MELBOURNE, Australia, Nov. 24, 2021 (GLOBE NEWSWIRE) -- Kibush Capital Corporation (OTC: DLCR) is pleased to announce that is has been approached by a gold mining land ownerin Wau to initiate negotiations on a joint venture to start mining immediately. The new joint venture would be significant as it would come with an already established and current gold mining license.
Additionally, the joint venture would allow the company to utilize the equipment more efficiently and start processing immediately. This would springboard the companies own process of sending in sampling for DLCR’s own mining application.
The company is currently scouting for Trommels to buy or rent in the area and will have management up at the gold site in the next 2 weeks to finalize negotiations.
Warren Sheppard, CEO of DLCR, had the following to say.
“We are familiar with the area at Wau and consider this opportunity to be ideal as we can start processing and trialling immediately. I am sure this is the first of many opportunities in the area as we have demonstrated in the past we have the technical and management expertise to commercialise these projects. Landlowners in both our Forestry and now Gold areas are identifying that we have the capacity to work their resources and that understanding goes a long way in overcoming the local issues we have endured in the past.”
The company will be issuing continuous updates on the status of the joint venture, and its own gold mining operations over the next few weeks. Additionally, the company will be providing shareholders with a complete update of the lumber division of the company, which is in the process of expanding its land deals.
About Kibush Capital Corporation:
Kibush Capital is a Resource company with Timber Operations in Papua New Guinea.
Safe Harbor Statement:
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties.
Kibush: http://www.kibushcapital.com/
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