Latest news with #Kincora
Irish Times
3 days ago
- General
- Irish Times
Kincora: Britain's Shame by Chris Moore - Strong and unnerving, some accounts linger like a bad taste
Kincora: Britain's Shame Author : Chris Moore ISBN-13 : 9781785375545 Publisher : Merrion Press Guideline Price : €19.99 When Chris Moore started working as a journalist with the BBC in 1979, one of his first assignments was to report on sexual abuse of boys at the Kincora Boys' Home on the Newtownards Road in Belfast . That home was being run by three men, Joseph Mains, Raymond Semple and William McGrath, who were convicted of raping boys in their care. But from an early stage there were indications that the story was much wider than the predations of these three horrors. McGrath was the leader of an eccentric loyalist paramilitary group called Tara, which was interested in reviving Irish identity among Protestants with a view to uniting Ireland inside the UK . He was an evangelical preacher with a theology which endorsed his homosexual interests. Hadn't there been loving relationships between men in the Bible? Think Jesus and John. READ MORE McGrath's political connections raised suspicion that men in his wider circle were abusing children at Kincora too and, further, that the security services had an interest in suppressing the story and curtailing Moore's investigations. Moore is now in his 70s and an independent researcher and writer, free of some of the constraints he believes the BBC imposed on him. And remarkably, he has stayed with this story and travelled the world to meet the men whose lives were tarnished by McGrath and others. Much of Moore's approach is to extrapolate from evidence and in cases his extrapolations are strong and unnerving. There was interference from MI5. McGrath was an agent. MI5's interest was in exploring the connections between unionist politicians and loyalist paramilitaries. There are compelling witness accounts here of boys being taken from the home to servicemen with secret lives, most notably Lord Louis Mountbatten , identified retrospectively by boys as their abuser from his picture on television after he was blown up in his boat by the IRA at Mullaghmore in 1979. The book also reminds us of a time when McGrath's homosexuality was treated as criminal and sinful. The account of him being subjected on police orders to the discredited anal dilation test is one that, once read, lingers like a bad taste. But a word to his publisher: a book like this should have end notes and an index.
The Journal
16-05-2025
- The Journal
New claims Mountbatten sexually abused children from notorious Belfast boys' home
A NEW BOOK claims that boys were taken from a notorious Belfast children's home to Lord Louis Mountbatten's home in Co Sligo, where he then sexually abused them. 'Kincora: Britain's Shame' alleges that MI5 and the British political establishment have attempted to cover up his involvement in a paedophile ring which operated out of Kincora Boys' Hostel in East Belfast in the 1970s. The book was written by former BBC journalist Chris Moore, who has investigated Kincora for over 40 years. Kincora opened on Belfast's Upper Newtownards Road, close to Stormont's Parliament Buildings, in May 1958. It closed in October 1980 following the exposure of sexual abuse there. The building was demolished in 2022. According to the book, five people claim that they were sexually abused and raped by Mountbatten, who was a great-uncle to King Charles III. Moore spoke to three of them, who alleged that they were taken to Classiebawn Castle, Mountbatten's home in Mullaghmore, in the summer of 1977, and were raped by him. Two of the boys lived in Kincora at the time. One of the men said they were taken to Classiebawn by Joe Mains, a paedophile who was a warden at Kincora. Speaking to The Journal , Moore said that Mains was the leader of the paedophile ring. 'Joe Mains took naked photographs of the boys in Kincora, so that he could show these boys to his clients, and they could order whichever boy they wanted,' he said. 