# KNG: Annual Report to shareholders

Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/kng-annual-report-to-shareholders--1a062aa3-6a05-4134-8e0d-8b3b70359869

Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03146533

Publisher: asx

Original announcement: 2026-09-30T07:18:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: 2026-09-30T08:31:57.472Z

Atlas analysis updated: 2026-09-30T08:31:57.472Z

- Company: Kingsland Minerals Ltd

- Ticker: KNG

- Exchange: ASX

- Region: Northern Territory

- Primary commodity: Graphite

- Secondary commodities: Lithium, Gallium, Rutile

- Document categories: Drill results, Resource update, Metallurgy

- Extracted: 2026-09-30 08:31:58 UTC

Narrative sentiment: 0.80 · Bullish

## Minestarters Atlas summary

Kingsland Minerals Ltd reported significant progress in its 2026 Annual Report, highlighted by the advancement of the Leliyn Graphite Project to Pre-Feasibility Study \(PFS\) stage. The company achieved outstanding high-grade graphite drill intersections and demonstrated high recovery rates for gallium as a potential byproduct. A successful capital raise of A$2.16 million supported these work programs and ongoing exploration at the Lake Johnston Lithium Project, which expanded known lithium anomalies.

Reasoning: Kingsland Minerals Ltd reported significant progress across its key projects, including high-grade graphite drill results, strong metallurgical recoveries for a potential gallium byproduct, and the advancement of its Leliyn Graphite Project to PFS, supported by a successful capital raise.

- Positive factor: Successful capital raise providing funding for project advancement

- Positive factor: Advancement of Leliyn Graphite Project to Pre-Feasibility Study \(PFS\) stage

- Positive factor: Outstanding high-grade graphite drill intersections from surface

- Positive factor: High recovery rate for gallium as a potential byproduct

- Positive factor: Expansion of known lithium anomalies at Lake Johnston Lithium Project

Facts used in scoring: 16

## Classification and evidence

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: The Leliyn Graphite Project includes an Indicated Mineral Resource of 12.3 Mt at 7.9% TGC, representing a higher confidence category.

Evidence · table

> Indicated 12.3 7.9 1.0

Context: Indicated

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: The Leliyn Graphite Project includes a substantial Inferred Mineral Resource of 180.2 Mt at 7.2% TGC, which is a lower confidence category.

Evidence · table

> Inferred 180.2 7.2 13.0

Context: Inferred

**Maiden Resource**

Polarity: neutral

Definition: First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component.

Why it applies: The Leliyn Gallium Exploration Target is the first formal estimate for gallium, establishing a baseline for potential byproduct.

Evidence · text

> On 9 July 2025, the Company announced a Gallium Exploration Target estimated across the footprint of the existing graphite Mineral Resource \(Figure 4\).

**JORC Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard.

Why it applies: The Mineral Resource estimate and Exploration Targets are based on information compiled by Competent Persons as defined by the JORC Code 2012.

Evidence · text

> The information in this report that relates to Exploration Results and Exploration Targets is based on information compiled by Richard Maddocks, a Competent Person who is a Fellow of The Australasian Institute of Mining and Metallurgy. ... The information in this report which relates to Mineral Resources for the Leliyn deposit was compiled by Mr Grant Louw, who is an employee of Auralia Pty Ltd and a member of the Australian Institute of Geoscientists.

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: Richard Maddocks, Mr Grant Louw, and Dr Andrew Scogings are named as Competent Persons responsible for the exploration results, exploration targets, and mineral resource estimates.

Evidence · text

> The information in this report that relates to Exploration Results and Exploration Targets is based on information compiled by Richard Maddocks, a Competent Person who is a Fellow of The Australasian Institute of Mining and Metallurgy. ... The information in this report which relates to Mineral Resources for the Leliyn deposit was compiled by Mr Grant Louw, who is an employee of Auralia Pty Ltd and a member of the Australian Institute of Geoscientists.

**Bonanza Intercept**

Polarity: positive

Definition: Exceptionally high-grade zone, well above the deposit-type norm.

Why it applies: Drill hole LEM\_02 returned an outstanding intersection of 152.6m @ 9.6% TGC from surface, which is exceptionally high-grade for graphite.

