Proactiveinvestors RSS feed en Sat, 22 Jul 2017 10:47:13 -0400 Genera CMS (Proactiveinvestors) (Proactiveinvestors) <![CDATA[News - Kincora Copper welcomes private equity mining fund as cornerstone investor ]]> Kincora Copper Ltd (CVE:KCC) is to raise C$6mln through a non-brokered private placement of units at 33 cents a pop.

Each unit will comprise one common share and one-half of a share purchase warrant. Each half-share warrant, when paired with another, will entitle the holder to purchase a Kincora common shares at a cost of 44.5 cents.

Those taking up the shares include one of the largest mining private equity specialist funds, which has agreed to pump C$1.5mln into the company, making it a cornerstone investor in the copper explorer, which is valued at C$13.9mln.

“I am delighted that we have attracted a lead order from such an industry group, with it's due diligence process providing validation of our exciting dual exploration and expansion strategy, with strong support also from insiders, many existing and new shareholders,” said Sam Spring, president and chief executive officer of Mongolia-focused Kincora.

Funds from the share issue will finance drill testing and reconnaissance in the Southern Gobi Devonian copper gold belt.

Funds from the share issue will fund the first modern systematic Tier 1 drill testing and district scale reconnaissance exploration program in the under-explored Southern Gobi Devonian copper gold belt.

This provides for an extensive two-phase drilling program at the East TS and Bayan Tal targets, which are the first new Devonian targets since Oyu Tolgoi, Kincora said.

READ Kincora's new Mongolia licence on trend with Oyu Tolgoi

The cash raised will also allow Kincora to develop its earlier stage pipeline prospects, and to undertake opportunistic and counter-cyclical expansion activities benefiting from its proprietary knowledge of the copper belt.

The company also noted in its stock market announcement that mining heavyweight Rio Tinto has resumed regional drilling for the first time in five years at a target next door to Kincora’s Red Well licence.

Rio Tinto also plans to drill other new ground they have secured on the Devonian trend towards Kincora’s Bayan Tal target.

“Such news is a positive validation of Mongolia as a jurisdiction and the potential of other major discoveries in this belt where we hold a dominant 1437 km2 landholding," Spring said.

Fri, 07 Jul 2017 09:05:00 -0400
<![CDATA[News - Kincora Copper enlarges footprint with new copper-gold exploration licence ]]> Mongolia-focused Kincora Copper Ltd (CVE:KCC) has enlarged its footprint - with the receipt of a new copper-gold exploration licence adjoining one of its exploration licences.

The new 20 sq km Shavagtai licence is the second Kincora has secured via the direct application system since 2015 and is adjacent to the Bayan Tal target on the 403 sq km Khuren Tsav licence.

READ - Will Kincora Copper be the next 10 bagger copper explorer? WATCH - Kincora Copper boss keen to get drills turning in Mongolia within six months

There, previous results includes 18 metres at 0.75% copper equivalent in a trench and 18 m at 0.66% copper equivalent.

A five-year moratorium on issuing new exploration licences ended in the second half of 2015.

Sam Spring, Kincora's president and chief executive, said the Bayan Tal target was "one of the most advanced and prospective untested intrusive complexes in the Oyu Tolgoi-Tsagaan Suvarga Devonian copper belt".

"The new licence, in addition to the issuance of our Red Well licence last year (noting drilling activities currently ongoing on an adjacent licence by large scale incumbent), further demonstrates Kincora's ability to pick up prospective exploration land in Mongolia.

"Discussions remain ongoing for more advanced and/or strategically important new opportunities to provide further scale and continue our counter-cyclical expansion and exploration strategy.

"There has been a noticeable increase in activities in the belt, with increasing exploration and drilling activities, incumbents expanding land holdings and new entrants undertaking due diligence.

"Post the IBEX transaction being completed late last year further additions of strategic land and divestments of less prospective licences will be part of Kincora's ongoing strategy and has become possible since favourable changes to the Mongolian mining sector's legislative environment.

"Following recent exploration activities, 103 square kilometres of unprospective ground has been voluntarily relinquished as we undertake the first modern systematic Tier 1 drill testing and district scale reconnaissance exploration program the world-class, underexplored Southern Gobi Devonian copper gold belt."

Kincora shares shed 5.41% in Toronto to stand at $0.35.

Thu, 08 Jun 2017 14:57:00 -0400
<![CDATA[News - Kincora holder Ivanhoe Industries owns 9.62% of shares ]]> High Power Ventures Inc., an affiliate of Ivanhoe Industries LLC, has reduced its stake in Kincora Copper (CVE:KCC) shares to 9.62% the company declared on Monday.

Previously, High Power Ventures was the registered holder of 5,895,000 Kincora shares, representing 11.65% of Kincora's current issued and outstanding shares. High Power Ventures was also the registered holder of 2,947,500 common share purchase warrants.

On March 10, Ventures distributed, for no consideration, 1,210,975 Kincora shares to one of Ventures' largest shareholders.

Following the initial distribution, Ventures' ownership of Kincora common shares has decreased by 2.39% of Kincora's outstanding securities. Ivanhoe Industries, through Ventures as the registered holder, and additional shares it owns through an affiliate, is now the beneficial owner of 4,870,856 Kincora common shares, representing 9.62% of the outstanding Kincora common shares.

Assuming the exercise of the warrants in full, Ivanhoe Industries would be deemed to beneficially own approximately 14.60% of Kincora's then outstanding common shares.

Ventures intends to continue distributing the Kincora shares it holds to its shareholders until it no longer owns any Kincora common shares.

Mon, 13 Mar 2017 16:13:00 -0400
<![CDATA[News - Kincora Copper issues shares in lieu of cash for services rendered ]]> Kincora Copper Ltd (CVE:KCC) has issued shares in lieu of cash to pay for services rendered.

The shares have been issued at an assumed price of 42.5 cents a pop to certain directors, officers and service providers for services received in the final quarter of last year.

In all, just over a quarter of a million shares were issued. The shares are subject to a four-month holding period that will expire on 23 June.

The company has also issued 186,831 shares to an affiliate of High Power Ventures at an assumed price of 34.5 cents each in repayment of loans.

These holding period for these shares expire on 2 July.

"Following the Ibex transaction and appointment of the new technical team, Kincora has implemented remuneration packages where the technical committee and board receive over 70% of total compensation in shares, issued quarterly in arrears,” explained Sam Spring, president and chief executive officer of Kincora.

Read Kincora unit reregisters Ibex licenses in its name

"The team in place has a unique track record of Tier 1 copper porphyry success, expansion and operating activities in Mongolia, and such remuneration packages provides skin in the game, remuneration aligned with shareholders and supports capital constrained budgets maximizing value-add activities. The company also has high insider ownership with the board, technical and advisory teams representing over 45% of outstanding common shares,” Spring continued.

"As initial field season activities continue and preparations advance looking to drill two targets with geological models analogous to the nearby large-scale copper mines, Kincora is attending PDAC (Prospectors & Developers Association of Canada), with further marketing later in the month to increase awareness of our exploration and expansion strategy following completion of the Ibex transaction only last quarter," Spring concluded.

Fri, 03 Mar 2017 10:15:00 -0500
<![CDATA[Media files - Kincora Copper boss keen to get drills turning in Mongolia within six months ]]> Fri, 17 Feb 2017 07:26:00 -0500 <![CDATA[News - Will Kincora Copper be the next 10 bagger copper explorer? ]]> With a new vibrancy towards the resource sector obvious at the VRIC and Indaba conferences so far this year and copper firmly in a bull market it appears the worst of the previous 5-year down cycle is behind us. 

There are even signs of improving investor sentiment towards exploration with those who have lived through previously cycles remembering that the exploration sector provides highest outperformance in a new cycle.

Indeed, when you look at some of the new copper exploration plays that were busy during the downturn setting the foundation for the cycle to turn you can see why investors are looking for the next up and comer, potential 10 bagger plus.

SolGol, just 20 holes into drilling its greenfield Cascabel copper-gold porphyry project in Ecuador, has returned over 20 times to shareholders in the last year. It now has a £600 mln market cap, having raised US$54 mln in September last year with approaches from industry players such as Newcrest and BHP.

Cordoba Minerals’ share price has increased over 14 times since Robert Friedland’s High Powered Exploration’s (HPX) strategic investment in the post discovery San Matias project, and this is despite HPX now owning 65% at the asset level.

It is with this background in mind that we recently spoke to CEO of Kincora Copper (CVE:KCC), Sam Spring, for an update to see where he is at with Kincora’s exploration plans, given the drill season is coming around again soon after the harsh Mongolian winter.

Kincora too has been busy of late setting the foundations for an upswing in the cycle. Only in the last quarter its has announced an exceptional Tier 1 copper porphyry team, consolidated the dominant land position in the emerging gold-rich Southern Gobi copper belt and undertaken an opportunistic capital raising with a leading natural resource institution.

The region boasts Rio Tinto’s (LON:RIO) largest global expansion project, the Oyu Tolgoi mine, as a neighbour and is one of the most prospective remaining frontiers for copper exploration.

With its transaction with IBEX, a Friedland-controlled private entity, Kincora overtakes Rio Tinto controlled entities being the largest accumulator of new exploration ground in this belt during the downturn. .

