Kincora Provides Fiscal Year Results and Corporate Update
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/30/15 -- Kincora Copper Limited (the "Company", "Kincora") (TSX VENTURE: KCC) is pleased to provide a review of 2014 and initial developments to date for 2015 in conjunction with its December 31st, 2014 year end financial results.
The Company's audited Consolidated Financial Statements, and, Management's Discussion and Analysis (MD&A), have been filed with SEDAR and are available on the Company website with an updated corporate presentation: .
HIGHLIGHTS
Exploration
Return of dispute licenses
Strengthened team
Leading expenditure ratio and further cost reductions
Mongolian Government update
Funding/Corporate
Corporate strategy:
Sam Spring, President and CEO commented, "Kincora completed one of the most active copper exploration programs in Mongolia last year, continuing recent years efforts, on one of the most advanced and prospective projects with one of the youngest exploration license portfolios. The Company firmly believes that capital constrained budgets have to be aligned with shareholders interests and during calendar year 2014 it is estimated that over 75% of cash expenditure (ex capital raising costs) was spent on exploration, versus a peer group of less than 50%. Base case field season activities for the 2015 field season remain funded to refine various prospective targets and we are well positioned should there be an improvement in investor sentiment towards Mongolia.
Under Mongolian Prime Minister Saikhanbileg's leadership since forming an unprecedented super coalition Government in November 2014, a number of measures have been actioned, and many more proposed, to resolve various issues impacting private sector activities and investor sentiment towards Mongolia. For Kincora, we have seen our long-standing case impacted by 106-license dispute resolved in the most equitable and timely manner available following two years of uncertainty, with a marked change in the bureaucratic and resolution process under the new coalition Government.
Only in the last month have we regained unimpeded control of our corporate strategy and we are now actively seeking potential options to enhance shareholder value. Resolution of the 106-license dispute and reform to the Minerals Law (including lifting of the moratorium for issuing new exploration licenses) has addressed two of the three common items of push back we have received for potential investors, the last issue remaining being Oyu Tolgoi Stage 2.
We are encouraged by recent public record comments from senior Government officials regarding moving flagship mining projects forward. Over the last few years there has been a significant negative impact from a number of disputes, however, a favorable resolution for Oyu Tolgoi Stage 2 could support a potential inflection point and catalyst. Recent statements and a number of moves in share prices relating to Mongolian asset classes provides scope for measured optimism if actions support recent words, which would support an improvement in private sector activities".
Further details on Kincora's recent results and planned activities are provided in our 2014 Annual Report and updated corporate presentation.
1 Consolidated Statements of Financial Position as at December 31, 2014:
Qualified Person
The scientific and technical information in this news release was prepared in accordance with the standards of the Canadian Institute of Mining, Metallurgy and Petroleum and National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and was reviewed, verified and compiled by Kincora's geological staff under the supervision of John Rickus, Chairman and Director of Kincora Copper, who is the Qualified Person for the purpose of NI 43-101.
About Kincora
Kincora Copper Limited. is a junior resource company engaged in the acquisition, exploration and development of mineral properties, with a focus on copper-gold projects in Mongolia. For further information on the Company, please visit and refer to its corporate presentation . Kincora has 309,774,451 issued and outstanding common shares.
Forward-Looking Statements
Certain information regarding Kincora contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Kincora believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Kincora cautions that actual performance will be affected by a number of factors, most of which are beyond its control, and that future events and results may vary substantially from what Kincora currently foresees. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration results, continued availability of capital and financing and general economic, market or business conditions. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and is subject to change after that date. The Company does not assume the obligation to revise or update these forward-looking statements, except as may be required under applicable securities laws.
NO REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE CONTENTS OF THIS RELEASE
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Kincora Copper Limited
Sam Spring
President and Chief Executive Officer
+61431 329 345
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Unternehmensinformation / Kurzprofil:
Datum: 30.04.2015 - 19:42 Uhr
Sprache: Deutsch
News-ID 390000
Anzahl Zeichen: 3546
contact information:
Town:
VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
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