Categories: Mining Stocks
Topics: Copper Stocks

Kincora Copper (TSX-V: KCC)(OTC: BZDLF) CEO Sam Spring on Optioning of Mongolian Assets & Fully Funded Drilling in 2026

 

Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the president and CEO of the very, very busy and cashed-up Kincora Copper (TSX-V: KCC)(OTC: BZDLF), Mr. Sam Spring. Sam, great to have you on. How are you?

Sam Spring: Really well. Thank you, Gerardo.

Gerardo Del Real: Well, listen, you just had some news. I mentioned how busy you are. You have rigs turning, you have drill programs scheduled seemingly for the remainder of the year. You now have a balance sheet, with this bit of news, that is enviable, especially by junior resource company standards.

So with all that being said, can you talk about today's news and then just give some context to it, because I think look, it's in the junior resource space as you know, it's shots on goal and man, there's a lot of shots on goal for a major discovery, partner funded discoveries, 100% owned discoveries, and you got the capital to do it now.

Sam Spring: We do, Gerardo. And I guess the news today of a deal for our Mongolian assets and a cash divestment of up to 10 million US is pretty material for us. We've received one and a half million as a non-refundable option payment. There's stage payments for the balance of that 10 million through the course of the year.

But we already had seven million as we reported just recently in our quarterly, and the business model really is predicated on the heavy lifting being done by our third partner asset level partners. And so far, prospect generator model has seen over 10 million of partner funded investment over 20,000 meters of drilling, and we're drilling in two projects at the moment. So it's a really exciting period.

But I think really importantly what this Mongolian deal does is help illustrate value for projects that are sitting in the portfolio that, there's a few others that we're working for other deals, that I think at the moment aren't getting ascribed value. Watch this space for more deals.

Gerardo Del Real: Well, listen, I can't let you go without touching on the drilling. Rigs are turning. How's things coming along? Can you provide an update there?

Sam Spring: Yeah, going really well, and apologies for the background noise just at the airport going up to the site to have a look at the drill core. Initial visuals from drilling at our Condobolin project look really good. Drilling continues with AngloGold Ashanti, and that project up in the northern part of the Macquarie Arc really is looking pretty compelling and there's a lot of work there. And as you touched on, there should be continual news flow from the drill bits through the course of the year, and I'm pretty excited by what we're seeing.

Gerardo Del Real: Well, you've proven yourself to be very, very well versed in executing the business model and generating substantial deal flow. How are things on that front? Are you still looking at things out there?

Sam Spring: We are. Yeah. I guess we're looking at further opportunities, but still really focused on harnessing value for the assets we've already got in the project portfolio. There's a couple of reviews that are sort of at the concluding stages for really our flagship portfolio projects in New South Wales, and asset level conversation with sort of the major mining companies, will really kick off in earnest there.

But also we've got the treasury to be able to do some work programs ourselves with those projects. So it'll be an interesting conversation at the board level and with major shareholders of, how do we deploy this capital and do we sort of execute on some programs ourselves, or do we really hunker down and look to harness some of these ongoing conversations with asset level partners? So plenty of catalysts and news flow to come.

Gerardo Del Real: Well, listen, gold's at $4,500. Debt levels continue to surge all around the world. Copper recently hit new all time highs. Heck of a time to have the kind of treasury that you boast now, and really looking forward to getting assays in and a peek at what you got out there.

Sam Spring: Absolutely. And it's a great time to have this business model where the majors are increasingly looking for new growth opportunities in the exploration space and having projects that sort of fit their profile. So it's a really good confluence of factors.

Gerardo Del Real: Excellent. Sam, thank you so much for your time. Appreciate it. As always, chat soon, sir.

Sam Spring: Fantastic. Thank you, Gerardo.

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