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EPIC: KCC
Market: TSX-V:KCC
52-week High/Low: C$0.42 / C$0.11
Sector: Mining
Market Cap: C$10.39M
Kincora Copper (CVE:KCC)

Kincora Copper

At Kincora Copper Limited, our focus is on Mongolia, home of major undeveloped copper-gold deposits and one of the last frontiers for exploration. We are based in Ulaanbaatar, have a year round camp in the Southern Gobi, with a corporate office in Vancouver and are listed on the TSX Venture Exchange.

In late 2016, we completed a transformational transaction to form the dominant...

Kincora Copper

www.kincoracopper.com

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Big picture - Why invest in Kincora Copper


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Series of off-market transactions have seen a 28.7% interest and strategic position in Mongolian copper-gold explorer Kincora transition from weak to strong hands, strengthening its existing exploration and expansion strategy. Despite significant uncertainty and shareholder overhang removed following new cornerstone investor Kincora’s share price has not re-rated – yet.

Kincora Copper Snapshot

Our objective is to create value for shareholders through the advancement and discovery of porphyry copper-gold-molybdenum and epithermal precious metal deposits, particularly focused on the next generation of Tier 1 porphyries in the under explored Southern Gobi copper belt.

Following the IBEX transaction in late 2016, we have strengthened our Technical Team and Board to reflect our exploration and further expansion strategy having already been one of the most active copper exploration groups in Mongolia since 2011 and having completed three corporate transactions over that period.

Sam Spring - Director, President and CEO of Kincora Copper Limited presents at the MINEX Eurasia 2016 Event.

SOUTHERN GOBI PROJECT

Kincora’s dominate position between and on strike from the two existing copper mines in the Southern Gobi is within only several hundred kilometers from the border with China, the largest consumer of copper in the world.

The region is sparsely populated, generally flat open desert, enjoys existing and rapidly improving infrastructure, is not at altitude and is within trucking distance to China – a favorable location for exploration and mine development.

Our portfolio covers 10 existing licenses, 2 further applications and covers over >1560km2. It is a strategic landholding including the majority of prospective copper belt offering the highest potential for further Tier 1 discoveries in the proven but under explored copper belt, which includes Rio Tinto’s largest global expansion project. Existing large incumbents are actively expanding portfolio and/or ramping up exploration within this Devonian copper belt.

The Devonian copper belts’ existing copper mines include two large scale greenfield copper construction projects: Oyu Tolgoi, invested capital to date over US$7 billion, in Stage 1 open pit production and target production of up to 160,000t/day, owned by Rio Tinto, Turquoise Hill Resources minority shareholders and the Government of Mongolia (“GoM”); and, Tsagaan Suvarga, estimated capex of at least US$1 billion and target production of 40,000t/day from its open pit, privately owned by MAK with project finance syndicated by the European Bank of Reconstruction and Development (“EBRD”).

Ahead of formal notice to proceed with the recommencement of underground development of Oyu Tolgoi, in Dec’15 the largest project financing of its kind in the metals and mining industry was secured for up to US$6 billion to fund underground construction. The financing was sourced from a syndicate of international financial institutions and export credit agencies representing the governments of Canada, the United States and Australia, along with 15 commercial banks.

Initial exports from Oyu Tolgoi’s open pit in less than four years from final investment agreements, three years of production with an excellent safety record and the syndication of the underground project financing assists demonstrate the attractiveness of Mongolia as a place to do business and invest.

Other significant mines, including the world class Erdenes Tavan Tolgoi mine and other coal mines, with associated infrastructure (including rail, power and water) are proposed or under construction in this general region, which is one of the most rapidly developing mining centers anywhere in the globe despite being one of the last under-explored frontiers. Xanadu Mines’ (c.A$100m market cap) flagship Kharmagtai copper-gold exploration project sits in close proximity outside of the interpreted Devonian belt where they continue to explore for a fourth mineralized system to support it advancing from exploration to development.

With the IBEX transaction, Kincora how operates the winterized “White Pearl” camp, located within 300 metres of recently installed power lines. The southern licenses are located within the Oyu Tolgoi aquifer.

