The latest Standard Chartered GBA Business Confidence Index (GBAI) jointly published by Standard Chartered and the Hong Kong Trade Development Council (HKTDC) today indicated broad-based improvement in business sentiment in the region for the first quarter of 2025.
The GBAI “current performance” index for business activity rose to 53.5 in Q1 from 50.7 prior – the highest since Q2-2024. Six of the eight index components rose quarter-on-quarter, and all previous sub-50 underperformers rallied back above the neutral mark, namely “capacity utilisation” (+3.2pts), “raw material inventory” (+9.0pts), “financing scale” (+3.2pts) and “profits” (+3.1pts).
The GBAI “expectations” index for business activity improved in tandem with its “current performance” counterpart, to 54.3 in Q1 from 52.9 in Q4-2024. Encouragingly, seven of eight expectation sub-indices rose quarter-on-quarter, led by a 3.1 percentage point increase in “profits” and a 2.8 percentage point increase in “raw material inventory”.
All the city sub-indices, be it “current performance” or “expectations”, rose quarter-on-quarter, with Shenzhen being the only exception. Hong Kong extended its rising “current performance” streak to four straight quarters, to 53.5; its “expectations” index jumped to 56.9 – bested only by Guangzhou – from 50.8 prior. Guangzhou’s current and expectation prints stood at 60.3 and 58.0, respectively, the highest among cities.
This showed that GBA companies weathered the initial rounds of US tariff hikes (10%+10%) well, in part thanks to the DeepSeek breakthrough lifting market sentiment as well as the rising prospect of more policy stimulus from China’s policymakers. However, respondents’ more-upbeat outlook in February-March (when the Q1 survey was conducted) likely did not prepare them for recent events – US’ announcement of sweeping and sizeable reciprocal tariff hikes on China and most other countries.
Kelvin Lau, Senior Economist, Greater China and North Asia, Standard Chartered, said: “Given the urgency to stabilise market sentiment following the tariff-induced sell-off, the likelihood of China cutting the reserve requirement ratio and/or policy rate (7-day reverse repo rate) in April has materially increased. We expect that both monetary and fiscal policies on the Mainland will stay supportive. Meanwhile, Hong Kong would need to ramp up short-term support to SMEs and continue to diversify its trade to facilitate more non-US trade corridors. Our next survey, to be conducted in May-June, should provide a better view of the readiness of GBA businesses to live with high tariffs.”
More consumption boosts welcomed Looking ahead, 41% of respondents saw a positive impact from the consumption boosting initiatives announced by China in January. Meanwhile, 38% said the consumer goods trade-in programme would bring positive impact on their business. When asked what else the government could do to expand the consumption-supportive measures, the most popular suggestion was “relax market access for private sector and foreign investment to help boost services consumption”.
Wing Chu, Principal Economist (Greater China Research Team), HKTDC, said: “Boosting domestic demand is one of the government’s top priorities, as highlighted in the Government Work Report delivered by Chinese Premier Li Qiang in March. More than 50% of respondents have indicated that they are either already well positioned to tap into the mainland consumer market or are currently expanding or planning to expand their operations to do so. Additional supportive measures from the government could further bolster their businesses.”
About the GBAI The GBAI is the first forward-looking quarterly survey in the market that looks at the business sentiment and synergistic effects in cities and industries across the GBA. It is compiled based on a survey of more than 1,000 companies in the GBA covering the manufacturing and trading, retail and wholesale, financial services, professional services and innovation and technology sectors. The index enables investors and businesses to better understand the current business climate, gauge future performance prospects and formulate their market strategies for the GBA.
We are a leading international banking group, with a presence in 53 of the world’s most dynamic markets. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good.
Standard Chartered PLC is listed on the London and Hong Kong stock exchanges.
The history of Standard Chartered in Hong Kong dates back to 1859. It is currently one of the Hong Kong SAR’s three note-issuing banks. Standard Chartered incorporated its Hong Kong business on 1 July 2004, and now operates as a licensed bank in Hong Kong under the name of Standard Chartered Bank (Hong Kong) Limited, a wholly owned subsidiary of Standard Chartered PLC.
About HKTDC The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong’s trade. With over 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus.
HighTide Therapeutics Announces HTD1801 Meets the Primary Endpoints in Two Phase 3 Clinical Trials in Patients with Type 2 Diabetes Mellitus
HighTide Therapeutics, Inc. (HKG: 2511), a clinical-stage biopharmaceutical company specializing in the development of multifunctional, multi-targeted therapies for chronic liver and metabolic diseases, today announced that two Phase 3 trials (SYMPHONY 1 and SYMPHONY 2) of berberine ursodeoxycholate (HTD1801) in Chinese patients with type 2 diabetes mellitus (T2DM) met their primary endpoints and gated secondary endpoints.
The results of these two Phase 3 clinical trials provide robust evidence that HTD1801 delivers comprehensive benefits for patients with T2DM. Based on these highly positive read-outs, HighTide plans to submit a new drug application (NDA) for HTD1801 as a treatment for T2DM to the Center for Drug Evaluation (CDE) of China’s National Medical Products Administration (NMPA) later this year.
