Transcription of The Stock Network Interview with Kincora Copper (ASX/TSXV: KCC), President and CEO Sam Spring
Lel Smits: Kincora Copper continues to advance its hybrid prospect generator strategy, with partner funded drilling at Nevatized South, nine holes completed at Condobolin, and new exploration targets generated through AI and traditional geological reviews. The company is also progressing potential new partners across four projects, while holding around AU$12 million in cash and expecting a further AU$5 million from the divestment of its Mongolian assets. I’m joined today by CEO Sam Spring to discuss Kincora’s June quarter results and the exploration and corporate catalysts ahead.
He says more deals and more drilling are ahead. Sam, welcome back to the Stock Network.
Sam Spring: Thank you for having us, Lel.
Lel Smits: Now, over the last quarter, partner funded drilling continued with Anglo Gold Ashanti at Nevatized South, while King Kora completed nine holes at Condobolin, the first systematic drilling there in more than a decade. Can you outline for us really the key results and catalysts that investors should be watching from this point?
Sam Spring: Yeah, and we had a really good quarterly JV meeting earlier this week with Anglo Gold Ashanti. Today, we’ve just wrapped up a really good in-house workshop, and Condobolin obviously was a key part of that.
What I’d expect to see in the near term is drilling updates for both those projects, plus a wider strategy of what are we looking to do in the late spring, early summer.
Lel Smits: Excellent. You’ve also over the recent months updated us on AI-driven exploration and combined really the traditional geological reviews with next generation AI analysis.
That’s to generate and refine targets across your New South Wales portfolio. Can you give us an update here on how this works, shaping up also the company’s exploration strategy?
Sam Spring: Yeah, and those reviews have been really insightful. From both having geomorphic AI do those reviews, and they’ve done 28 reviews for us already, we’ve been able to refine targets on our existing ground, prioritise, rank, and look to also pick up ground.
There was some extensions we pegged next to Fairholme, some extensions just in the last week that we pegged next to Cowleast as a result of these reviews. That’s also helped us formulate a structured process with looking to get asset-level partners in for some of our flagship projects, Trundle, Fairholme, Cowleast. So that review process has really been following a systematic process, but now creates the right one way for us getting out in the field, drilling some of these targets ourselves, but also really advancing partner conversations.
Lel Smits: And more on those partner conversations, as you mentioned, you’re progressing new partners for Trundle, Fairholme, Cowleast, and Condouble, while holding around 12 million Australian in cash, also expecting another 5 million US from the Mongolian divestment. How does this position concur for the next phase of its prospect generator strategy?
Sam Spring: Yeah, and it’s just got to be more deals and more drilling. In the last quarter, we were able to do the Mongolian divestment.
We’ve received 5 million US so far, another 5 million to come. What this workshop that we’ve had today has been doing is looking at where do we prioritise and recycle some of that capital, and some of that self-funded exploration over the summer. I think that’ll be a really exciting and extremely busy period for us, with a lot of news flow to come.
So I guess, expect further details of that in the near future.
Lel Smits: Sam, thank you for the update from Kincora Copper.
Sam Spring: Thank you, Lel.
Lel Smits: Thank you.
Ends