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Link Market Services, Level 12 QV1 Building 250 St Georges Terrace Perth WA 6000

Tel : +61 8 9211 6670 or 1300 554 474
Fax : +61 2 9287 0303
RegistryWebsite RegistryEmail

Company details

ISIN: AU000000KRM1
Address: 8/150 Hay Street Subiaco WA 6005
Tel:  +61 8 9381 5588 Fax: (08) 9486 1511

Date first listed: 07/12/2007
Company Secretary: Joanna Kiernan
Sector: Materials Industry Group: XMJ
Activities: Gold exploration and mine development

News & Events

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The securities of Kingsrose Mining Limited will be reinstated to official quotation as from 10am (AEDT) on Monday 18 December 2017 following the completion by the Company of a recapitalisation.


The company has retired its $4.4m unsecured debt to Beaurama ahead of schedule. Under the agreement, Beaurama has agreed to accept $2.25m in full and final satisfaction of the loan facility.


All resolutions proposed at the company's AGM were passed on a show of hands without amendment.


The company releases the Chairman's address to shareholders.


The company lodges its September 2017 Quarterly Activities & Cashflow Report.


Notice is hereby given that the Annual General Meeting of Shareholders of Kingsrose Mining Limited will be held at the Walsh Room, Sage Hotel, 1309 Hay Street, West Perth WA 6005 on Monday, 20 November 2017 at 11am (WST).


The company releases its 2017 Appendix 4G.


The company releases its 2017 Corporate Governance Statement.


The company lodges its 2017 Annual Report.


The turnaround at the company's 85%-owned Way Linggo Project in Indonesia continues to gain pace, with production increasing and strong progress made on several potential growth options.


The new Board is now in the process of undertaking a comprehensive review of the Company and its operations which is focussed on delivering a long term and low cost mining operation which extracts full value for all stakeholders of the highly prospective Way Linggo Project. The Company is pleased to advise this is now nearing completion. ASX requires the company to satisfy a number of conditions for the reinstatement to the official list which was anticipated to occur around 15 September 2017. ASX has agreed to extend this to 15 December 2017. It is anticipated that reinstatement on ASX will occur before this date.


The Company wishes to advise that no fully paid ordinary shares were issued under the Prospectus lodged with ASIC and ASX on 1 August 2017. Following the resignation of employees, the following securities have been cancelled; 416,413 Share Performance Rights, 2,000,000 Options ($0.27, 8 March 2019) and 500,000 Options ($0.26, 18 November 2018).


The company issued a cleansing prospectus to remove any trading restrictions on the sale of shares recently issued by the company. This prospectus is for the offer of 250 shares in the capital of the company at a price of $0.04 per share to raise up to $10.00 (before expenses).


The requirements of the DOCA entered into by the Company on 8 June 2017 have now been successfully completed allowing the Company to transition out of external administration effective 31 July 2017 with control of the Company's affairs reverting to the Directors.


The company lodges its June 2017 Quarterly Activities & Cashflow Report.


The company releases the results of its meeting.


The administrators released a letter to the company's shareholders in relation to the resolutions put forward in the General Meeting. The company's directors and deed administrators unanimously recommend that shareholders vote in favour of these resolutions.


The operations at the Way Linggo Project in Indonesia is progressing well, with production in the June 2017 quarter increasing 50% from the previous quarter to ~5055 ounces of gold.


The company has been granted by the ASIC in relation to section 713 and section 9 of the Corporations Act 2001. The Relief granted by ASIC allows the Company to issue a transaction specific prospectus under section 713 of the Act in respect of the Offer rather than a full form prospectus under section 710 of the Act.


The final distribution to creditors in accordance with the terms of the DOCA was made today. Creditors will receive 100 cents in the dollar. The holding of a shareholders' meeting, approval of the resolutions the subject of the meeting and the subsequent issue of shares pursuant to the resolutions are the only remaining susbtantive conditions to be satisfied under the terms of the DOCA.


A notice of general meeting, explanatory statement and proxy form were dispatched to shareholders. The general meeting of shareholders will be held at 11am (WST) on 28 July 2017 at FTI Consulting, Level 6, the Esplande Perth WA.


At the second meeting of creditors today, creditors approved entering into a DOCA against liquidiation alternatives. The MM Gold meeting was adjourned to 22 June 2017. The DOCA has subsequently been executed and the voluntary administrators, Michael Ryan and Ian Francis of FTI Consulting have now been appointed as deed administrators of the Kingsrose Group. The Deed Administrators will now administer the DOCA which will come to an end upon the satisfaction of the following conditions: lodgment of the financial reports for the half-year ended 31 December 2016 with ASX and ASIC - done on 7 June 2017; and shareholders in a general meeting approving the conversion of the convertible loans and the debts of MJA and GGIL to equity; the share issues referred to above; and the deed administrators having paid the final distribution of funds to creditors in accordance with the terms of the DOCA.


The company lodges its Half Yearly Report and Accounts.


The Administrators of Kingsrose Mining Limited refer to the respective announcements of 24 March 2017 and 19 April 2017 and advise the Company has now raised a total of approximately A$6.55 million through secured convertible loan facility agreements.


The company lodges its March 2017 Quarterly Activities & Cashflow Report.


The company provides an operational update. It is advised that the restructure of the company's operations at the Way Linggo Project in South Sumatra, Indonesia is progressing, with March Quarter production increasing 72% to 3,361 ounces of gold. The progress to date is at 4,728 ore tonnes mined at 9.2g/t Au.


