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Kincora’s IBEX transaction passes key milestone

Wednesday, October 26, 2016 0:21
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The tax authorities in Mongolia have now approved the proposed transaction between High Power Ventures and Kincora Copper (CVE:KCC), under which respective exploration acreage prospective for copper in Mongolia will be merged.

The transaction, which was first mooted in May of this year, will create a consolidated landholding inside Kincora of over 1,500 square kilometres of ground.

The majority of this ground lies across the geological trend which hosts the massive Oyu Tolgoi copper mine found and developed by mining legend Robert Friedland and now owned by Rio Tinto (LON:RIO).

The ground is also prospective for gold.

“It is pleasing to pass this key milestone towards the completion of the IBEX transaction,” said Kincora’s chief executive Sam Spring.

“This milestone supports the transition to the next stages of completing the IBEX transaction.”




Story by ProactiveInvestors


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