26th May 2016 09:05
LONDON (Alliance News) - Origo Partners PLC on Thursday took note after portfolio company Kincora Copper Ltd said it reached an agreement providing for the merger of two Kincora subsidiaries with Ibex Land Mongolia LLC and Ibex Mongolia LLC, two entities under the indirect control of High Power Exploration Inc.
"The combined group will benefit from increased scale through the creation of a portfolio of contiguous copper porphyry targets in a highly prospective region, access to one of the largest regional geophysical and surface geochemistry datasets as well as an enhanced, experienced team with complementary skill sets," Niklas Ponnert, a director at Origo, said in a statement.
"Recent developments in Mongolia have been positive and this transaction creates a stronger foundation upon which Kincora can continue to develop," said Ponnert.
Shares in Origo are currently suspended from trading on London's AIM.
By Samuel Agini; [email protected]; @samuelagini
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