Kibush Capital Corporation Activity Update
MELBOURNE, Australia -- June 4, 2019 11:00AM EST -- InvestorsHub NewsWire -- Kibush Capital Corporation (OTC: DLCR) announced today that its Revenue for the Months April and May 2019 had exceeded the total 3 months of the prior Quarter ( $34K ), April Revenues were $21k and May $25K. For the month of June we are currently holding orders for $106K which weather permitting we will deliver during the months of June and July 2019. In addition we have received indicative Export orders for $35K which we can supply from stock already held, the Export Agent has inspected our operations and will run a 2 Container trial and if successful this will be on a monthly basis with an opportunity to increase the order to 5 containers per month. Our logging for the Month of June is anticipated to generate 240 cubic metres of product which will supplement existing stock levels of 220 cubic metres. Retail Value for a cubic metre ranges from $650 export to $1000 for domestic Sales.
During the month of May the company successfully renegotiated all but one of the Convertible Notes to Non-convertible notes as per the 8K release, this was important to eliminate the concern that there would be further dilution in the future, and cleaned the financials with the removal of derivative liabilities and expense in the Profit and Loss Reports.
The company is intending to raise funds from the Reg A to replace and improve the logging and processing equipment. These new items will assist in increasing productivity immediately, over both Logging and Processing. The company has spent the past 12 months securing and accessing logging areas that will yield long term supply, once we have the new equipment in place we can improve sales and stockpile logs for access during the rainy seasons in PNG.
The company is also in negotiations with Landowners in the Wewak region of Papua New Guinea, the landowners have 10,000 cubic metres of Kwila Logs, the opportunity would be to supply processing equipment and personal and then ship the cut stock to either Port Moresby or export direct from the Wewak port to China or India. The company will update when more information is to hand.
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.
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