viewKincora Copper Ltd

Kincora Copper shares nudge higher as Asia fund becomes largest and cornerstone shareholder

The investment removes the recent stock overhang, the company said

Kincora is focused on Tier 1 copper-gold projects in Mongolia

Junior explorer Kincora Copper Ltd (CVE:KCC) has a new largest shareholder - in the shape of the LIM Asia special situations master fund Ltd (LASSMF), which recently acquired, via the secondary market, a 28.7% stake.

"The secondary market acquisitions are a clear sign of confidence for the new board and the strategy Kincora is pursuing," said Kincora chief executive Sam Spring, who noted a recent period of uncertainty on the share price.

"Removing the overhang provides the foundation to again focus on advancing the first modern Tier 1 drill testing and district-scale exploration program in this highly mineralized belt where we hold the dominant position and are looking to drill test two targets this field season, and be in a favorable position for further expansion activities,” he said.

"We are excited to have secured a strategic position in Kincora given their outlined targets and dominant landholding in the world-class Southern Gobi copper-gold belt," said LIM's founder, chairman and chief investment officer, George W. Long.

"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."

Kincora Copper shares are up 3.85% to stand at C$0.135.

Quick facts: Kincora Copper Ltd

Price: 0.07 CAD

Market: TSX-V
Market Cap: $14.57 m

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