|By Marketwired .||
|April 28, 2014 06:30 AM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/28/14 -- Kincora Copper Limited (the "Company", "Kincora") (TSX VENTURE:KCC) is pleased to announce that the Mongolian Ministry of Mining ("the Ministry") has proposed a win-win solution for all stakeholders to resolve disputes relating to the revocation of 106 mineral exploration licenses in late 2013.
The proposal, which follows constructive face to face discussions with the Ministry, is expected to be presented as a resolution to the Spring session of the Mongolian Parliament, which recently commenced. Kincora is one of 11 foreign investors and 66 local groups impacted by the decision to revoke 106 licenses following a criminal court case involving former Government officials.
Resolving the 106-license case has been a priority for the Ministry since the issue came under its jurisdiction and it has been working together with impacted investors to resolve the matter. A case by case investigate of the impacted licenses has been conducted and supported a resolution to be presented to Parliament that recognizes security of tenure and a proposed mechanism to compensate for the time lost due to original judicial process and returning the licenses back to compliant license holders. As such the proposed resolution is considered to be a win-win outcome for all stakeholders.
In its September 2013 quarterly accounts, Kincora wrote off C$6,952,000 relating to the 15075X (Tourmaline Hills) and 15076X (North Fox) licenses, which were revoked as part of the 106. Kincora's two licenses were acquired from a private Canadian group in 2012, following full due diligence, and are lower priority exploration licenses adjacent to our flagship Bronze Fox project. Bronze Fox remains unencumbered and Kincora is in advanced stages of mobilizing activities there ahead of further exploration activities in the upcoming field season. We are confident that Kincora is/was a compliant license holder and that our revoked licenses will be returned.
While the resolution still requires Parliamentary approval, it follows the approval of other recent positive legislative reforms such as the Investment Law, to promote private sector activity. The Ministry is also proposing a number of other resolutions to be heard in the Spring session of Parliament relating to the Long Name Law, revision of the tender regulation (which would see the three year moratorium for new exploration licenses lifted) and other amendments to the existing 2006 Minerals Law.
Commenting on today's announcement, Sam Spring, President and CEO of Kincora, said:
"This case has had a major, negative impact on investor sentiment towards Mongolia and the way in which the Government responds to investor concerns about the revocation of licenses, we hope, will set a positive and visible precedent as to how future investors will be treated. Although Kincora has recently successfully raised capital to explore our flagship and unencumbered Bronze Fox project, uncertainty relating to the 106-license issue has significantly impacted investment and asset valuations in Mongolia, not just amongst those directly impacted by the 106.
Kincora has been proactively working with the Ministry of Mining to achieve a win-win solution for all stakeholders and I very much believe the key concepts in the resolution put forward to the Mongolian Parliament would achieve that. The proposed resolution of the 106-license issue is probably the most transparent and tangible recent example of the Government of Mongolia, via the Ministry, working with investors to revive private sector activities, learn and move on from past mistakes acknowledging security of tenure. While Parliamentary approval is still required, a timely approval of the resolution, and its implementation, could support compliant former licenses holders undertaking field season activities this year.
Kincora is in the advanced stages of mobilizing field season activities at our Bronze Fox project, noting the extremely competitive environment for service providers."
To view the image associated with this release, visit the following link: http://media3.marketwire.com/docs/941905-F1.pdf.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
About Kincora Copper Limited:
In a world of ever-accelerating business cycles and fast-changing client expectations, the cloud increasingly serves as a growth engine and a path to new business models. Dynamic clouds enable businesses to continuously reinvent themselves, adapting their business processes, their service and software delivery and their operations to achieve speed-to-market and quick response to customer feedback. As the cloud evolves, the industry has multiple competing cloud technologies, offering on-premises ...
May. 25, 2015 06:00 PM EDT Reads: 3,912
The 5th International DevOps Summit, co-located with 17th International Cloud Expo – being held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the...
May. 25, 2015 05:30 PM EDT Reads: 3,907
The OpenStack cloud operating system includes Trove, a database abstraction layer. Rather than applications connecting directly to a specific type of database, they connect to Trove, which in turn connects to one or more specific databases. One target database is Postgres Plus Cloud Database, which includes its own RESTful API. Trove was originally developed around MySQL, whose interfaces are significantly less complicated than those of the Postgres cloud database. In his session at 16th Cloud...
