Kinetiko Energy raises A$5.4 million to fund South African Brakfontein gas field

Kinetiko Energy Ltd (ASX: KKO) completed a A$5.4 million private placement to professional investors, issuing about 180 million fully paid ordinary shares at A$0.03 each – a 14% discount to the previous trade price. Talent 10 Holdings (Pty) Ltd, a major South African shareholder linked to non‑executive director Mxolisi Mgojo, contributed A$3 million of the total.

The proceeds will be used primarily to advance Phase 1 development of the Brakfontein gas‑well cluster in South Africa, with the company targeting its first commercial gas production by late 2027. Additional funding will support drilling of further exploration wells, permit applications, the search for a new chief executive officer and general working capital. Executive Chairman Adam Sierakowski said the strong investor support reflects confidence in Kinetiko’s transition from explorer to producer.