'That's new evidence that's come from one of the survivors of Mountbatten's sexual abuse.' The former Kincora Boys Home on Upper Newtownards Road in Belfast was demolished in 2022. Alamy Stock Photo Alamy Stock Photo Mains, along with two other senior staff at Kincora – Raymond Semple and William McGrath – were jailed in 1981 for abusing 11 boys there. McGrath was the housemaster at Kincora and a prominent member of the Orange Order. He was also involved with Tara, an armed Loyalist paramilitary organisation. In the book, Moore writes that police sources told him that McGrath was an agent informer for MI5 in the 1970s while employed at Kincora. MI5 'obstructed investigations' He said that George Caskey, an RUC detective who led inquiries into the boys' home in the 1980s, told him that MI5 'obstructed' his investigations and that to him, this represented 'criminal actions'. Nothing was done about it. They got away with it. Advertisement 'I have used secret documents that disclose exactly how MI5 frustrated the Tory government of Margaret Thatcher in the early 1980s,' Moore said. 'I've got emails and telex messages that they used at the time that show that MI5 did not want any of their officers to be questioned or to be summoned to a court.' He said MI5 persuaded the British government not to have a full judicial inquiry, which resulted in a 'watered down' inquiry 'under an English judge, as MI5 demanded'. Mountbatten was killed when the IRA detonated a bomb on his boat in Mullaghmore, Co Sligo in August 1979. His 14-year-old grandson Nicholas Knatchbull, and a local teenager who worked for him – Paul Maxwell – were also killed. Another member of his party – the Dowager Lady Brabourne – died the day after the attack. During a visit to Ireland in 2015, then-Prince Charles visited the site of the attack in Mullaghmore. The killing was later dramatised for The Crown, the Netflix series about the British royal family, in 2020. Arthur Smyth was 11 years old when he claims he was raped twice by Mountbatten in 1977. He told Moore that he had no idea who Mountbatten was until he saw on the news in 1979 that he had been killed. 'I went up to my bedroom. I started crying. I felt sick,' Smyth says in the book. 'That somebody in high stature like this could do such a thing, because we all think that a paedophile is a bloke that you don't know, that he's weird-looking or he doesn't look right, but he fooled everybody. 'He was a paedophile and people need to know him for what he was … not for what they're portraying him to be.' In 2022, Smyth waived his right to anonymity to make the allegation against Mountbatten and launched legal proceedings against a number of institutions. It came a month after the publication of a report by NI Police Ombudsman Marie Anderson, which found that complaints made about the failure of police to investigate allegations of sexual abuse in Kincora were 'legitimate and justified' . Moore writes in the book that two separate investigations into Kincora in 1975 were blocked by MI5 and the then Royal Ulster Constabulary (RUC). 'Those investigations should have been allowed to grow then… For five years after that, boys continued to be raped and sexually abused.' He also writes that secret government files on Kincora have been locked away, some until 2065 and others until 2085. He said that the British intelligence services 'need to reveal what they know'. 'What's in the files? What is it they're hiding? What do they want to hide? Did they know that boys were being sexually abused? Did they do nothing about it?'. Readers like you are keeping these stories free for everyone... A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation. Learn More Support The Journal
Irish Times
07-05-2025
- Business
- Irish Times
Boutique Killaloe Hotel & Spa guiding at €3.5m
Agent Savills is guiding a price of €3.5 million for the Killaloe Hotel & Spa in Killaloe, Co Clare. The property, in a prime position overlooking the river Shannon and Lough Derg, comprises a well-established and successful boutique hotel with 35 guest bedrooms and a full range of onsite amenities. Killaloe is a picturesque waterside town. Known for its boating and water activities, medieval churches and its historic association with the last high king of Ireland, Brian Boru, whose Kincora fortress overlooked the town some 1,000 years ago, Killaloe is easily accessible from Limerick, Shannon and Dublin. The new Shannon Bridge linking Killaloe and Ballina is due to open shortly and will remove previous traffic congestion from the area. An aerial view of the Killaloe Hotel & Spa in Killaloe, Co Clare Apart from its guest accommodation, the Killaloe Hotel & Spa also features a large bar and restaurant overlooking Kincora Harbour and the river Shannon; a popular wedding venue with a spacious function room; a new spa with six treatment rooms and suites, and extensive grounds with surface parking. The hotel offers the prospective purchaser the potential to add 20 guest bedrooms, subject to planning permission, according to the selling agent. Tom Barrett of Savills says: 'The Killaloe Hotel & Spa presents an exceptional opportunity to acquire a well-invested, trading hotel with a full suite of amenities. Its strategic location and established reputation make it a particularly attractive hotel investment opportunity.' READ MORE
