Monday, March 3, 2014

Cameron McRae appointed to Kincora’s advisory board

Kincora Copper Limited announced the appointment of Cameron McRae to Kincora’s advisory board.


“Kincora’s team and activities provides a unique opportunity and natural fit for me. I am enthusiastic to be assisting in the continued advancement of the company’s activities in Mongolia and copper prospects in the South Gobi region. Bronze Fox is possibly the most advanced and prospective exploration project in that region with a strong existing team in place,” said McRae.

McRae will assist management and the board of Kincora with stakeholder relations including government, industry, community, and social groups, discussions with investors including potential strategic groups, and provide general advice including continued exploration, potential development and mergers and acquisitions (M&A) activities, as the company looks to advance activities at its wholly owned Bronze Fox copper porphyry project.

McRae was most recently President and Chief Executive Officer of Oyu Tolgoi, Rio Tinto’s Country Director for Mongolia, and has over thirty years of mining industry experience. He has broad experience across multiple mineral sectors, held three CEO positions of operating mining companies, led successful M&A projects and was involved in the landmark merger of RTZ plc and CRA Ltd that created the Rio Tinto Group. In his last role McRae oversaw over six billion USD investment and the successful commencement of commercial production from Oyu Tolgoi, a world-class copper porphyry deposit.

McRae who remains based in Mongolia, was earlier this week appointed executive chairman to SkyPath Partners LLC, an advisory, strategic consulting and principal investment firm based in Ulaanbaatar. McRae will be a foundation director of a new Mongolia institute liaising with the business associations and the government in the development of the nation’s business environment and policy.

Commenting on today’s announcement, Sam Spring, President and CEO of Kincora, said, “We are very excited to have Cameron join us and being able to benefit from his extensive experience, relationships and networks in the industry, particularly those built overseeing Oyu Tolgoi, the largest single mining investment project in northeast Asia, and in his recently appointed positions. We believe Cameron will complement our existing teams skill set, in-country networks and proactively add-value as we look to advance our Bronze Fox copper project.”

Kincora will grant to McRae, in accordance with the company’s stock option plan and ensuring a portion of compensation is consistent with Kincora’s long-term success, options to purchase up to an aggregate of 725,000 common shares exercisable on or before February 27th, 2018 at a price of 0.105 USD per share.

Kincora Copper Limited is a junior resource company engaged in the acquisition, exploration and development of mineral properties with a focus on copper/gold projects in Mongolia.

Kincora is currently exploring its wholly owned Bronze Fox project which hosts an extremely large and strategically located mineralized footprint covering over 40 square km within a 223 square km license area. Analysis has confirmed a fertile arc for porphyry style deposits with extensive lower grade copper-gold mineralization, with localized areas of higher grade, intersected in many drill holes over the last three years, and localized higher grade, across a seven km strike.

Kincora recently announced some highly encouraging results from one of the most active copper exploration programs in Mongolia during 2013. Bronze Fox is one of the most advanced, prospective and youngest exploration licenses in the South Gobi copper porphyry belt, located approximately 140km along the Oyu Tolgoi mineralization trend and 40 km from Tsagaan Suvarga.

Short URL: http://ubpost.mongolnews.mn/?p=8161

No comments:

Post a Comment