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KBL Mining Ltd Raises Funds For Mineral Hill In New South Wales

KBL Mining Ltd (ASX:KBL) has outlined the first stage of its capital raising with a placement of shares to sophisticated investors raising $825,000.

The placement comprised 165 million shares at 0.5 cents, and includes a 1 for 1 free attaching option exercisable at 0.5 cents with a 2 year expiry.

APP Securities acted as lead manager.

KBL's main assets include the Mineral Hill copper-gold-silver-lead-zinc mine near Condobolin in New South Wales and Sorby Hills lead-silver-zinc project in Western Australia.

The company has been operating the refurbished processing plant at Mineral Hill since October 2011 to produce copper-gold concentrates and in 2013 commenced producing a separate lead-silver concentrate.

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