SYMPHONY 1 (NCT06350890) and SYMPHONY 2 (NCT06353347) are randomized, double-blind, placebo-controlled, Phase 3 clinical trials designed to evaluate the efficacy and safety of HTD1801 in adults with T2DM and inadequate glycemic control despite using diet and exercise (SYMPHONY 1; N=407) or Metformin (SYMPHONY 2; N=549). The primary endpoint in both studies was the change in HbA1c from baseline with HTD1801 compared to placebo after 24 weeks of treatment. Gated secondary endpoints included the percentage of subjects achieving HbA1c <7.0%, change in fasting plasma glucose (FPG), low-density lipoprotein cholesterol (LDL-C), glutamyl transpeptidase (GGT), and high-sensitivity C-reactive protein (hs-CRP).
The primary endpoint was achieved in both trials, showing a clinically meaningful, consistent glucose-lowering effect of HTD1801 SYMPHONY 1 (HTD1801 as monotherapy): At week 24, the reduction from baseline in HbA1c with HTD1801 (-1.3%) was superior to placebo. Further, those with more severe disease had a greater decrease with HTD1801: reduction in HbA1c was -1.5% for those with a baseline HbA1c ≥8.5%.
SYMPHONY 2 (HTD1801 as an add-on therapy to Metformin): At week 24, the reduction from baseline in HbA1c with HTD1801 (-1.2%) was superior to placebo. Further, those with more severe disease had a more significant decrease with HTD1801: reduction in HbA1c was -1.6% for those with a baseline HbA1c ≥8.5%.
In both Phase 3 trials, the efficacy on HbA1c reduction in patients treated with HTD1801 was sustained through week 24.
In both trials, gated secondary endpoints were achieved, suggesting multiple advantages of HTD1801 beyond glucose-lowering including improvement in cardiometabolic risk indicators At week 24, in both studies, the proportion of patients who achieved HbA1c <7.0% was significantly higher in the HTD1801 treatment groups compared to placebo. Improvements in HbA1c with HTD1801 were parallelled with significant improvements in postprandial and fasting plasma glucose compared with placebo. In addition, HTD1801 demonstrated lipid-lowering effects, including significant reductions in low-density lipoprotein cholesterol (LDL-C) and non-high-density lipoprotein cholesterol (non-HDL-C). Moreover, HTD1801 treatment led to reductions in key inflammatory biomarkers – glutamyl transpeptidase (GGT) and high-sensitivity C-reactive protein (hs-CRP) – both of which are associated with cardiovascular risk in patients with T2DM.
Favorable safety and tolerability profile Overall, safety and tolerability were favorable and consistent with previous clinical trials of HTD1801. The most commonly reported adverse events were gastrointestinal. In both studies <2% of patients discontinued early due to an adverse event. The incidence of hypoglycemia was low, with no severe hypoglycemia events reported.
“The encouraging results from these studies suggest that HTD1801 may offer a novel and improved therapeutic option for patients with T2DM,” said Dr. Linong Ji, the leading principal investigator for the two Phase 3 clinical trials and former Vice President of the International Diabetes Federation (IDF), Director of the Peking University Diabetes Center and Director of the Department of Endocrinology and Metabolism, Peking University People’s Hospital. “As an innovative drug candidate, HTD1801 exhibits a unique dual mechanism of action – AMP kinase activation and NLRP3 inflammasome inhibition – that is distinct from any existing T2DM drugs on the market. It is an oral therapy designed to deliver comprehensive clinical benefits – not only lowering blood glucose but also improving lipid metabolism and exerting anti-inflammatory effects – thereby potentially reducing diabetes-related complications and addressing significant unmet clinical needs. With continued clinical exploration, HTD1801 is expected to further expand its application to benefit patients globally. In today’s pharmaceutical landscape, investment has become heavily concentrated on GLP-1-based drug development. While GLP-1 therapies hold significant clinical value, they do not adequately address the full spectrum of pathophysiological mechanisms underlying T2DM. To truly meet the multifaceted needs of T2DM management, continued innovation across a diverse range of therapeutic targets remains essential.”
“We extend our deepest gratitude to the patients who participated in these pivotal trials,” said Dr. Liping Liu, HighTide’s founder and CEO. “HTD1801’s innovative dual-action approach – targeting both metabolic regulation and inhibiting inflammation – represents a potential breakthrough in diabetes treatment. We look forward to sharing data from the 28-week open-label extension of these studies and a Phase 3 head-to-head comparison with the dapagliflozin; we will continue to explore the clinical potential of HTD1801 to provide patients with chronic metabolic diseases a comprehensive treatment solution.”
About Type 2 Diabetes Mellitus (T2DM) According to the International Diabetes Federation (IDF), 537 million adults (ages 20-79) were living with diabetes in 2021, and this number is projected to grow to 783 million (representing 1 in 8 adults) by 2045, of these, around 90% are T2DM cases. China has the largest population of diabetes patients worldwide, estimated to be 141 million in 2021, and projected to grow to 174 million in 2045. Diabetes is a global societal burden leading to over 6 million deaths per year. To address this urgent challenge, there is a critical need for innovative therapies that can deliver comprehensive clinical benefits for patients worldwide.
