Kinetiko Energy Secures AU$1.26 Million Non-Dilutive Funding
Kinetiko Energy Ltd (ASX: KKO) has strengthened its funding position after its South African subsidiary, Afro Energy, entered into a Co-operation and Settlement Agreement with Mulilo Newcastle Wind Power and Mulilo Renewable Project Developments. The arrangement provides AU$1.26 million in non-dilutive cash consideration while resolving overlapping land-use arrangements connected with the proposed Newcastle wind energy project.
The agreement covers only 18.54 square kilometres, representing about 1.1% of Kinetiko’s ER270 exploration right, allowing exploration activities to continue outside the defined exclusion zone. Kinetiko has also secured a right of first refusal to supply natural gas if gas-fired generation is ultimately required for the Newcastle project, creating a potential future offtake opportunity. The funding will be directed towards accelerating the Phase 1 gas production cluster at Brakfontein, with 20% payable upon signing and the balance following the project’s targeted financial close.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au
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Kinetiko Energy Secures AU$1.26 Million Non-Dilutive Funding
Kinetiko Energy Ltd (ASX: KKO) has strengthened its funding position after its South African subsidiary, Afro Energy, entered into a Co-operation and Settlement Agreement with Mulilo Newcastle Wind Power and Mulilo Renewable Project Developments. The arrangement provides AU$1.26 million in non-dilutive cash consideration while resolving overlapping land-use arrangements connected with the proposed Newcastle wind energy project.
The agreement covers only 18.54 square kilometres, representing about 1.1% of Kinetiko’s ER270 exploration right, allowing exploration activities to continue outside the defined exclusion zone. Kinetiko has also secured a right of first refusal to supply natural gas if gas-fired generation is ultimately required for the Newcastle project, creating a potential future offtake opportunity. The funding will be directed towards accelerating the Phase 1 gas production cluster at Brakfontein, with 20% payable upon signing and the balance following the project’s targeted financial close.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au