KINCORA COPPER RATED 'SPECULATIVE' BUY BY LOCAL BROKER

Ulaanbaatar /MONTSAME/ Kincora Copper (CVE:KCC) has been rated a 'speculative buy' by local Mongolian broker Mongolian Investment Banking Group /MIBG/, which sees the explorer as a beneficiary of an improvement in the general conditions for mining in the country in 2014. The news was released Monday on proactiveinvestors.com website. "Kincora’s flagship project is Bronze Fox, which lies within the Oyu Tolgoi copper belt in southeast Mongolia and 140km from the Oyu Tolgoi mine. "It has attracted over US $6.5bn in capital expenditures and is expected to attract a further US $4.2bn over the next two years, said MIBG, while another huge potential porphyry-style project at Tsagaan Suvarga is just 40Km away. "Kincora’s exploration work in 2013 involved extensive geophysical work and should help the company de-risk the 2014 proposed drilling program, adds the broker. "Given that the 2012 drilling results suggest a potential porphyry style mineralization being intersected over a 40sq.km area, we expect the company to test the most prospective targets in 2014. "The broker said it has not set a target price for Kincora as the current stage of exploration is not indicative of a resource or a style of mineralization, but it does offer multiple catalysts in the changing environment in Mongolia. "Currently, the tenement sits at the target testing stage being one of the most advanced and prospective exploration projects in Mongolia. "Potential catalysts for the shares this year are a drilling programme hitting a porphyry style intersection of significant length at above 0.6% CuEq; regaining the Tourmaline Hill and North Fox licenses which were revoked in 2013; an Oyu Tolgoi Phase-2 restart proposal approved by the Government of Mongolia, Rio Tinto Group, and Turquoise Hill Resources and a lifting of the Moratorium banning the issuance of new exploration licences. "In order to realise potential upside for investors a drilling program is planned for 2014, which, if successful could lead to discovery that would then require extensive drilling. "In a review of qualified opinions from geologists familiar with the Bronze Fox tenement it does demonstrate the potential to be a porphyry style mineralized deposit."