Newsfile Corp
19 May 2026, 09:30 UTC · 2d ago
Source · https://www.newsfilecorp.com/release/297901/Kincora-Receives-Option-Payment-for-Divestment-of-Mongolian-Assets
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Kincora Copper has entered a term sheet to sell 100% of its Mongolian subsidiaries to Tumen Ail Coal LLC for a total consideration of US$10 million. — Direct cash infusion and divestment of assets provide immediate liquidity and potentially realize value from non-core assets.
+0.60Kincora has already received a non-refundable option payment of US$1.5 million from Tumen Ail Coal LLC. — The non-refundable nature of the payment reduces the risk of the transaction failing and provides guaranteed short-term capital.
+0.40A further payment of US$3.5 million is due by July 1, 2026, followed by a final US$5 million payment into escrow upon registration of shareholder changes. — Establishes a clear timeline for future cash inflows, though these are contingent on meeting specific closing milestones.
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The company received a non-refundable US$1.5-million payment and entered a term sheet for a potential US$10-million transaction.
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