Evidence · table

> 9.6

Context: 152.6

**Infill Drilling**

Polarity: neutral

Definition: Confirmatory drilling to raise resource confidence, not new discovery.

Why it applies: The metallurgical diamond drilling program was completed within the scoping study open-pit design to support ongoing PFS activities.

Evidence · text

> a targeted metallurgical diamond drilling program was completed during the December quarter. The program comprised three PQ-size \(85mm diameter\) diamond drillholes totalling 380 metres, drilled within the scoping study open-pit design

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: The report includes a Competent Persons Statement, indicating that QA/QC procedures were followed for exploration results and mineral resources.

Evidence · text

> The information in this report that relates to Exploration Results and Exploration Targets is based on information compiled by Richard Maddocks, a Competent Person who is a Fellow of The Australasian Institute of Mining and Metallurgy.

**High Recovery**

Polarity: positive

Definition: Recovery at or above the exceptional band for the commodity and processing route.

Why it applies: Gallium extraction rates of up to 94.4% were achieved, which is an exceptional recovery rate.

Evidence · table

> 94.4%

Context: Total

**Bench Scale Only**

Polarity: negative

Definition: Only preliminary bench tests completed — no locked-cycle or pilot work.

Why it applies: The gallium testwork was conducted on a single 50g sample, indicating it is still at a preliminary bench scale.

Evidence · text

> One 50g sample was selected from crushed and ground graphitic schist post graphite and sulphide mineral removal.

**Single Domain Only**

Polarity: negative

Definition: Testing limited to one composite or domain — representativeness not established.

Why it applies: The gallium testwork was performed on a single composite sample, not addressing variability across different ore domains.

Evidence · text

> The sample utilised was the same composite used for the bulk graphite concentrate generation work.

**Strategic Investment**

Polarity: positive

Story-specific tag

Definition: No canonical definition is currently available.

Why it applies: The capital raise received strong support from major shareholders Quinbrook and Bacchus, increasing their holdings and demonstrating confidence.

Evidence · text

> The strong support received from two of our largest shareholders, Bacchus and Quinbrook, together with participation from other shareholders, demonstrated confidence in the Company’s strategy and ongoing work programs.

**Mill Route**

Polarity: neutral

Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\).

Why it applies: the document describes a flotation route \("flotation"\)

**POX/BIOX Route**

Polarity: neutral

Definition: Pressure or bio-oxidation for refractory ore — high CAPEX and OPEX.

Why it applies: the document describes a pox\_biox route \("roasting"\)

## Extracted facts

Stored fact records: 16. Some facts used in scoring do not have a stored record.

## Drill Results (9)

### LEM\_01

[Link to this fact](https://atlas-staging.minestarters.com/news/kng-annual-report-to-shareholders--1a062aa3-6a05-4134-8e0d-8b3b70359869#fact-drill-facts-4)

Leliyn · graphite

#### Identity

- Hole ID: LEM\_01
- Project: Leliyn
- Commodity: graphite
- Region: australia\_nt
- Reported Region: australia\_nt
- Ticker: KNG

#### Geometry

- Grade: 8.9
- Grade Unit: %
- Intercept: 100.2 m
- From: 1.4 m
- To: 101.6 m
- Hole Depth: 101.6 m
- Intercept Depth: 1.4 m

#### Classification

- Program: resource
- Sample Type: drill
- Group ID: LEM\_01:1.4-101.6

#### Location

- Easting: 822613
- Northing: 8499819
- Elevation: 144 m
- Azimuth: 181.4 °
- Dip: -70 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- QP Signed: Yes
- QA/QC Methods: standards

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-30T00:00:00.000Z

Reasoning: This high-grade, near-surface graphite intersection confirms the quality of the Leliyn deposit and provides valuable material for ongoing PFS metallurgical testwork.

- Positive factor: High-grade graphite intersection

- Positive factor: Significant intercept length

- Positive factor: Starts near surface

- Positive factor: Supports PFS activities

- Negative factor: True width not stated

Evidence · table

> 8.9

Context: 100.2

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Infill Drilling**

Polarity: neutral

Definition: Confirmatory drilling to raise resource confidence, not new discovery.

