4-Traders: Origo Partners PLC – Investee Company Update

Origo Partners Plc (“Origo”) is pleased to announce that its portfolio company Kincora Copper (“Kincora” or the “Company”), has reached an agreement in principle with Forbes & Manhattan Inc. (“F&M”) to acquire mineral exploration licences adjoining its Bronze Fox project in Mongolia. Following the transaction, Toronto listed Kincora will hold licenses that cover an area close to 60,000 hectares, located 120km northeast of the Oyu Tolgoi project and on the same copper belt. The Company is expected to spend US$2 million on the exploration of the newly acquired license areas, formerly explored by Ivanhoe Mines, over the next two years. The licences, which include the Tourmaline Hills copper gold project, an area assigned as a high priority target by Ivanhoe, were acquired from a subsidiary of Temujin Mining Corporation (“Temujin”), a private Mongolian mid-stage copper-gold exploration and development company. Under the terms of the transaction, Temujin, which is ultimately owned by F&M, a leading Canadian merchant bank, will be issued with up to 35 million shares in Kincora, representing a maximum 12.6 per cent equity stake. To read the full article, click hereOrigo Partners PLC – Investee Company Update

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