“We’re pretty sure we’ll be drilling two targets this field season,” says Spring, “and these are two analogous to the nearby large scale copper mines in the belt, Oyu Tolgoi and Tsagaan Suvarga.”

Kincora’s wholly owned targets are Bayan Tal and East Tsagaan Suvarga, the latter otherwise known as East TS.

Bayan Tal is a large scale target with confirmed Oyu Tolgoi (“OT”) style stratigraphy, the first target in the belt since OT with such attributes, and known mineralization on the margin of the interpreted system, including 18 metres at 0.66% copper equivalent (IBEX hole 6) and 0.75% copper equivalent (trench).

East TS is a brownfield open pit target being only 13km from the existing Tsagaan Suvarga open pit which has over 300 million tonnes atgreater than 0.5% copper, situated within the same intrusive system.

The geologists have just recommenced initial field works, looking to expand the target zone at East TS. Following this Spring is hoping to present work programs and “use of funds” proposals to the board in March.

That board is now slightly beefier and punchier than it was at the start of the year, following the appointment of two new directors: Luke Leslie as chairman, and John Holliday as non-executive technical director. The changes reflect Kincora’s two-pronged strategy of exploration and further expansion.

Leslie’s a specialist financier and deal maker, while Holliday is expert at the discovery and evaluation of concealed copper porphyries, particularly large ones like Cadia or Wafi-Golpu,  the kind Kincora is targeting and of the kind that made Oyu Tolgoi famous.

The company has just completed on a C$500,000 private placing it announced at the end of last year, so the funds are at least now in place for Spring to take his plans to the board.

 “Exploration creates a huge amount of wealth if you get it right,” says Spring. “We have been busy in a relatively short period creating the foundations for a big 2017, systematically advancing our new district scale multi-target, multi-stage pipeline up the value curve with two targets now to the point of drilling. These two targets have a lot of similar attributes to the two large-scale mines in our immediate belt.  Encouragement for our geological models this field season would likely being a major value add milestone, particularly in light of the share price performance of some other recent copper exploration plays..

However, unlike other recent copper success stories, like SolGold and Cordoba, Kincora has consolidated the dominant position in the belt, and now looking to make a discovery, or two given the scale of our portfolio. These other groups have made the discovery and are now looking at the next one and consolidating their respective districts.”  

.”The objective for this year is to find some copper, and support our analogies,” says Spring. “It’s time to get on with that.”

While the copper price is already up over 30% in recent months many are expecting further gains as the global market swings to a deficit for the first time since 2011, driven by sustained demand from China, the unknown Trump factor, new copper supply from the last cycle having peaked, continued supply disruption at the world’s two biggest copper mines and potentially flowon effects to other existing operations.

M&A through the downturn of the cycle and overweight exploration budgets reflect the industry’s bullish view of incentive and future pricing for copper.

It appears those few copper juniors with new real exploration plays are well positioned as investors refocus on the favourable structural outlook for copper.

With this in mind, Kincora is one to keep on the watch list as it looks to drill two targets that are analogies to the existing two large-scale mines in the world-class Southern Gobi copper belt.  

Exploration success could support it quickly moving into the leagues of SolGold or Cordoba. 



Wed, 15 Feb 2017 10:54:00 -0500
<![CDATA[News - Kincora to drill two targets in the next six months ]]> Explorer Kincora Copper Ltd (CVE:KCC) has resumed field activities as it looks to expand the near surface target area at its Mongolian prospects.

The company has completed analysis of two high priority drill targets: Bayan Tal, an Oyu Tolgoi-style (OT) target; and East Tsagaan Suvarga (East TS), a brownfield Tsagaan Suvarga-style (TS) target.

A better understanding of surface geology at East TS and further modelling of ground magnetics at Bayan Tal is expected to refine drilling programs under shallow and shallow-to-moderate cover at the respective projects, Kincora said

Read Will Kincora Copper be the next 10 bagger copper explorer?

"Kincora's exploration strategy is to advance the portfolio along the development curve,” said Sam Spring, president and chief executive officer of Kincora said.

“In the next six months this is expected to include drilling two targets that provide analogies to the existing two large-scale copper mines in the belt with encouragement of our geological models likely being a major value-add milestone,” Spring said.

“The team is continuously looking to improve the quality of our landholding through the addition of new strategically important licenses and ground that does not fit our target exploration profile will be relinquished. We are in the favorable position of currently exploring to confirm additional scale potential at our East TS target, after which we will provide further details on our plans for the 2017 field season," he revealed.

Shares in Kincora were up 1.1% at C$0.465.

Wed, 15 Feb 2017 10:30:00 -0500
<![CDATA[News - Kincora Copper closes $532,584 private placement, updates on hold period ]]> Kincora Copper (CVE:KCC) has received the acceptance of the TSX Venture Exchange for its previously disclosed private placement of 1,543,720 shares at 34.5 cents per share (gross proceeds of $532,584) and updated on the holding period.

Notwithstanding the company’s statement in December where the shares were to be issued with a four-month hold period expiring on April 21, the shares issued in the private placement are subject to a four-month hold expiring on June 11, 2017.

Mon, 13 Feb 2017 14:08:00 -0500
<![CDATA[News - Kincora strengthens board with two new additions ]]> Mongolia-focused explorer Kincora Copper Ltd (CVE:KCC) has strengthened its board of directors with the appointment of a new chairman and technical director.

Luke Leslie, who has been involved with Kincora since its formation, will take on the position of non-executive chairman.

He has previous M&A and capital market transaction experience, including in Mongolia where he has worked on acquisitions in the mining and metals sector.

The other new addition to the board is John Holliday who will step up from his current position as chair of Kincora’s technical committee to become the independent non-executive technical director.

John has a “track record of success” in gold-copper deposit exploration and discovery, particularly within concealed porphyries such as those that the Oyu Tolgoi-Tsagaan Suvarga copper belt – where Kincora has several assets – is prospective for.

“Luke and John have impressive track records in their respective fields and I am confident the new internal positions will only further support significant contributions to Kincora’s exploration and expansion strategies,” said Kincora President and chief executive Sam Spring.

Wed, 01 Feb 2017 09:16:00 -0500
<![CDATA[News - Latest test results liken Kincora’s copper prospect to Oyu Tolgoi ]]> The latest round of testing at Kincora Copper Ltd’s (CVE:KCC) East Tsagaan Suvarga (East TS) target has confirmed that the prospect shares similar characteristics with one of the largest porphyries in the world.

It had long been thought that the East TS copper target in Mongolia shared similarities with the nearby Oyu Tolgoi deposit, with the results of recent age dating and fertility discrimination analysis confirming this.

“New analysis undertaken last field season has shown Tsagaan Suvarga can be classified as a Devonian quartz monzodiorite system, essentially identical to the high-grade orebodies at Oyu Tolgoi, and our East TS target is part of this suite,” said President and chief executive Sam Spring.

“This further supports East TS as a priority target area and has important implications to future regional exploration.”

Kincora also told investors that it is in the process of finalising its plans for the upcoming field season.

Mongolia’s South Gobi desert – where the East ST sits – is generally recognised as one of the last underexplored copper frontiers in the world and is within trucking distance of the world’s largest copper consumer – China.

Tue, 10 Jan 2017 09:05:00 -0500
<![CDATA[News - Kincora grants options to buy 2.05mln shares ]]> Kincora Copper (CVE:KCC) has granted to directors and officers a total of 2,056,300 stock options under the company's stock option plan.

The options have a four-year term from issuance date, with 50% of the total being exercisable at a price of 43 cents per share and the other 50% of the total being exercisable at 54 cents per share. The options will vest over a four-month period from the issuance date.

Tue, 03 Jan 2017 14:00:00 -0500
<![CDATA[News - Kincora Copper closes C$532,584 private placement ]]> Kincora Copper (CVE:KCC) has closed its non-brokered private placement for gross proceeds of C$532,584 through the issuance of 1,543,720 shares at a price of 34.5 cents per share, the company said on Wednesday.

Alongside the closing of the non-brokered price placement, 186,831 shares have been issued to HPX Techco Inc., an affiliate of High Power Ventures, on account of loans made in the course of the IBEX transaction.

Proceeds from the offering will be applied to the advancing Kincora's exploration portfolio, which includes a unique multitarget, multistage pipeline, between and on strike from Rio Tinto's (NYSE:RIO) largest global expansion project, the Oyu Tolgoi mine, and the Tsagaan Suvarga Serven Sukhait development project in the southern Gobi, Mongolia, and for working capital.

All shares issued are subject to a four-month hold period expiring on April 21, 2017.

"The raising and conversion of a small loan to HPX into equity caps off a busy period. Since last month, we closed the IBEX transaction to consolidate the dominant regional landholding in the southern Gobi copper belt, announced our new team with an exceptional track record with Tier 1 porphyries, concluded field season activities, and started outlining our priority exploration targets and strategy to create value for shareholders,” said Sam Spring, president and chief executive officer.

The company paid finder's fees of $4,201 in connection with the offering.

Kincora shares were up 9% at C$0.42 on Wednesday.