Why it applies: drill\_program\_type is "resource"

### LEM\_01

[Link to this fact](https://atlas-staging.minestarters.com/news/kng-annual-report-to-shareholders--1a062aa3-6a05-4134-8e0d-8b3b70359869#fact-drill-facts-5)

Leliyn · graphite

#### Identity

- Hole ID: LEM\_01
- Project: Leliyn
- Commodity: graphite
- Region: australia\_nt
- Reported Region: australia\_nt
- Ticker: KNG

#### Geometry

- Grade: 8.7
- Grade Unit: %
- Intercept: 39.6 m
- From: 1.4 m
- To: 41 m
- Hole Depth: 101.6 m
- Intercept Depth: 1.4 m

#### Classification

- Program: resource
- Sample Type: drill
- Group ID: LEM\_01:1.4-41

#### Location

- Easting: 822613
- Northing: 8499819
- Elevation: 144 m
- Azimuth: 181.4 °
- Dip: -70 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- QP Signed: Yes
- QA/QC Methods: standards

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-30T00:00:00.000Z

Reasoning: This high-grade sub-interval within LEM\_01 further demonstrates the quality of the near-surface graphite mineralization.

- Positive factor: High-grade sub-interval

- Positive factor: Starts near surface

- Negative factor: True width not stated

Evidence · table

> 8.7

Context: 39.6

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Infill Drilling**

Polarity: neutral

Definition: Confirmatory drilling to raise resource confidence, not new discovery.

Why it applies: drill\_program\_type is "resource"

### LEM\_01

[Link to this fact](https://atlas-staging.minestarters.com/news/kng-annual-report-to-shareholders--1a062aa3-6a05-4134-8e0d-8b3b70359869#fact-drill-facts-6)

Leliyn · graphite

#### Identity

- Hole ID: LEM\_01
- Project: Leliyn
- Commodity: graphite
- Region: australia\_nt
- Reported Region: australia\_nt
- Ticker: KNG

#### Geometry

- Grade: 10.3
- Grade Unit: %
- Intercept: 52.6 m
- From: 49 m
- To: 101.6 m
- Hole Depth: 101.6 m
- Intercept Depth: 1.4 m

#### Classification

- Program: resource
- Sample Type: drill
- Group ID: LEM\_01:49-101.6

#### Location

- Easting: 822613
- Northing: 8499819
- Elevation: 144 m
- Azimuth: 181.4 °
- Dip: -70 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- QP Signed: Yes
- QA/QC Methods: standards

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-30T00:00:00.000Z

Reasoning: This very high-grade sub-interval within LEM\_01 contributes significantly to the overall high-grade intersection.

- Positive factor: Very high-grade sub-interval

- Positive factor: Significant length

- Negative factor: True width not stated

Evidence · table

> 10.3

Context: 52.6

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Infill Drilling**

Polarity: neutral

Definition: Confirmatory drilling to raise resource confidence, not new discovery.

Why it applies: drill\_program\_type is "resource"

### LEM\_02

[Link to this fact](https://atlas-staging.minestarters.com/news/kng-annual-report-to-shareholders--1a062aa3-6a05-4134-8e0d-8b3b70359869#fact-drill-facts-7)

Leliyn · graphite

#### Identity

- Hole ID: LEM\_02
- Project: Leliyn
- Commodity: graphite
- Region: australia\_nt
- Reported Region: australia\_nt
- Ticker: KNG

#### Geometry

- Grade: 9.6
- Grade Unit: %
- Intercept: 152.6 m
- From: 0 m
- To: 152.6 m
- Hole Depth: 152.7 m
- Intercept Depth: 0 m

#### Classification

- Program: resource
- Sample Type: drill
- Group ID: LEM\_02:0-152.6

#### Location

- Easting: 822452
- Northing: 8499894
- Elevation: 143 m
- Azimuth: 196.9 °
- Dip: -70 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- QP Signed: Yes
- QA/QC Methods: standards

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-30T00:00:00.000Z

Reasoning: This outstanding high-grade and very long graphite intersection from surface in LEM\_02 strongly confirms the quality and continuity of the Leliyn deposit.

- Positive factor: Outstanding high-grade graphite intersection

- Positive factor: Exceptional intercept length from surface

- Positive factor: Supports PFS activities

- Negative factor: True width not stated

Evidence · table

> 9.6

Context: 152.6

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Infill Drilling**

Polarity: neutral

Definition: Confirmatory drilling to raise resource confidence, not new discovery.

