Lightning Minerals CEO on Kincora option deal

Lightning on the on the opposite side there benefits from a an immediate injection of $100,000 cash, which funds our current exploration programs quite well.

Lightning minerals and its wholly owned subsidiary, Lotus minerals, have entered into an option agreement with Kincora Copper. Here to discuss what that means for Lightning is CEO Troy Bryce. Troy, good to see you.

Thanks for having me, Jonathan.

It's always a pleasure. So, talk us through this option agreement with King Kora, the details and and how it feeds into into the strategy.

Yeah look, we're really pleased with how this has turned out. It's been ongoing in the background for some time now. but King Copper, the executive team been great to work with, very patient. we're aligned in our strategic objectives and it's one of those as it should be at any time, a win-win for both parties. King gets exclusive access on on this option to our Lochland for projectments and to exercise uh a drilling campaign straight away in

into that target zone that we've identified for some time now. Lightning on the on the opposite side there benefits from a an immediate injection of $100,000 cash which funds our current exploration programs quite well. There's no additional exercise or issue of shares by Lightning minerals at all. and it fits beautifully with our strategic plan with the gold and copper focus primarily on our flagship projects in North Queensland.

So this is a a 9-month option period. Um and it's particularly concentrated, I think at the Bory Creek South uh prospect there. Talk talk us through what the what work King Korra will will be doing there and what that means again for you.

King Korra have uh committed to funding a minimum of a 400m diamond drilling campaign on the drill targets identified. There's a lot of work technically has been put into this in the background over a period of time on this. King Korra got a greatly uh competent technical team to execute this, and we expect that to happen in the near term.

And uh I guess uh talking about the strategy as well, as you said, you're going to focus now on Mount Turner and and Warby as the as the main projects there. So what what does this now allow you to do?

It allows us to continue to expedite our project work on the flagship. So right now we've got a diamond drilling campaign at the back end of that program to establish our maiden MRE on the Drummer fault at Mount Turner. and concurrently we've got a small team finishing off the geocan sampling work at the Warby Tungsten project. So we'll finish this season with a total of nine exploration programs uh completed, which is a new record for Lightning.

It also allows us to have an upside potential in the Lochland for belt, which we see has great prospectivity potential in a well-established region with major producers in the immediate facility, exercised by Kingra who are have a great track record, a successful exploration company with a terrific complementing portfolio. They know how to execute and they know what to do. There's upside all round for both entities.

Yeah, so Troy, not long now until, well, Christmas really and then the end of the season. Um so you've touched on it there, but but can you just spell it out again, the milestones that we can look forward to in the next couple of months?

Yes, we'll certainly for lightning we'll be able to uh share with you the progress for the drilling campaign down at Lochland Fort under this great deal with Kingra. Also the results of our diamond drilling campaign at Mount Turner for our Maiden MRE and also the progression of ourby Tungsten project beyond the geochemical sampling to a Lida campaign and then we'll be drill targeting for execution in Q1 2027. So we're very, very close to a series of some milestones for the company.

Yeah, plenty to look forward to, Troy. Uh we'll speak again as as as results and things come through, but thanks for your time today and uh good luck with uh what's coming.

Thank you very much.