Yahoo
14-04-2025
- Business
- Yahoo
Kincora Copper: Second Major Earn-In Secured with AngloGold Ashanti
Amended Agreement: Kincora Copper and AngloGold Ashanti sign a major amendment to their Earn-in and Joint Venture Agreement ("Agreement") for a second joint venture in the Northern Junee-Narromine Belt of the Macquarie Arc supporting total expenditures of up to $100 million Key Highlights: Multiple-phase, multiple-year agreement covering the Nyngan South, Nevertire South and Mulla projects Stage 1: AngloGold Ashanti may earn a 70% interest by spending $25 million Stage 2: Option to increase to 80% with additional funding and/or studies The Agreement for two separate joint ventures cover a continuous strike greater than a 100km's and five projects Kincora remains the operator, receiving a 10% management fee Accelerated Drilling Plans: Expansion to ongoing drilling at the Nyngan project and a new drilling program to commence at the Nevertire and Nevertire South projects Strong Funding Model: Over $110 million of potential asset level funding has been secured; further large-scale partnerships are under active negotiation Kincora remains on track to achieve its ambition for third-party management fees to support a self funding financing model Melbourne, Australia--(Newsfile Corp. - April 14, 2025) - Kincora Copper Limited (TSXV: KCC) (ASX: KCC) ("KCC", "Kincora" or the "Company") is pleased to announce the execution of a major amendment to its existing agreement with a wholly owned subsidiary of AngloGold Ashanti plc ("AngloGold Ashanti"). The Agreement opens the way for more extensive exploration in the Northern Junee-Narromine Belt ("NJNB") of the Macquarie Arc, Central West NSW, Australia. The NJNB is a globally significant exploration opportunity offering new district scale porphyry potential. First phase drilling at the Nyngan project is ongoing with activities initiated for initial drilling at the highly prospective Nevertire and Nevertire South projects, known for their geological similarities to major deposits like Cadia-Ridgeway. John Holliday, Technical Committee chair, and Peter Leaman, VP of Exploration, commented: "We are very pleased to broaden our partnership with AngloGold Ashanti. It comes as we continue to progress our ongoing exploration program at the Nyngan project, with a ground gravity survey and hole twelve of the scout drilling program recently completed. In the wake of this second earn-in our drilling plans have been materially expanded at Nevertire and Nevertire South, and now cover three projects. However, and more importantly, we are well positioned to systematically and aggressively advance a new district scale portfolio of five projects covering over 2350km2. The contiguous five projects cover a strike of greater than 100km, more than twice that of the emerging Vicuña district in the Central Andes, which is also an extension to a known world-class porphyry belt. The revised agreement is structured in a manner which supports Kincora shareholders being carried potentially to the equivalent stage of four pre-development recent discoveries in Vicuña that have a current valuation of over $10 billion. AngloGold Ashanti is a successful greenfield explorer and while we are only now ramping up our exploration activities with them, they have already invested over $14 million in the NJNB. We are both very excited about the targets being drilled across the first three Kincora projects in 2025. While Kincora has now unlocked over $110 million of potential partner funding we see ample scope to further significantly grow this figure. The Company is advancing discussions for further large-scale partner agreements and is on track to achieve its ambition for third party management fees to provide a self-funding financing exploration model." Figure 1: The Macquarie Arc is a proven Tier 1 terrane and Australia's foremost copper porphyry belt hosting a number of world-class minesThe Northern Junee-Narromine Belt (NJNB) is a largely untested extension of the Macquarie Arc situated under the post-mineral cover To view an enhanced version of this graphic, please visit: Project generator funding model Kincora's asset level partner model for its wholly owned large scale exploration stage porphyry projects, commonly referred to a project generator