Kincora Copper

Financials:

Primary ticker: ASX:KCC, TSXV:KCC
Stage of development: Exploration
Primary minerals: Copper, Gold
Project to promote: Macquarie Arc Belt
Project location: Australia
Website: https://kincoracopper.com/
Corporate presentation: Click here

Kincora Copper is an active explorer and project generator focused on world-class gold rich copper discoveries in Australia’s foremost porphyry belt (the Macquarie Arc, in NSW). The Company is drilling two advanced exploration stage projects with hallmarks to neighboring mines that host to a combined total of over 20Moz gold and over 5Mt copper. 

Kincora has assembled an industry leading technical team who have made multiple world-class copper-gold discoveries, who have “skin in the game” equity ownership and who are backed by a strong institutional shareholder base. Our exploration model applies a robust systematic approach utilising modern exploration techniques supporting high-impact, value add programs underpinned by targets with strong indications for world-class scale potential.

Cash: A$7.3M (as at Nov 2021)
Debt: N/A

Major shareholders:
LIM (LIM Asia Special Situations Master Fund) – 16%
RFM – 8%
NPC – 6%
Board & Management – 5%

Management Profile

Cameron McRae – Chairman of the Board
Cameron McRae was appointed Chairman of the Board in August 2018. Since leaving Rio Tinto in late 2013 Cameron has been an Advisor to Kincora, providing a significant contribution to stakeholder relations, strategic direction and operations.

Cameron is currently an independent non-executive director of Erdene Resource Development, an executive director of the Business Council of Mongolia and chairman of the International Advisory Panel (IAP) to the Minister of Mining and Heavy Industry of Mongolia. In 2016-17, Cameron was a director and executive chairman of TerraCom.

Mr. McRae is a seasoned director, CEO and mining executive, having led the full development cycle in four countries and across three continents.

Cameron served a 28-year career with Rio Tinto, and in Mongolia was President of Oyu Tolgoi LLC and Rio Tinto’s country director (2010-13). In that role he led the construction and start-up of the then US$6 billion Oyu Tolgoi copper-gold mine, located in the Southern Gobi, ahead of schedule, which at peak of construction had over 15,000 people employed on site. Mr. McRae was responsible for all aspects of the project including safety, strategy, operations, growth initiatives and chair of the technical committee.

Mr. McRae has led successful greenfield and brownfield construction projects, overarching business transformations and business improvement projects. At the corporate level, he has deep commercial/M&A experience and sat on a number of exploration and technical committees, including Oyu Tolgoi. Prior to Oyu Tolgoi, Cameron was CEO of Richards Bay Minerals in South Africa, Managing Director of Murowa Diamonds in Zimbabwe and Project Director for the Hail Creek Coking Coal Expansion project in Australia. Prior to 2004, Cameron held commercial and project leadership roles, both at Corporate and Business Unit level. In 1995, he was a key team member responsible for the A$29 billion merger of CRA and RTZ into the dual listed Rio Tinto (which was the world’s largest merger at the time).

Cameron was schooled in Australia and Africa and holds a commercial degree and an MBA (Monash University), and recently moved to NSW.

Sam Spring – President and CEO

Sam has been the President and CEO of Kincora Copper, as a TSX-V listed entity, since April 2013 having joined the Company in September 2012. During his time at Kincora, Sam has successfully led four corporate transactions including the pivot from a Mongolian to Australian asset portfolio and exploration strategy, built an industry-leading technical team and board, attracted a strong shareholder register and lead the dual listing onto the ASX.

Sam is Vice Chair of the Business Council of Mongolia’s (BCM) Resources and Environment Working Group, and a member of the International Advisory Panel (IAP) to the Minister of Mining and Heavy Industry of Mongolia. He 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-disciplinary financial service sector experience, including with the Goldman Sachs Group and Ocean Equities Ltd.

Sam is a CFA Charterholder and a Chartered Accountant (ICAA) and earned his Bachelor of Commerce degree at the University of Melbourne.

What is your rationale for taking part 121 Mining Investment?

