LASSMF be­comes Kin­cora Cooper’s big­gest share­holder

The UB Post - - Domestic -

Kin­cora Cop­per, a ju­nior re­source com­pany listed on the Cana­dian TSX Ven­ture Ex­change, an­nounced that a new corner­stone in­vestor, the LIM Asia Spe­cial Sit­u­a­tions Master Fund Ltd (LASSMF), ac­quired a 28.7 per­cent in­ter­est in Kin­cora. The sec­ondary market trade makes LASSMF the largest share­holder in Kin­cora.

"We are very pleased to wel­come LASSMF, a fund man­aged by a pre­em­i­nent Hong Kong in­vest­ment man­ager, to strengthen our regis­ter and tran­si­tion out of the re­cent pe­riod of un­cer­tainty that has weighed on Kin­cora’s share price,” said Sam Spring, Kin­cora’s pres­i­dent and CEO.

“The sec­ondary market ac­qui­si­tions are a clear sign of con­fi­dence for the new board and the strat­egy Kin­cora is pur­su­ing. Removing the over­hang pro­vides the foun­da­tion to again fo­cus on ad­vanc­ing the first modern Tier1 drill test­ing and dis­trict scale ex­plo­ration pro­gram in this highly min­er­al­ized belt where we hold the dom­i­nant po­si­tion and are look­ing to drill test two tar­gets this field sea­son, and, be in a fa­vor­able po­si­tion for fur­ther ex­pan­sion ac­tiv­i­ties,” Spring added.

LIM’s Founder, Chair­man and Chief In­vest­ment Of­fi­cer Ge­orge W. Long said, “We are ex­cited to have se­cured a strate­gic po­si­tion in Kin­cora given their out­lined tar­gets and dom­i­nant land hold­ing in the world-class South­ern Gobi cop­per­gold belt. We have been in­vest­ing in Mongolia for over 15 years and also have ex­pe­ri­ence in­vest­ing in min­ing and nat­u­ral re­source projects in Cen­tral Asia, In­done­sia, Aus­tralia, the Philip­pines, and other parts of the world.

“The com­pany has a strong share­holder regis­ter back­ing the team which is cred­ited with mul­ti­ple Tier 1 cop­per dis­cov­er­ies, has a proven track record in Mongolia, is pur­su­ing fur­ther coun­ter­cycli­cal ex­pan­sion, and we see op­por­tu­ni­ties to sup­port the com­pany given the struc­turally at­trac­tive medium term out­look for cop­per prices”.

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