Kingston Resources Limited (ASX: KSN) has confirmed the receipt of a $10 million deferred cash payment from Ok Tedi Mining Limited. This payment is directly associated with the sale of the Misima Gold Project, an agreement that the company first disclosed to the market on May 20, 2025.

The successful collection of these funds provides a significant boost to the company's current cash position as the project transitions toward a potential operational restart under the stewardship of Ok Tedi and its subsidiary, Misima Minerals Limited. Ok Tedi remains actively engaged in development activities at the site.

Managing Director Andrew Corbett noted that the cash infusion validates the ongoing value generated from the asset sale. He emphasised that the firm maintains a clear path toward further financial benefits linked to the future development of the project.

"Receipt of the Deferred Cash Payment further strengthens Kingston's balance sheet and reflects the continued value being realised from the sale of the Project. Kingston retains meaningful upside to Misima through the FID payment and the Royalty as Ok Tedi progresses the Project through development and future production restart." — Andrew Corbett, Managing Director

Looking ahead, the company remains eligible to collect additional consideration as the project advances. The primary upcoming catalyst is a $10 million cash payment, which is contingent upon Ok Tedi reaching a positive Final Investment Decision (FID) regarding the redevelopment of the site.

Beyond the FID milestone, the company holds a 0.5% uncapped gross revenue royalty covering all gold and copper production from the project. This royalty interest activates once the project achieves a threshold of 500,000 ounces of gold production. Additionally, the agreement includes a provision that grants Ok Tedi the option to buy back this royalty at any stage in the future. Should the purchaser choose to exercise this right, it would trigger a $25 million cash payment to the company. These future financial levers ensure the firm keeps an economic interest in the long-term success of the project as it moves toward potential commercial production.

Read the full announcement: Kingston Receives $10M Misima Payment