model in the North American markets, has now unlocked over $110 million of potential partner funding for eight earlier stage and/or non-core porphyry projects1. Existing partners include: AngloGold Ashanti (NYSE: AU) is the world's fourth largest gold miner by production and is partner for the NJNB project portfolio (including five projects across two joint venture arrangements) 1(a); Fleet Space Technologies Pty Ltd ("Fleet Space", private) is one of Australia's fastest growing companies and is widely recognised as Australia's leading space exploration company. Fleet Space recently raised $150m in a Series D financing. It is Kincora's partner for the Wongarbon project and recently completed its maiden integrated Ambient Noise Tomography and gravity geophysical survey at the Nyngan project 1(b,c); Earth AI Pty Ltd ("Earth AI", private), an Artificial Intelligence and Machine Learning explorer. Earth AI recently raised $20m in a Series B financing and is partner for the Cundumbul project 1(d); and, Orbminco Limited (formerly Woomera Mining) is a Mongolian focused explorer and is partner for the Bronze Fox project 1(e). Kincora is the current operator of the NJNB project portfolio with AngloGold Ashanti and receives a 10% management fee of expenditure. Discussions are ongoing for further agreements for the Company's remaining four (and generally significantly more advanced and/or proximal to existing world-class mines) porphyry projects in NSW, including Fairholme, Jemalong, Trundle and Nyngan West. The Company plans to retain its Condobolin project, which hosts the historical Condobolin high grade open cut gold and base metals mining field situated within trucking distance to the Mineral Hill mine (which has capacity for, and is seeking, third party ore) and within the southern section of the emerging Cobar Superbasin. The timeline and capital needs to significantly add value and advance the Condobolin project is materially less than the Company's porphyry projects. Kincora's ambition is to be the operator for exploration budgets of over $10 million per annum for the porphyry portfolio providing sufficient project management fees for the Company to be self funding (covering corporate costs and maintenance of remaining wholly owned projects) and have partnerships with a diversified portfolio of industry leading producers/explorers. Nyngan, Nevertire and Nevertire South Programs A major amendment to the original Earn-in and Joint Venture agreement with AngloGold Ashanti now includes the Nyngan South, Nevertire South and Mulla projects, which are adjacent to the Nyngan and Nevertire projects (the latter two included in the original May 2024 agreement) and streamlines exploration across a continuous strike that exceeds a 100km's. Initial scout drilling activities at the Nyngan project commenced late last year and are ongoing. To date, twelve holes in total have been complete in partnership with AngloGold Ashanti, and follows encouraging results for the first six holes completed in 4Q'20242. Looking ahead, a recently completed ground gravity survey covering over 400km2 has identified a number of new potential targets for drilling. Interpretations and discussions for potential follow up drilling are now underway with AngloGold Ashanti as the scout drilling program continues. Various coincident magnetic and new gravity anomalies have been identified at both the wider South West and Ace of Spades Targets. A Stage 2 follow up phase of step out drilling is proposed post completion of the scout drilling program. Under the amended agreement, planned exploration activities have been expanded to support a first phase drilling program at both the Nevertire and Nevertire South projects with unimpeded access across the consolidated ~8 x 12km Nevertire Magmatic Complex ("NMC"). Prior explorer drilling at the southern section of the NMC has returned anomalous copper-gold mineralisation, favourable fertility defined by green rock analysis, geochemical zonation and alteration suggestive of an outer porphyry system setting with age dates confirming a highly prospective Phase 4 Macquarie Arc intrusive complex (at approximately 220m depth down hole). Having secured three prior explorer drill holes at the NMC from the Cadia mine site, a review by Kincora's technical director John Holliday supports Newcrest prior interpretation that "drilling has identified lithologies, alteration and veining consistent with a setting similar to the Cadia-Ridgeway and Goonumbla porphyry Cu-Au deposits" 3. John is a foremost figure on Macquarie Arc