- Mining giants Sumitomo and Centerra Gold (TSX:CG) are exercising their top-up right as existing investors in Kenorland Minerals (TSXV:KLD) to increase their positions following recent share issuances.
- Kenorland’s vast gold portfolio includes grassroots exploration projects, discovery-stage assets and established resources.
- Kenorland stock has added 23.95 per cent year-over-year and 71.07 per cent since 2021.
Mining giants Sumitomo and Centerra Gold (TSX:CG) are exercising their top-up right as existing investors in Kenorland Minerals (TSXV:KLD) to increase their positions following recent share issuances.
This article is a journalistic opinion piece which has been written based on independent research. It is intended to inform investors and should not be taken as a recommendation or financial advice.
According to Friday’s news release, Sumitomo will purchase 158,768 shares priced at C$2.136 to maintain its 10.1 per cent stake, while Centerra will pick up 155,624 shares to retain its 9.9 per cent stake, combining for total consideration of C$671,541.31.
Kenorland’s assets are highlighted by a 4 per cent net smelter return royalty on the Frotet project in Quebec, owned by Sumitomo Metal Mining Canada, where a 2025 resource estimate of 2.55 million ounces of gold inferred sets the project up for planned bulk sampling and underground decline work in 2027-2028.
Kenorland also has numerous drill programs planned across its extensive discovery-stage portfolio, with a more than 1.5-million-hectare grassroots exploration pipeline under active study, most recently highlighted by ongoing work at the Western Wabigoon project in Ontario.
About Kenorland Minerals
Kenorland Minerals is a well-financed mineral exploration and project generation company active in North America.
Kenorland stock (TSXV:KLD) is unchanged trading at C$2.07 as of 9:54 am ET. The stock has added 23.95 per cent year-over-year and 71.07 per cent since 2021.
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