How Will Kincora Leverage Full Control of Its Mongolian Copper-Gold Assets?

Kincora Secures Full Ownership

In a strategic move that reasserts its position in Mongolia’s burgeoning copper-gold sector, Kincora Copper Limited has regained 100% ownership of its Mongolian portfolio. This follows Orbminco Limited’s decision to withdraw from their Earn-In Agreement, shifting its focus to Australian gold exploration. The portfolio includes the Bronze Fox project, a significant asset featuring a large JORC-compliant Mineral Resource Estimate and promising exploration targets.

A Portfolio with Depth and Potential

The Mongolian portfolio encompasses three extensive copper-gold intrusive complexes within the Southern Gobi belt, an area gaining global attention for its resource potential. Key assets include the Bronze Fox mining license, the adjoining Tourmaline Hills exploration license, and a proprietary year-round field camp. Notably, the West Kasulu prospect within Bronze Fox hosts an inferred mineral resource with a surface oxide component that could support a low-capital solvent extraction-electrowinning (SX-EW) copper cathode project.

Recent exploration activities, including drilling, mapping, and geophysical surveys, have confirmed expansion potential and identified new high-grade copper-gold zones. The Shuteen North target, never before drilled, presents an exciting new frontier with geological similarities to the world-class Oyu Tolgoi project’s lithocap system.

Strategic Plans and Market Context

With full ownership restored, Kincora is evaluating multiple pathways to unlock value. These include focused self-funded exploration, attracting third-party investment, and pursuing corporate initiatives such as submitting for a second mining license to cover the entire Bronze Fox project. Updated mining studies reflecting recent commodity price shifts are also on the agenda, potentially enhancing project economics.

This announcement arrives amid a wave of positive developments in Mongolia’s resource sector, including a major takeover of Xanadu Mines’ Kharmagtai project, Erdene Resource Development’s first gold pour, and ongoing progress at the Oyu Tolgoi mine, poised to become one of the world’s largest copper producers by 2030.

Legal and Operational Considerations

Kincora continues to navigate a tax assessment dispute linked to a 2016 merger, with the Mongolian Supreme Court scheduled to hear the case imminently. While this legal matter introduces some uncertainty, the company’s operational focus remains on advancing exploration and development activities that could significantly enhance the portfolio’s value.

Overall, Kincora’s regained control of its Mongolian assets positions it well to capitalize on the region’s growing copper-gold opportunities, balancing near-term exploration with longer-term development ambitions.