porphyry systems having been a principal originator, discoverer and site manager for the Tier 1 Cadia gold-copper porphyry and the Marsden copper gold porphyry deposits. A priority for the upcoming drilling program is an initial follow up program to prior Newcrest hole ACDNY006 which returned a very encouraging intersection of anomalous copper mineralisation (from basement to end of hole), veining and magnetite alteration situated in a high volcanic-hosted level 3. Prior Newcrest drilling supports Kincora's view of the planned walk up drill targets within the Nevertire South project underpinning the most advanced and geologically prospective porphyry project within the NJNB district. A planned drilling program seeks to step out from hole ACDNY006 to discover or create a vectoring pattern to a possible deposit and also test open extensions to the NMC - see Figure 2. The drilling programs at the Nyngan, Nevertire and Nevertire South projects are expected to run into the third quarter of 2025, providing a steady stream of news flow and management fees to the Company. Key terms of the Earn-in and Joint Venture Agreement The key terms of the amended agreement with AngloGold Ashanti Australia Limited, a wholly owned subsidiary of AngloGold Ashanti plc, covering the Nyngan South (Exploration Licence 9708), Nevertire South (Exploration Licence 9710) and Mulla (Exploration License 9320) projects ("New Tenements"), are in addition to the arrangement in respect of the original May 2024 agreement for the Nyngan (Exploration Licence 8929) and Nevertire (Exploration Licence 8960) projects and, in summary, comprise: AngloGold may earn a 70% initial interest in the New Tenement by incurring $25 million in total expenditure on exploration in the initial earn-in period of up to seven years upon which a joint venture would be formed (Phase I). This includes a minimum expenditure of $2 million within the first two years (Minimum Obligation). AngloGold is permitted to withdraw from the Agreement after satisfying the Minimum Obligation or payment of any shortfall. AngloGold can then earn an additional 10% interest in the New Tenements (for a total interest of 80%) by completing a Pre-Feasibility Study (PFS) or by funding a further $25m of expenditure over an additional three years (Phase II). Kincora will initially operate and conduct all exploration activities as directed by an Exploration Management Committee that will comprise two members from each party, and be entitled to a 10% management fee. The amended agreement is otherwise on terms that are customary for similar agreements and includes the agreed principal terms of the proposed joint venture agreement that will apply if AngloGold earns an interest in the NJNB tenements. All expenditure timelines under the Agreement can be accelerated. The amendments to the existing agreement are conditional on Ministerial consent being obtained within six months. Refer to the May 28, 205 release "AngloGold Ashanti to earn-in to the NJNB Project" for details for the original Earn-in and Joint Venture Agreement for the Nyngan and Nevertire projects. About the NJNB Project Portfolio The Macquarie Arc is Australia's premier porphyry copper-gold province being a hotspot for recent corporate activity, with over $16 billion of M&A for producing assets and over $385m of exploration earn-in/joint ventures, and exploration success, including two greater than 10Moz gold equivalent discoveries/resource expansions 4. Despite regional magnetics effectively mapping the Macquarie Arc volcanic belts, due to the post mineral cover there has been very limited prior drilling of the extensions of both the Junee-Narromine and Molong volcanic belts relative to the southern more outcropping sections. These more mature southern exploration regions host over 160Moz gold equivalent inventory 5 and a number of world-class mines (Cadia, Cowal and Northparkes). Kincora's portfolio and the wider NJNB offers new district-scale discovery potential with spatial and temporal settings, coupled with magnetics, gravity and new Ambient Noise Tomography (ANT) surveys, supportive of large-scale targets analogous to porphyry deposits located in the southern section of the Arc. AngloGold Ashanti has secured Earn-in and Joint Venture Agreements with both Kincora and Inflection Resources (Inflection, market capitalisation C$33.7 million, >4x Kincora's 6) covering ~10,000km2 within the NJNB with over A$14 million investment to date 7. In the last month AngloGold Ashanti has moved to Phase II of its earn-in agreement with Inflection