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Kin relocates Lawlers gold plant, transfers remaining assets to Gold Fields - Proactive Investors Australia

Thursday, 11 June 2020

Kin is looking forward to the next phase of its exploration-driven strategy with drilling set to resume later this month.

Gold Fields has released Kin from all future obligations in relation to the Lawlers assets

Kin Mining NL (ASX:KIN) has recovered all items from the Lawlers gold processing plant that it wanted to recover for potential future use at its wholly-owned Cardinia Gold Project (CGP) near Leonora in Western Australia.

The company dismantled and relocated the items during the March 2020 quarter, before COVID-19 restrictions stopped all further work at the site owned by Gold Fields Limited (NYSE:GFI).

Following talks with Gold Fields, it has been agreed that Kin will transfer title in all remaining assets at Lawlers back to Gold Fields in exchange for a full release from all further obligations to dismantle and remove the remaining assets.

Drilling to resume this month

Kin Mining managing director Andrew Munckton said: "Having already relocated all the items of the processing plant that Kin required from the Lawlers plant, we are pleased that Gold Fields will now take responsibility for dismantling and recycling all of the remaining items as part of rehabilitation operations at their Agnew gold mine.

"This marks the completion of that chapter in Kin's history and we are looking forward to the next exciting phase of our exploration-driven strategy with drilling set to resume later this month."

The Lawlers Processing Plant was acquired from Agnew Gold Mining Company Pty Ltd (Gold Fields) in June 2017 as part of its original development plan for the CGP.

Key elements of the plant were used by Como Engineers as part of its design of the Cardinia facility in the August 2019 pre-feasibility study.

Since then, Kin has been pursuing a successful exploration-focused strategy at the CGP.

The CGP has a 945,000-ounce gold resource defined in both oxide and deeper primary mineralisation with considerable potential to grow this resource with further drilling.


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