The Company has raised approximately a further $1m through secured convertible loan facility agreements, bringing the total amount raised to A$6.4m. The funds raised under the Convertible Facility will be applied to the ongoing restructure of KRM, to provide working capital for the Company and to provide funding to its 85 per cent owned subsidiary PT Natarang Mining, the owner and operator of the Way Linggo Project. The Convertible Facility can be converted to equity at four cents per share. To date KRM has received conversion notices for 74 per cent in value of the total funds raised from Lenders confirming they wish to convert their facility into shares.


The Administrators of Kingsrose Mining Limited advise that the Company has to date raised $5.4m via a secured convertible loan facility to assist with the ongoing restructure of Kingsrose's financial arrangements and operations at the Way Linggo Project in Indonesia. The amount raised has either been received and/or is represented by executed agreements. Firm commitments of up to another $1m are expected to be received in the next 7 days.


The administrators of the company wish to advise that they intend to rely on the relief granted to certain companies under administration in respect of the requirements to lodge Kingsrose's half yearly financial report for the period ended 31 December 2016. As a consequence of the deferral relief granted pursuant to the Instrument, Kingsrose is not required to report to members and lodge with ASIC financial reports for the half year period ended 31 December 2016 for a period of six months from the appointment of the Administrators, being until 14 June 2017.


The Administrators of Kingsrose Mining Limited advise that significant progress has been made in relation to Kingsrose's financial arrangements and operations at the Way Linggo Project in Indonesia.


The company lodges its December 2016 Quarterly Activities & Cashflow Report.


The administrators may report to creditors and convene the second meeting of creditors at any time up to and including 24 July 2017. They intend to use the additional 6 months available to them as a result of the ruling to make further progress on their review of Kingrose's financial arrangements and operations at the Way Linggo Project in Indonesia.


FTI Consulting held the first meeting of creditors of Kingsrose Mining Ltd, MM Gold Pty Ltd and Natarang Offshore Pty Ltd today and provided an update to creditors. The creditors were informed that the administrators were in the process of appointing technical and financial advisors to assist with the review of the position of each company, its current strategies and the available options. This work will include seeking to develop a revised mine plan aimed at returning the Way Linggo Project to profitability and determining the necessary capital funding. Following this work recapitalisation efforts will commence. In the interim the Administrators will explore options for short term funding. As required under the Corporations Act, a second meeting of creditors will be held to allow creditors to vote on the future of each company.


The Board of Kingsrose Mining has resolved to appoint Michael Ryan and Ian Francis of FTI Consulting as voluntary administrators as part of continued efforts to restructure the Company, its financial arrangements and operations at the Way Linggo Project in Indonesia.


The securities of Kingsrose Mining Limited will be suspended from official quotation at the commencement of trading on Wednesday 14 December 2016, at the request of the Company, pending the release of an announcement.


the suspension of trading in the securities of Kingsrose Mining Limited (the "Company") will be lifted immediately following receipt of an announcement by the Company


securities suspended from quotation, at the request of the Company pursuant to Listing Rule 17.2, pending the release of an announcement regarding capital raising


listed entity carried for record purposes only

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    Click here for free access to this company's:
    ASX, Legal & CGT Status

    Directors' on-market share transactions (last 5)

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    Purchases Sales

    24/06/2021John Carlile250,000$0.052$12,950
    09/04/2021John Carlile500,000$0.046$22,750
    12/11/2020John Carlile1,000,000$0.037$36,600
    05/06/2019Michael Andrews750,000$0.041$30,750
    29/05/2019Michael Andrews1,112,411$0.043$47,500

    Click here for the last 20 transactions all companies

    Directors & Executives (current)

    Michael AndrewsNon Exec Chairman09/08/2007
    Scott HuffadineManaging Director13/01/2014
    Fabian BakerManaging Director, CEO08/02/2021
    Mark A. SmithCFO26/04/2021
    Daryl CorpIndependent Director20/11/2020
    Tim CoughlinNon Exec Director20/11/2020
    Doug KirwinNon Exec Director02/05/2016
    Andrew J CookeNon Exec Director20/11/2020
    John CarlileNon Exec Director04/02/2019

    Date of first appointment, title may have changed.

    Directors & Executives (former)

    Chloe LamCFO06/05/201926/04/2021
    Karen O'NeillManaging Director, CEO08/10/201831/12/2020
    Peter LesterIndependent Director13/02/202019/11/2020
    John MorrisNon Exec Director17/08/200705/10/2020
    Grant MillsIndependent Director16/08/201730/11/2019
    Stuart BodeyCEO06/03/201906/05/2019
    Paul JagoManaging Director, CEO01/08/201704/02/2019
    Roderick McIllreeNon Exec Chairman, Independent Director16/08/201705/12/2018
    Andrew SpinksIndependent Director22/08/201216/08/2017
    Joanna KiernanInvestor Relations16/04/201416/08/2017
    Mike MooreCEO16/11/201612/04/2017
    Matthew SmithCFO28/01/201430/11/2016
    William PhillipsExecutive Director12/01/200524/06/2016
    Timothy SpencerFinance Director, CFO28/03/200917/02/2014
    Chris StartManaging Director01/07/201105/06/2013
    Peter CookNon Exec Director01/01/201022/08/2012
    Dennis FranksFinance Director04/02/200828/03/2009
    David HatchManaging Director22/10/200726/02/2009

    Date of first appointment, title may have changed.