Exploration stage company Kincora Copper (CVE:KCC) is actively seeking potential options to enhance shareholder value both in and outside of Mongolia.
Sitting on cash and cash equivalent of C$1.16mln as at the end of September, the company said in its third quarter update that it is looking at assets that are either nearly constructed or already producing, that would not otherwise be available for purchase at more favourable points in the commodity cycle.
As a pre-revenue company, the Mongolia-focused gold and copper mine developer is currently loss-making; the third quarter loss narrowed to C$433,000 from C$509,000 in the same period of 2014, as the loss on foreign exchange movements was less severe this year.
The company has completed its 2015 field season programme at its Bronze Fox and Tourmaline Hill licences.
Assay results are pending with the activities from the 2015 field season yet to be integrated with previous years’ results.
Shares in Kincora rose 25% to 2.5 cents in Toronto on Wednesday.