Kincora Copper's more aggressive exploration is 'very positive step' - broker
ENP Newswire - 01 November 2012
(c)2005 - Electronic News Publishing - http://www.indiapublishing.co.uk
Release date- 30102012 - Mongolia-focused Kincora Copper (CVE: KCC) is taking a 'very positive step' by using more aggressive geophysical tools, according to broker Ocean Equities.
The broker says this will help the Vancouver-based company target deep copper porphyries. 'There is only so much information that can be gleaned from surface exploration, and ad hoc drilling in areas of suspected deep mineralization can be an ineffective way of finding economic ore bodies,' said analyst Christopher Welch.
'These deeper sensing geophysical tools are now well advanced and cheaper to employ and should allow Kincora to better tune its exploration efforts in the area.' The analyst added that Kincora's Bronze Fox project 'clearly warrants' more drilling following the 'encouraging results' earlier this year.
While it has yet to produce a company-making drill intercept, Welch says broad mineralization zones of up to 1,000m intervals seen in the earlier drill core suggest there is a large copper system at Bronze Fox.
He said that Kincora will also start assessing the potential to develop an oxide copper project at Bronze Fox, which is a slight change of tack for the company. Associated near-surface copper mineralization could potentially support small-scale standalone copper mines.
Welch says this could provide essential cash flow during continued exploration of the copper porphyry targets that would reduce Kincora's dependence on the capital markets to develop its flagship asset. 'Moreover, successful construction of a copper mine in Mongolia would prove Kincora's abilities to build a mine and positive cash flow from an open pit project would differentiate the Company from a peer group of other juniors exploring for copper in Mongolia,' the analyst added.
This comes after the company revealed it plans to raise C$6 mln through a private placing to continue drilling and exploration at Bronze Fox, as well as for working capital.
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[Editorial queries for this story should be sent to newswire@indiapublishing.co.uk]
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(c)2005 - Electronic News Publishing - http://www.indiapublishing.co.uk
Release date- 30102012 - Mongolia-focused Kincora Copper (CVE: KCC) is taking a 'very positive step' by using more aggressive geophysical tools, according to broker Ocean Equities.
The broker says this will help the Vancouver-based company target deep copper porphyries. 'There is only so much information that can be gleaned from surface exploration, and ad hoc drilling in areas of suspected deep mineralization can be an ineffective way of finding economic ore bodies,' said analyst Christopher Welch.
'These deeper sensing geophysical tools are now well advanced and cheaper to employ and should allow Kincora to better tune its exploration efforts in the area.' The analyst added that Kincora's Bronze Fox project 'clearly warrants' more drilling following the 'encouraging results' earlier this year.
While it has yet to produce a company-making drill intercept, Welch says broad mineralization zones of up to 1,000m intervals seen in the earlier drill core suggest there is a large copper system at Bronze Fox.
He said that Kincora will also start assessing the potential to develop an oxide copper project at Bronze Fox, which is a slight change of tack for the company. Associated near-surface copper mineralization could potentially support small-scale standalone copper mines.
Welch says this could provide essential cash flow during continued exploration of the copper porphyry targets that would reduce Kincora's dependence on the capital markets to develop its flagship asset. 'Moreover, successful construction of a copper mine in Mongolia would prove Kincora's abilities to build a mine and positive cash flow from an open pit project would differentiate the Company from a peer group of other juniors exploring for copper in Mongolia,' the analyst added.
This comes after the company revealed it plans to raise C$6 mln through a private placing to continue drilling and exploration at Bronze Fox, as well as for working capital.
Proactive Investors facilitate the largest global investor network across 4 continents in 4 languages. With a team of analysts journalists & professional investors Proactive produce independent coverage on 1000's of companies across every sector for private investors, private client brokers, fund managers and international investor communities.
Proactive Investors is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.
You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.
You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account.
In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about.
You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.
From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.
Contact:
Tel: +44 (0)207 989 0813
Email: action@proactiveinvestors.com
[Editorial queries for this story should be sent to newswire@indiapublishing.co.uk]
((Comments on this story may be sent to info@enpublishing.co.uk))
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