Misima divestment
Kingston completed the divestment of the Misima Gold Project to Ok Tedi Mining Limited in July 2025. The transaction strengthened Kingston’s financial position and enabled the Company to focus on Mineral Hill and its Australian gold and copper strategy.
Consideration structure
A$95 million total consideration.
Kingston agreed to sell the Misima Gold Project in Papua New Guinea to Ok Tedi Mining Limited on 20 May 2025, and the sale completed in July 2025. Proceeds on completion allowed full repayment of Kingston’s A$15 million debt facility and funded investment at Mineral Hill.
- A$50m
- Cash received on completion, July 2025
- A$10m
- Deferred cash payment received July 2026
- A$10m
- Payable on a positive Final Investment Decision by Ok Tedi to develop Misima
- 0.5% royalty
- Gross revenue royalty after 500,000 ounces of gold produced, subject to an A$25 million buy-back right
The remaining consideration is contingent: the FID payment depends on a positive Final Investment Decision by Ok Tedi, and the royalty applies only to production after 500,000 ounces, with Ok Tedi able to buy it back at any time for A$25 million.
ASX announcements
The Misima transaction on the record.
- Misima Gold Project Sold to Ok Tedi for $95 Million, 20 May 2025ASX
- Investor Presentation: Misima Divestment and Corporate Outlook, 20 May 2025ASX
- Condition Precedent for Misima Sale Fulfilled, 3 July 2025ASX
- Kingston Receives $50 Million from Misima Divestment, 11 July 2025ASX
- Kingston Receives $10M Misima Payment, 13 July 2026ASX