Business
Kincora consolidates NSW portfolio ownership, conducts capital raising
Kincora consolidates NSW portfolio ownership, conducts capital raising Canada NewsWire ...
About this update from Kincora Copper Limited
[{"type":"text","content":"\n \n \n \n Kincora consolidates NSW portfolio ownership, conducts capital raising\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; BORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnml40{\nMARGIN-LEFT:3.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n Kincora secures 100% interest in all NSW projects\n \n \n \n \n Acquisition of RareX Limited's (\"RareX\") carried 35% asset level interests in the Trundle, Fairholme, Jemalong, Cundumbul and Condobolin licenses for\n \n 40m\n \n Kincora Chess Depositary Interests (\"CDIs\") and a 1% Net Smelter Return Royalty (\"NSR\")\n \n \n \n \n Binding commitments for oversubscribed\n \n A$2m\n \n private placement\n \n \n \n \n Lead from largest shareholder, Big Ben Holdings Pty Limited, subscribing for\n \n 10.4m\n \n Kincora CDIs\n \n \n Further\n \n 30.2m\n \n CDIs to be placed with professional and sophisticated investors\n \n \n \n \n Experienced resource executive\n \n Jeremy Robinson\n \n to join Kincora's board\n \n \n \n \n \n \n MELBOURNE, Australia\n \n \n ,\n \n \n July 31, 2023\n \n \n /CNW/ - Kincora President & CEO,\n \n Sam Spring\n \n , and chair,\n \n Cameron McRae\n \n , commented:\n \n \n \n \n \n \n \n \n \n \n \"These transactions significantly increase the strategic value of, and funding options for, our NSW project portfolio and strengthen Kincora's balance sheet.\n \n \n \n \n Kincora will hold 100% ownership in 8 projects, covering 2,367km\n \n 2\n \n in highly prospective settings within world-class gold-copper mineral belts in a Tier-1 jurisdiction.\n \n \n \n \n Coupled with the oversubscribed\n \n A$2m\n \n raising, the Company is in a strong position to both extend high priority drilling and accelerate ongoing asset level partner discussions at a time where we are seeing very significant corporate activity in our di...