Download the Prospectus
Pre Money Equity Valuation
$14,142,000
Min Raise
$8,000,000
Max Raise
$10,000,000
Estimated Close
2021-03-19
Issue Type
IPO
Lead Manager
Bridge Street Capital Partners Pty Ltd, Morgans Financial Ltd
Type of Securities
CDIs
Date First Lodged
01/03/2021
Offer Costs $
$950,000
Market Cap Max
$24,142,000
Key Executives
Cameron McRae (NED and Chairman), John Holliday (INED), Ray Nadarajah (INED), Lewis Marks (NED), Jonathan Spring (ED)
Company Address
Unit 2, 1127 High Street, Armadale VIC 3143
Exchange
ASX
Chairman's Letter

Dear Investor,
At Kincora Copper Limited (TSX-V: KCC) (Kincora or the Company) our focus is on the discovery of world-class
copper gold porphyry associated deposits with the near term ambition to become the leading listed pure play
explorer in what we believe is one of the most significant gold rich porphyry regions in the world, the Lachlan Fold
Belt (LFB) of Australia.
On behalf of the Company’s Directors, it is my pleasure to invite you to become an investor as we embark on our
proposed dual listing on the ASX and accelerate our drilling activities from one to three projects within the LFB in
2021. In our view, these priority projects demonstrate potential hallmarks of neighbouring world-class discoveries
which are now major mines. We are planning over 15,000 metres of drilling shortly post listing as part of a minimum
of 34,000 metres total drilling program across the projects with our drill targeting utilizing established exploration
models.
I lead an experienced, well-balanced Board of Directors and management team who have “skin in the game” equity
ownership and are backed by a significant institutional and family office shareholder base. We believe we have a
very capable team that above all embraces the need to do things the smart and correct way, leveraging the fact
that the majority of our team members are either Australian or have an extensive background operating in Australia
with leading exploration and mining organisations.
For explorers, we consider the technical team is very important. In our opinion, Kincora has one of the best industry
experienced technical teams for a junior company that, during their careers, have made multiple world-class copper
and gold discoveries. The team also has unique knowledge and a track record of discoveries in the LFB. The
board’s technical director, John Holliday, is a leading porphyry expert and based in this region. He is backed up by
a strong Technical Committee and wider team. John is best known as being key to Newcrest’s origination and,
discovery and management of the Cadia project during the exploration phases. Cadia is now one of Australia’s
largest and most profitable gold mines.
Our team over the last year has assembled a strategic and district scale position and project pipeline of early stage
to advance walk up drill target projects in areas of the Macquarie Arc with significant exploration potential, within
the LFB, in Central West New South Wales (NSW), Australia. For more information about these projects, please
refer to Section 2 (About Kincora).
The purpose of the Offer is to raise a minimum of A$8,000,000, and a maximum of A$10,000,000 (in each case,
before costs), by the issue of CHESS Depositary Interests (CDIs) over fully paid ordinary shares in the capital of
the Company (Shares). A minimum of 40,000,000 CDIs and a maximum of 50,000,000 CDIs will be issued, at an
issue price of A$0.20 per CDI. The CDIs will be issued at a ratio of 1 CDI for 1 Share.
High priority drilling commenced in April 2020 and continues at our flagship Trundle project within the LFB, with
very promising copper and gold results. Our first hole returned 51 metres at 1.17 g/t gold and 0.54% copper
commencing from only 39 metres depth.
The Trundle project is situated in the same minerals complex as Northparkes, Australia’s second largest porphyry
mine. Trundle is the only brownfield porphyry project held by a listed junior in the LFB, and we consider it rare for a
junior explorer to secure such a brownfield opportunity in any jurisdiction let alone a Tier 1 location such as
Australia.
The LFB is a world-class gold and copper region hosting an estimated endowment of over 100Moz gold and over
24Mt copper1
. It is Australia’s foremost porphyry region and serviced by favourable existing infrastructure. The LFB
hosts flagship operations including Cadia (the world’s largest currently known alkalic porphyry system2
), Cowal (Evolution Mining’s flagship mine), and Northparkes (a cluster of porphyry deposits including five notable gold rich
copper orebodies supporting Australia’s second largest copper porphyry mine). While the LFB has enjoyed a
mining history for well over a hundred years, the amount of extensive exploration to depth in most regions has been
limited and, in our opinion, in certain projects ineffective. It is very evident to our team that there is a significant
opportunity in the LFB by applying new exploration concepts and techniques.
The recent Boda porphyry discovery by Alkane Resources, Alkane’s brownfield drilling results at its Tomingley gold
mine, Evolution Mining’s significant resource inventory growth at Cowal, the significant resource growth at
Northparkes, CleanTeq’s battery metals development stage complex at Sunrise and Kincora’s initial drilling results
at Trundle highlight the regions exploration potential. As summarised by Richard Schodde, a globally recognised
minerals economist from MinEx Consulting, “as an economic geologist … NSW, Lachlan Fold Belt, for copper and
gold, is the place to be”3
.
I am often asked, why dual list on the ASX? In the Board’s view this is the natural stock exchange now for the
Company, Kincora’s primary focus and value drivers are related to our LFB assets. Our assets and team are better
known in this domestic market, and by dual listing on the ASX we are seeking to access local investors who have
an interest in funding local exploration and mining projects, and improve the Company’s liquidity.
This Prospectus contains detailed information about the Offer and the current and proposed operations of the
Company, as well as the risks pertaining to an investment in the Company. Potential investors should carefully
consider those risks (detailed in Section 5 (Key Risks)). Before you make your investment decision, I urge you to
read this Prospectus in its entirety and seek professional advice if required.
In all aspects of our business, the Company retains our focus on the safety and wellbeing of our staff, engaging
with stakeholders and creating shareholder value. On behalf of the Directors, I invite you to consider this
opportunity to invest in the Company and look forward to welcoming you as an investor.
Yours faithfully
Cameron McRae
Chairman
Kincora Copper Limited