designating a total of four projects to continue earning into (including two projects adjacent to Kincora's Nyngan project) 8 - see Figure 2. The most recent notable example of a new globally significant emerging porphyry district is the Vicuña district, which is also an extension of a renowned world-class porphyry belt. Vicuña is an extension of the central Andean belts in Argentina on the border of Chile and situated at over 4000m altitude. Within this district NGEx Resources Inc in 2009 held three early-stage exploration projects and at the time had a market capitalisation of approximately C$40 million 9. These same projects are all still at a pre-development phase but have yielded in four large-scale discoveries currently valued at over $10 billion 10. Kincora was an early mover into the Northern Junee-Narromine Belt, securing a district scale portfolio of the interpreted most prospective and shallow to moderate covered part of the northwards extension of the Macquarie Arc under post mineral cover. This portfolio now covers a strike twice the length of the Vicuña district and included in earn-in and agreements with AngloGold Ashanti. The NJNB is virgin exploration territory and offers new district-scale discovery potential with spatial and temporal settings, coupled with regional magnetics and gravity, supportive of large-scale intrusive complexes and targets analogous to porphyry deposits located in the southern and more mature sections of the Macquarie Arc. Figure 2: First phase drilling activities at Kincora's Nyngan project are ongoing with activities initiated for initial drilling at the highly prospective Nevertire and Nevertire South projectsIn the last month, AngloGold Ashanti has moved to Phase II of its earn-in agreement with Inflection Resources (market capitalisation >C$33 million) designating a total of four projects to continue earning into (including two adjacent to Kincora's Nyngan and Nyngan South licenses) and formed a second earn-in and joint venture agreement with Kincora To view an enhanced version of this graphic, please visit: About AngloGold AngloGold Ashanti plc (NYSE: AU) (market capitalization ~US$21.6 billion) is the world's fourth largest gold miner by production with projects and exploration activities across nine countries on four continents. AngloGold pursues value-creating opportunities, where it can leverage their existing assets, shareholdings, skills and experience. AngloGold has a track record of successful exploration with its greenfields and brownfields exploration programmes seeking to support sustainability and growth of its business. AngloGold's greenfield exploration strategy aims to discover large, high-value Mineral Resources that will eventually lead to the development of new gold mines. For more information please visit AngloGold's website at About Kincora Kincora Copper is an active explorer and project generator focused on world-class copper-gold discoveries. Kincora's portfolio includes district scale landholdings and scale-able drill ready targets in both Australia and Mongolia's leading porphyry belts, the Macquarie Arc and Southern Gobi, respectively, and the historical Condobolin mining field in the southern section of the Cobar superbasin NSW. For more information please visit Kincora's website at This announcement has been authorised for release by the Board of Kincora Copper Limited (ARBN 645 457 763) For further information please contact: Sam Spring, President and Chief Executive Officer or +61431 329 345 Executive office 400 - 837 West Hastings Street Vancouver, BC V6C 3N6, Canada Tel: 1.604.283.1722 Fax: 1.888.241.5996 Subsidiary office Australia Vista Australia Level 4, 100 Albert RoadSouth Melbourne, Victoria 3205 References: (1) Over $110 million of potential partner funding for eight earlier stage and/or non-core projects includes: (a) In addition to the terms announced in this release, the original up to A$50m earn-in & JV agreement with AngloGold Ashanti for the Nyngan & Nevertire projects: refer May 28, 2024 release "AngloGold Ashanti to earn-in to the NJNB Project" (estimated budget to end of Dec 2024 >$1.5m, incl. 2707m drilling, Kincora currently the project manager receiving a 10% fee of expenditure). For more information on AngloGold Ashanti please visit their website at (b) Fleet Space Technologies (which in December 2024 raised $150m in a Series D financing) partnership under R&D Grant for geophysical surveys at Nyngan: refer Jul 25, 2024 release "ANT and Gravity Geophysical Surveys at the Nyngan Project" (est. budget $500k). For more