Kibush Capital receives Government Timber Authority Approval.
May 15 2018 - 8:00AM
InvestorsHub NewsWire
Kibush Capital receives
Government Timber Authority Approval.
Melbourne, Australia --
May 15, 2018 -- InvestorsHub NewsWire -- 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.
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
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