DLCR :MELBOURNE, Australia, (May 15, 2018 7:00AM E
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Posted On: 06/03/2018 8:39:43 AM
DLCR :MELBOURNE, Australia, (May 15, 2018 7:00AM EST) - Kibush Capital Corporation (OTC: DLCR)
announced today that its subsidiary company Aqua Mining (PNG) Ltd has successfully received
approval from the Department of Forestry Papua New Guinea, on applications for the 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.
It also received approval for the Timber Authority (TA) on 223 hectares in Areme area, Kware
Village, 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 15
kilometers from the highway along an unsealed road to Kware Village. The Timber Authority
approval for Areme 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. These 2 new areas are virgin forrest in
an area close to the main highways connecting to Port Moresby and Laloki. We are currently
negotiating with the relevant landowners and access owners to have long term agreements in place so
that the company can plan and organise long term commercialisation of the areas. The company has
undertaken significant survey work in the 2 areas to determine the size of the resource and also to take
into account the accessibility to move the resource quickly and more cost effective to our processing
facility at Laloki. This is critical considering the equipment we have to deploy has specification
limitations given the geography of the terrain in the region. Aqua Mining has commenced the access
infrastructure with the required equipment moving to site on the week commencing May 14th 2018.
About Kibush Capital Corporation:
Kibush Capital is a Resource company with Timber Operations in Papua New Guinea.
announced today that its subsidiary company Aqua Mining (PNG) Ltd has successfully received
approval from the Department of Forestry Papua New Guinea, on applications for the 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.
It also received approval for the Timber Authority (TA) on 223 hectares in Areme area, Kware
Village, 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 15
kilometers from the highway along an unsealed road to Kware Village. The Timber Authority
approval for Areme 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. These 2 new areas are virgin forrest in
an area close to the main highways connecting to Port Moresby and Laloki. We are currently
negotiating with the relevant landowners and access owners to have long term agreements in place so
that the company can plan and organise long term commercialisation of the areas. The company has
undertaken significant survey work in the 2 areas to determine the size of the resource and also to take
into account the accessibility to move the resource quickly and more cost effective to our processing
facility at Laloki. This is critical considering the equipment we have to deploy has specification
limitations given the geography of the terrain in the region. Aqua Mining has commenced the access
infrastructure with the required equipment moving to site on the week commencing May 14th 2018.
About Kibush Capital Corporation:
Kibush Capital is a Resource company with Timber Operations in Papua New Guinea.
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