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Kincora Copper Limited (ASX:KCC)

ALERT: Price-sensitive ASX Announcement for KCC
Current share price for KCC : $0.740 -0.135 (-15.43%)+
Announcement
Release
19 May 2026 9:09AM
Price at Release
$0.875
Full Release
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Summary
Kincora Copper Limited, an Australia-focused gold-copper explorer, announced it has received a non-refundable Option Payment of US$1.5 million from Tumen Ail Coal LLC for the divestment of its Mongolian assets. This payment forms part of a larger US$10 million transaction that will transfer 100% ownership of Kincora's Mongolian subsidiaries to TAC. The transaction, free of taxes, is staged with subsequent payments of US$3.5 million and US$5 million planned, the latter being held in escrow until final shareholder registration. This strategic move aligns with Kincora's focus on its project portfolio in Australia.
Key Points
  • Kincora receives a US$1.5 million option payment from TAC.
  • Transaction includes US$10 million for Mongolian assets.
  • Transfer of 100% ownership of Mongolian subsidiaries to TAC.
  • Final payment to be held in escrow until shareholder registration.
  • Focus on gold-copper exploration in Australia.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.