Lion Selection commits $0.6M to Koonenberry Gold
- Lion Selection Group committed a $4 million capital raise.
- The investment secures a 10.1% stake in Koonenberry Gold at a $20.5 million valuation.
- Funding will support near-term, multi-project gold and copper exploration drilling in New South Wales.
Mining investment firm Lion Selection Group (ASX:LSX) committed to invest in a $4 million fundraising placement.
The fresh capital comes after Koonenberry Gold (ASX:KNB) drilled thick gold intersections in 2025, including 107m at 1.14 grammes per tonne of gold at its Enmore prospect.
"Koonenberry’s portfolio was assembled over almost a decade by Darren Glover, who has recently stepped into the executive director role," said Lion Selection Group Managing Director Hedley Widdup.
The placement is priced at 2 cents per share, which values Koonenberry at a market capitalisation of $20.5 million.
The capital injection will fund near-term exploration targets across New South Wales, and following the announcement, the Lion Selection Group share price was unchanged at $0.86.
The company's exploration strategy focuses on taking "many shots on goal" across an inventory of broad targets to reduce discovery uncertainty.
Lion Selection Group also holds exposure to joint venture projects operated and funded by Newmont, which free carry Koonenberry through to production.