Wed, 21 Dec 2016 15:51:00 -0500
<![CDATA[News - Kincora increases private placement to C$600,000 ]]> Mongolia-focused metals explorer Kincora Copper Ltd (CVE:KCC) is increasing the size of its private placement to C$600,000 from a previous ceiling of $500,00, after receiving high demand, the company said.

All other details remain the same. Read more.

The company has previously said that if the funding is oversubscribed this private placement will close on or around December 19.

Fri, 16 Dec 2016 09:30:00 -0500
<![CDATA[News - Kincora Copper set to raise up to $500,000 in private placing ]]> Mongolia-focused metals  explorer Kincora Copper Ltd (CVE:KCC) is set to raise up to $500,000 via a  placing at $0.345 per share to be used for exploration and working capital.

If the offering of over 1.449mln shares  is over-subscribed, shares will be allotted on a first come first served basis and it is  expected that this private placement will close on or round December 19 this year, the company said.

Kincora also today said it had agreed to settle debt of US$48,576 via a share issue.

It will issue 186,831 shares to HPX Techco Inc - an affiliate of High Power Ventures, on account of loans made in the course of the Ibex Transaction.

Thu, 08 Dec 2016 10:10:00 -0500
<![CDATA[News - Kincora Copper cuts liabilities in 2016 ]]> Kincora Copper Ltd. (CVE:KCC) said on Wednesday it has held assets unchanged but sharply cut back liabilities, as it reported third quarter results.

Assets were C$47.9mln at Sept 30, unchanged from the end of 2015, but liabilities shrank to C$401,000 from C$2.9mln at Dec 31.

Among highlights of the first nine months of calendar 2016, Kincora noted its 2015 exploration results. Field season activities focused on advancing and de-risking two coppergold open pit targets, one on our recently returned Western (Tourmaline Hills) license and the other on the Eastern (Bronze Fox) license, where previous drilling intersected promising copper and gold mineralization, surface geology and geophysics are favourable, but these targets have not been sufficiently tested and remain open.

Since the period, earlier this month the company successfully completed the closing milestone for the IBEX transaction. This follows satisfaction of all key Mongolian processes and approvals, and acceptance by the TSX Venture Exchange, with Kincora scrip (share) consideration placed into escrow pending the re-registration of the IBEX licenses being achieved. Read more.

In the three months to Sept 30, Kincora’s comprehensive loss stood at C$1.1mln, up from C$433,000 for the same period in 2015.

Wed, 30 Nov 2016 13:29:00 -0500
<![CDATA[News - Kincora unit reregisters Ibex licences in its name ]]> Kincora Copper Ltd. (CVE:KCC) said that reregistration of the mineral licences held by Ibex Land Mongolia LLC into the name of Kincora's subsidiary, Golden Grouse Ibex LLC, by the Mineral Resources, Petroleum Authority of Mongolia (MRPAM), previously known as the Mineral Resources Authority of Mongolia (MRAM), has occurred.

This is the last milestone for the Ibex transaction.

Tue, 29 Nov 2016 15:26:00 -0500
<![CDATA[Media files - Mining Capital's Ford bigs up Antofagasta, Kincora on back of Copper price surge ]]> Fri, 25 Nov 2016 12:59:00 -0500 <![CDATA[News - Kincora Copper now has a solid base from which to embark on a serious elephant hunt ]]> Copper porphyries rarely occur on their own, they occur in clusters focused on key geological structures within established belts.

This salient fact about geology lies at the root of everything that’s been done by Kincora Copper (CVE:KCC) in Mongolia’s South Gobi desert, which is generally recognized as one of the last under explored copper frontiers and a relatively attractive operating environment within trucking distance to the worlds largest consumer of copper.

The template is Chile, which hosts seven of the world’s top ten copper mines by production, all of which are porphyries. The geological model is also proven in other more mature porphyry belts.

The largest of Mongolia’s porphyries, Oyu Tolgoi, which is one of the worlds largest (and most gold-rich) has now gone into production and is being expanded after the largest project financing of its kind in the hard rock industry. A second porphyry project in this belt is in development.

But will there be others? That is the question that Kincora is seeking to answer and which it has now moved much closer to resolving, following a lengthy period of financial readjustment and project-level transformation.

In the wake of positive legislative developments and the likely impact of Oyu Tolgoi’s expansion on international investor attention towards Mongolia, a strong majority result in a Parliamentary election and a low point in the commodity cycle, it fell to Kincora to become the consolidation vehicle of choice for South Gobi copper licenses, and the vehicle of choice too for some of the best mines in copper porphyry exploration.

At the head of it all is Sam Spring, a former mining analyst of the year out of London and Australia. Spring has been plugging away in Mongolia for some years now, supported by major shareholder Origo Partners (LON:OPP) and a unique register for such a stage company.

More latterly though, High Powered Ventures (HPV), controlled by High Powered Exploration (HPX, CEO being Robert Friedland), has come onto the share register, following a deal that was done to combine the Kincora South Gobi land package with that of IBEX, a local subsidiary of HPV.

HPV is the Mongolian vehicle associated with people who discovered Oyu Tolgoi, long since taken over by Rio Tinto, but nonetheless confident they can come round for a second time and do it again.

But times have been tough in mining over the past few years and it’s been necessary for more than a few companies to club together and focus on core priorities.

Kincora picked up the IBEX licenses in scrip transaction that initially valued them at US$900,000, which looks well when set against the +US$25 mln of spend that’s been historically invested.

But it’s not just the spend, it’s the ground itself and data that comes with it.

“IBEX has the dominant position in this belt,” says Spring. “It’s great real estate but with a large and high quality dataset, between and on strike from the two copper mines in the South Gobi. This ground is prospective, although it’s pre-discovery, and you’re seeing increased similarly stage activities in the belt already, despite the current state of the commodity cycle.”

The transaction with IBEX was first announced back in May, and all things being equal, the closure of the deal on 7 November means it hasn’t actually taken that long to complete, although there was a 5 month void of news flow.

While all the boxes were being ticked and the lawyers made happy, Kincora was busy in the background pulling together an industry-leading technical team, undertaking a detailed technical review and workshop, undertaking various exploration activities and hosting other discussions for further consolidation opportunities.

Now though, the gloves can come off. Kincora raised C$1 mln in the summer at the same time as clearing off its outstanding debt to Origo and tightening up its corporate structure. That gives it plenty of room for manoeuvre when it comes to designing a work programme for the newly enlarged landholding.

The first move came on 14 November when the company announced the appointment of two leading copper porphyry experts as senior managers. Peter Leaman is a former head of BHP Billiton Mongolia, responsible for the JV with Ivanhoe in the Gobi, while John Holliday is a former chief geoscientist at Newcrest. Then there is Imants Kavalieris, one of the 6 executive exploration team during the exploration and delineation of the Oyu Tolgoi.

According to the official literature, Leaman and Holliday have “extensive exploration experience and are credited with the discovery of multiple Tier 1 assets and other economically important porphyries”, including the giant 1 Reko Diq copper-gold and and Cadia/Marsden copper-goldporphyries.

Next, says Spring, will be a reappraisal of all the combined data that now exists inside the company.

“What’s the low-hanging fruit here and what are the priorities?” he says. “There are large-scale targets that have the potential to be similar to other mines in the area. Geological expectations would say there would be two mines at least in this belt. The similar size and structural setting belt in Northern Chile has 15 copper mines.

Kincora’s Bayan Tal target sits on the right big picture geological structure, which is found in Chile, other mature porphyry belts and the two mines in the South Gobi.

“Recent activities have confirmed similar Devonian stratigraphy to Oyu Tolgoi, the first target since with such attributes that we are aware of,” says Spring.

“Advancements in geology and geophysics support multiple drill ready targets at Bayan Tal, which is one of the best candidates for a new Tier 1 porphyry discovery in the Southern Gobi.”

While there are no certainties when it comes to exploration, Spring does sounds very excited about this target and the prospect that current activities will support potentially multiple more targets like this.

And will the recent movement in the copper price have any immediate material impact on the company? It might affect sentiment in the market, but the nature of the copper deposits that Kincora is hunting means that the current comparatively low copper price isn’t as important as it might be for smaller deposits.

“The reality is that in this belt with the targets we are hunting that you’re not going to need copper to go to US$3.00 or US$4.00,” says Spring.

“But of course it’s going to take time for interest and capital to come back into the sector.”

And whilst that is happening, Kincora will be building value advancing a unique regional portfolio of targets that sit between and on strike from the two mines in the belt, all under the watchful eye of some copper experts who have a track record of knowing what they are looking for.

With some investors banking 12x on SolGold’s year to date performance, they may be looking at Kincora as the next earlier stage candidate to similarly offer Tier 1 copper porphyry potential.


Tue, 22 Nov 2016 10:59:00 -0500
<![CDATA[Media files - Kincora Copper Ltd 'excited' by targets identified at Bayan Tal in Mongolia ]]> Fri, 18 Nov 2016 08:27:00 -0500 <![CDATA[News - Kincora outlines exploration targets at Bayan Tal ]]> Kincora Copper Ltd. (CVE:KCC) said on Thursday that copper-gold porphyry mineralisation at Bayan Tal is confirmed within a large scale Devonian "Oyu Tolgoi style" complex supporting priority drilling.

