Kincora Copper (TSE:KCC) has released an update.
Kincora Copper has entered into a binding agreement with Woomera Mining, granting Woomera the right to earn up to an 80% interest in Kincora’s Mongolian Bronze Fox copper-gold project by investing up to US$4 million over 5 years. The deal also includes options for Woomera to acquire the remaining interest or enter into a shareholders agreement, and sees Kincora receiving shares and cash from Woomera, becoming its largest shareholder. This strategic partnership allows Kincora to focus on its core projects in New South Wales while retaining significant upside in the Mongolian assets.
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