 

MR. JONATHAN (SAM) SPRING
DIRECTOR, PRESIDENT AND CEO, MEMBER OF THE TECHNICAL COMMITTEE

Since joining Kincora in 2012, Sam has led day-to-day activities and proactively adjusted the business strategy to market conditions. Kincora was one of the most active copper exploration groups in Mongolia, before restructuring the balance sheet and leading countercyclical expansion activities with the IBEX transaction. Sam led industry lobby efforts with the Government of Mongolia for the resolution of the 106-exploration license dispute resulting in the return of Kincora’s two previously revoked licenses, and recently led a second dispute resolution process with the Government. Sam was nominated for “Chief Executive of the Year – Exploration” award at Mines & Money London (December 2017).

Prior to Kincora, Sam was recognised as one of the leading European Metals and Mining research analysts, having won the Association of Mining Analysts (UK) Equity Mining Analyst of the Year, with multi disciple financial service sector experience, including the Goldman Sachs Group.He is a CFA Charterholder and a Chartered Accountant (ICAA). He earned his Bachelor of Commerce degree at the University of Melbourne.

MR. JOHN HOLLIDAY
INDEPENDENT NON-EXECUTIVE TECHNICAL DIRECTOR, NON-EXECUTIVE CHAIRMAN OF TECHNICAL COMMITTEE

John has over 30 years’ experience in metals exploration mostly with BHP Minerals and Newcrest Mining, including the positions of Chief Geoscientist and General Manager, Property Generation and more recently in the junior sector. He was a consultant geologist to Kincora from mid 2015, becoming Chairman of the then newly formed Technical Committee in November 2016 before joining the board in late January 2017.

John was a principal discoverer and site manager of the undercover Cadia and Marsden porphyry Tier 1 gold-copper deposits in NSW, and was a principal geological advisor on the acquisition of many significant projects, including Namosi and Wafi-Golpu.

John has a track record of success in global gold-copper deposit exploration, discovery and evaluation, particularly with concealed porphyries such as those that the Oyu Tolgoi-Tsagaan Suvarga copper belt is prospective for where Kincora holds the dominant regional landholding.

John has a geophysics/geology honours degree from Macquarie University and economics/politics degree from Sydney University. He is a member of the Australian Institute of Geoscientists, the Australian Society of Exploration Geophysicists and the Society of Economic Geology.

MR. PETER LEAMAN
PRESIDENT OF EXPLORATION, EXECUTIVE OF TECHNICAL COMMITTTEE

Peter has over 40 years’ experience in exploration mostly with BHP Minerals, with a particular focus on Base & Precious Metals, and PanAust Limited, where he was Regional Exploration Manager SE Asia and remains an Exploration Advisor.

Peter is a very hands on and target orientated front line leader who has been responsible for project generation, managing mineral exploration programs and regional offices/activities in multiple jurisdictions, resulting in multiple discoveries including the Tier 1 Reko Diq porphyry Cu/Au deposit, Crater Mountain epithermal Au/Ag and Mt. Bini (Kodu) porphyry Cu/Au deposits in Papua New Guinea, amongst others.

Peter managed the BHP Billiton office and exploration teams in Mongolia, which included the joint venture with Ivanhoe Mines (now Turquoise Hill Resources) to explore the Oyu Tolgoi belt for similar deposits, including flying the regional Falcon airborne gravity gradiometer survey, undertaking extensive Induced Polarization (IP) studies and target testing drilling.

Peter is a former Imperial College (M.Sc. mineral exploration) and Leicester University (B.Sc. Hons, geology) graduate, and is Qualified Person for the purpose of NI 43-101.

MR. ANTHONY JACKSON
CHIEF FINANCIAL OFFICER (CFO)

Mr. Jackson is a Principal of BridgeMark Financial Corp., which provides corporate compliance, financial advisory, and financial reporting activities to public and private companies. Mr. Jackson also founded Jackson & Company, Chartered Accountants assisting private and public companies in a variety of industries with full service accounting, and tax services. Prior to his time at BridgeMark, Mr. Jackson spent a number of years working at Ernst & Young LLP and obtaining his CA designation before moving onto work as a senior analyst at a boutique investment banking firm. Mr. Jackson holds a Bachelor of Business Administration degree (B.B.A) from Simon Fraser University and the professional designation of Chartered Accountant (CA), where he is a member of the B.C. and Canadian Institute of Chartered Accountants. Most recently, Mr. Jackson has had extensive experience as a Director and CFO of numerous publicly traded corporations in the metals and mining industry.

