{"id":3273,"date":"2023-12-15T02:06:15","date_gmt":"2023-12-15T02:06:15","guid":{"rendered":"https:\/\/economicherald.net\/?p=3273"},"modified":"2023-12-15T02:06:15","modified_gmt":"2023-12-15T02:06:15","slug":"rarex-completes-kincora-asset-divestment-in-exchange-for-a-board-seat-and-40m-cdis","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=3273","title":{"rendered":"RareX completes Kincora asset divestment in exchange for a board seat and 40m CDIs"},"content":{"rendered":"<p>Divestment of 35% interest in Kincora assets completed<br \/>\nRareX chair Jeremy Robinson joins KCC board as a non-exec director<br \/>\nCompany to retain exposure to the NSW copper assets as a major shareholder in KCC<\/p>\n<p>\u00a0<\/p>\n<p><strong><em>Special Report:<\/em><\/strong><strong> RareX has divested its 35% interest in the Trundle, Fairholme, Jemalong, Cundumbul and Condobolin exploration licences in NSW to its JV partner Kincora Copper, gaining a board seat and retaining exposure to the assets.\u00a0 <\/strong><\/p>\n<p>Kincora has eight projects covering 2,367km2 within NSW\u2019s world-class gold-copper mineral belts in a Tier-1 mining jurisdiction.<\/p>\n<p>Meanwhile, <a href=\"https:\/\/stockhead.com.au\/company\/rarex-ree\/\"><strong>RareX (ASX:REE)<\/strong><\/a> is focused on advancing its Cummins Range phosphate-rare earths project in WA \u2013 the largest undeveloped REE project in Australia.<\/p>\n<p>The company is planning a low-cost, Stage 1 pre-strip development that will deliver production of an initial 300,000tpa of direct shipping ore phosphate to de-risk the expected 550,000tpa of higher value phosphate-rare earth dual mineral concentrate produced under a Stage 2 beneficiation operation.<\/p>\n<p>RareX <a href=\"https:\/\/stockhead.com.au\/resources\/de-risk-it-for-the-biscuit-rarex-nabs-port-space-for-cummins-range-rare-earths-phosphate-product\/\"><strong>recently secured vital port space<\/strong><\/a> at Wyndham for production storage and transport to market, further de-risking the project.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Kincora exposure retained<\/strong><\/h2>\n<p>As part of the agreement, the company has been issued 40 million Kincora Chess Depositary Interests (CDIs) and a 1% Net Smelter Return Royalty (NSR) \u2013 making it one of <a href=\"https:\/\/stockhead.com.au\/company\/kincora-copper-kcc\/\"><strong>Kincora Copper\u2019s (ASX:KCC)<\/strong><\/a> shareholders with RareX chair Jeremy Robinson also joining the KCC board as a non-executive director.<\/p>\n<p>RareX CEO James Durrant says the strategic transaction provides KCC with the opportunity to secure asset-level JV partners to develop its copper-focused portfolio.<\/p>\n<p>\u201cIn return, RareX gains a significant shareholding in Kincora and continued involvement via a board seat,\u201d Durrant says.<\/p>\n<p>\u201cWe look forward to our continued involvement with Kincora as they progress the development of this exciting asset portfolio.\u201d<\/p>\n<p>Kincora is progressing discussions and negotiations with potential third-party asset level partners for its NSW porphyry portfolio, including project level funding and other corporate transaction structures.<\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span>\u00a0<\/p>\n<p><em>This article was developed in collaboration with RareX, a Stockhead advertiser at the time of publishing.<\/em><\/p>\n<p>\u00a0<\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/resources\/rarex-completes-kincora-asset-divestment-in-exchange-for-a-board-seat-and-40m-cdis\/\">RareX completes Kincora asset divestment in exchange for a board seat and 40m CDIs<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Divestment of 35% interest in Kincora assets completed RareX chair Jeremy Robinson joins KCC board as a non-exec director Company to retain exposure to the <a href=\"https:\/\/economicherald.net\/?p=3273\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":3274,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-3273","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - 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