Kincora Copper: Second Major Earn-In Secured with AngloGold Ashanti

Kincora Copper and AngloGold Ashanti have signed a significant amendment to their Earn-in and Joint Venture Agreement for a second joint venture in the Northern Junee-Narromine Belt. The agreement supports expenditures of up to $100 million and covers projects like Nyngan South, Nevertire South, and Mulla.

Under the agreement, AngloGold Ashanti can earn a 70% interest by spending $25 million in the initial phase. They have the option to increase it to 80% with additional funding or studies. Kincora will continue to operate and receive a 10% management fee.

Drilling activities are being expanded at the Nyngan project, and new drilling is set to begin at the Nevertire and Nevertire South projects. The funding model is strong with over $110 million secured for potential asset-level funding.

The joint venture covers a significant strike length of over 100km and includes five projects. Kincora is on track to achieve its goal of third-party management fees supporting a self-funding financing model.

The companies are enthusiastic about the exploration opportunities in the Northern Junee-Narromine Belt, which presents new porphyry potential. The ongoing drilling programs are expected to continue into the third quarter of 2025, providing a steady stream of news and management fees.

The amendment agreement with AngloGold Ashanti covers new projects and allows for an accelerated timeline for expenditures. The companies are focused on unlocking the exploration potential in the Macquarie Arc region in Australia.

AngloGold Ashanti is a leading gold miner with projects across multiple continents, while Kincora Copper is actively exploring for copper-gold discoveries. The collaboration between the two companies aims to discover and develop new mineral resources for sustainable growth.