About Berberine Ursodeoxycholate (HTD1801) Berberine ursodeoxycholate (HTD1801) is an orally delivered, gut-liver anti-inflammatory metabolic modulator being developed for the treatment of metabolic and digestive diseases. HTD1801, an ionic salt of berberine and ursodeoxycholate, is a new molecular entity with a unique dual mechanism of action: AMP kinase activation and NLRP3 inflammasome inhibition. These two key mechanistic pathways have been associated with improvements in insulin resistance, glucose metabolism, lipid metabolism, and hepatic inflammation, potentially providing a comprehensive treatment platform for the multifaceted nature of complex metabolic diseases.
HTD1801 is being developed for multiple indications. In addition to T2DM, its efficacy in treating metabolic dysfunction-associated steatohepatitis (MASH) has been demonstrated in a Phase 2a clinical trial and a global multicenter Phase 2b trial assessing the histologic benefit of HTD1801 is currently ongoing, with topline results expected in 2025.
About HighTide Therapeutics HighTide Therapeutics, Inc. (HKG: 2511) is a globally integrated biopharmaceutical company focusing on the discovery and development of first-in-class multifunctional, multi-targeted therapies with poly-indication potential across chronic liver and metabolic diseases with significant unmet medical needs. HighTide is currently developing several clinical assets and associated global intellectual property rights, and advancing multiple mid-to-late-stage clinical trials including therapies for metabolic dysfunction-associated steatohepatitis (MASH), type 2 diabetes mellitus (T2DM), severe hypertriglyceridemia (SHTG) and primary sclerosing cholangitis (PSC). Berberine ursodeoxycholate (HTD1801), HighTide’s lead drug candidate, received Fast Track designation from the United States Food and Drug Administration for both MASH and PSC and Orphan Drug designation for PSC. HTD1801 has been included in the National Major New Drug Innovation Program under the 13th Five-Year Plan for Major Technology Project in China.
HODL 2025, set for 14-15 May 2025 at the Madinat Jumeirah in Dubai, follows the Dubai FinTech Summit and marks a new chapter for Trescon’s flagship event. Formerly known as the World Blockchain Summit, the event has been at the forefront of blockchain innovation for nearly a decade. As the world’s longest-running crypto and Web3 summit series, HODL 2025 will bring together over 5,000 industry leaders, innovators, and investors to explore the technologies and trends that will define the next decade.
Join the discussion on the groundbreaking shifts reshaping Web3, crypto, and DeFi.
Institutional adoption is accelerating as TradFi ramps up its crypto play, while evolving regulations set the stage for the next compliance era. DeFi 2.0 is breaking boundaries with real-world integrations, and AI-powered blockchain innovations are pushing scalability to new heights alongside next-gen cross-chain interoperability.
From RWA tokenization unlocking trillions in liquidity to Web3 gaming emerging as the next digital frontier, and modular blockchain architectures revolutionizing infrastructure—this is where the future of the industry unfolds. Expect hot takes on market trends, the rise of Layer-2 solutions, and blockchain’s expanding role in enterprise innovation
HODL 2025 is where the industry’s brightest minds come together to collaborate and explore the real-world impact of blockchain and Web3 technologies.
What to Expect at HODL 2025:
Investor & Collaboration Access: Connect with over 500 investors looking to fund blockchain projects and seize opportunities for collaboration with industry leaders and innovators. HODL 2025 is the place to secure funding and form strategic partnerships.
Brand Exposure & Strategic Insights: With 60+ media and listing partners, your brand will gain global visibility. At the same time, discover how emerging blockchain technologies are transforming industries and learn how to leverage them for growth.
Powerhouse Speakers & Networking: Hear from leading experts in blockchain, AI, DeFi, and Web3. Plus, meet entrepreneurs, regulators, and investors from around the world, expanding your network and gaining valuable insights.
Collaborative Discussions: Engage in focused discussions on governance, tokenization, and interoperability, gaining practical insights to solve real-world challenges in the blockchain space.
There was a time when brands set up individual meetings to pitch their ideas. But at HODL 2025, you’ll be under one roof with not just your target prospects, but thousands of potential collaborators. This is where you can pitch your ideas, collaborate in real-time, and expand your network to include key players from across the blockchain ecosystem.
The lead generation process has evolved. Events like HODL bring together both the solution and the user in one space. This creates an ideal environment for forging meaningful connections, driving innovation, and building strategic partnerships that will shape the future of blockchain.
As we look forward to the discussions at HODL 2025, Nils Andersen-Röed, Global Head of FIU at Binance, said, “Excited to share insights on blockchain and connect with leaders driving GameFi, NFTs, and Web3 advancements at HODL 2025.”
