InvestSMART

Kuniko Limited (ASX:KNI)

ALERT: Price-sensitive ASX Announcement for KNI
Current share price for KNI : $0.025 -0.05 (-66.67%)+
Announcement
Release
4 Sep 2025 9:21AM
Price at Release
$0.075
Full Release
download
Summary
Kuniko Limited has entered into a binding Earn-in and Joint Venture Agreement with Impact Minerals to earn up to 70% of the Commonwealth Gold-Silver Project in New South Wales through a staged investment totalling A$3 million over four years. The project is situated in the resource-rich Lachlan Fold Belt and encompasses the Commonwealth and Silica Hill deposits with significant inferred resources of gold and silver. Kuniko will manage the project during the earn-in phase and intends to advance exploration with existing drilling approvals. Funding is being secured through a rights issue managed by GBA Capital, which is also set to underwrite the offering. This strategic acquisition aligns with Kuniko's emphasis on developing Tier-1 jurisdiction assets and leveraging the project's geological potential.
Key Points
  • Kuniko Limited has executed a binding Earn-in and Joint Venture Agreement with Impact Minerals to secure up to a 70% stake in the Commonwealth Gold-Silver Project in New South Wales.
  • The agreement involves a two-stage earn-in process, with the first stage requiring an investment of A$1.5 million for a 51% stake within two years and a further A$1.5 million to reach 70% within four years.
  • The Commonwealth Project is located in the Tier-1 Lachlan Fold Belt, known for its high-grade gold, silver, zinc, lead, and copper mineralization.
  • JORC (2012) Inferred Mineral Resources at the Commonwealth and Silica Hill deposits estimate significant quantities of gold and silver with additional zinc and lead credits.
  • Drilling approvals and landholder access agreements are in place, facilitating rapid project mobilization.
  • Kuniko is raising funds via a 1-for-3 non-renounceable rights issue priced at A$0.07 per share, with free attaching options.
  • GBA Capital has been appointed as the Lead Manager and is proposed to underwrite the Rights Issue.
  • The Commonwealth Project contains high-sulphidation volcanogenic massive sulphide and epithermal systems with potential for further exploration and resource expansion.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.