Australia's Kingwest Resources up on recommencing gold production at WA project

Quaker Chemical

13/07/2022 04:32

** Shares of gold miner Kingwest Resources  KWR.AX  jump as
much as 16% to A$0.087
    ** Co says it has entered deal with Kalgoorlie-based firm,
BML Ventures, to recommence gold production at Menzies gold
project in Western Australia after over 20 years  urn:newsml:reuters.com:*:nFWN2YT3FU
    ** Says deal will specifically focus on open pit and
underground mining at the Selkirk deposit which is a small gold
project within the Menzies project 
    ** Says under deal, BML will cover all capital costs and be
responsible for all mining and haulage, as well as give co its
operating and financial budgets for approval
    ** KWR says cos plan to equally split profits from mining
    ** KWR down 61.5% YTD, as of last close 
    


 (Reporting by Riya Sharma in Bengaluru)
 ((Riya.Sharma@thomsonreuters.com;))