Billal Yamak, Head of Growth GCC, The Sandbox, added, “HODL 2025 is where the future of Web3 and crypto innovation takes shape. I am thrilled to collaborate with pioneers shaping this exciting digital revolution”
Alongside Nils Andersen-Röed, the summit will feature a distinguished lineup of speakers, including:
Corbin Fraser, CEO, Bitcoin.Com
Robert Crossley, Global Head of Industry and Digital Advisory Services, Franklin Templeton
Gracy Chen, CEO, Bitget
Viktor Fischer, Managing Partner, RockawayX
Talal Tabbaa, CEO, CoinMena
Luther Maday, Global Head of Payments, Algorand Foundation
Dyma Budorin, Co-Founder & CEO, Hacken
With its deep focus on blockchain adoption, AI integration, DeFi, NFTs, and institutional investments in Web3, HODL continues to be the premier networking destination for industry stakeholders.
Official Digital PR Distribution Partner – ZEX PR WIRE
About HODL
HODL, born from the legacy of the iconic World Blockchain Summit (WBS) and organised by Trescon, is the World’s Longest-Running Crypto and Web3 Summit Series with 29 global editions across cities like Dubai, Singapore, and Bangkok. Since 2017, HODL has served as a platform for blockchain deal-making, innovation, and connecting disruptive projects with investors, enterprises, and governments.
Join HODL Dubai on 14-15 May 2025, to engage with industry leaders, explore cutting-edge blockchain developments, and secure your place at the forefront of Web3 innovation.
Euro Manganese Inc. (TSXV: EMN) (ASX: EMN) (FSE: E060) (the “Company” or “Euro Manganese“) is pleased to announce that Mr. Rick Anthon has been appointed Chairman of the Board of Directors (the “Board“) as of April 11, 2025 (Vancouver). In addition, the Company is providing an update on the Company’s previously announced upsized C$11.2 million (A$12.3 million) brokered unit private placement financing (the “Financing“).
Appointment of New Chairman
Mr. Anthon was originally expected to join the Board upon the closing of the Financing, which is now anticipated to close on or about May 22, 2025, subject to shareholder approval. However, his appointment has been brought forward following unanimous approval by the other directors. The Company’s current Chairman, Mr. John Webster, is stepping down as Chairman but will remain on the Board and as Chair of the Audit Committee.
Mr. Anthon’s appointment comes at a pivotal time for Euro Manganese as it advances the development of its Chvaletice Manganese Project. His addition to the Board brings decades of battery metals experience and reflects the Company’s continued focus on building a strong leadership platform to support its role as a key contributor to Europe’s battery materials supply chain.
Martina Blahova, Interim CEO of Euro Manganese, commented, “Rick’s early appointment reflects the confidence we’ve built with key stakeholders and our focus on execution. His depth of experience in the resource sector and proven leadership will be invaluable as we continue to scale the Chvaletice Project and deliver on our strategic priorities. On behalf of the Board, we would like to express our gratitude to John for his outstanding contribution to Euro Manganese during his tenure as Chairman, and his exceptional stewardship during these recent transformative years. We look forward to continuing to receive his guidance and support as a director and as Chair of the Audit Committee.”
Rick Anthon, Euro Manganese’s new Chairman said, “I am honoured to step into the role of Chairman at this important stage for Euro Manganese. The Company is exceptionally well-positioned to play a critical role in Europe’s battery materials supply chain, and I look forward to working closely with the Board and management team to help drive the Chvaletice Project forward and create long-term value for all stakeholders. As I take on this new responsibility, I want to express my sincere appreciation to John for his exceptional leadership and unwavering dedication to Euro Manganese. His strategic vision and steady guidance have been instrumental in positioning the Company for the next stage of growth.”
During his tenure as Director of Corporate Development at Allkem Limited, Mr. Anthon led the company’s corporate development activities while it evolved from a junior explorer to a major industry player, navigating a successful IPO and playing a key role in Allkem’s A$16 billion merger with Livent to create Arcadium Lithium, now one of the world’s largest lithium producers and a NYSE-listed company that is being acquired by Rio Tinto. He currently serves as Chairman of the Board at Savannah Resources, a European-focused lithium producer, as well as Chairman of Greenwing Resources Limited, which has lithium brine operations in Argentina and a graphite project in Madagascar. Mr. Anthon is also Chairman of Rapid Lithium Limited, which is focused on lithium exploration in South Dakota, and Non-Executive Director at Savannah Goldfields Limited.
John Webster, Euro Manganese’s outgoing Chairman said, “Serving as Euro Manganese’s Chairman has been an honour. We have an extremely capable and enthusiastic management team, and with Rick joining as Chairman I am confident that this team will continue to execute on this next chapter of the Company’s strategic vision and plans. I look forward to continuing to work with management and my fellow Board members to develop the Chvaletice Manganese Project and enhance value for all shareholders.”
Financing Update
TSX-V Conditional Approval
The Company also announces that the Financing has received conditional approval from the TSX Venture Exchange (“TSX-V“). The TSX-V’s final acceptance of the Financing is conditional upon the Company satisfying the filing requirements set forth in the conditional approval letter.
Completion of the Financing is also conditional upon receipt of the necessary shareholder approvals to be obtained at the Company’s upcoming Annual General and Special Meeting of shareholders (the “Meeting”) to be held virtually on May 15, 2025. The Company will mail Meeting materials to shareholders in due course and encourages all shareholders to vote in advance of the Meeting by returning their proxy or voting instruction form.
