DLCR is logging and exporting now_!$$$!_ahead of schedule
Jun 23, 2016
OTC Disclosure & News Service
Scottsdale, AZ -
MELBOURNE, Australia, (June 23, 2016 8:00AM EST) - Kibush Capital Corporation (OTC: DLCR) announced today that its subsidiary Aqua Mining (PNG) Ltd was granted registration as a Forest Industry Participant by the Papua New Guinea Forest Authority. This registration allows the subsidiary to now apply for a Papua New Guinea Forest Authority Harvesting authority over areas in order to commercialise forest and wood products including exports to overseas markets. As a result of this registration the company is now in a position to negotiate joint ventures with Landowners to commercialise their timber resources, we will now conclude a number of expressions of interest from landowners/groups that the company have been negotiating with over the past 6 months. These landowner groups own significant areas of natural, virgin forests that would allow for processing for time frames in excess of 5 years. Kibush Capital CEO Warren Sheppard stated this was part of the companies plan to comply with the relevant authorities and provide a platform to work with all parties Government, Environment, Landowners and Forest Authorities.
Aug 04, 2016
OTC Disclosure & News Service -
MELBOURNE, Australia, Aug. 04, 2016 (GLOBE NEWSWIRE) -- Kibush Capital Corporation (OTC
LCR) announced today that its subsidiary company Aqua Mining (PNG) Ltd has lodged an application with the Timber Authority (TA) of Papua New Guinea for 2,000 hectares in Kubuna, Central Province District, Papua New Guinea, 75 kilometers North North East from Port Moresby.
Including the 2,000 hectares included in the Kubuna TA application, Aqua Mining has more than 40,000 hectares of primary forest under contract for commercialization with the landowners of such property over time and subject to TA approval. With this initial TA application in Kubuna, we expect a resource recovery of 12 cubic meters per hectare, and a sale price of $750 USD per cubic meter, for a total of $18,000,000 USD in total revenue from this area. We expect logging operations on the Kubuna property to commence on or about September, 2016 and we expect that this TA will produce around 300 cubic meters per month, allowing for weather that may hinder operations during the wet seasons.
As previously announced, we also have a TA application pending for 2000 hectares in Kwikila Station, Rigo District, 55 kilometers East from Port Moresby (Rigo). The Rigo application was on the agenda for approval at the TA meeting scheduled for August 3, 2016, but that meeting was postponed until August 10, 2016. That delay allows for both the Rigo application and the Kubuna application to be heard on August 10, 2016. We expect that both the Kubuna and the Rigo applications will be approved at that time.
MELBOURNE, Australia, Oct. 13, 2016 (GLOBE NEWSWIRE) -- Kibush Capital Corporation (OTC LCR) (the “Company”) announced today that its subsidiary Aqua Mining finalized an agreement to purchase all of the shares in Paradise Gardens Developments Ltd. (“Paradise Gardens”) and has now completed the purchase of Paradise Gardens. The Company’s CEO, Warren Sheppard stated that Paradise Gardens assets, including tractors, logging equipment and timber processing equipment, will be utilized in the Company’s logging and processing at Rigo. The sworn value of the Paradise Garden assets on the balance sheet of Paradise Gardens as audited and prepared by International Accounting firm BDO was PGK 1,481,891 (USD$ 489,072), and after depreciation a holding value of PGK 876,088 (USD$ 289,137). In addition to the acquired assets, Paradise Gardens has significant carry forward income tax loss in Papua New Guinea as per the financial statements prepared by BDO (PGK 3,479,985 at 30% tax rate = PGK1,043,995 (USD $344,552). Whether the company renews and continues the Timber Authority permit at Brown River under the Paradise Gardens name is yet to be decided, however we have a number of opportunities from neighboring landowners to commercialise the logging within their respective land holdings. We will continue in the short-term using the processing area that is leased by Paradise Gardens at Kairuku Hiri District approximately 60 kilometers from Port Moresby, until we establish a new processing facility closer to Port Moresby. We are currently looking at areas around the Laloki region 30 minutes north east from Port Moresby. We anticipate the transition of our processing facility to the Laloki area will be completed during the quarter ended June 30, 2017.
DLCR~BY THE WAY~DLCR is logging and exporting now_!$$$!_ahead of schedule
https://mobile.twitter.com/kibushcapital
At Rigo first Export Order being processed, we expect at least one container (a container holds 45 cubic metres) to leave pre Christmas.
