Sign up USA
Proactive Investors - Run By Investors For Investors

Kincora Copper closes second tranche of financing with the EBRD

"The bank is a significant investor in some of Mongolia's largest mining projects...," said Kincora
Kincora Copper closes second tranche of financing with the EBRD
Kincora is on the hunt for copper in Mongolia

Mongolia-focused explorer Kincora Copper Ltd (CVE:KCC)  has closed its second tranche placing with the European Bank for Reconstruction and Development (EBRD) raising C$1.4mln.

It follows the closing of the first tranche on August 22, 2017, with total gross funds raised being now C$5.92mln.

"Following an extensive due diligence process we are delighted to have EBRD as a new shareholder," said Sam Spring, president and chief executive.

"The bank is a significant investor in some of Mongolia's largest mining projects and has provided finance to assist the development of the two existing economic copper projects in the Devonian belt.

"EBRD's investment is testament to the growing belief that Kincora holds some of the most exciting exploration assets along one of the last great underexplored copper belts.

Mongolia became an EBRD country of operations in October 2006 and since then has committed through debt and equity investments more than €1.42 billion to the Mongolian private sector through 92 projects in sectors ranging from banking to manufacturing and from mining to agribusiness.

Like the first tranche, each unit of 33 cents was accompanied by one share, and one-half a warrant, entitling the holder to acquire a further share for C$0.445 for two years.

View full KCC profile View Profile

Kincora Copper Timeline

Related Articles

Mine
December 07 2017
King's Bay's drill core is already attracting significant interest, with assays due next month
elk-petroleum_brad-lingo-757.jpg
February 02 2017
Brad Lingo discussed with investors ELK's assets in the U.S.
white-rock-minerals_matt-gill-presenting-Melb-May-2017-757x468.JPG
June 01 2017
We are joined by Matthew Gill, CEO and managing director, in Proactive Q&A Sessions™.
Copyright © Proactiveinvestors.com, 2017. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use