information on Fleet Space please visit their website at (c) Fleet Space partnership for the Wongarbon project: refer Oct 16, 2024 release "Kincora announces Strategic Investment & Expanded Partnership with Fleet Space" (Fleet Space is to conduct ANT & gravity surveys with the right to fund >2000m of drilling for an earn-in/JV. Est. budget for ANT & gravity surveys $600k, follow up drilling >$0.5m) (d) Exploration Alliance partner Earth AI (which in January 2025 raised US$20m in a Series B financing) drilling commenced at the Cundumbul project: refer May 20, 2024 release "Artificial Intelligence Partner Drilling New Copper Targets at the Cundumbul Project" (Earth AI has the right to right to spend up to $4.5m at Cundumbul and earn an NSR upon a "qualifying interval". Estimated budget to date >$750k, incl. 5 completed holes for >2500m with a VTEM geophysical survey recently completed and analysis ongoing). (e) Woomera Mining (now Orbminco Ltd) agreement for Kincora's Mongolian assets: refer Aug 12, 2024 release "Kincora secures funded, successful and motivated partner for Mongolian assets" & Orbminco release Jan 14, 2025 "Drilling Results for Bronze Fox Copper-Gold Project", incl. drilling results & technical details/disclaimers (Orbminco has the right to spend US$4m for a 80% interest in the Mongolian subsidiaries with Kincora free carry also to FID or a cash payment + NSR acquisition right for 100% interest. Orbminco consideration shares to Kincora $450k. Estimated budget >C$960k to Dec 31, 2024 incl. 2516m of drilling (& ex-planned conversion of the western exploration to a mining license and 2025 field work/drilling). (2) Refer to Kincora's exploration update press release Feb 13, 2025, "Encouraging results expands Kincora Copper and AngloGold Ashanti's First Drilling Program" (3) Newcrest Mining annual reports (public access) for former license EL6337, available on DIGS via MinView ( (4) Ocean Blue Equities Oct 8, 2024 initiation research report on Waratah Minerals with the addition of Newmont's earn-in and joint venture agreements with Koonenberry Gold for the: (a) Junee porphyry project ($23.9m of expenditure to date, ex the Jan 2025 drilling with Koonenberry Gold carried until commercial production); and, (b) Fairholme porphyry project (Koonenberry carried until $15m of exploration expenditure, with $1.14m spent to date, ex the Jan 2025 drilling program). (5) MinEx Consulting report for Kincora. (6) Market capitalisation of Inflection Resources as at Apr 11, 2025 following Apr 1, 2025 issuance of shares to AngloGold Ashanti ( (7) Includes AngloGold Ashanti funded exploration with Kincora and Inflection as at Dec 31, 2024, including Phase 1 and Phase 2 expenditures with Inflection (refer to the Mar 3, 2025 "MD&A" for the quarter ended Dec 2024). (8) Refer to Inflection Resources' Mar 25, 2025 release "AngloGold Ashanti Designates Four Inflection Resources Projects for Phase II of Exploration Earn-in Agreement". (9) NGEx Minerals valuation 2009 when it owned the projects included in (3). Refer to NGEx's presentation July 2024 for further details. (10) ">$10 billion market value": includes values for Filo Corp & Josemaria based on the Jul 29, 2024 transaction values from Lundin Mining & BHP (see public market releases, "Lundin Mining and BHP to Acquire Filo and Form a 50/50 Joint Venture to Progress the Filo del Sol and Josemaria Projects") and Apr 11, 2025 market capitalisation of NGEx Minerals. Forward-Looking Statements Certain information regarding Kincora contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-Looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Kincora believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Kincora cautions that actual performance will be affected by a number of factors, most of which are beyond its control, and that future events and results may vary substantially from what Kincora currently foresees. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration results, continued availability of capital and financing and general economic, market or business conditions. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and is subject to change after that date. Kincora does not assume the obligation to revise or update these forward-looking statements, except as may be required under applicable securities laws. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) or the Australian Securities Exchange accepts responsibility for the adequacy or accuracy of this release. To view the source version of this press release, please visit Sign in to access your portfolio