Share Purchase Plan (“SPP”)
The Company also confirms a revised launch date of the SPP for later in April (see below), details of which were initially announced on March 6, 2025, and initially updated on April 1, 2025, for aggregate gross proceeds of A$1.5 million (approximately C$1.4 million). On April 1, 2025, Orion OMRF (BK) LLC (“Orion“) agreed that if there is a shortfall between the maximum amount of the SPP and the total number of securities taken up under the SPP, Orion will subscribe for the securities up to a maximum of A$1.5 million on the same terms as the SPP, subject to regulatory requirements, any required regulatory and shareholder approvals and completion of the Financing and SPP.
Updated Indicative Financing Timetable
The indicative timetable for the SPP has been revised as set out below:
Vancouver
Australia
SPP Record Date
n/a
Wednesday, March 5, 2025
Lodgement of Prospectus with ASIC
n/a
Wednesday, April 23, 2025
Share Purchase Plan Opens
n/a
Monday, April 28, 2025
Share Purchase Plan Closes
n/a
Friday, May 9, 2025
Meeting to approve the Financing, SPP and related matters
Thursday, May 15, 2025
Friday, May 16, 2025
Settlement of New Securities Issued under the Financing and SPP
Wednesday, May 21, 2025
Thursday, May 22, 2025
Allotment of New Securities issued under the Financing and SPP
Thursday, May 22, 2025
Friday, May 23, 2025
About Euro Manganese
Euro Manganese is a battery materials company focused on becoming a leading producer of high-purity manganese for the electric vehicle industry. The Company is advancing development of the Chvaletice Manganese Project in the Czech Republic and an early-stage opportunity to produce battery-grade manganese products in Bécancour, Québec.
The Chvaletice Project is a unique waste-to-value recycling and remediation opportunity involving reprocessing old tailings from a decommissioned mine. It is also the only sizable resource of manganese in the European Union, strategically positioning the Company to provide battery supply chains with critical raw materials to support the global shift to a circular, low-carbon economy.
Euro Manganese is dual listed on the TSX-V and the ASX.
Authorized for release by the Interim CEO of Euro Manganese Inc.
Neither TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) or the ASX accepts responsibility for the adequacy or accuracy of this release.
Enquiries
Martina Blahova Interim Chief Executive Officer +1 (604) 681-1010 martina@mn25.ca
Certain statements in this news release constitute “forward-looking statements” or “forward-looking information” within the meaning of applicable securities laws. Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance, or achievements of the Company, its Chvaletice Project, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as “may”, “would”, “could”, “will”, “intend”, “expect”, “believe”, “plan”, “anticipate”, “estimate”, “scheduled”, “forecast”, “predict” and other similar terminology, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.
Readers are cautioned not to place undue reliance on forward-looking information or statements. Forward-Looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company.
Such forward-looking information or statements also include, but are not limited to, statements regarding the Company’s intentions regarding the development of the Chvaletice Project, the ability of the Company to scale the Chvaletice Project and deliver on strategic priorities and create long-term value for all stakeholders, statements regarding the terms of the Financing, including completion thereof, the anticipated closing date of the Financing, receipt of the final regulatory and shareholder approvals for the Financing and the SPP, the holding of the Meeting, the terms of the SPP, including completion thereof, and issuance of the SPP Prospectus.
All forward-looking statements are made based on the Company’s current beliefs including various assumptions made by the Company including that the Chvaletice Project will be developed and operate in accordance with current plans, that the Company will be able to raise the financing that it requires, and that it will meet conditions of its secured credit facility. Factors that could cause actual results or events to differ materially from current expectations include, among other things: risks and uncertainties related to maintaining necessary licenses or permits; risks related to acquisition of surface rights; securing sufficient offtake agreements; the availability of acceptable financing, and risks related to granting security; the potential for unknown or unexpected events to cause contractual conditions to not be satisfied; developments in EV (Electric Vehicles) battery markets and chemistries; and risks related to fluctuations in currency exchange rates, changes in laws or regulations; and regulation by various governmental agencies. For a further discussion of risks relevant to the Company, see “Risk Factors” in the Company’s annual information form for the year ended September 30, 2024, available on the Company’s SEDAR+ profile at www.sedarplus.ca.
Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release.
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analytica Vietnam 2025, the leading international trade fair for laboratory technology, biotechnology, analysis, and diagnostics, successfully concluded its 9th edition, held from 2–4 April 2025 at the Saigon Exhibition and Convention Center (SECC). Organised by MMI Asia Pte Ltd, a wholly owned subsidiary and regional headquarters of Messe München GmbH (MMG), in collaboration with Vietnam Exhibition and Event Services Co., Ltd (VNEES), and supported by the Ministry of Science and Technology of Vietnam, the event surpassed all previous records in attendance and international participation. This milestone reinforces analytica Vietnam’s reputation as Southeast Asia’s premier platform for scientific innovation, cross-border collaboration, and advanced laboratory solutions.
