KGL Resources secures US$300M funding milestone. The Australian copper developer has entered a precious metals purchase agreement with Wheaton Precious Metals International to fund construction of its Jervois copper project in the Northern Territory. The deal includes US$275 million upfront consideration plus US$25 million for cost overruns, with US$32 million available immediately and US$243 million released upon achieving construction milestones. KGL shares jumped 25 percent to 26.3 cents on the announcement. This represents Wheaton's first Australian streaming transaction and positions KGL to become a major domestic copper producer, with the company expecting to break ground soon and provide updated capital cost projections by May 2026.
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