Kingston Resources Limited

Notable vs. Peers

• Financials score of 10/10 is stronger than the peer average of 6.4/10.
• Trading within 5% of its 52-week low — weak recent price momentum.

Lifecycle Milestones

1. Permit granted

   Reached — date not disclosed · Mineral Hill has operated continuously under the same underlying mining lease(s) across a chain of prior owners since 1987: KBL Mining reopened the site in 2010 (first gold 2011) and refurbished the CIL plant and Tailings Project before entering administration in 2016; Quintana MH Holding Company then acquired and further refurbished the operation in 2018, holding it until Kingston's November 2021 binding agreement (this miner's existing CONSTRUCTION_DECISION row). Mining Weekly's own report on Kingston's January 18, 2022 acquisition completion (the same source already cited on this miner's CONSTRUCTION_START row) states Mineral Hill was 'currently ramping up production from the processing of existing tailings with full production rates targeted to be reached during the first quarter of 2022' immediately upon Kingston taking ownership -- production resuming instantaneously at deal close is only possible because the processing operation and its underlying approvals were already active and transferred with the asset, not newly granted to Kingston as a dated event. Same reused-pre-existing-permit shape as HL/San Sebastian, DRD/FWGR, and TBR/EKJV (Task #646 batches 1 and 8) and DVP/Woodlawn (Task #641). No dated 'permit granted to Kingston' event exists because none occurred -- the permit predates Kingston's 2022 acquisition and no earlier original-grant date was confirmable this pass. · Source
2. Construction decision (FID)

   Nov 2021 · Kingston announced a binding agreement with US-based Quintana MH Holding Company to acquire 100% of the Mineral Hill Mine (Cobar region, NSW) for up to A$22.7M -- the company's real decision event to become a gold producer via Mineral Hill, ahead of completing the acquisition Jan 18, 2022. Mineral Hill was already a fully-approved, previously-operating mine (20 granted mining leases) at acquisition; Kingston's own action was the acquisition/restart decision, not the original permit grant (see PERMIT_GRANTED checked-gap below; same acquired-already-permitted pattern as ITR/Florida Canyon above). · Source
3. Construction start

   Jan 2022 · Kingston completed the Mineral Hill acquisition and immediately began ramping up production from reprocessing of the existing tailings storage facility (the Tailings Project was already commissioned at acquisition); throughput reached targeted rates by February 2022. This restart-under-new-ownership date is used per the KCN/EDR convention (an operational restart standing in for 'construction' where the underlying plant was inherited already-built) -- disclosed judgment call, not a claim that Kingston physically built the tailings plant. · Source
4. First pour / production

   Reached — date not disclosed · Tailings-reprocessing gold production ramped up to targeted throughput rates during Q1 2022 (February 2022 per contemporary coverage), immediately following the Jan 18, 2022 acquisition completion, with positive cash flow reported for May-June 2022. No single dated 'first gold pour/sale' release was found; recorded reached-but-undated rather than inventing a specific day. · Source
5. Commercial production

   Reached — date not disclosed · Genuinely reached, but no source found frames either date with formal 'commercial production declared' language: first gold production from the refurbished processing plant at the Mineral Hill Mine (Cobar, NSW) was achieved 2024-08-23 (processing ore from the new Pearse North open pit), with first gold CONCENTRATE production reaching full plant capacity by 2025-06-23. Genuinely reached and sustained for roughly two years, but the operation recently paused underground development and permanently ceased mining at Pearse South after a wall failure, shifting toward open-pit mining and exploration. Note: Kingston's OTHER historic asset, the Misima Gold Project (PNG), was fully divested to Ok Tedi Mining Limited in July 2025 and is explicitly NOT a current Kingston asset -- not the basis for this write. Left null with the Mineral Hill Aug 2024/Jun 2025 milestones noted. This row was missing entirely prior to 2026-08-21 -- a genuine data gap, not a stage error; Miner.stage was already correctly PRODUCTION. · Source

Milestones are recorded only from a company's own dated disclosure. A milestone with no date shown is one we can confirm was reached but for which no date was disclosed — we don't estimate one. "Not yet reached" means exactly that, not that a date is missing. An "Expected" line likewise only ever reflects the company's own guidance (e.g. a study or permit decision targeted for a stated quarter) — most not-yet-reached milestones have none, and that absence means no such guidance has been disclosed, not that one is overdue.

A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal the underlying research identifies — whether a major already holds a JV, earn-in, or 5–19.9% strategic stake — isn't tracked yet and is absent from this score.