Why Kingsland Minerals (ASX:KNG) Is in Settlement Talks With Quinbrook While Exploring Graphite and Lithium

Sonal Goyal

19 October 2026 11:14 PM AEDT

Why Kingsland Minerals (ASX:KNG) Is in Settlement Talks With Quinbrook While Exploring Graphite and Lithium

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Kingsland Minerals (ASX:KNG) is a Western Australian explorer with graphite, uranium and lithium-related projects. The development that stands out in recent disclosures is not drilling but a dispute with a shareholder: Quinbrook Asset Management lodged an application with the Takeovers Panel, and the two parties have since signed a deed of settlement.

The Takeovers Panel sequence

In a 9 July 2026 announcement authorised by Kingsland's board, the company set out the timeline. Quinbrook, acting for its Critical Resources Strategy, lodged a Takeovers Panel application on 4 June 2026. The Panel declined to conduct proceedings on 19 June. Quinbrook sought a review on 23 June. On 3 July Kingsland and Quinbrook signed a deed of settlement, Quinbrook withdrew its review application, and the Panel consented to the Withdrawal on 8 July.

Kingsland said the parties would continue discussions under the deed and that it would update shareholders on any material developments. The announcement did not describe offer terms, a price or any bid structure, so none should be assumed. Earlier ASX notices show Quinbrook changing its substantial holding in November and December 2025.

What the company does

Kingsland listed on the ASX in September 2022 and explores critical minerals for the energy transition. The Leliyn Graphite Project is described as its flagship, alongside the Cleo Uranium Project and the Allamber Project, which targets copper, gold and uranium. The company also started a new exploration programme at Lake Johnston in March 2026.

Recent exploration news

The ASX announcement list shows several technical releases in 2026. On 10 March the company reported outstanding surface assays from Leliyn. On 9 April it said testwork showed gallium emerging as a valuable by-product. On 4 May it reported high-grade lithium soil anomalies at Lake Johnston.

These are early exploration and testwork results. Soil anomalies indicate where further work may be warranted, and by-product testwork is not a resource estimate. In December 2025 the company said Leliyn graphite would be assessed for Downstream processing, which is a study intention rather than a result.

Funding and corporate matters

Kingsland received an R&D tax incentive for the 2024 financial year, announced on 6 July 2026, and lodged its quarterly Cash Flow report on 30 July 2026 and Annual Report on 30 September 2026. The figures in those documents were not reviewed for this draft, so cash and burn are not stated. The same filing list shows the expiry of listed options (KNGO) on 1 October 2026 and a notice of Annual General Meeting on 16 October 2026, with resolutions including a Placement Facility approval. A placement facility could allow new shares to be issued, which may dilute existing holders.

Risks

Exploration carries geological, funding and permitting risk. Graphite and lithium prices are volatile, and downstream processing is capital-intensive. The Quinbrook discussions are a further uncertainty because their outcome is unknown.

FAQs

Q: What happened between Kingsland Minerals (ASX:KNG) and Quinbrook at the Takeovers Panel?

A: Quinbrook lodged a Takeovers Panel application on 4 June 2026, which the Panel declined on 19 June, and sought a review on 23 June. On 3 July the parties signed a deed of settlement and Quinbrook withdrew its review application.

Q: Has the Kingsland and Quinbrook settlement involved any offer terms?

A: Kingsland's 9 July 2026 announcement did not describe offer terms, a price or any bid structure. The company said discussions would continue under the deed and it would update shareholders on material developments.

Q: What is Kingsland's flagship project?

A: The Leliyn Graphite Project is described as Kingsland's flagship, alongside the Cleo Uranium Project and the Allamber Project. In April 2026 the company said testwork showed gallium emerging as a valuable by-product at Leliyn.

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