- The LIM Asia Special Situations Master Fund Limited, a fund managed by LIM Advisors Limited ("LIM"), has acquired a 28.7% interest in Kincora
- The off-market transactions remove recent overhangs to Kincora's share price
- LIM is one of the longest operating alternative investment managers in Asia and it invests across the corporate and capital structure in deep value and special situation opportunities
VANCOUVER, June 25, 2018 /CNW/ - Kincora Copper Ltd. (the "Company", "Kincora") (TSXV: KCC) is pleased to welcome a new cornerstone investor, the LIM Asia Special Situations Master Fund Ltd ("LASSMF"). LASSMF has recently acquired, via the secondary market, a 28.7% interest in total to become Kincora's largest shareholder.
Sam Spring, President and CEO commented, "We are very pleased to welcome LASSMF, a fund managed by a pre-eminent Hong Kong investment manager, to strengthen our register and transition out of the recent period of uncertainty that has weighed on Kincora's share price.
The secondary market acquisitions are a clear sign of confidence for the new board and the strategy Kincora is pursuing. Removing the overhang provides the foundation to again focus on advancing the first modern Tier1 drill testing and district scale exploration program in this highly mineralised belt where we hold the dominant position and are looking to drill test two targets this field season, and, be in a favourable position for further expansion activities."
LIM's Founder, Chairman and Chief Investment Officer, George W. Long, said "We are excited to have secured a strategic position in Kincora given their outlined targets and dominant land holding in the world-class Southern Gobi copper-gold belt. We have been investing in Mongolia for over 15 years and also have experience investing in mining and natural resource projects in Central Asia, Indonesia, Australia, the Philippines, and other parts of the world.
The Company has a strong shareholder register backing the team which is credited with multiple Tier 1 copper discoveries, has a proven track record in Mongolia, is pursuing further countercyclical expansion, and we see opportunities to support the Company given the structurally attractive medium term outlook for copper prices".
Link to Kincora's updated presentation: www.kincoracopper.com/investors/presentations
LIM is one of the longest operating alternative investment managers in Asia.
Further information: www.limadvisors.com
Kincora is a junior resource company engaged in the acquisition, exploration and development of mineral properties, with a focus on Tier 1 copper-gold projects in Mongolia.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Kincora Copper Limited
For further information: Sam Spring, President and Chief Executive Officer, [email protected] or +61431 329 345; www.kincoracopper.com