Kincora Copper (ASX:KCC) has garnered significant interest from North American investors, securing a C$4 million private placement. The dual-listed explorer is focused on copper exploration. Kincora Copper employs a prospect generator business model, developing exploration concepts and forming joint ventures to mitigate capital risk.
The private placement saw participation from key cornerstone investors Rick Rule and Jeff Phillips. Rule, a veteran resources investor, highlighted Kincora’s prospect generator model, noting the company’s ability to leverage third-party exploration expenditures while minimising risk. He also requested a one-year hold period on the placement units.
Kincora has established partnerships with major industry players such as AngloGold Ashanti, Fleet Space Technologies, Earth AI, and Orbminco. In April, Kincora expanded its partnership with AngloGold to include a second joint venture in New South Wales. The company receives a 10% management fee as part of the AngloGold agreement, providing a continuous income stream.
Chairman Cameron McRae stated the financing puts Kincora in a strong position to accelerate its strategy, with backing from leading North American investors. Kincora plans to use the proceeds to fund its project generation strategy, drill its Condobolin project, and for general working capital. Prior to the placement, Kincora will undertake a 10-for-one share consolidation.