Why it applies: drill\_program\_type is "resource"

### LEM\_02

[Link to this fact](https://atlas-staging.minestarters.com/news/kng-annual-report-to-shareholders--1a062aa3-6a05-4134-8e0d-8b3b70359869#fact-drill-facts-8)

Leliyn · graphite

#### Identity

- Hole ID: LEM\_02
- Project: Leliyn
- Commodity: graphite
- Region: australia\_nt
- Reported Region: australia\_nt
- Ticker: KNG

#### Geometry

- Grade: 11.4
- Grade Unit: %
- Intercept: 27.8 m
- From: 2.8 m
- To: 30.6 m
- Hole Depth: 152.7 m
- Intercept Depth: 0 m

#### Classification

- Program: resource
- Sample Type: drill
- Group ID: LEM\_02:2.8-30.6

#### Location

- Easting: 822452
- Northing: 8499894
- Elevation: 143 m
- Azimuth: 196.9 °
- Dip: -70 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- QP Signed: Yes
- QA/QC Methods: standards

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-30T00:00:00.000Z

Reasoning: This very high-grade sub-interval within LEM\_02 further enhances the overall excellent intersection, starting very close to surface.

- Positive factor: Very high-grade sub-interval

- Positive factor: Significant length near surface

- Negative factor: True width not stated

Evidence · table

> 11.4

Context: 27.8

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Infill Drilling**

Polarity: neutral

Definition: Confirmatory drilling to raise resource confidence, not new discovery.

Why it applies: drill\_program\_type is "resource"

### LEM\_02

[Link to this fact](https://atlas-staging.minestarters.com/news/kng-annual-report-to-shareholders--1a062aa3-6a05-4134-8e0d-8b3b70359869#fact-drill-facts-9)

Leliyn · graphite

#### Identity

- Hole ID: LEM\_02
- Project: Leliyn
- Commodity: graphite
- Region: australia\_nt
- Reported Region: australia\_nt
- Ticker: KNG

#### Geometry

- Grade: 11.7
- Grade Unit: %
- Intercept: 19 m
- From: 49 m
- To: 68 m
- Hole Depth: 152.7 m
- Intercept Depth: 0 m

#### Classification

- Program: resource
- Sample Type: drill
- Group ID: LEM\_02:49-68

#### Location

- Easting: 822452
- Northing: 8499894
- Elevation: 143 m
- Azimuth: 196.9 °
- Dip: -70 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- QP Signed: Yes
- QA/QC Methods: standards

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-30T00:00:00.000Z

Reasoning: This very high-grade sub-interval within LEM\_02 reinforces the strong mineralization encountered in the hole.

- Positive factor: Very high-grade sub-interval

- Positive factor: Significant length

- Negative factor: True width not stated

Evidence · table

> 11.7

Context: 19.0

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Infill Drilling**

Polarity: neutral

Definition: Confirmatory drilling to raise resource confidence, not new discovery.

Why it applies: drill\_program\_type is "resource"

### LEM\_02

[Link to this fact](https://atlas-staging.minestarters.com/news/kng-annual-report-to-shareholders--1a062aa3-6a05-4134-8e0d-8b3b70359869#fact-drill-facts-10)

Leliyn · graphite

#### Identity

- Hole ID: LEM\_02
- Project: Leliyn
- Commodity: graphite
- Region: australia\_nt
- Reported Region: australia\_nt
- Ticker: KNG

#### Geometry

- Grade: 13.2
- Grade Unit: %
- Intercept: 24 m
- From: 115 m
- To: 139 m
- Hole Depth: 152.7 m
- Intercept Depth: 0 m

#### Classification

- Program: resource
- Sample Type: drill
- Group ID: LEM\_02:115-139

#### Location

- Easting: 822452
- Northing: 8499894
- Elevation: 143 m
- Azimuth: 196.9 °
- Dip: -70 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- QP Signed: Yes
- QA/QC Methods: standards

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-30T00:00:00.000Z

Reasoning: This exceptionally high-grade sub-interval at depth within LEM\_02 demonstrates strong continuity of high-grade mineralization.