The exhibition welcomed 6,657 visitors, including 5,908 unique attendees from 37 countries, reflecting a 23% increase in unique visitors compared to the 2023 edition. This growth highlights the region’s increasing demand for cutting-edge laboratory technologies and the growing prominence of the event on the international stage.
Impressive Growth and Strong International Participation
analytica Vietnam 2025 experienced exceptional expansion, with a 52% increase in exhibitors. The exhibition hosted over 300 companies and brands across a 7,000 sqm exhibition space, a 56% increase in space compared to 2023. A notable 71% of exhibitors were international, underscoring the event’s rising international appeal and establishing it as a key meeting point for global industry leaders.
Prakash Mishra, Head of Vietnam SLS Commercial at Merck Vietnam, remarked, “The quality of visitors this year has been very good—we’ve met professionals from across Asia, Europe, and even the US who are genuinely interested in understanding and entering the Vietnam market. For us, this has been an excellent opportunity to connect with both local and international partners. It’s encouraging to see Vietnam gaining more visibility on the global stage, and analytica Vietnam has played a key role in that. Overall, it’s been a strong start to the year, and we’re leaving the show with meaningful leads and a very positive outlook.”
Key Show Features and Highlights
Academic Conference
The concurrent academic conference attracted 770 participants, a notable increase from the 582 attendees in 2023. The conference provided a comprehensive program featuring industry experts and thought leaders, addressing key research trends, technological advancements, and challenges faced by the laboratory and biotechnology sectors.
Southeast Asia’s First Live Lab Premiere
A key highlight of analytica Vietnam 2025 was the debut of Southeast Asia’s first Live Lab, attracting over 770 participants. This immersive experience offered live demonstrations in a real laboratory environment, allowing attendees to interact with experts and explore the latest technologies in action. It provided valuable, hands-on insights into the practical applications of modern lab workflows.
Hosted Buyer Program:
analytica Vietnam 2025 welcomed 544 Hosted Buyers from Vietnam and neighboring countries including Laos, Cambodia, Thailand, and Malaysia. With over 700 pre-arranged meetings, the program fostered meaningful business engagement, paving the way for strategic partnerships and regional growth across the laboratory and analytical sectors.
Startup Pavilion
The Startup Pavilion showcased emerging companies in the laboratory sector, spotlighting innovations and new technologies that are poised to shape the future of the industry. This section of the exhibition offered a platform for fresh ideas and groundbreaking solutions that are advancing laboratory technology.
Lab Design and Construction Forum
The Lab Design and Construction Forum delved into the future of sustainable and efficient laboratory infrastructure. The forum featured insights from industry leaders and experts on how modern design principles are transforming laboratory facilities to meet the growing demands of science, research, and industry.
Innovation Zone
The Innovation Zone was a dedicated space showcasing breakthrough technologies that are transforming laboratory operations and industry practices. Attendees had the opportunity to explore cutting-edge products and solutions that are shaping the future of laboratory technology.
Exclusive Lab Tours
Specially curated Lab Tours took participants behind the scenes of leading research and testing facilities in Vietnam. These tours offered a deeper understanding of local industry advancements and provided insights into the real-world applications of the technologies showcased at the event.
Future Editions: analytica Convention 2026 in Hanoi & analytica Vietnam 2027 in Ho Chi Minh City
Building on the remarkable success of analytica Vietnam 2025, MMI Asia is set to extend its reach across Vietnam. The analytica Convention 2026 will take place from April 22–24, 2026, at the International Exhibition Center (ICE) in Hanoi. Designed as an exclusive gathering, this event will feature a top-tier scientific conference and a focused showcase of laboratory technologies, offering industry professionals and academics in Northern Vietnam direct access to global innovations.
The full-scale edition of analytica Vietnam will return to Ho Chi Minh City from March 31 to April 2, 2027, at the Saigon Exhibition and Convention Center (SECC). With expectations for greater international presence and broader industry coverage, the 2027 edition will continue to serve as a strategic hub for technology exchange, partnerships, and market expansion in Southeast Asia.
About analytica Vietnam
analytica Vietnam is the premier trade fair for laboratory technology, analysis, and biotechnology in Southeast Asia. Organized by Messe München, the event brings together industry professionals, researchers, and policymakers to showcase the latest technologies,exchange knowledge, and foster business collaborations. analytica Vietnam features an exhibition, conference, pre-event laboratory tours, buyer-seller programs, and networking opportunities, providing a comprehensive platform for the laboratory and biotechnology industries in the region. The upcoming edition is set to take place from April 2 to 4, 2025 at the SECC – Saigon Exhibition and Convention Center. More details can be found at https://www.analyticavietnam.com/.
About analytica worldwide
Messe München is the world’s leading trade fair organizer for laboratory technology, analysis and biotechnology. The international network of exhibitions includes analytica, analytica China, analytica Anacon India & India Lab Expo, analytica Vietnam and analytica Lab Africa.
