine drilling program
Approximately 120 redundancies and contractor losses announced
Capital raising of $11.6 million at 19% discount to fund exploration and costs
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Kingston Resources (ASX:KSN)
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