• Successful completion of strategic review process for Kincora’s Mongolian assets has resulted
in a binding Earn-In Term Sheet (Agreement) with Woomera Mining Limited (ASX:
WML, Woomera) for the Bronze Fox copper-gold project
• Woomera has the right to spend up to US$4 million over a period of 5 years to earn a 80%
interest and may elect to then:
o purchase the remaining 20% interest from Kincora for US$10 million cash
consideration and a 1% Net Smelter Royalty (NSR); or,
o enter into a shareholders agreement whereby Kincora is free carried until the
point of a Final Investment Decision (FID) for project development (minimum
reserve of 1Moz gold equivalent)
• Woomera is a well credentialed partner with a highly successful team and strong shareholder
register, and will conclude a A$2 million raising via a strongly supported placement and
proposed Share Purchase Plan to support the Agreement
• High impact field program proposed from next month including new discovery and resource
expansion drilling coupled with a second mining license conversion
• Kincora will receive A$450,000 share consideration in Woomera becoming its largest
shareholder and A$100,000 cash payments
• Scrip component provides highly attractive upside to success and the advancement of the
fourth major porphyry district in the world-class Southern Gobi copper belt
• Agreement allows Kincora to focus on the flagship NSW copper-gold projects located in
highly prolific Macquarie Arc and follows the strategy of doing deals with funding and
technical partners to unlock the value of the existing project pipeline
Melbourne, Australia — August 12th, 2024
Kincora Copper Limited (TSXV & ASX: KCC, Kincora or the Company) is pleased have
executed the Agreement that outlines the terms which Woomera, an arms length and unrelated
party to Kincora, may earn into the Company’s wholly owned Mongolian subsidiaries and thereby
obtain exposure to the Company’s Bronze Fox copper-gold project, located in the world-class and
rapidly emerging Southern Gobi copper belt.
Cameron McRae, Chairman of Kincora, and Sam Spring, President and CEO stated,
"Woomera has a mandate for large scale new discovery opportunities backed by a team and
shareholder register with very considerable prior successes. They are a well motivated and
funded partner looking get drilling from September with a high impact program.
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.
We look forward to working with Woomera and realising the very significant upside we
mutually 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."
Kincora secures funded, successful and movitatived partner for Mongolian assets (August 12, 2024) 2
Website: www.kincoracopper.com Email: enquiries@kincoracopper.com
Ralf Kriege, CEO of Woomera, expressed his enthusiasm about the opportunity, saying,
“We are excited to be able to offer our shareholders exposure to these high-quality assets which
offer walk-up drill targets with globally significant potential.
The large existing resource inventory, in what we feel is only a very small part and on the margin of one of three near surface and large porphyry systems does however illustrate the
substantial scale of the systems and of our opportunity.
see & read more on
https://kincoracopper.com/wp-content/uploads/2024/08/20240812_Kincora-secures-funded-successful-and-motivated-partner-for-Mongolian-assets.pdf