KCC Kincora Copper Limited

Kincora Copper Limited (the "Company", "Kincora") (TSX VENTURE:KCC) has today
filed its annual operational and financial results for the year ended December
31st, 2012. The Company's audited Consolidated Financial Statements and
Management's Discussion and Analysis has been filed with SEDAR, and is available
on the Company website at www.kincoracopper.com. 


John Rickus, President and CEO commented, "The year 2012 was dominated by global
economic contractions with the junior resource industry impacted particularly
hard. Despite significant progress delivering on our stated exploration,
development and acquisition strategy a series of adverse external and Mongolia
specific uncertainties over this period, and emerging into 2013, have adversely
affected our share price performance in particular and as well as that of most
Mongolian asset classes which are trading at or near 52 week lows (or
significantly longer). As such we have taken measures to strengthen the Company,
align our strategy with current market conditions and I thank our shareholders
for their ongoing support.


"While the Bronze Fox license remains our flagship project, with field season
activities in 2012 confirming and significantly advancing a number of copper
porphyry targets at the West Kasulu prospect, I am pleased to confirm that
recent correspondence with MRAM confirms all our licenses are in good standing.
Uncertainty relating to our lower priority two Golden Grouse licenses has
undoubtedly impacted our share price and led to Kincora trading at a clear
discount to its listed Mongolian copper exploration peers. 


"Kincora continues to closely monitor key events and political developments in
respect to mining and foreign investment laws. In particularly the expected
resolution of current issues facing Oyu Tolgoi, the largest proposed project
financing in the mining industry and achievement of Stage 1 commercial
production by the end of June, is likely to be a very positive catalyst
favourably impacting investor sentiment to Mongolia. This event is scheduled to
occur at a time when Presidential elections will conclude (June 26th), which
will bring to a close a highly uncertain two year political cycle following
Parliamentary elections and the subsequent change in Government last year." 


John Rickus further noted, "Finally, I would like to thank our Director of
Exploration, Yawen Cao, and his Mongolian team for their continued hard work
particularly as we shortly resume exploration activities. To reach this stage of
exploration and development activities at Bronze Fox is a very commendable
achievement particularly bearing in mind our licenses are only in their fourth
year. 


"Despite the significant uncertainties that have emerged since mid last year we
see recent external events as potential catalysts for an improvement in market
sentiment towards Mongolia and especially Kincora. We note that the Mongolian
Parliament has already supported an amendment to the Foreign Investment Law
(SEFIL) and a proposed amendment to the securities market law. Similarly Erdene
Resource Development Corp.'s strategic alliance with Teck Resources Limited is a
sign of strategic investors continued interest in Mongolia, in particular,
copper exploration. Kincora remains comfortably funded with planned exploration
activities expected to significantly advance our asset portfolio. "


Highlights for the year ended December 31st, 2012 and subsequent developments
through March 31st, 2013 include:




--  Large-scale exploration targets advanced: Over 15000 metres of drilling
    during 2012 confirmed and significantly progressed a number of copper
    porphyry targets at the West Kasulu prospect (in Bronze Fox) for both
    bulk lower grade and deeper higher-grade copper mineralisation. Scout
    drilling activities coupled with IP analysis supports a mesothermal
    predominately gold target to the approximately 4-5 km south, south-east
    of the West Kasulu copper porphyry target and establishment of an
    epithermal predominately gold target at the Tourmaline Hill
    prospect/neighbouring license.

--  Anomaly extends target zones and adds substance to further geophysics:
    In late 2012 two previously untested anomalies at Bronze Fox, which were
    identified from the first phase 3D Induced Polarisation ('IP') programme
    earlier in the year, were drilled. Whilst not encountering economic
    mineralisation, both holes were technical successes, returning
    significant alteration warranting further exploration activities.
    Furthermore mineralisation encountered reconciles to the geophysics
    target profile, adding substance to further IP analysis and supporting a
    substantial new target zone of over 2kms at West Kasulu.

--  Analysis of potential oxide development project commenced: A first phase
    oxide development project, if viable, could provide cash flow to be
    reinvested into further exploration and conversion to a mining license.
    Following initial infill drilling and metallurgical analysis a decision
    to move to pre-feasibility studies for a shallow, small scale open pit
    mine to produce cathode copper by heap leaching is subject to further
    drilling, metallurgical analysis, desktop reviews and clarity on the
    proposed new Government Minerals Policy.

--  Executive management team strengthened: Two senior executives have been
    appointed bringing valuable technical, commercial and financial markets
    experience with them to the Company's existing operations and business
    development strategy.

--  Regional consolidation and corporate opportunities advanced: Two
    commercial agreements have been completed, further opportunities being
    evaluated and discussions with potential strategic investors regarding
    technical and financial synergies ongoing.

--  Successful capital raisings: Two capital raising in the second half of
    2012, with notable support from the Company's largest shareholder and a
    new significant scale Hong Kong based institution, provides Kincora a
    number of options and flexibility to resume optimal exploration
    activities in 2013. The Company's cash balance as at April 23rd, 2013 is
    $2,604,782 supporting board approved activities until 2014 with the
    management also focusing on further reducing overhead and administrative
    costs.

--  Planned resumption of field activities and confirmation of licenses
    standing: Despite recent speculation driven by an ongoing Mongolian
    court case, Kincora has had confirmation from the Mineral Resources
    Authority of Mongolia ("MRAM") that all its licenses remain in good
    order. A staged systematic exploration programme is planned with field
    season activities expected to recommence within the next month.
    
    The core focus of these activities is to refine exploration data and
    specify target generation of the copper porphyry targets at the West
    Kasulu prospect in light of the positive results at depth (eg hole F62)
    and other shallower zones of bulk and higher grade porphyry
    mineralisation (eg holes F82, F92 and F72) encountered late 2012. Also
    this will potentially enable Kincora to undertake a deep IP programme
    and possibly further drilling at identified high priority targets in the
    second half of the year which, if successful, could to lead to a
    significant exploration target range. Further details on Kincora's
    planned exploration activities are provided in our 2012 Annual Report.



About Kincora Copper Limited

Kincora Copper Limited is a mining exploration and development company based in
Vancouver and listed on the TSX Venture Exchange that was formed in mid 2011.


Kincora's ambition is to be the leading listed independent copper exploration
and development company in the highly prospective and proven Oyu Tolgoi South
Gobi porphyry copper belt in southeast Mongolia. The Company is currently
exploring its wholly owned Bronze Fox, Tourmaline Hills and North Fox projects
which host an extremely large and strategically located mineralised footprint
covering over 40km2. 


The projects are situated only 250km from the Chinese border and within 140km of
two large scale greenfield copper construction projects: Oyu Tolgoi, invested
capital to date approximately US$6.6 billion and target production of up to
160,000t/ day; and, Tsagaan Suvarga, estimated capex US$1b and target production
of 40,000t/ day. Other significant mines and associated infrastructure are being
developed in this immediate region.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Kincora Copper Limited
Sam Spring
VP Corporate Development
+61431 329 345
sam.spring@kincoracopper.com


Kincora Copper Limited
www.kincoracopper.com

Grafico Azioni Kincora Copper (TSXV:KCC)
Storico
Da Lug 2024 a Ago 2024

Grafico Azioni Kincora Copper (TSXV:KCC)
Storico
Da Ago 2023 a Ago 2024