Cameron McRae rejoins Kincora board as chairman
Kincora Copper announced on August 13 that appointed former President and CEO of Oyu Tolgoi and executive director of the Business Council of Mongolia (BCM) Cameron McRae as chairman of the board.
Having been based in Mongolia since late 2010, McRae is an independent non-executive director of Erdene Resource Development and founder of Tarva Investment & Advisory, a broad-based consultancy firm. McRae is active in Mongolian public life, as an executive director of the Business Council of Mongolia, and as a trustee of the Arts Council and founder of the Institute of National Strategy. McRae was schooled in Australia and Africa and holds a commercial degree and an MBA (Monash University).
Concurrent with the appointment of McRae to the board, Kincora announced that Anthony Jackson has stepped down as a non-executive director remaining CFO, the latter a role he has filled for Kincora since September 2014.
“Kincora’s recent corporate transition phase has now concluded. An experienced board and senior team, with complementary skill sets, will support the next leg of the company’s exploration and expansion strategy. The members of the board and technical committee have over 40 years relevant operating experience in Mongolia, and over 150 years specific sector experience, with two board members based in Mongolia,” the company said.
Kincora will reportedly grant to McRae options to purchase up to an aggregate of 125,000 common shares each exercisable on or before August 9, 2020 at a price of 0.20 USD per share. McRae is an existing 1.7 percent shareholder in Kincora, having been an investor in the company’s 2014 and 2016 non-brokered private placements.
“We are very pleased to welcome Cameron as our new chairman. For the majority of the period post being president of Oyu Tolgoi, Cameron been a board advisor to Kincora assisting with stakeholder relations, strategic direction and operations. He has a strong track record of adding value for Kincora shareholders, and other stakeholders in businesses he has previously lead,” said Kincora’s President and CEO, Sam Spring.
“Re-joining in this expanded capacity will only further strengthen our business with a senior, experienced and hands on chairman. Cameron’s appointment is the last major step in the recent shareholder and board transition process. Kincora is now in the strongest position to accelerate exploration activities in the Southern Gobi coppergold belt where we hold the dominant license portfolio, as well as pursue further countercyclical expansion opportunities. We look forward to shortly providing updates on our exploration progress and plans,” Spring added.
Kincora is a junior resource company engaged in the acquisition, exploration and development of mineral properties, with a focus on Tier 1 copper-gold projects in Mongolia.