Kingfisher Metal Stock Price, News & Analysis

Kingfisher Metals has announced the commencement of its 2024 phase 1 exploration at the HWY 37, LGM, and Thibert projects in British Columbia. The exploration includes a 1158 line-km ZTEM airborne geophysical survey starting in late June, VRIFY AI machine learning applications, and follow-up mapping and IP surveys at the HWY 37 and LGM projects. A soil and till sampling campaign will be conducted at the Thibert Project. The company's CEO, Dustin Perry, emphasized the goal of identifying new porphyry centers and high-grade mineral targets. Historical data highlights significant mineralization at these projects, with promising intercepts of copper and gold.

Kingfisher Metals has signed a definitive agreement to acquire the LGM Project in British Columbia's Golden Triangle from Origen Resources. This acquisition expands Kingfisher's holdings in the region from 362 km² to 630 km². The LGM Project features multiple exploration targets, including KSM-type, Galore Creek-type, and Eskay Creek-type systems. Historical sampling at the Grizzly and Lucifer targets indicates significant mineralization potential, with trench samples at Grizzly showing 0.74% Cu and 1.09 g/t Au over 38 meters. The project is fully permitted for diamond drilling. The acquisition will be executed through issuing 3,000,000 Kingfisher shares and paying C$75,000 in cash to Origen. The transaction is pending approval from TSX-V and CSE.

Kingfisher Metals announced the closure of the final tranche of its private placement, raising a total of C$2,108,462.08. This includes the second tranche, which issued 6,869,998 units at C$0.175 per unit for C$1,202,249.65. The first tranche raised C$1,108,116. Each unit consists of one common share and one-half of one transferable common share purchase warrant, exercisable at C$0.30 for 24 months. Commissions were paid to an eligible finder, including a cash commission of C$630.00 and 3,600 finder warrants. Crescat Portfolio Management, an insider, participated in the second tranche, making the transaction a related party transaction exempt from formal valuation and minority shareholder approval requirements.

Kingfisher Metals Corp. (KGFMF) has closed the first tranche of its private placement financing, raising C$906,212.43 via 4,521,214 units at $0.175 per unit and 511,111 flow-through units at $0.225 per unit. Each unit includes one common share and half a warrant, while each flow-through unit consists of one flow-through share and half a non-flow-through warrant. Warrants can be exercised within 24 months at $0.30. The funds will be used for Canadian exploration expenses. A final tranche, aiming to raise an additional C$1,093,787.57, is expected to close in May 2024. Insider participation includes CEO Dustin Perry and other directors. The offering is subject to regulatory approvals and a four-month hold period.