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.
Kibush:
http://www.kibushcapital.com/
Contact:
CEO
+613 9846
4288
admin@kibushcapital.com