Koonenberry Gold (ASX:KNB) debuted on the ASX amid renewed focus on gold producers as gold production in Australia outpaced China during the first half of 2021.
Australia produced four tonnes more gold than China, according to Melbourne consulting group Surbiton Associates.
The bullish outlook was supported by a recent report by the Department of Industry, Science, Energy and Resources, which is forecasting that Australia’s gold exports are expected to rise to its highest export value in history at $29 billion in the 2021-22 financial year.
“Koonenberry Gold is delighted to list at a time in which there is such strong support for Australian gold producers. While we are still in the exploration phase, it’s encouraging to be aligned with a major global macro trend,” said Koonenberry Gold CEO Karen O’Neill.
Koonenberry Gold successfully completed an $8 million capital raise, ahead of the ASX debut, to pursue the development of a greenfields gold project northeast of Broken Hill.
“Koonenberry has eight near-drill ready exploration targets. The Lucky Sevens prospect is perhaps the most advanced and we are encouraged by visible gold in the outcropping reef at the surface with a rich nugget patch,” said Ms O’Neill.
The Koonenberry project comprises 12 exploration licenses covering an area of 1,339 sq/km.
“This is a significant landholding in an underexplored emerging gold province with geological similarities to the Victorian goldfields including the style of mineralisation, mineral associations, metal associations, hydrothermal alteration, structural setting, timing of metamorphism and the age of mineralisation, and the character of the sedimentary host rocks. It’s exciting to be developing a new gold project in an emerging province in Australia,” said Ms O’Neill.
Koonenberry Gold can be found on the ASX under the ticker code (ASX:KNB).
For more information visit www.koonenberrygold.com.au