Brisbane, Australia, Feb 21, 2014 - (ABN Newswire) - KGL Resources Limited (KGL) advises that the sale of the Murchison Gold project has settled.
As announced in Dec 2013, KGL has received cash consideration of $15 million for the West Australian gold project.
In addition to using the funds to continue the exploration and development of the Jervois copper project in the Northern Territory, KGL has contributed $1 million, on top of the $3million paid in 2013, to the creditors of Kentor Minerals (WA) Pty Ltd via the Deed of Company Arrangement (DOCA) fund. This has finalised all KGL's obligations under the DOCA.
About KGL Resources Limited:
KGL Resources (ASX:KGL) is an Australian-based, emerging copper mining company listed on the Australian Securities Exchange. KGL Resources is focused on the development of the Jervois copper project in the Northern Territory.
KGL Resources LimitedSimon Milroy MD