The news follows hot on the heels this month that Kincora reported the successful closing of the IBEX transaction. Read more.

The company said that there were geological and geophysical activities ongoing to progress other large scale, shallow to moderate depth targets and advance a unique portfolio along the value curve.

The exploration strategy has been refined to replicate the systematic approach successfully applied in discovering similar profile Tier 1 gold rich copper porphyry discoveries.

A comprehensive workshop and field visit was concluded in September, including the Technical Committee, industry leading specialists and geologists with extensive recent experience in the gold rich Southern Mongolian copper belt. The workshop identified priority targets and built out a pipeline of regional prospects focused on the following key attributes:

Scale: Kincora's portfolio supports the advancement of potential Oyu Tolgoi and Tsagaan Suvarga (Devonian) analogues, and/or traditional gold rich finger type porphyries. Exploration activities currently are focused on replicating systematic and proven techniques that have been successful at other similar profile targets, including the Tier 1 copper-gold discoveries that the Technical Team has prior experience with.

Shallow targets: The focus is targets on the margins of half grabens and/or uplifted fault blocks where outcrop or subcrop provides a geological window to support integration of geophysical datasets to de-risk exploration.

Multi-target, multi-stage pipeline with exploration ongoing.

"Location, team and targets are the key ingredients for a successful exploration play. Since closing the IBEX transaction we have started outlining key positive developments on these fronts that differentiate and positions Kincora well moving forward, with systematic exploration advancing our targets up the value curve,” said Sam Spring, President & CEO of Kincora.

“We are excited by the targets identified at Bayan Tal, which is an extensively mineralized system, with distal copper-gold porphyry returned along its southern margin. Recent activities have confirmed similar Devonian stratigraphy to Oyu Tolgoi, the first target since with such attributes that we are aware of. Advancements in geology and geophysics support multiple drill ready targets at Bayan Tal, which is one of the best candidates for a new Tier 1 porphyry discovery in the Southern Gobi,” he added.

Thu, 17 Nov 2016 15:21:00 -0500
<![CDATA[News - Kincora adds Leaman, Holliday to exploration staff ]]> Kincora Copper Ltd. (CVE:KCC) has appointed Peter Leaman as senior vice-president of exploration and John Holliday as chairman of the newly formed technical committee.

The appointments following the successful closure of the IBEX transaction a week ago. Read more

The Technical Committee will lead exploration efforts across the expanded portfolio, which following the IBEX transaction has more than tripled in size to over 1,500km2, creating the dominant landholding in the Oyu Tolgoi-Tsagaan Suvarga Devonian copper belt, with multiple targets currently being advanced.

A workshop and field visit including Imants Kavalieris of Plus Minerals, appointed an Advisor to the Technical Committee, has been undertaken reviewing the extensive datasets and targets within the consolidated portfolio.

Industry-leading specialists and geologists with extensive recent experience in the belt, including Mike Woodbury and Tsolmon Amgaa, in addition to the Technical Committee have established a technical program and schedule to advance priority prospects and a regional pipeline of earlier stage targets, which has recently recommenced.

Kincora shares were up 1.4% at C$0.38 on Monday.

Mon, 14 Nov 2016 15:03:00 -0500
<![CDATA[News - Kincora investor Ivanhoe Industries acquires shares ]]> Kincora Copper (CVE:KCC) investor Ivanhoe Industries LLC has said that two of its affiliates, HPX Mongolia (Singapore) Pte. Ltd. and GCR Holdings Ltd. (Singapore), have completed the sale of certain assets in Mongolia to subsidiaries of Kincora by way of a merger under the share exchange agreement dated May 24.

In exchange, HPX receives 3,275,000 common shares of Kincora (KCC) and 1,637,500 common share purchase warrants of Kincora, while GCR, receives 2.62mln Kincora shares and 1.31mln warrants.

Each warrant is exercisable into a common share of KCC at a price of 54 cents per KCC share until Nov. 7, 2018, subject to certain acceleration provisions. All of the securities considered herein will be held in escrow until the reregistration of certain mineral exploration licences belonging to HPX and GCR is complete. Such reregistration is expected to occur by the end of 2016. All of the securities considered herein are registered to an affiliate of HPX and GCR.

Upon issuance of the KCC shares, Ivanhoe Industries, through HPX and GCR, will have beneficial ownership of approximately 12.12% of the then issued and outstanding KCC shares. Assuming the exercise in full of the warrants, Ivanhoe Industries, through HPX and GCR, will be deemed to beneficially own approximately 17.15% of KCC's then issued and outstanding on a partially diluted basis.

Depending on economic or market conditions, or matters relating to KCC, HPX, GCR or Ivanhoe Industries, Ivanhoe Industries may choose to either acquire additional securities of KCC or dispose of securities of KCC, including dispositions to the shareholders of HPX and GCR, in accordance with applicable laws.

Wed, 09 Nov 2016 14:13:00 -0500
<![CDATA[News - Kincora receives all approvals, closes Ibex transaction ]]> Kincora Copper Ltd. (CVE:KCC) has reached the closing milestone for the Ibex transaction in Mongolia after receiving all key Mongolian approvals, and acceptance by the TSX Venture Exchange, with Kincora scrip (share) consideration placed into escrow pending the reregistration of the Ibex licences being achieved.

As initially announced on May 25, Kincora and High Power Ventures Inc., a private company controlled by High Power Exploration Inc., have agreed to consolidate their respective Mongolian landholding and services subsidiaries into the Ibex transaction.

The transaction results in Kincora having a 100% interest in a portfolio covering over 1,500 square kilometres and the majority of the prospective exploration licences that dominate a key geological trend between and along strike from the Oyu Tolgoi and Tsagaan Suvarga (Devonian) copper mines.

Kincora now holds an industry-leading proposition of copper-gold and gold targets, and the dominant landholding in this proven but underexplored gold-rich porphyry district.

"Closing the Ibex transaction results in Kincora being the largest landholder in the belt at a time when various incumbents are again looking to increase their exploration footprint and advance exploration efforts, with increased activity of potential new entrants undertaking due diligence revisiting the Southern Gobi's copper-gold potential,” said Sam Spring, Kincora president and chief executive officer.

Tue, 08 Nov 2016 12:47:00 -0500
<![CDATA[News - Kincora Copper acquires seven mineral licences from merger ]]> The TSX Venture Exchange has approved a share exchange agreement between Kincora Copper (CVE:KCC) and High Power Ventures Inc.

The deal will see two of Kincora’s subsidiaries merge with two of HPV’s subsidiaries, giving Kincora seven more mineral exploration licences and two new licence applications in Mongolia.

As payment for the deal, Kincora will issue 5.9mln new shares at a deemed price of 22.5 cents per share, as well as 2.9mln warrants exercisable at 54 cents for the next two years.

Shares were unchanged at C$0.25.

Mon, 31 Oct 2016 12:06:00 -0400
<![CDATA[News - Kincora’s IBEX transaction passes key milestone ]]> The tax authorities in Mongolia have now approved the proposed transaction between High Power Ventures and Kincora Copper (CVE:KCC), under which respective exploration acreage prospective for copper in Mongolia will be merged.

The transaction, which was first mooted in May of this year, will create a consolidated landholding inside Kincora of over 1,500 square kilometres of ground.

The majority of this ground lies across the geological trend which hosts the massive Oyu Tolgoi copper mine found and developed by mining legend Robert Friedland and now owned by Rio Tinto (LON:RIO).

The ground is also prospective for gold.

“It is pleasing to pass this key milestone towards the completion of the IBEX transaction,” said Kincora’s chief executive Sam Spring.

“This milestone supports the transition to the next stages of completing the IBEX transaction.”




Wed, 26 Oct 2016 07:55:00 -0400
<![CDATA[News - Kincora, HPV's tax position upheld for Ibex deal ]]> Kincora Copper Ltd (CVE:KCC) provided an update on Tuesday on the Ibex transaction following sign-off from the Mongolian tax authorities, a key milestone toward the completion of the proposed mergers for the respective Kincora and Ibex subsidiaries.

The parties to the Ibex transaction, High Power Ventures Inc. and Kincora, have had their original tax position upheld, with the subsequent administration processes related to closing the transaction continuing and expected to shortly complete.

"It is pleasing to pass this key milestone towards completion of the Ibex transaction, and we look forward to providing further details on the company's near-term strategy in due course,” said Sam Spring, Kincora president and chief executive officer.

"I would like to thank all involved, including the Mongolian tax authority, who ensured this matter was addressed. This milestone supports the transition to the next stages of completing the Ibex transaction."

The transaction will result in a consolidated landholding of over 1,500 square kilometres, the majority of the prospective exploration licences which dominate a key geological trend between and along strike from the Oyu Tolgoi and Tsagaan Suvarga (Devonian) copper mines, supporting an industry-leading proposition of copper-gold and gold targets.

Ibex's portfolio was secured and targets advanced by former key executives of Oyu Tolgoi's exploration team and focused on Tier 1 gold-rich copper porphyry targets.

A large and high-quality regional geophysical and surface geochemical data set supports various style targets: (i) Devonian porphyries, (ii) traditional gold-rich copper porphyries, and (iii) epithermal and Carlin-style gold deposits.

