DLCR Announces Strategic Joint Venture
Vancouver, Canada
-- May 3, 2018 -- InvestorsHub
NewsWire
-- www.penniesgonewild.com -- a leading independent
micro-cap media portal with an extensive history of providing
unparalleled content for undervalued companies, reports on
Kibush
Capital
Corp (OTC
Pink: DLCR).
Highlights:
Joint Venture
Resource Projects
DLCR may not
be at these levels much longer.
See more news
on (OTC
Pink: DLCR) at https://www.otcmarkets.com/stock/DLCR/disclosure
Kibush
Capital Corp has
resource operations in Papua New Guinea. The resources are
primarily a Timber and Logging operation, and secondly the
subsidary
has
Licences
for Alluvial Gold
processing. Currently the company is focusing on Logging operations
and will pursue the Gold opportunities in the near future. A
subsidiary company of Kibush Capital Corporation known as
Aqua Mining has approval from the Department of Forestry Papua New
Guinea to undertake logging in the Kabuna and Rigo areas. The timber authority
(TA) allows control of 2,000 hectares in Kubuna, located in the Central
Provence District around 75 kilometres
N NE of Port
Moresby. Additionally, Aqua Mining has greater than 40,000 hectares
of primary forest under contract for commercialization with
landowners of such property over time (subject to TA approval).
Aqua Mining was also successful in securing a second TA for 2,000
hectares in Kwikila Station, located in
the Rigo District around 55
kilometres
E of Port
Moresby. Furthermore, Aqua Mining has negotiated with landowners to
commercialize the total area of 25,000 hectares over time with the
appropriate TA approval. For both of these respective sites, it is
expected that 12 cubic metres of timber should be recovered
per hectare and allowing for poor weather conditions, each site
should produce an average of 150 cubic metres per month.
Joint Venture
On January 22,
2018, the Company's subsidiary Aqua Mining (PNG) Ltd entered into a
joint venture with Zubene No 1 clan group,
Zubene
Two clan
group, Vasira clan group, and
Boura
Inari clan group.
The joint venture is seeking approval from the Department of
Forestry Papua New Guinea, on an application for a Timber Authority
(TA) on 790 hectares in Lowland Forest area, which is located in
upper Kwikila Station, Rigo District along Magi Highway
in Central Province, Papua New Guinea, approximately 40 kilometers
East from Port Moresby and 17 kilometers from the highway along an
unsealed road to Vasira Villages. The Timber
Authority approval for Lowland Forest area allows the Company to
commercialize up to 5,000 cubic meters of timber within 12 months
and is valid for an initial term of two years. The application has
been lodged for the next PNG Forest Authority meeting scheduled
April 2018 month end
Resource Projects:
Papua New Guinea Timber A subsidiary company
of Kibush Capital Corporation known as
Aqua Mining has successfully received approval from the Department
of Forestry Papua New Guinea to commence logging in the
Kabuna
and
Rigo
areas. The timber
authority (TA) allows control of 2,000 hectares in
Kubuna, located in
the Central Provence District
around 75 kilometres
N NE of Port
Moresby. Additionally, Aqua Mining has greater than 40,000 hectares
of primary forest under contract for commercialization with
landowners of such property over time (subject to TA
approval).
Aqua
Mining was also successful in securing a second TA for 2,000
hectares in Kwikila Station, located in
the Rigo District around 55
kilometres
E of Port
Moresby. Furthermore, Aqua Mining has negotiated with landowners to
commercialize the total area of 25,000 hectares over time with the
appropriate TA approval.
For both
of these respective sites, it is expected that 12 cubic
metres
of timber should
be recovered per hectare and allowing for poor weather conditions,
each site should produce an average of 300 cubic
metres
per
month.
Papua New Guinea Oil and Gas in May 16, 2017, Kibush Capital Corporation (the "Company") and entered into a joint venture
agreement with Purari Development Trust for the purposes of
commercializing the land
controlled by Purari which is targeted for oil and gas exploration. Kibush will represent Purari's commercial interest in the negotiate ofany commercialization of the land, including oil and gas exploration and production.
Kibush will also used best efforts to secure PNG governmental approval for
the projects it negotiates on behalf of Purari. In exchange, Kibush will receive 30% of the total
revenue generated for Purari based upon such commercialization
efforts.
The agreement is for a term of 3 years.
Papua New Guinea Gold
Aqua Mining
Aqua Mining is a wholly owned subsiderary
of
Kibush
Capital. Aqua
Mining is currently in the exploration stage. Aqua Mining was
created to undertake certain opportunities that exist within the
mining sector of the economy of Papua New Guinea. The Director Mr.
Vincent Appo, has extensive experience
and knowledge in this sector and has over the years assembled a
vast network of contacts and contractors that will assist the
company in their managerial and operational endeavors. From the
outset the company is negotiating over 2 mine sites for further
exploration.
Aqua Mining in
the past six months has negotiated and finalized with landowners in
the WAU area of PNG, Joint Ventures to conduct mineral exploration
activities. These Joint Venture Agreements will form the basis of
applications to the Mining Resource Authority in PNG for Mining
Licenses. In addition, Aqua Mining has been accepted as a developer
of AML 694-695.
On or about
April 8, 2015, the Company commenced exploration of the Alluvial
Mining Lease 694/695 via its Subsidiary Aqua Mining PNG Limited.
Mr. Vincent Appo, PNG Operations Manager, is
overseeing the construction of the required infrastructure which is
required for the Company's exploration activities. On or about April
16, 2015, the Company announced commencement of a
Jorc/43-101 report on the Mining
Lease 694/695 and pending Mining Lease 296/301 held by its
subsidiary, Aqua Mining PNG Limited. We are anxious to resume
exploration and processing, this is dependent on cash flows from
the Timber logging projects.
Other
News:
GFOX-
Investors/Traders are buying the stock base on filings that were
released yesterday.
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