- Positive factor: Exceptional high-grade sub-interval

- Positive factor: Significant length at depth

- Negative factor: True width not stated

Evidence · table

> 13.2

Context: 24.0

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Infill Drilling**

Polarity: neutral

Definition: Confirmatory drilling to raise resource confidence, not new discovery.

Why it applies: drill\_program\_type is "resource"

### LEM\_03

[Link to this fact](https://atlas-staging.minestarters.com/news/kng-annual-report-to-shareholders--1a062aa3-6a05-4134-8e0d-8b3b70359869#fact-drill-facts-11)

Leliyn · graphite

#### Identity

- Hole ID: LEM\_03
- Project: Leliyn
- Commodity: graphite
- Region: australia\_nt
- Reported Region: australia\_nt
- Ticker: KNG

#### Geometry

- Grade: 10.1
- Grade Unit: %
- Intercept: 125.6 m
- From: 0 m
- To: 125.6 m
- Hole Depth: 125 m
- Intercept Depth: 0 m

#### Classification

- Program: resource
- Sample Type: drill
- Group ID: LEM\_03:0-125.6

#### Location

- Easting: 822344
- Northing: 8499960
- Elevation: 142 m
- Azimuth: 196.7 °
- Dip: -70 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- QP Signed: Yes
- QA/QC Methods: standards

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-30T00:00:00.000Z

Reasoning: This high-grade, near-surface graphite intersection in LEM\_03 further confirms the quality of the Leliyn deposit and provides material for PFS testwork.

- Positive factor: High-grade graphite intersection

- Positive factor: Significant intercept length from surface

- Positive factor: Supports PFS activities

- Negative factor: True width not stated

Evidence · table

> 10.1

Context: 125.6

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Infill Drilling**

Polarity: neutral

Definition: Confirmatory drilling to raise resource confidence, not new discovery.

Why it applies: drill\_program\_type is "resource"

### LEM\_03

[Link to this fact](https://atlas-staging.minestarters.com/news/kng-annual-report-to-shareholders--1a062aa3-6a05-4134-8e0d-8b3b70359869#fact-drill-facts-12)

Leliyn · graphite

#### Identity

- Hole ID: LEM\_03
- Project: Leliyn
- Commodity: graphite
- Region: australia\_nt
- Reported Region: australia\_nt
- Ticker: KNG

#### Geometry

- Grade: 12.5
- Grade Unit: %
- Intercept: 58.6 m
- From: 67 m
- To: 125.6 m
- Hole Depth: 125 m
- Intercept Depth: 0 m

#### Classification

- Program: resource
- Sample Type: drill
- Group ID: LEM\_03:67-125.6

#### Location

- Easting: 822344
- Northing: 8499960
- Elevation: 142 m
- Azimuth: 196.7 °
- Dip: -70 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- QP Signed: Yes
- QA/QC Methods: standards

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-30T00:00:00.000Z

Reasoning: This very high-grade sub-interval within LEM\_03 reinforces the strong mineralization encountered in the hole.

- Positive factor: Very high-grade sub-interval

- Positive factor: Significant length

- Negative factor: True width not stated

Evidence · table

> 12.5

Context: 58.6

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Infill Drilling**

Polarity: neutral

Definition: Confirmatory drilling to raise resource confidence, not new discovery.

Why it applies: drill\_program\_type is "resource"

## Resource Estimates (6)

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/kng-annual-report-to-shareholders--1a062aa3-6a05-4134-8e0d-8b3b70359869#fact-resource-facts-0)

Leliyn Graphite Project · graphite

#### Identity

- Project: Leliyn Graphite Project
- Commodity: graphite
- Region: australia\_nt
- Reported Region: Northern Territory
- Ticker: KNG

#### Resource scope

- Estimate type: resource
- Reporting standards: jorc
- QP Signed: Yes
- Qualified person names: Mr Grant Louw, Dr Andrew Scogings
- Resource group id: resource:9011f88a50db0fbfae4b
- Mining method: combined
- Resource basis: gross

#### Resource Data

- Category: indicated
- Tonnes: 12300000
- Grade: 7.9
- Grade Unit: % TGC
- Contained Metal: 1
- Contained Unit: mt

#### Prior Estimate

- Resource Date: 2025-04-08

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-30T00:00:00.000Z

Reasoning: The Indicated Resource provides a high-confidence base for the Leliyn Graphite Project, supporting further economic studies with a good average grade.