The transaction consolidates a regional portfolio in an underexplored but potentially world-class gold-rich copper province, analogous to exploring the majority of the Northern Chile copper belt from the 1970s.

The transaction will result in a strengthened team with discovery experience and complementary skill sets for exploration through to project development internationally and in Mongolia.

Tue, 25 Oct 2016 15:16:00 -0400
<![CDATA[News - Kincora to issue 5.89mln post-roll back shares for Ibex ]]> Kincora Copper Ltd (CVE:KCC) said it will issue 5,895,000 common shares and 2,947,500 warrants with an exercise price of 54 cents and a term of 24 months.

It is intended that these securities will ultimately be held by the shareholders of High Power Ventures Inc., the largest of whom are HPX Techco as to 65.78%, a subsidiary of High Power Exploration Inc.(HPV), a private company, and GoviEx Uranium Inc., a TSX Venture Exchange-listed company, as to 21.64%.

Following the one-for-10 consolidation of Kincora Copper Ltd.'s outstanding share capital and the closing of Kincora's $1,053,060 private placement, detailed in July, Kincora is updating the terms of its share exchange agreement with HPV.

As result of the consolidation, on closing of the proposed Ibex transaction, Kincora’s shares will be issued.

Closing of the Ibex transaction remains subject to Mongolian governmental approvals, with this process in progress, and has been impacted by an adverse non-binding tax assessment. Independent advice has confirmed Kincora and HPV's original tax position in respect of the existing deal structure under Mongolian tax and corporate law, and discussions are continuing. However, to accommodate the continuing discussions with government officials, Kincora and HPV have agreed to extend the deadline for closing the Ibex transaction to Oct. 31.

Mon, 03 Oct 2016 13:37:00 -0400
<![CDATA[News - Kincora closes shares for debt of C$173,250 ]]> Kincora Copper Ltd. (CVE:KCC) has received approval of the TSX Venture Exchange to settle outstanding debt totalling C$173,250 owed by the company to seven creditors, which include five insiders, by the issuance of an aggregate of 577,500 common shares at a deemed price of 30 cents per share.

Tue, 13 Sep 2016 09:39:00 -0400
<![CDATA[News - Kincora Copper slashes debt after private placing ]]> Kincora Copper Limited (TSX:KCC) today raised C$1mln through a private placing to fund its advanced consolidation and exploration strategy, whilst slashing C$2.9mln of debt.

In the placing, the group issued just over 3.5mln shares at C$0.30.

The group’s largest shareholder Origo Partners Plc agreed to 6.6mln shares to settle an outstanding C$2mln convertible note.

Existing funds in escrowed of $500,000 have been returned to Origo and conversion of accrued interest into Kincora scrip is shortly expected, subject to TSX Venture Exchange approval and policies, as previously announced on July 27, 2016, fully settling the Origo note.

Subject to regulatory approval, it has also entered into agreements with creditors to settle debt in the aggregate amount of C$212,750 in exchange for the issuance of an aggregate of 709,167 post-consolidation shares.

This will mean Kincora has a debt-free balance sheet and funds raised from the non-brokered private placement being used to advance its exploration and consolidation strategy in the Southern Gobi copper-gold belt.

The offering and debt conversions were supported by key existing shareholders and results in a restructured and recapitalized platform for Kincora to move forward, it said.

Almost C$2.9mln of total debt (including previously escrowed funds) has been removed, with just over C$1mln of cash injected and available to support its consolidation and exploration strategy.

“Kincora now has an improved corporate structure, balance sheet, and better alignment for creating value for shareholders, with the financial requirements of the transaction with the Ibex subsidiaries also satisfied,” said president and chief executive Sam Spring.

The group reported that field season activities had resumed as certain Mongolian processes and related approvals continued to progress relating to the Ibex transaction.

“Efforts are being advanced providing for a wider succession plan regarding the board and management team, with details on general strategy to be outlined in due course following achievement of these key initial milestones of closing the private placement, debt conversions and share consolidation,” added Spring.

Fri, 29 Jul 2016 10:06:00 -0400
<![CDATA[Media files - Kincora Copper has a ‘new platform’ says CEO Sam Spring ]]> Fri, 29 Jul 2016 04:56:00 -0400 <![CDATA[News - Kincora settles accrued interest ]]> Kincora Copper Ltd (CVE:KCC), subject to the acceptance of the TSX Venture Exchange, is to settle the accrued interest on the US$2.5mln convertible note issued last October to Origo Partners PLC by the issuance of postconsolidation shares of Kincora at US30c per share.

The accrued interest to date, at 8.7% per annum on the principal of the convertible note, totals US$168,040.98, resulting in the issuance of 560,137 shares.

Earlier this month, Kincora announed it was planning a consolidation of its common shares, following shareholder approvals at the company’s annual general meeting.

Thu, 28 Jul 2016 14:23:00 -0400
<![CDATA[News - Kincora plans to amend share price in private placement ]]> Kincora Copper Ltd. (CVE:KCC) proposes to amend the terms of its non-brokered private placement, the company said on Monday.

The placement will be for up to $2mln through the issuance of up to 6,666,667 shares at a price of 30 cents per share (previously 37.5 cents per share) on a post-consolidation basis of 1:10.

Following shareholders having passed all resolutions of the recent annual general and special meeting, as announced on July 14, the company is planning a consolidation of its common shares on the basis of one post-consolidation share for 10 pre-consolidation shares, which will facilitate closing of the private placement.

Currently, a total of 314,124,452 shares are issued and outstanding. Accordingly, if the consolidation is put into effect, a total of 31,412,445 shares would be issued and outstanding, assuming there are no other changes in the issued capital of the company.

The update follows Kincora’s announcement about consolidating the share issue last week. Read more.

Mon, 18 Jul 2016 16:17:00 -0400
<![CDATA[News - Kincora Copper to consolidate share issue ]]> Kincora Copper Ltd. (CVE:KCC) is planning a consolidation of its common shares on the basis of one post-consolidation share for 10 pre-consolidation shares, the company announced on Friday.

The news follows shareholder approvals at the company’s annual general meeting on July 12.

A total of 314,124,452 shares are issued and outstanding. If the consolidation is put into effect, a total of 31,412,445 shares would be issued and outstanding, assuming there are no other changes in the issued capital of the company.

Fri, 15 Jul 2016 11:01:00 -0400
<![CDATA[News - Kincora Copper shareholders elect four directors ]]> Kincora Copper Ltd. (CVE:KCC) said on Wednesday shareholders at its July 12 meeting elected Jonathan (Sam) Spring, Eric Zurrin, Luke Leslie and Duchintav Khojgor as directors.

The company is advancing a wider review of the board and team, which will be announced in due course, encompassing the previously announced private placement and expectation of resuming exploration activities across an enlarged licence portfolio.

"Shareholder approval has been provided to consolidate the company's share capital, which is a key requirement to facilitate the closing of the non-brokered private placement, the Ibex transaction and Origo loan note conversion," said Sam Spring, Kincora's president and chief executive officer.

"Firm commitments are in place to ensure the financial requirements of the Origo loan note conversion into equity alongside the private placement and the transaction with the Ibex subsidiaries are satisfied. Postshareholder approval, Kincora is now also in a position to recapitalize its balance sheet, streamline its corporate structure and resume certain field season activities as certain Mongolian processes and related approvals continue to progress relating to the Ibex transaction."

Wed, 13 Jul 2016 14:38:00 -0400
<![CDATA[News - Kincora Copper chairman Rickus dies ]]> Kincora Copper Ltd (CVE:KCC) chairman John Rickus has died.

Rickus served on the board of Kincora from August, 2012, initially in the capacity of president and chief executive officer, before becoming chairman in 2013.

"John was a great supporter, business associate and friend to many. He leaves a long, distinguished legacy in our industry and as a member of our board of directors for which we are eternally grateful," said Sam Spring, Kincora's president and CEO. "He will be deeply missed by everyone at Kincora. We send our deepest condolences to his family."

Kincora's board of directors are convening to discuss a wider succession plan, which will be announced in due course, also encompassing the previously announced private placement and expectation of resuming exploration activities across an enlarged licence portfolio.

Mon, 04 Jul 2016 15:47:00 -0400
<![CDATA[News - Kincora looks set to secure funding for Mongolian copper-gold consolidation ]]> These are transformational times for Kincora Copper Limited (CVE:KCC), also occurring at what could be a low in terms of investor sentiment towards Mongolia.

At the end of May the company announced the consolidation of a significant swathe of ground with Ibex, a private company associated with famous mining entrepreneur Robert Friedland.

With the land comes one of the largest known regional geophysical and surface geochemical datasets globally supporting various style targets, including  “mega” (Tier 1 type) porphyry discoveries, “traditional” gold rich copper porphyries and epithermal gold deposits.

Combined with Kincora’s existing portfolio the newly amalgamated ground represents one of the most commanding land packages on what may well become the next major copper producing district in the world.

Most will know of Robert Friedland’s success with Ivanhoe Mines which helped put Mongolia on the international stage having found and sold the great Oyu Tolgoi copper-gold mine several hundred kilometres south of Ulaanbaatar, but only 80 kilometres from the border of the world’s largest consumer of copper, China. Recent resolution of a longstanding dispute over the expansion of the Oyu Tolgoi project supports a potential return to economic growth, positive FDI and investor sentiment towards Mongolia.

