Binding term sheet executed with Resilience Mining Mongolia Pty Ltd (“RMM”) for Kincora’s Mongolian asset portfolio retaining significant upside to exploration, project generation and development successes.
Benefits to Kincora:
- retain a 20% free carry interest on existing project portfolio
- to own 9.9% of RMM upon successful listing and raising on the ASX
- first right of refusal to gain a 20% interest in any new project generated by RMM
Vancouver, BC — December 14th, 2020
Kincora Copper Ltd. (the “Company”, “Kincora”) (TSXV:KCC) is pleased to announce a binding Option and Acquisition Agreement (“Agreement”) with Resilience Mining Mongolia Pty Ltd (“RMM”). RMM is a private Australian company that is an active explorer and project generator in Mongolia, lead by an executive team and board with extensive in-country Mongolia experience.