Jun 23, 2016
OTC Disclosure & News Service
Scottsdale, AZ -
MELBOURNE, Australia, (June 23, 2016 8:00AM EST) - Kibush Capital Corporation (OTC: DLCR) announced today that its subsidiary Aqua Mining (PNG) Ltd was granted registration as a Forest Industry Participant by the Papua New Guinea Forest Authority. This registration allows the subsidiary to now apply for a Papua New Guinea Forest Authority Harvesting authority over areas in order to commercialise forest and wood products including exports to overseas markets. As a result of this registration the company is now in a position to negotiate joint ventures with Landowners to commercialise their timber resources, we will now conclude a number of expressions of interest from landowners/groups that the company have been negotiating with over the past 6 months. These landowner groups own significant areas of natural, virgin forests that would allow for processing for time frames in excess of 5 years. Kibush Capital CEO Warren Sheppard stated this was part of the companies plan to comply with the relevant authorities and provide a platform to work with all parties Government, Environment, Landowners and Forest Authorities.
Aug 04, 2016
OTC Disclosure & News Service -
MELBOURNE, Australia, Aug. 04, 2016 (GLOBE NEWSWIRE) -- Kibush Capital Corporation (OTC
LCR) announced today that its subsidiary company Aqua Mining (PNG) Ltd has lodged an application with the Timber Authority (TA) of Papua New Guinea for 2,000 hectares in Kubuna, Central Province District, Papua New Guinea, 75 kilometers North North East from Port Moresby. Including the 2,000 hectares included in the Kubuna TA application, Aqua Mining has more than 40,000 hectares of primary forest under contract for commercialization with the landowners of such property over time and subject to TA approval. With this initial TA application in Kubuna, we expect a resource recovery of 12 cubic meters per hectare, and a sale price of $750 USD per cubic meter, for a total of $18,000,000 USD in total revenue from this area. We expect logging operations on the Kubuna property to commence on or about September, 2016 and we expect that this TA will produce around 300 cubic meters per month, allowing for weather that may hinder operations during the wet seasons.
As previously announced, we also have a TA application pending for 2000 hectares in Kwikila Station, Rigo District, 55 kilometers East from Port Moresby (Rigo). The Rigo application was on the agenda for approval at the TA meeting scheduled for August 3, 2016, but that meeting was postponed until August 10, 2016. That delay allows for both the Rigo application and the Kubuna application to be heard on August 10, 2016. We expect that both the Kubuna and the Rigo applications will be approved at that time.
MELBOURNE, Australia, Oct. 13, 2016 (GLOBE NEWSWIRE) -- Kibush Capital Corporation (OTC
LCR) (the “Company”) announced today that its subsidiary Aqua Mining finalized an agreement to purchase all of the shares in Paradise Gardens Developments Ltd. (“Paradise Gardens”) and has now completed the purchase of Paradise Gardens. The Company’s CEO, Warren Sheppard stated that Paradise Gardens assets, including tractors, logging equipment and timber processing equipment, will be utilized in the Company’s logging and processing at Rigo. The sworn value of the Paradise Garden assets on the balance sheet of Paradise Gardens as audited and prepared by International Accounting firm BDO was PGK 1,481,891 (USD$ 489,072), and after depreciation a holding value of PGK 876,088 (USD$ 289,137). In addition to the acquired assets, Paradise Gardens has significant carry forward income tax loss in Papua New Guinea as per the financial statements prepared by BDO (PGK 3,479,985 at 30% tax rate = PGK1,043,995 (USD $344,552). Whether the company renews and continues the Timber Authority permit at Brown River under the Paradise Gardens name is yet to be decided, however we have a number of opportunities from neighboring landowners to commercialise the logging within their respective land holdings. We will continue in the short-term using the processing area that is leased by Paradise Gardens at Kairuku Hiri District approximately 60 kilometers from Port Moresby, until we establish a new processing facility closer to Port Moresby. We are currently looking at areas around the Laloki region 30 minutes north east from Port Moresby. We anticipate the transition of our processing facility to the Laloki area will be completed during the quarter ended June 30, 2017. DLCR~BY THE WAY~DLCR is logging and exporting now_!$$$!_ahead of schedule
https://mobile.twitter.com/kibushcapital
At Rigo first Export Order being processed, we expect at least one container (a container holds 45 cubic metres) to leave pre Christmas.