- Positive factor: High confidence resource category

- Positive factor: Good grade for graphite

- Positive factor: Supports Pre-Feasibility Study

Evidence · table

> 12.3

Context: Indicated

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**JORC Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard.

Why it applies: reporting\_standards includes jorc

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/kng-annual-report-to-shareholders--1a062aa3-6a05-4134-8e0d-8b3b70359869#fact-resource-facts-1)

Leliyn Graphite Project · graphite

#### Identity

- Project: Leliyn Graphite Project
- Commodity: graphite
- Region: australia\_nt
- Reported Region: Northern Territory
- Ticker: KNG

#### Resource scope

- Estimate type: resource
- Reporting standards: jorc
- QP Signed: Yes
- Qualified person names: Mr Grant Louw, Dr Andrew Scogings
- Resource group id: resource:d134cf57502207ad65e2
- Mining method: combined
- Resource basis: gross

#### Resource Data

- Category: inferred
- Tonnes: 180200000
- Grade: 7.2
- Grade Unit: % TGC
- Contained Metal: 13
- Contained Unit: mt

#### Prior Estimate

- Resource Date: 2025-04-08

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-30T00:00:00.000Z

Reasoning: The Inferred Resource significantly increases the overall scale of the Leliyn Graphite Project, although it represents a lower confidence category requiring further drilling.

- Positive factor: Large tonnage adds significant scale to the project

- Positive factor: Good grade for graphite

- Negative factor: Lower confidence resource category

Evidence · table

> 180.2

Context: Inferred

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**JORC Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard.

Why it applies: reporting\_standards includes jorc

### Fact 3

[Link to this fact](https://atlas-staging.minestarters.com/news/kng-annual-report-to-shareholders--1a062aa3-6a05-4134-8e0d-8b3b70359869#fact-resource-facts-2)

Leliyn Graphite Project · gallium

#### Identity

- Project: Leliyn Graphite Project
- Commodity: gallium
- Region: australia\_nt
- Reported Region: Northern Territory
- Ticker: KNG

#### Resource scope

- Reporting standards: jorc
- QP Signed: Yes
- Qualified person names: Richard Maddocks
- Resource group id: resource:d7602508651a4540d8f5
- Mining method: combined
- Resource basis: gross

#### Resource Data

- Tonnes: 190000000
- Grade: 20
- Grade Unit: ppm Ga2O3
- Contained Metal: 3800
- Contained Unit: t

#### Prior Estimate

- Resource Date: 2025-07-09

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-30T00:00:00.000Z

Reasoning: The Gallium Exploration Target highlights significant potential for a valuable byproduct, though its conceptual nature means further exploration is required to define a resource.

- Positive factor: Identifies potential for a valuable byproduct

- Positive factor: Adds to overall project value proposition

- Negative factor: Conceptual nature, insufficient exploration to estimate a Mineral Resource

Evidence · table

> 190,000,000

Context: Low

#### Tags used in scoring

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**JORC Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard.

Why it applies: reporting\_standards includes jorc

### Fact 4

[Link to this fact](https://atlas-staging.minestarters.com/news/kng-annual-report-to-shareholders--1a062aa3-6a05-4134-8e0d-8b3b70359869#fact-resource-facts-3)

Leliyn Graphite Project · gallium

#### Identity

- Project: Leliyn Graphite Project
- Commodity: gallium
- Region: australia\_nt
- Reported Region: Northern Territory
- Ticker: KNG

#### Resource scope

- Reporting standards: jorc
- QP Signed: Yes
- Qualified person names: Richard Maddocks
- Resource group id: resource:8592166125cc715dd141
- Mining method: combined
- Resource basis: gross

#### Resource Data

- Tonnes: 195000000
- Grade: 25
- Grade Unit: ppm Ga2O3
- Contained Metal: 4875
- Contained Unit: t

#### Prior Estimate

- Resource Date: 2025-07-09

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-30T00:00:00.000Z

Reasoning: The Gallium Exploration Target highlights significant potential for a valuable byproduct, though its conceptual nature means further exploration is required to define a resource.

