Kairos Minerals Ltd has received the final $10 million payment from PLS Group Ltd for the Mt York Gold Project, bringing their cash balance to approximately $35 million. The payment was triggered by the grant of PLS’ mining lease M45/1307 on January 22, 2026, and includes a 2% gross revenue royalty to Kairos.

Chairman Simon Lill stated that the strengthened balance sheet will support de-risking activities at Mt York, including pre-feasibility work and expanded exploration. This includes exploring 367 km² of PLS tenements and 168 km² of the Pincunah licences and application, focusing on the prospective belt around Mt York.

Kairos outlined next steps such as reviewing and releasing results from the Main Hill Extension drilling program, compiling geological and assay data for an updated Mineral Resource Estimate, completing mineral resource estimation over the entire Mt York Gold Project, engaging with PLS on a mining lease application, and appointing key study personnel for pre-feasibility work.

Read more at Yahoo Finance: Kairos receives final $10m Mt York sale payment from PLS, cash rises to ~$35m