PLUS MINERALS LLC
ADVISOR TO THE TECHNICAL COMMITTEE

Plus Minerals LLC, including Ms. Khashgerel Bat-Erdene and Mr. Imants Kavalieris, has been appointed an Advisor to the Technical Committee.

Imants has extensive experience in Mongolia and is recognized as one of the industry’s leading copper porphyry exploration geologists, having been involved in the exploration and delineation of the Oyu Tolgoi copper-gold porphyry deposits where he was one of the 6 executive exploration team, and has worked on some of the largest porphyry Cu-Au deposits in SE Asia.

Plus Minerals has considerable experience with both the Kincora and IBEX licenses, having provided consulting services to both entities over recent years, and additionally has a leading knowledge of other existing projects in Southern Gobi region.

MR. MOLOR ERDENEBAT
HEAD GEOLOGIST

Molor has over 10 years of base metal exploration and mining experience including roles with Trafigura, Erdene Resource Development and Solomon Resources, in Mongolia and Africa. Molor earned his Applied Earth Science qualification at Tokyo Institute of Technology and holds a Master of Science degree at Mongolian University of Science and Technology. Molor has extensive experience in all different stages of exploration and mining industry including structural geology mapping, prospecting, trenching, drilling, resource delineation and mobile plant operation. Molor joined Kincora in 2014 being involved in the drilling and trenching activities season.

MR. TSOLMON AMGAA
PROJECT GENERATION GEOLOGIST

Tsolmon is an economic geologist with over 20 years experience in mineral exploration, more recently with the majors Vale and Teck as Senior Geologist, and prior to that, with a number of juniors active in Mongolia and internationally. Tsolmon has a strong working knowledge of the Mongolian copper belts and interpretation of their geological controls and models. He is a former researcher and lecturer in the School of Geology and Petroleum at the Mongolian University of Science and Technology (MUST).

Tsolmon earned his Bachelor of Science degree in applied geology at the Mongolian Technical University in 1997 and a Master of Science at the International Institute for Geo-Information Science and Earth Observation (ITC), the Netherlands in 2013. Tsolmon initially joined Kincora in 2016.

MR. HENRY TEBAR
CONSULTANT GEOLOGIST

Henry has over 30 years exploration experience in copper, precious/base metals and geothermal predominantly focused in Asia. He is formerly the President and Chief Geologist of Trafigura Origo Joint Venture in Mongolia, having identified and ground-truthed >300 targets. Henry has expertise in identification and valuation of early stage to advanced metal assets and value-add them via systematic exploration to reach the next decision point, as illustrated by leading the discovery of the Gangjiang porphyry Cu-Mo-Re deposit in Tibet. He is ex Leyshon Resources, Central China Goldfields, Anomaly Resources, BHPB, and Billiton.

Henry holds a BSc (University of the Philippines) and MSc (University of Canterbury, NZ) degrees in Geology; a Master of Logistics Management degree (University of Sydney); and completed four years of PhD research (University of Alberta, Canada) on porphyry Cu-Mo and epithermal Au in British Columbia. He is a Member of the Australian Institute of Geoscientists and the Society of Economic Geologists and is qualified as a Competent Person, under the Australian Code for the Reporting of Mineral Exploration Results.

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CORPORATE DIRECTORY

 

Head Office

Suite 800

1199 West Hastings Street

Vancouver, BC  V6E 3T5

Canada 

Tel: 604.283.1722

Fax: 1.888.241.5996

Email [email protected]

 

Mongolian Office

“Khasvuu” Building

3RD Floor Suite 301,

Transporters Street,

Peace Avenue

Sukhbaatar District 1st Khoroo

Ulaanbaatar 14210, Mongolia

Tel: 976.7010.0095

Fax: 976.7010.0097

Lawyers

McMillan LLP

1500 - 1055 West Georgia Street

Vancouver, BC  V6E 4N7

T. 604.689.9111

F. 604.685.7084

 

Auditor

Davidson & Company LLP Chartered Accountants

609 Granville Street

Vancouver, BC  V7Y 1G5

T. 604.687.0947

E. [email protected]

 

Transfer Agent

Computershare Trust Company of Canada

2nd Floor, 510 Burrard Street

Vancouver, BC  V6C 3B9

T. 604.661.9400

F. 604.661.9549

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