But Kincora chief executive Sam Spring believes that’s just the start.

A deposit like Oyu Tolgoi rarely occurs in isolation, he says. Rather, he draws a parallel with one of the world’s great copper producing nations, Chile, which began to be opened up to mining and exploration in the early 1970s.

The situation in Mongolia now is rather similar, he says. And following the consolidation of the new ground from Ibex, Kincora now holds a significant first mover advantage, controlling the majority of the prospective exploration licenses which dominate the key geological trend between and along strike from the Oyu Tolgoi and Tsagaan Suvarga copper mines.

It’s this sentiment that lies behind the recent positive uplift in Kincora shares, from a 2016 low of C$0.015 to the current C$0.045, a threefold rise.

Spring has not been slow to follow up on the potential of the land position.

At the beginning of June he announced that Kincora would be looking to raise C$2 mln in new money in parallel to converting an existing C$2 mln debt into equity.

At a stroke Spring will have wiped out all of Kincora’s debts and capitalised the company effectively to allow meaningful exploration to take place on the land package once plans are made.

It seems likely that a significant drill programme would be undertaken in the event that the majority of the money comes in, although Spring cautions that no actual decisions have yet been made.

“We’re raising money to go and do justice to the potential of this belt and start adding value from our exploration and consolidation strategy,” he says. “I’ve been speaking to various people and the general feeling is that this has got to be initially self-funded.”

By that, Spring means that existing investors and those that may or may not come on board in the current raise are of the mind that now is not the time to dilute the project upside by bringing in a partner to share the funding load.

But the question then becomes whether Spring can get to the C$2 mln that he’s aiming for.

So far, he seems hopeful that he will, but in these still relatively uncertain markets he takes comfort that there are firm commitments in place to ensure the financing component of the Ibex deal is more than bedded down. It’s helpful of course that the raise, when announced, set a C$0.0375 price per share and that since the news about the Ibex deal has sunk in the share price on the TSX-V has ticked up to a handy C$0.045 (and recent high of C$0.055).

More to the point though, existing shareholders understand the story, the potential of the Southern Gobi copper belt, Mongolia as a jurisdiction (noting US$4 billion of proceeds from one of the industries largest project financings was transferred this week relating to the Oyu Tolgoi Stage 2 expansion to Turquoise Hill Resources) and have an appetite to come in.

“We’ve had good interest and initial support from existing shareholders,” says Spring. “It’s a first-come first-served type offering as were keen to make the most of the current field season.”

At the same time though, he concedes that it’d be very hard to say no to a high-end institution even if it did come to the party later.

The Friedland name also adds lustre and certain headlines, but Spring doesn’t want the focus to be or overplay that aspect.

With this consolidation, the attention is back to the belt and creating the right platform to support further discoveries which current known geology, geophysics and interpretations support.

“It’s not often that you can secure a land package, data set and portfolio of targets like this,” he says. “They are the fundamentals to create value for shareholders.”

And, with a clean balance sheet, restructured capital structure, and potential C$2 mln in the kitty, it looks like Kincora will at last be able to get down on the ground and really go to work on its Mongolian projects.

Wed, 08 Jun 2016 12:18:00 -0400
<![CDATA[News - Kincora Copper to be debt free after fund-raising ]]> Kincora Copper Ltd (CVE:KCC) is set to get an influx of funds from shareholders, including its largest shareholder, Origo Partners PLC (LON:OPP).

The company is proposing, after a 1-for-10 share capital consolidation, to raise up to C$2mln by issuing 5.33mln shares at 37.5 cents a throw.

The share capital consolidation, which will see the number of shares in issue reduce by nine-tenths (ahead of the latest issue of shares), is all part of the process to pave the way for the merger of two Kincora subsidiaries, Ibex Land Mongolia and Ibex Mongolia,

On top of that, Origo is to convert an outstanding C$2mln loan note into equity, also on the basis of 37.5 cents a share.

The inflow of funds will clear Kincora's balance sheet of debt. Funds raised from the share issue will be used to advance the company's exploration and consolidation strategy in the Southern Gobi copper-gold belt.

"Concurrent with the Ibex merger, having received commitment from our largest shareholder Origo to convert the convertible note outstanding into equity alongside and on the same terms of the proposed non-brokered price placement, Kincora is pleased to announce an offering open to all existing shareholders in qualifying jurisdictions and new groups.,” said Sam Spring, president and chief executive of Kincora.

“The raising is being supported by key insiders and will result in a restructured and recapitalized Kincora, creating a favourable corporate platform to support our proposed consolidation and exploration strategy in a belt that supports the potential for the next globally significant copper-gold discoveries, at a favourable point of the Mongolian and global commodity cycles,” he added.

Spring revealed there had already been strong interest from potential investors in the Ibex transaction and Kincora's corporate strategy.

“The transactions will result in a consolidated landholding of over 1,500 square kilometres, the majority of the prospective exploration licences which dominate a key geological trend between and along strike from the Oyu Tolgoi and Tsagaan Suvarga copper mines, supporting an industry-leading proposition of copper-gold and gold targets, Kincora having a debt-free balance sheet and new funding being put to work in the ground," Spring said.

Shares in Origo were trading 2.5p lower in London in lunchtime trading at 0.25p.

Thu, 02 Jun 2016 08:41:00 -0400
<![CDATA[News - Kincora Copper shares jump after Ivanhoe announces near 16% stake ]]> Kincora Copper (CVE:KCC) shares jumped more than 14% on Friday after the company announced that Ivanhoe Industries, through affiliates HPX Mongolia (Singapore) Pte Ltd. and GCR Holdings Ltd. (Singapore), now holds 15.8% of Kincora's common shares.

Assuming the exercise in full of the warrants, Ivanhoe Industries, through HPX and GCR, will be deemed to beneficially own 21.97% of Kincora Copper's then issued and outstanding common shares on a partially diluted basis.

Kincora shares closed 14.3% higher at C$0.04 on Friday.

Fri, 27 May 2016 16:33:00 -0400
<![CDATA[News - Kincora consolidates Mongolian copper province ]]> If Sam Spring’s comparison of south eastern Mongolia now to Chile in the 1970s holds any water at all, then Kincora Copper’s (CVE:KCC) latest deal could position it as a significant player in the world’s next major copper province.

As chief executive of Kincora and a former AMA Mining Analyst of the Year, Spring brings considerable geological expertise to the table, as well as time spent in the broking community getting to know the whys and wherefores of capital markets.

For a couple of years now, he’s weathered the downturn in mining, conserving cash for Kincora while making sure that licenses are retained, and in some case regained.

Now though, as signs of life start to breathe through the Canadian equity markets, Kincora has staked its claim as a major player in Mongolia by adding to its existing Tourmaline and Bronze Fox licenses a whole swathe of ground held by Ibex, a private vehicle ultimately controlled by the famous mining entrepreneur Robert Friedland.

Seasoned investors will remember that it was Friedland himself who really opened up Mongolia, with the development of what is now one of the world’s largest copper mines at Oyu Tolgoi.

Back then, Friedland’s vehicle was called Ivanhoe, and it made a lot of people a lot of money before eventually selling out to a company commensurate with the size of Oyu Tolgoi, Rio Tinto (LON:RIO).

But the knowledge and skill sets that Friedland and his people gained during that exercise were not to go to waste.

Friedland kept his hand in, and Ibex managed to secure a significant land position north east of Oyu Tolgoi along the trend of the Oyu Tolgoi Tsagaan Suvarga Devonian belt.

It’s this that’s now coming into Kincora via a merger of local subsidiaries and the issue of nearly 59 mln Kincora shares with additional warrants to Ibex’s owner HPX, a private vehicle.

HPX will in turn bring some of the latest exploration technology to bear on the ground in Mongolia.

You can almost hear the excitement in Spring’s voice when he says: “Ibex’s portfolio was secured and targets advanced by former key executives of Oyu Tolgoi’s exploration team and focused on ‘mega scale’ gold-rich coppery porphyry targets.”

In other words, the idea is to turn south-eastern Mongolia now into what Chile was in the 1970s – the next big copper development region.

There, porphyry mines like Oyu Tolgoi almost always occur in clusters. And on a comparative basis, the small corner of Mongolia that contains Oyu Tolgoi and Kincora’s now much-expanded land position would, in Chile, contain 15 large copper mines and be producing more than two million tonnes of copper per year.



Wed, 25 May 2016 09:00:00 -0400
<![CDATA[News - Kincora Copper well-positioned, as interest in Mongolia reawakens ]]> One of the rub-offs Rio Tinto’s (LON:RIO) planned expansion of the giant Oyu Tolgoi copper mine in Mongolia  was a short run on the shares of Kincora Copper Ltd (CVE:KCC).

Kincora holds large tracts of land not far away from where Rio’s operations are now moving up a gear.

And the thinking is that copper porphyries like Oyu Tolgoi tend to occur in clusters focused on key geological structures within established belts.

This is true in the Southwest Pacific, Arizona and the wider south-western United States and the Andes, particularly in Northern Chile.

