Australian mining firms raise over $184 million in capital placements

KGL Resources announced a conditional institutional placement that secured approximately US$180 million, issuing around 902 million new shares at A$0.20 each. The proceeds will fund development and construction of the Jervois copper‑silver‑gold project in the Northern Territory, Australia, with open‑pit mining slated to start next year.

Gold Mountain Limited also secured a binding placement of 45 million new shares at A$0.10 each, raising about US$4.5 million. The capital will be directed to accelerate exploration of rare‑earth and lithium projects in Brazil, including the Salinas and Jequie areas, and to support general working capital.

Both companies said the placements reflect strong investor demand and will strengthen their balance sheets for upcoming development and exploration programmes.