Kincora partners with Woomera to advance Mongolian copper-gold play

The Market Herald08-12

Precious and base metals explorer Kincora Copper Ltd (ASX:KCC) has announced a partnership with Woomera Mining Ltd (ASX:WML) to progress its Bronze Fox copper-gold project in Mongolia. As well as ...

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href=https://themarketonline.com.au/kincora-partners-with-woomera-to-advance-mongolian-copper-gold-play-2024-08-12/><strong>The Market Herald</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Precious and base metals explorer Kincora Copper Ltd (ASX:KCC) has announced a partnership with Woomera Mining Ltd (ASX:WML) to progress its Bronze Fox copper-gold project in Mongolia.\nAs well as ...</p>\n\n<a href=\"https://themarketonline.com.au/kincora-partners-with-woomera-to-advance-mongolian-copper-gold-play-2024-08-12/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"NSR.AU","symbol_name":"NATIONAL STORAGE 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would have the option of buying out the rest (20%) from Kincora for US$10 million and a 1% Net Smelter Royalty (NSR).\nAn alternative option after the five years would involve Woomera entering into a shareholders’ agreement through which Kincora would be free carried up to the point of a Final Investment Decision for gold development (with a minimum reserve of 1 million ounces gold equivalent).\nWoomera is set to raise $2 million in support of the agreement through a placement and proposed share purchase plan. In addition, Kincora will become the company’s largest shareholder by taking on a A$450,000 share consideration, in addition to A$100,000 cash payments.\nKincora Chairman Cameron McRae, together with President and CEO Sam Spring said the partnership made sense given the synergies of the two companies, and would allow Kincora to focus on its flagship copper-gold project in the Macquarie Arc in New South Wales.\n“Woomera has a mandate for large scale new discovery opportunities backed by a team andshareholder register with very considerable prior successes,” they said.\n“They are a well motivated and funded partner looking get drilling from September with a high impact program.\n“This transaction realises Kincora’s strategic objective to retain upside to our Mongolian assets, focus efforts and capital towards our core NSW projects, and, look to do deals to unlock the value of project portfolio.\n“We look forward to working with Woomera and realising the very significant upside wemutually see in Bronze Fox that we strongly feel will shortly emerge as the fourth major porphyry district in the rapidly developing Southern Gobi copper belt.”\nA high-impact field program has already been proposed for next month at Bronze Fox, drilling to expand the current resource and delineate new discoveries.\nAt 12:47 AEST, Kincora Copper shares were trading at 4.7 cents, a rise of 9.3% since the market opened.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2458777616"}