Resilience Mining Set For Listing After Completing Prospectus
Kincora Copper Ltd (TSXV and ASX:KCC) reports that following a seven-day exposure period, the offer of securities by Resilience Mining Mongolia Limited (proposed ASX ticker: RM1) under its IPO prospectus to be listed on the ASX has commenced.
Under the prospectus, RM1 proposes to raise a minimum of A$5 million and a maximum of A$6 million of new shares and issue a minimum of A$1,631,676 and a maximum of A$1,769,024 of consideration shares to Kincora.
The Offer is now open with Novus Capital Limited the Lead Manager.
Kincora President & CEO, Sam Spring, who is proposed to join the board of RM1 following listing, said the Resilience board has extensive experience in the mining and exploration fields, and has been active in Mongolia since 2016.
“Subject to successful admission to the ASX, RM1 will be well funded to advance the existing Mongolian portfolio, team and project generation strategy as a focused and motivated partner. Resilience has identified five immediate prospects for drilling, testing porphyry associated copper and gold mineralisation.”
Key use of funds for RM1 (subject to successful IPO) is drilling at the Bronze Fox mining license and neighbouring Tourmaline Hills exploration license. Reviews are proposed to commence of the at/near surface oxide mineral systems at Bronze Fox (within the existing mining license and existing exploration target) for drilling and progression of desktop economic studies. Field activities are expected to commence shortly after admission to the ASX.
For further information please visit: https://kincoracopper.com/