At 121 Mining we are looking to engage with new and existing investors to provide an update on recent positive progress and drill results at our advanced exploration stage projects at Trundle (where we have been drilling since April 2020) and Fairholme (first assay results pending), and progress advancing our project pipeline, including the proposed divestment of our Mongolian portfolio.

What recent news would you like to highlight to investors attending?

23 Feb 2021 – New higher-grade gold-copper system extension confirmed and expanded 

• New southern zone discovery at the Trundle Park prospect confirmed and extended 

• Most recent hole TRDD030 returns broad intervals of two mineralising phases, both with zones of significant visual chalcopyrite (assay results pending):

o Cumulative mineralized skarn intervals enlarged and totals ~250m

o Extension of quartz-carbonate-chalcopyrite vein sets down dip with increased veining and visual chalcopyrite

o Skarn bedding and vein orientation provide vectors for following up drill testing of the interpreted causative porphyry intrusion source

24 Jan 2021 – Newly discovered higher-grade zones expand the large-scale gold-copper system at Trundle Park 

 

• Ongoing drilling at Kincora’s Trundle Park prospect has yielded significant encouragement. Three zones of mineralised skarns have been intersected in most recent hole TRDD029. The cumulative mineralised interval amongst the three units totals some 213m.

• Assay results are only available for the Upper skarn which has returned 36m @ 1.17 g/t gold equivalent. Remaining results are due in approximately 5 weeks.

• Notable mineralised skarn intervals encountered in TRDD029 are:

o Upper skarn: 36m @ 0.68 g/t gold and 0.29% copper from 732m, including 4m @ 1.19 g/t gold and 0.59% copper (2.19 g/t AuEq1) from 732m

o Middle skarn: 139.3m intersected between 826.7-966m interpreted to host multiple zones with abundant visual chalcopyrite (assay results pending)

o Lower skarn: 37.7m intersected between 981.3-1019m (assay results pending)

• Gold-copper mineralization now confirmed over a ~1.3 km strike and open

• Follow up hole TRDD030 is ongoing, testing the up and down dip extent of the Upper skarn zone in TRDD029 and for a causative porphyry intrusion

• Assay results returned for TRDD028 have returned multiple broad lower grade gold zones

7 Dec 2021 – Porphyry system extended to surface and depth at Trundle Park 

 

• Assay results for TRDD014W1 return significant higher gold grade skarn intervals and broad intervals of porphyry style intrusions at the Trundle Park prospect;

• For the first time at the Trundle Park prospect most recently completed hole TRDD028 intersected broad porphyry style intrusions from near surface (to 467m), with the targeted deeper intrusive body also intersected (assay results pending);

• Assay results for TRDD022 (162m @ 0.24 g/t gold and 0.04% copper, including 18m @ 0.75 g/t gold and 0.09% copper), TRDD014/W1 and visual interpretation of TRDD028 provided further confidence of proximity to the core of a large porphyry intrusive system, vectors for follow up drilling and support the working model of a vertically extensive mineralized intrusive system that has both open pit and underground target potential;

• Hole TRDD029 has commenced testing nearer surface intrusive potential, and also western and southern strike for both skarn and porphyry type intrusion mineralization at depth.

What are your key goals for the next 3, 6 and 12 months?

3 Months:
Drilling at Trundle copper-gold porphyry project

Drilling at Fairholme gold-base metals project

Junior explorer drilling effectively testing our Cundumbul project

6 Months:
Become the clear pure play explorer in Australia’s foremost porphyry belt

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

Key risks for Kincora include: geological risk (confirmation or otherwise of our more advanced geological models) and, as an exploration company there is always funding risk (albeit currently well funded into 2022). The health/safety, ability to operate and capital markets implications of COVID-19 is an emerging situation we are closely and proactively monitoring.

What do you think makes your company such a compelling investment?

Kincora’s ongoing drilling, balance sheet position and valuation provides significant leverage to exploration success, lead by a team who has a track record of world-class copper-gold discoveries, including in our immediate region.

What are the top 3 key investor takeaways?

Team (industry leading), Location (Australia’s foremost porphyry belt), Targets (advanced stage with hallmarks to neighboring world-class mines) and Catalysts (three projects being drill tested, plus proposed spin out of Mongolian portfolio).