That’s where the world’s largest mine is located and the progressive discovery of copper porphyries was central in transforming the country’s economy from the 1970s onwards.

Within a comparable scale landmass, and similar important arc-parallel/transverse geological structures to Northern Chile, the expectation is that the same could now happen in the South Gobi region of Mongolia.

Oyu Tolgoi will be the world’s third largest copper project when the underground expansion does come on stream.

It won’t necessarily be a smooth ride though.

After the initial boost from phase one production at Rio Tinto, the Mongolian government then got into a spat with its key inward investor.

Cue one or two other arguments, including one involving Kincora as part of a dispute regarding 106 exploration licenses. The Kincora dispute, which was over title to the Tourmaline Hills license, finally got resolved last year.

And, more significantly for the overall investment climate, Rio Tinto’s decision to go ahead with the US$7.2bn further development of Oyu Tolgoi represents a clear statement that its argument with the government is over too.

So what does this all mean for Kincora?

“Hopefully,” says chief executive Sam Spring, “it will focus a few people back into the space.”

Over the past few years, like many other companies, Kincora has suffered the slings and arrows of outrageous markets.

There was the evaporation of sentiment towards mining.

There was the increased perception of political risk in Mongolia. And then latterly, there was the decline in the copper price.

“When we drilled one hole in 2012, which had over 1,000 metres of over 0.4%copper equivalent, we had 13 confidentiality agreements signed and resulted in a period we provided one group exclusivity,” says Spring.

“However, various Mongolia specific factors impeded new groups getting involved then, including our Tourmaline Hills license being revoked, the dispute over OT, and no new exploration licenses getting issued. These country specific factors have since been addressed only to be overshadowed by the global commodities cycle”.

And the broader interest may not now be long in coming back with these positive developments noted. Rio has lit a fire once again under the Mongolian mining space, and other companies have not been slow to respond.

There was the 100% upward movement in Kincora’s price across late April/early May, now up 25% year to date.  

Erdene (TSE:ERD) has doubled over the past two weeks and is over 200% higher year to date. Xanadu Mines (ASX:XAM) has also doubled from the middle of April, benefiting from some positive exploration results.

Speculation is also rife that Oyu Tolgoi’s immediate neighbour and joint venture partner Entrée Gold will be taken out some time soon, maybe also within a larger deal for Turquoise Hill Resources.

Talk at a recent Bank of America-hosted conference in Miami was speculation of “when” not “if”.

All of which adds up for a favourable environment in which Kincora’s operations could garner significant interest.

So is there news in the offing?

On that score, Spring will not be drawn in any depth as he is getting his “ducks in a row” with the field season also now opening up in Mongolia and further plans expected to soon be presented.

But asked if he thinks that the new momentum at Oyu Tolgoi will stimulate further deals in the mining sector, his answer is an unequivocal “yes”.

The amount of M&A that has been taking place in the wider copper space driven by a favourable outlook for pricing and lack of good new projects will drive this.

And in its last official communication to market, Kincora stated that it is “actively pursuing a number of more advanced opportunities that would not otherwise be available at other points of the commodity cycle.”

A strong and supportive shareholder base does at least mean that Spring has reasonable room for manoeuvre when it comes to deciding on deals or the resumption of more intensive exploration work on the ground.

“The good thing is that the rocks haven’t changed in Mongolia,” he says. “It’s probably the right time to grow again as an industry.

“And for the exploration targets we’re looking at here, spot commodity prices look good. If you have success it’ll get rewarded as the recent performance of Erdene and Xanadu illustrate with C$55mln and A$100mln market caps respectively.”

Fri, 13 May 2016 11:19:00 -0400
<![CDATA[News - Kincora Copper Ltd sharply reduces losses ]]> Exploration stage company Kincora Copper Ltd (CVE:KCC) saw losses almost halve in 2015.

The pre-revenue company posted a loss of C$1.07mln for 2015, versus a loss of C$1.98mln the year before.

There was a sharp reduction in salaries and management fees to C$24,000 from C$590,000 the year before.

The company ended the reporting period with cash and cash equivalents of C$398,000, with another half million or so held in an escrow account.

Last month, the Mongolia-focused explorer added to its assets in the area with the acquisition of a new copper gold prospect adjacent to two existing properties.

The new licence, Ulaan Khudag (Red Well), is 15km along the mineralised trend from the huge Rio Tinto-controlled Oyu Tolgoi project.

A sample in the east of the licence returned 2% copper and 0.25 grams per tonne (g/t) gold with anomalous values also to the west, Kincora said.

Kincora added it is also looking at more advanced prospects and will hold talks with its largest shareholder Origo Partners and other members of the board.

Work this year so far on its two existing licences has identified near surface targets that warrant testing on the margins of the Bronze Fox Intrusive Complex.

Next steps will include trenching then drilling for finger porphyries targets.


Fri, 29 Apr 2016 14:28:00 -0400
<![CDATA[News - Kincora's new Mongolia licence on trend with Oyu Tolgoi ]]> Kincora Copper (CVE:KCC) has added to its portfolio in Mongolia the acquisition of a new copper gold prospect adjacent to two existing properties.

The new licence, Ulaan Khudag (Red Well), is 15km along the mineralised trend from the huge Rio Tinto-controlled Oyu Tolgoi project.

Sample in the east of the licence returned 2% copper and 0.25g/t gold with anomalous values also to the west.

Kincora added it is also looking at more advanced prospects and will hold talks with its largest shareholder Origo Partners and other members of the board.

It held cash at its year-end of approximately US$400,000 with US$500,000 in an escrow account.

Sam Spring, chief executive, added that work this year so far on its two existing licences  has identified near surface targets that warrant testing on the margins of the Bronze Fox Intrusive Complex.

Next steps will include trenching then drilling for finger porphyries targets.

“The licence has a full term of up to 12 years and is an attractive addition to our portfolio with very low capital requirement, again highlighting Mongolia's status of one of the last proven but underexplored copper frontiers and on China's doorstep,“ Spring said..

Tue, 01 Mar 2016 12:48:00 -0500
<![CDATA[News - Kincora Copper looking at new options in and outside of Mongolia ]]> Exploration stage company Kincora Copper (CVE:KCC) is actively seeking potential options to enhance shareholder value both in and outside of Mongolia.

Sitting on cash and cash equivalent of C$1.16mln as at the end of September, the company said in its third quarter update that it is looking at assets that are either nearly constructed or already producing, that would not otherwise be available for purchase at more favourable points in the commodity cycle.

As a pre-revenue company, the Mongolia-focused gold and copper mine developer is currently loss-making; the third quarter loss narrowed to C$433,000 from C$509,000 in the same period of 2014, as the loss on foreign exchange movements was less severe this year.

The company has completed its 2015 field season programme at its Bronze Fox and Tourmaline Hill licences.

Assay results are pending with the activities from the 2015 field season yet to be integrated with previous years’ results.

Shares in Kincora rose 25% to 2.5 cents in Toronto on Wednesday.

Thu, 26 Nov 2015 10:33:00 -0500
<![CDATA[News - Kincora Copper's loan note issue to Origo gets clearance ]]> Mongolia-focused Kincora Copper (CVE:KCC) said the TSX Venture Exchange has okayed the issue of the C$2.5mln convertible note to major shareholder Origo Partners (LON:OPP).

Likewise, it has given the green light to the issue of 4.35 million common shares of the company at a deemed price of five cents per share to Origo in settlement of outstanding interest due to Origo, as detailed in the November 10 news release.

Both the note and the interest shares are subject to a hold period expiring March 19, 2016, Kincora noted.

Origo Partners (LON:OPP) is a closed-ended investment fund based in London that has been, according to Kincora, a “very supportive” backer of the company.

Fri, 20 Nov 2015 12:44:00 -0500
<![CDATA[News - Kincora Copper settles interest on C$2.5mln note with shares ]]> Mongolia-focused mining junior Kincora (CVE:KCC) announced it was to settle interest on a convertible loan, now renegotiated, by issuing shares.

The C$2.5mln convertible loan from fund Origo Partners (LON:OPP), was issued in July 2012.

Last month, Kincora revealed the note would be rolled over after it had been due for repayment in July of this year.

It was remediated to become due and payable on October 21, 2016 with interest at 8.7%  a year.

Kincora said it planned to settle interest on the period from July 20 last year to July 19 this amounting to C$ $217,500 through issuing 4.35mln shares  at C$0.05 each

Wed, 11 Nov 2015 09:34:00 -0500
<![CDATA[News - Kincora Copper rolls over Origo debt, eyes new transactions ]]> It’s taken a while, but Kincora Copper (CVE:KCC) has at last managed to roll over the C$2.5mln convertible note that had been due for repayment in July of this year.

C$2.5mln is no mean sum for a junior exploration company with no production to pull together in a hostile market like this, and investors weren’t unduly surprised when Kincora announced towards the end of July that the debt would be issued in shares rather than cash.

Negotiations about the precise form that deal would take rumbled on into the northern hemisphere autumn, with Kincora stating in an August corporate update that discussions with Origo, the holder of the loan note, were continuing.

For many small companies the spectre of a C$2.5mln debt looming over them with ever greater intensity when equity finance is sparse indeed might have seemed alarming.

Kincora’s case was slightly different.