About MMI Asia Pte Ltd
Established in 1992, MMI Asia is the wholly owned subsidiary and the regional headquarters of Messe München GMBH (MMG) and is one of the world largest and leading exhibition organizers. MMI Asia’s portfolio of events include editions of worldleading trade fairs from Munich – transport logistic & air cargo, analytica, ceramitec; as well as industry-specific events such as Glasstech and Fenestration Asia, Asia Climate Forum, and Singapore International Water Week. MMI Asia also provides consultancy in professional trade fair and conference management to government bodies, international trade and promotion organizations, and trade associations. For more information, please visit www.mmiasia.com
About Messe München
As one of the world’s leading trade fair organizers, Messe München presents the world of tomorrow at its about 90 trade fairs worldwide. These include twelve of the world’s leading trade fairs such as bauma, BAU, IFAT, electronica, and ISPO. Messe München’s portfolio comprises trade fairs for capital and consumer goods, as well as for new technologies. Together with its subsidiaries, it organizes trade fairs in China, India, Brazil, South Africa, Turkey, Singapore, Vietnam, Hong Kong, Thailand, and the U.S. With a network of more than 15 affiliated companies and almost 70 representations worldwide, Messe München is active in more than 130 countries. The more than 150 events held annually attract around 50,000 exhibitors and around three million visitors in Germany and abroad.
Exhibition Contact: MMI Asia Pte. Ltd. Daniel Shi Exhibition Director daniel@mmiasia.com.sg
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Passengers Can Now Enjoy Seamless Travels To Renown Tourist Destinations In Indonesia Via Bali
PT TransNusa Aviation Mandiri makes Indonesia proud by becoming the first Indonesian airline to launch the attractive Bali-Guangzhou route to China
TransNusa successfully started sale of tickets on February 24th with a promotional rate of IDR2.388.000, CNY999 and USD149, one-way
TransNusa continuously expands international route and strengthens Bali base in Indonesia
TRANSNUSAhas created history yet again and became the first Indonesian airline to launch scheduled flights from Bali, Indonesia to Guangzhou, China. The launch, which took place today, saw TransNusa’s flight, 8B 969, depart Bali on April 13 at 20.15pm and arrive at the Guangzhou Baiyun International Airport, as scheduled at 01.00am on April 14.
This move, being a strategic triumph for the airline, was launched weeks after the launch of the airline’s new scheduled Bali-Perth route on March 20.
TransNusa Group Chief Executive Officer and aviation veteran, Datuk Bernard Francis said that since TransNusa’s re-launch as a Premium Service Carrier in 2022, the airline has focused on meeting the needs and wants of our passengers.
“Our main priority and focus is to create new exciting routes for our passengers and offer seamless and fast travels, whether through direct routes or transits routes.” Datuk Francis added.
Details of the new Route TransNusa launched its Bali-Guangzhou route at a promotional price that starts from IDR2.388.000, CNY999 and USD149. TransNusa tickets are available for purchase at transnusa.co.id and all other main online travel agent platforms worldwide.
“With the launch of this new route, we hope to provide tourists from China additional options to travel to the Island of Gods, Bali,” Datuk Francis said, adding that TransNusa will also provide its passengers with options to visit other major tourist destinations from Bali, such as Indonesia’s diving haven, the island of Manado.
At the initial stage, from April 13th to May 31st, TransNusa will be operating four flights a week from I Gusti Ngurah Rai International Airport, popularly known as the Denpasar International Airport. The TransNusa flight, 8B 969, will depart Bali at 20.15pm and arrive at the Guangzhou Baiyun International Airport at 01.00am while TransNusa flight, 8B 968, will depart Guangzhou Baiyun International Airport at 02.05am and arrive in Bali at 07.40am. The TransNusa flight will depart Bali every Monday, Wednesday, Saturday, and Sunday, while flights will depart Guangzhou on Monday, Tuesday, Thursday, and Sunday. For this scheduled flight, TransNusa will be utilizing its A320 narrow-body jet airliner, which has 174 seats, to cater for the five-hour scheduled flight.
Datuk Francis explained that the airline will increase the frequency of the scheduled Bali-Guangzhou route from four times weekly to daily flights from June 1st onwards.
Datuk Bernard Francis
Brief History On TransNusa TransNusa, which had to close business due to the Covid-19 pandemic was injected with new shareholders and management team in 2022. The airline opened its doors for business in October and within six months, in April 2023, launched its first international flight from Jakarta to Kuala Lumpur, Malaysia.
After which, under the new leadership of Datuk Francis, and the new management team, the airline successfully launched three more new international routes by the end of 2023. In 2024, the airline continued growing its international and domestic route and at the same time recording historical firsts that also became a significant industry first for the Indonesian aviation industry.
Since April 2023, TransNusa has been making headlines in Malaysia, Singapore, China and around the world with news of being the first airline in Indonesia and the world to develop and introduce a new domestic route connecting Bali and diving haven, Manado. TransNusa also became the second Indonesian airline to receive approval to fly to China and provided Indonesians with more pricing and route options to China.
TransNusa’s aggressive international growth strategy combined with its domestic business operations approach has enabled the airline to be the fastest growing airline in South East Asia.
– ENDS –
About TransNusa TransNusa Airline, is a Premium Service Carrier. After the take-over, in February 2024, the airline rebranded itself from being a Low-Cost Carrier to a Premium Service Carrier in line with its upgraded aircrafts that offers better comfort as well as based on the flexibility and quality of the services offered.
