KGL Resources receives US$16M deposit payment

• KGL Resources received a second US$16 million instalment from Wheaton Precious Metals, completing the US$32 million early deposit for its project.
• Following the funding milestone release, KGL shares closed down 4.57% at $0.17.
• The company stated the agreement secures total potential funding up to US$300 million to fully finance construction and production.

KGL Resources (ASX:KGL) has received the second US$16 million instalment of an early deposit under its metal purchase agreement with Wheaton Precious Metals.

This instalment follows the initial US$16 million payment received in June 2026, satisfying conditions such as Foreign Investment Review Board approval.

“Receipt of the second US$16 million payment completes the US$32 million early deposit and is another clear execution milestone for the Jervois Project,” said KGL CEO Sam Strohmayr.

A further US$243 million remains available in four tranches during construction, alongside a US$25 million cost-overrun facility.

Following the announcement, the KGL Resources share price was down at $0.17.

The company stated that a recent $300 million equity raising ensures the project is fully funded through construction into production without debt.

KGL continues to advance its 100%-owned Jervois Copper Project located in the Northern Territory.