Kincora Cooper identifies high priority porphyry targets
Kincora Copper’s (CVE:KCC) latest Induced Polarisation (IP) programme has identified a number of targets at its Bronze Fox project in Mongolia, it said today.
Although results are only preliminary, the programme and additional desktop work have indicated a number of high priority, potential world-class size, copper porphyry targets offering significant resource potential in the project area, Kincora said.
The company had a cash balance at end September US C$1.65m (£940,000) with net working capital of C$1.46mln, which will support at least minimum expenditure requirements on Bronze Fox in 2014.
Discussions with potential strategic investors regarding technical and financial synergies remain ongoing, it said.
The company is also attempting to recover its licences at Golden Grouse, Tourmaline Hills and North Fox that were part of a group of 106 licences revoked by the Mongolian government following a criminal action involving former government officials.
A C$7mln write down for Golden Grouse was largely responsible for C$7.5mln in the three months to September. Losses for the nine months to September were C$8.62mln.
Although results are only preliminary, the programme and additional desktop work have indicated a number of high priority, potential world-class size, copper porphyry targets offering significant resource potential in the project area, Kincora said.
The company had a cash balance at end September US C$1.65m (£940,000) with net working capital of C$1.46mln, which will support at least minimum expenditure requirements on Bronze Fox in 2014.
Discussions with potential strategic investors regarding technical and financial synergies remain ongoing, it said.
The company is also attempting to recover its licences at Golden Grouse, Tourmaline Hills and North Fox that were part of a group of 106 licences revoked by the Mongolian government following a criminal action involving former government officials.
A C$7mln write down for Golden Grouse was largely responsible for C$7.5mln in the three months to September. Losses for the nine months to September were C$8.62mln.
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