Sport Investors League
  • Politics
  • Stocks
  • Investing
  • Business

Sport Investors League

  • Politics
  • Stocks
  • Investing
  • Business
Investing

Kincora Copper Expands Fleet Space Partnership for Exploration at Wongarbon Project

by admin October 18, 2024
October 18, 2024
Kincora Copper Expands Fleet Space Partnership for Exploration at Wongarbon Project

Kincora Copper (ASX:KCC,TSXV:KCC) announced on Wednesday (October 16) that it has expanded its partnership with Fleet Space Technologies as it works to advance its Wongarbon project in New South Wales, Australia.

The expanded partnership will include a listed equity investment, as well as multiphysics surveys to identify and refine targets at Wongarbon. Fleet Space will also have the right to drill test targets to earn an asset-level interest.

Kincora said it will raise AU$1.27 million via a strategic investment by Fleet Space, along with participation from existing major shareholders, directors and new investors. Fleet Space will contribute AU$400,000.

Proceeds of the financing will primarily be used to undertake ambient noise tomography and gravity surveys at Wongarbon, which has never been drilled, along with drilling and exploration at the Condobolin project.

Under the deal, Fleet Space has the right to earn a 20 percent stake in Wongarbon by drilling at least 2,000 meters.

Located in the interpreted extension of the Macquarie Arc’s Northern Molong Belt, Wongarbon is considered by Kincora to be a strong prospect for a new large-scale porphyry copper-gold complex.

“Kincora and Fleet Space strongly believe the Wongarbon project has the potential to be a new porphyry district and it is a prime candidate for major discovery,” said Sam Spring, president and CEO of Kincora.

He added, “The results of our recent multiphysics surveys at our Nyngan Project are pending and the structure of this expanded partnership with Fleet Space provides unique alignment.”

Fleet Space will be the operator of the multiphysics surveys at Wongarbon, deploying its proprietary ExoSphere technology stack. Deployment will be done end to end, from target generation to drill testing at Wongarbon. Fleet Space notes that it has invested significantly in the Macquarie Arc, giving it unique knowledge of the area.

“Wongarbon’s geological and geophysical setting is favourably located in a highly prospective area of the arc,” commented Federico Tata-Nardini, director, CFO and financial strategy and investment officer at Fleet Space.

“It has clear analogues of the nearby porphyry complexes and existing Tier 1 deposits. We believe the project is at the stage where we can add significant value and mutually share major discovery potential with Kincora.”

The operation will be the first new exploration done at the project in almost 30 years and will advance soon. Kincora said the Fleet Space partnership is its fifth recent deal and that it is proposing further partnerships for its other projects.

Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

0
FacebookTwitterGoogle +Pinterest
previous post
5 Best-performing Copper Stocks on the TSX in 2024
next post
5 Best-performing Canadian Uranium Stocks of 2024

Related Posts

Finlay Minerals Receives TSX Venture Exchange Approval for...

May 3, 2025

Laguna Verde Resource Update

January 21, 2025

True North Copper Limited (ASX: TNC) – Trading...

May 23, 2024

Blue Lagoon Announces Final Tranche Of Private Placement

April 17, 2025

Retraction of Lo Herma Scoping Study Statements

June 6, 2025

Lundin Mining to Divest Neves-Corvo and Zinkgruvan Operations...

December 10, 2024

3 Key Themes from Fastmarkets’ 2025 Lithium Supply...

July 3, 2025

Proposed Acquisition of 2D Generation and Capital Raise

October 23, 2024

John Feneck: Gold Miners Set Up for Strong...

July 15, 2024

CSE Bulletin: Name Change – Tisdale Clean Energy...

October 1, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent

    • Trump nominees squeezed between ‘blue slips’ and blue obstruction

      September 1, 2025
    • Trump says he will require voter ID with executive order

      September 1, 2025
    • Former FBI Director Robert Mueller has Parkinson’s disease: report

      September 1, 2025
    • Commencement of Henbury Field Program

      September 1, 2025
    • RCM to Acquire Webbs Consol Silver Project from Lode Res.

      September 1, 2025

    Categories

    • Business (1,092)
    • Investing (2,946)
    • Politics (3,598)
    • Stocks (1,155)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sportinvestorsleague.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 sportinvestorsleague.com | All Rights Reserved