May. 25, 2015 05:00 PM EDT Reads: 997
Over the years, a variety of methodologies have emerged in order to overcome the challenges related to project constraints. The successful use of each methodology seems highly context-dependent. However, communication seems to be the common denominator of the many challenges that project management methodologies intend to resolve. In this respect, Information and Communication Technologies (ICTs) can be viewed as powerful tools for managing projects. Few research papers have focused on the way...
May. 25, 2015 05:00 PM EDT Reads: 1,645
As the world moves from DevOps to NoOps, application deployment to the cloud ought to become a lot simpler. However, applications have been architected with a much tighter coupling than it needs to be which makes deployment in different environments and migration between them harder. The microservices architecture, which is the basis of many new age distributed systems such as OpenStack, Netflix and so on is at the heart of CloudFoundry – a complete developer-oriented Platform as a Service (PaaS...
May. 25, 2015 05:00 PM EDT Reads: 1,521
In high-production environments where release cycles are measured in hours or minutes — not days or weeks — there's little room for mistakes and no room for confusion. Everyone has to understand what's happening, in real time, and have the means to do whatever is necessary to keep applications up and running optimally. DevOps is a high-stakes world, but done well, it delivers the agility and performance to significantly impact business competitiveness.
May. 25, 2015 05:00 PM EDT Reads: 1,796
SAP is delivering break-through innovation combined with fantastic user experience powered by the market-leading in-memory technology, SAP HANA. In his General Session at 15th Cloud Expo, Thorsten Leiduck, VP ISVs & Digital Commerce, SAP, discussed how SAP and partners provide cloud and hybrid cloud solutions as well as real-time Big Data offerings that help companies of all sizes and industries run better. SAP launched an application challenge to award the most innovative SAP HANA and SAP HANA...
May. 25, 2015 04:00 PM EDT Reads: 2,983
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo in Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading in...
May. 25, 2015 04:00 PM EDT Reads: 2,413
The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete at launch. DevOps may be disruptive, but it is essential. The DevOps Summit at Cloud Expo – to be held June 3-5, 2015, at the Javits Center in New York City – will expand the DevOps community, enable a wide...
May. 25, 2015 03:00 PM EDT Reads: 1,757
P2P RTC will impact the landscape of communications, shifting from traditional telephony style communications models to OTT (Over-The-Top) cloud assisted & PaaS (Platform as a Service) communication services. The P2P shift will impact many areas of our lives, from mobile communication, human interactive web services, RTC and telephony infrastructure, user federation, security and privacy implications, business costs, and scalability. In his session at @ThingsExpo, Robin Raymond, Chief Architect...
May. 25, 2015 03:00 PM EDT Reads: 4,121
There is no question that the cloud is where businesses want to host data. Until recently hypervisor virtualization was the most widely used method in cloud computing. Recently virtual containers have been gaining in popularity, and for good reason. In the debate between virtual machines and containers, the latter have been seen as the new kid on the block – and like other emerging technology have had some initial shortcomings. However, the container space has evolved drastically since coming on...
May. 25, 2015 02:45 PM EDT Reads: 1,081
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at Internet of @ThingsExpo, James Kirkland, Chief Ar...
May. 25, 2015 02:00 PM EDT Reads: 4,675
The 17th International Cloud Expo has announced that its Call for Papers is open. 17th International Cloud Expo, to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, APM, APIs, Microservices, Security, Big Data, Internet of Things, DevOps and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding bu...
May. 25, 2015 02:00 PM EDT Reads: 4,121
Cloud Expo, Inc. has announced today that Andi Mann returns to DevOps Summit 2015 as Conference Chair. The 4th International DevOps Summit will take place on June 9-11, 2015, at the Javits Center in New York City. "DevOps is set to be one of the most profound disruptions to hit IT in decades," said Andi Mann. "It is a natural extension of cloud computing, and I have seen both firsthand and in independent research the fantastic results DevOps delivers. So I am excited to help the great team at ...
May. 25, 2015 02:00 PM EDT Reads: 1,485
All major researchers estimate there will be tens of billions devices - computers, smartphones, tablets, and sensors - connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades. With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo, June 9-11, 2015, at the Javits Center in New York City. Learn what is going on, contribute to the discussions, and ensure that your enter...
May. 25, 2015 01:15 PM EDT Reads: 1,787