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HomeMongolia NewsKincora provides corporate update for Mongolian portfolio

Kincora provides corporate update for Mongolian portfolio

Since entering the Joint Venture Agreement on June 30th 2021, the Company has granted Resilience a number of extensions to the date for satisfaction of the conditions to the Joint Venture Agreement which include Resilience achieving a minimum capital raising and admission to ASX. The most recent extension was the subject of the Company’s March 1st 2022, announcement titled “Resource estimate work commenced from Bronze Fox project in Mongolia“. As at today’s date, notwithstanding the ongoing extensions, key conditions to the Joint Venture Agreement remain unsatisfied.

The Company wishes to advise that it has issued a notice to Resilience notifying it of the failure of conditions under the Joint Venture Agreement. The effect of the notice is that, unless a mutually agreeable further variation can be reached, the Joint Venture Agreement will terminate in 30 days and enables the Company to pursue other strategic options for the Mongolian…

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