Kincora Raises $4 Million in Strongly Supported Placement

Executive Summary

• Kincora Copper Limited secured firm, irrevocable commitments for a A$4 million private placement at A$1.05 per share (≈1.7% discount to the 15‑day VWAP).
• The placement includes attaching options (one option per two new shares) with an exercise price of A$1.35, expiring three years from issue; Kincora intends to list these options on the ASX.
• Proceeds will fund accelerated drilling at the Condobolin project and additional exploration, geophysics, working capital, and potential new licence acquisitions.

Key Details

• Placement Size: A$4 million (before costs).
• Shares Issued: ~3,809,524 CHESS Depository Interests (CDIs) representing fully paid common shares.
• Issue Price: A$1.05 per CDI (≈1.7% discount to 15‑day VWAP).
• Attaching Options: 1 option for every 2 CDIs; exercise price A$1.35; 3‑year expiry; pending ASX listing subject to spread requirements and prospectus lodgement.
• Lead Manager: Alpine Capital Pty Ltd (sole lead manager).
• Fees & Consideration to Lead Manager: 6% cash fee on funds raised plus 476,190 placement options (subject to a statutory four‑month hold period).
• Use of Proceeds:
• Expanded near‑term drilling program at the 100 % owned Condobolin project (Cobar Basin).
• Geophysical surveys and target refinement for Fairholme, Trundle, and Jemalong porphyry projects.
• Working capital, offering costs, and potential acquisition of new licences/projects.
• Project Highlights:
• Condobolin: focus on shallow high‑grade Meritilga precious‑base metals discovery; drilling slated to start April testing extensions of gold‑silver‑copper‑lead‑zinc lenses.
• Cowal–Northparkes corridor projects (Fairholme & Trundle) host large mineralised footprints with copper‑gold and skarn targets.
• Timetable:
• Settlement of new shares/options – Wednesday 4 March 2026.
• Allotment of new shares/options – Thursday 5 March 2026.

Notable Quotes

“We are very pleased to welcome multiple new institutional investors… The additional capital will allow us to more aggressively explore and systematically advance our Cobar Basin, Northparkes and Cowal block projects.” – Sam Spring, President & CEO

Materiality Assessment: Material – Positive (significant financing that enables accelerated exploration and growth initiatives).