- Positive factor: Identifies potential for a valuable byproduct

- Positive factor: Adds to overall project value proposition

- Negative factor: Conceptual nature, insufficient exploration to estimate a Mineral Resource

Evidence · table

> 195,000,000

Context: High

#### Tags used in scoring

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**JORC Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard.

Why it applies: reporting\_standards includes jorc

### Fact 5

[Link to this fact](https://atlas-staging.minestarters.com/news/kng-annual-report-to-shareholders--1a062aa3-6a05-4134-8e0d-8b3b70359869#fact-resource-facts-14)

#### Identity

- Region: australia\_nt
- Reported Region: Northern Territory
- Ticker: KNG

#### Resource scope

- Reporting standards: jorc
- Mining method: combined
- Resource basis: gross

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-30T00:00:00.000Z

Reasoning: The successful placement raised significant capital, demonstrating investor confidence and providing essential funding for the company's project advancements.

- Positive factor: Successful capital raise

- Positive factor: Provides funding for ongoing work programs

- Positive factor: Strong support from major shareholders

Evidence · text

> The Placement raised A$1,624,072 \(before costs\) through the issue of 13,533,935 ordinary shares at A$0.12 per share.

#### Tags used in scoring

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**JORC Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard.

Why it applies: reporting\_standards includes jorc

**No Contained Metal**

Polarity: negative

Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained\_metal was not reported

### Fact 6

[Link to this fact](https://atlas-staging.minestarters.com/news/kng-annual-report-to-shareholders--1a062aa3-6a05-4134-8e0d-8b3b70359869#fact-resource-facts-15)

#### Identity

- Region: australia\_nt
- Reported Region: Northern Territory
- Ticker: KNG

#### Resource scope

- Reporting standards: jorc
- Mining method: combined
- Resource basis: gross

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-30T00:00:00.000Z

Reasoning: The oversubscribed Share Purchase Plan successfully raised additional capital, reflecting strong support from existing shareholders for the company's strategy.

- Positive factor: Oversubscribed, indicating strong retail investor support

- Positive factor: Provides additional funding for projects

Evidence · text

> On 5 November 2025, the Company completed its SPP, which was strongly supported and received oversubscribed applications. The SPP raised A$543,000 \(before costs\) through the issue of 4,525,000 fully paid ordinary shares at A$0.12 per share.

#### Tags used in scoring

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**JORC Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard.

Why it applies: reporting\_standards includes jorc

**No Contained Metal**

Polarity: negative

Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained\_metal was not reported

## Metallurgical Results (1)

### leaching

[Link to this fact](https://atlas-staging.minestarters.com/news/kng-annual-report-to-shareholders--1a062aa3-6a05-4134-8e0d-8b3b70359869#fact-metallurgical-facts-13)

Leliyn Graphite Project · gallium

#### Identity

- Project: Leliyn Graphite Project
- Commodity: gallium
- Region: australia\_nt
- Reported Region: Northern Territory
- Ticker: KNG

#### Test Work

- Program Status: detailed
- Test Type: leaching
- Processing Route: roasting, water leach, HCl leach
- Sample: graphitic schist sample \(after graphite and sulphides removed\)

#### Recovery

- Recovery: 94.4 %
- Recovery Basis: actual\_test
- Head Grade: 21
- Head Grade Unit: ppm Ga

#### Lab

- Laboratory: SGS Australia owned Metallurgy Pty Ltd
- Consultant: SGS owned Independent Metallurgical Operations Pty Ltd \(IMO\)

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-30T00:00:00.000Z

Reasoning: The exceptional 94.4% gallium recovery rate from testwork confirms its potential as a valuable byproduct, significantly enhancing project economics and supporting its inclusion in the PFS, though further larger-scale variability testwork is needed.

- Positive factor: Exceptional recovery rate for gallium

- Positive factor: Confirms potential for valuable byproduct

- Positive factor: Supports incorporation into PFS

- Negative factor: Testwork conducted on a small sample \(50g\)

- Negative factor: Single composite tested

- Negative factor: Bench scale only

Evidence · table

> 94.4%

Context: Total

#### Tags used in scoring

**POX/BIOX Route**

Polarity: neutral

Definition: Pressure or bio-oxidation for refractory ore — high CAPEX and OPEX.

Why it applies: processing\_route matches the pox\_biox signal

## How Atlas produces this analysis

Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.