The debt is owed to Origo Partners (LON:OPP), a closed-ended investment fund based out of London, and whom Kincora has described all along as “very supportive.”

It helps that Origo doesn’t just hold Kincora debt, but is also a major shareholder too.

Under those circumstances although the debt repayment is important, it isn’t Origo’s over-riding concern – that still remains the success of the company.

Nonetheless, a deal has to be right for both parties and although there was willingness for a discussion of full conversion earlier in the summer, Origo and Kincora have instead now opted for a roll-over of the debt until October of next year, with the added benefit to Origo of an 8.7% coupon and its choice of payment in either cash or shares.

Origo will also retain the right to convert in the event that Kincora undertakes an equity placing of more than C$500,000, and on equal terms.

The deal frees up Kincora to focus more fully on its Mongolian copper tenements, the Bronze Fox project and the Tourmaline Hill project.

With the debt issue unresolved and the equity markets uncertain the company has understandably been reluctant to commit to any major drill campaign in the current season, but sampling and mapping work remains ongoing with a view to the clearer definition of drill targets for future campaigns.

There’s also the possibility that Kincora could look up now, as chief executive Sam Spring stated earlier today.

“The replacement note reiterates Origo’s backing of management and Kincora’s strategy which includes continued work on our existing prospects, potentially expanding our footprint and pursuing more advanced opportunities that would not otherwise be available at other points of the commodity cycle,” he said.

Origo said something similar in its most recent update to market, noting that Kincora “is assessing a range of corporate transactions.”

What these might be remains to be seen, but as a former mining analyst Spring is no stranger to running the rule over new mining projects.

Kincora isn’t Origo’s only investment in Mongolia, so it mightn’t be too surprising if a deal was sought and eventually done in-country. But we shall wait and see.

Fri, 23 Oct 2015 03:47:00 -0400
<![CDATA[News - Kincora Copper keen on adding to portfolio ]]> Kincora Copper (CVE:KCC) is looking at new properties around its existing Bronze Fox property in Mongolia after the application process for the east of Mongolia re-opened last week.

The area includes territory within the hugely prolific Oyu Tolgoi copper belt where Rio Tinto recently opened one of the world’s largest copper mines.

Kincora has focused on reducing costs further while it looks at ways to advance its existing Bronze Fox and Tourmaline Hills copper properties in Mongolia.

The explorer ended the half year to June with cash of C$1.42mln, enough for a year and surface exploration, including infill mapping and geochemistry, around both projects.

“The key objective for the 2015 field season will be refining discrete magnetic anomaly highs around the BFIC, including a series of large targets that cross or are adjacent to the eastern and western licence boundary, and undertaking magnetic modelling to refine potential drilling targets.”

Kincora repeated it is also looking outside of Mongolia for near construction and production assets that would not otherwise be available at more favourable points in the commodity cycle.

Discussions with major shareholder Origo Partners regarding the settlement and/or extension of the US$2.5mln convertible note that is now due are continuing, it added.

The company posted a loss of C$194,000 (C$755,000) in the three months to June.

Tue, 01 Sep 2015 12:43:00 -0400
<![CDATA[News - Kincora upbeat as Mongolia returns to investment fold ]]> Kincora Copper (CVE:KCC) will shortly be making some big decisions in Mongolia

The opportunities for miners in Mongolia can be immense, as Kincora Copper’s Sam Spring knows only too well.

He’s been on the ground working Kincora’s Bronze Fox copper property for some years now, always in the shadow of the giant Oyu Tolgoi copper project.

Oyu Tolgoi alone, says Spring, looks set to account for around a third of the Mongolian economy.

That’s a huge impact for one project to have, and it’s hardly surprising that at some points the country’s government organisations have struggled to come up with a coherent and consistent policy towards mining, and controlling economic growth and inflation.

Oyu Tolgoi itself has suffered problems at the political level, as joint owners Rio Tinto and the Mongolian government squabbled over budgeting and approvals.

And Kincora too has had to fight its corner, following the unexpected revocation of rights over two licenses adjacent to its flagship Bronze Fox project that led to a C$7 mln impairment to the company’s 2013 accounts.

“It’s been a real rollercoaster,” says Spring, speaking on the phone from Ulan Bator.

“I walked into a bit of a hospital pass when I took over as chief executive with a dispute with the government and various negative bits of legislation put in place at the time.

“Fortunately, these mistakes have more or less been realised and actions either taken or proposed to win back investors.”

Sentiment towards Kincora and towards Mongolia was severely dented.

Initially, though the company was undaunted.

“We drilled 10,000 metres last year,” says Spring. “But we couldn’t drill where we previously had the best drill results because of the licence dispute.”

Consequently, the results that came in, although respectable, were not, says Spring, “standout” as needed in the current market for exploration plays.

With that in mind, and with disputes about Oyu Tolgoi rumbling in the background, it was then deemed prudent to scale back activities somewhat.

“After last year’s field season we decided we wouldn’t do any serious exploration until we got our disputed licences back, Oyu Tolgoi got resolved or the general exploration market improved,” says Spring.

But, 2015 has been an eventful year in Mongolia. The government has now settled its differences with Rio Tinto at Oyu Tolgoi, and also resolved its licence dispute with Kincora.

That leaves a clear path open for activities on the ground to restart in a major way, although precisely what form that resumption of activity will take remains to be seen.

“We’ve got some good targets that in normal conditions would be easy to fund,” says Spring.

But he notes that recent exploration success from near neighbours Xanadu Mines (AXS:XAM) was actually met with share price weakness as investors took the opportunity to sell into good news.

At the same time, the exploration potential in the South Gobi desert, where Kincora’s ground lies within 140 kilometres of Oyu Tolgoi and 40 kilometres from Tsagaan Suvarga, another US$1bn plus greenfield copper porphyry construction project, is just too huge to be ignored.

“There are not too many areas in the world with the copper potential of the South Gobi and it is a relatively favourable jurisdiction compared to other copper frontiers such as the DRC or highlands in PNG,” says Spring.

“It’s comparable to Chile in the 1970s from an unknown geological and project development perspective with the region’s potential finally opening up following recent legislative change. If we find one or two of these copper porphyrys then it’s a game changer.”

He also expects that Mongolia will return to investors’ radars relatively quickly once Stage 2 construction recommences at Oyu Tolgoi.

“The biggest project in the history of the country was stuck for three years,” he says.

“But Mongolia’s back on the watch list and as the government even says, “Mongolia is open for Business (again)”. If Oyu Tolgoi happens the way it should then we’ll see world-leading growth rates coming through from the country.”

That’s not a bad environment in which to be cranking up an exploration programme. At the end of the last quarter the company had C$1.6 mln in the bank.

“That,” says Spring, “is enough to go out and do some more exploration. It’s not a huge amount when it comes to a drilling programme, but we probably could push the boat out and do some drilling on our cash reserves but the general market remains challenging. There’ll be a decision in the next couple of weeks.”

Key shareholders will be allowed their say, but there will be strong arguments that the potential rewards now outweigh the risks. 

Wed, 15 Jul 2015 09:03:00 -0400
<![CDATA[News - Kincora Copper welcomes reinstatement of Mongolian gold licenses with new 12-year terms ]]> Kincora Copper (CVE:KCC) has confirmed the reinstatement of its two gold exploration licences in Mongolia with new 12-year terms. 

The Golden Grouse gold prospects comprise the North Fox prospect and the Western license and are next door to the company’s copper project, Bronze Fox.

The Western licence hosts the Khunguut copper/gold extension of the West Kasulu prospect on Bronze Fox and the Tourmaline Hills, West Fox and Southwest targets.

Drilling undertaken by Kincora so far has focused on West Kasulu and 15 holes at Tourmaline Hills. 

Sam Spring, Kincora’s chief executive, said: "Uncertainty and the revocation of our Golden Grouse licenses has significantly impacted Kincora and general investor confidence towards Mongolia for over two years. 

“We welcome this resolution in the most equitable and timely manner available to us, taking into consideration the interests of our shareholders and avoiding the courts. 

“Regaining the returned Western license is particularly significant given its strategic importance, common geology with our Bronze Fox license, prospective previous results and favourable structural setting. 

“The 106-license dispute has materially impeded Kincora's exploration efforts, including at Bronze Fox, and our corporate discussions and strategy.” 

Elisabeth Ellis, resident managing partner at Minter Ellison, which advised Kincora, added it was timely and welcome news for foreign investors with assets in Mongolia and those considering an investment in the country.

Wed, 04 Mar 2015 08:15:00 -0500
<![CDATA[News - Kincora set to regain gold licences in Mongolia ]]> Kincora Copper (CVE:KCC) expects to be handed back both of its gold licences in Mongolia as no other bidders emerged in the recent tender.

The explorer had seen both permits, held by its Golden Grouse subsidiary, annulled along with 104 others in Mongolia due to government concerns over the way they were issued.

The licences were put out for re-tender, but with no other interested parties Kincora expects a final administrative review and process will see it regain both as new with a full 12-year term.

Kincora has already taken a C$6.95mln impairment charge in relation to the licences. Its main asset is the Bronze Fox copper deposit in Mongolia.

Wed, 11 Feb 2015 06:33:00 -0500