TransNusa, which received its AOC certification on 9th September 2022, launch its first three A320 operations on 6th October, 14th October and 12th December, 2022. In 2023, TransNusa introduced a new business model making it the first Premium Service Carrier in the Asia Pacific region. TransNusa introduced its first international flight on 14th April, 2023. The airline is currently based in Jakarta Soekarno-Hatta International Airport.
The airline currently flies from Jakarta to Yogyakarta, Bali, Kuala Lumpur, Malaysia, Subang, Malaysia and Guangzhou, China. It also flies from Bali to Jakarta and Manado. TransNusa will be launching its scheduled Bali to Perth route on March 20th and its Bali to Guangzhou route on April13th. TransNusa made history when it became the second Indonesian airline to fly to China and the first Indonesian airline to launch a Premium Service Carrier business model.
Passengers can book their flights on the TransNusa website (www.transnusa.co.id), through authorized travel agents in Singapore, Malaysia and Indonesia, or by contacting the airline’s customer service centre at, +62216310888. For the Singaporean market, passengers can contact TransNusa’s General Sales Agent, Chariot Travels Pte Ltd, at +65 86602719 for assistance.
Media Contact Trina Thomas Raj trina@myqaseh.org +60124992672 (watsapp)
Kincora Copper Limited (TSXV: KCC) (ASX: KCC) (“KCC”, “Kincora” or the “Company”) is pleased to announce the execution of a major amendment to its existing agreement with a wholly owned subsidiary of AngloGold Ashanti plc (“AngloGold Ashanti”). The Agreement opens the way for more extensive exploration in the Northern Junee-Narromine Belt (“NJNB”) of the Macquarie Arc, Central West NSW, Australia. The NJNB is a globally significant exploration opportunity offering new district scale porphyry potential.
First phase drilling at the Nyngan project is ongoing with activities initiated for initial drilling at the highly prospective Nevertire and Nevertire South projects, known for their geological similarities to major deposits like Cadia-Ridgeway.
John Holliday, Technical Committee chair, and Peter Leaman, VP of Exploration, commented:
“We are very pleased to broaden our partnership with AngloGold Ashanti. It comes as we continue to progress our ongoing exploration program at the Nyngan project, with a ground gravity survey and hole twelve of the scout drilling program recently completed.
In the wake of this second earn-in our drilling plans have been materially expanded at Nevertire and Nevertire South, and now cover three projects. However, and more importantly, we are well positioned to systematically and aggressively advance a new district scale portfolio of five projects covering over 2350km2.
The contiguous five projects cover a strike of greater than 100km, more than twice that of the emerging Vicuña district in the Central Andes, which is also an extension to a known world-class porphyry belt. The revised agreement is structured in a manner which supports Kincora shareholders being carried potentially to the equivalent stage of four pre-development recent discoveries in Vicuña that have a current valuation of over $10 billion.
AngloGold Ashanti is a successful greenfield explorer and while we are only now ramping up our exploration activities with them, they have already invested over $14 million in the NJNB. We are both very excited about the targets being drilled across the first three Kincora projects in 2025.
While Kincora has now unlocked over $110 million of potential partner funding we see ample scope to further significantly grow this figure. The Company is advancing discussions for further large-scale partner agreements and is on track to achieve its ambition for third party management fees to provide a self-funding financing exploration model.”
Figure 1: The Macquarie Arc is a proven Tier 1 terrane and Australia’s foremost copper porphyry belt hosting a number of world-class mines The Northern Junee-Narromine Belt (NJNB) is a largely untested extension of the Macquarie Arc situated under the post-mineral cover
Kincora’s asset level partner model for its wholly owned large scale exploration stage porphyry projects, commonly referred to a project generator model in the North American markets, has now unlocked over $110 million of potential partner funding for eight earlier stage and/or non-core porphyry projects1. Existing partners include:
AngloGold Ashanti (NYSE: AU) is the world’s fourth largest gold miner by production and is partner for the NJNB project portfolio (including five projects across two joint venture arrangements) 1(a);
Fleet Space Technologies Pty Ltd (“Fleet Space”, private) is one of Australia’s fastest growing companies and is widely recognised as Australia’s leading space exploration company. Fleet Space recently raised $150m in a Series D financing. It is Kincora’s partner for the Wongarbon project and recently completed its maiden integrated Ambient Noise Tomography and gravity geophysical survey at the Nyngan project 1(b,c);
Earth AI Pty Ltd (“Earth AI”, private), an Artificial Intelligence and Machine Learning explorer. Earth AI recently raised $20m in a Series B financing and is partner for the Cundumbul project 1(d); and,
Orbminco Limited (formerly Woomera Mining) is a Mongolian focused explorer and is partner for the Bronze Fox project 1(e).
Kincora is the current operator of the NJNB project portfolio with AngloGold Ashanti and receives a 10% management fee of expenditure.
Discussions are ongoing for further agreements for the Company’s remaining four (and generally significantly more advanced and/or proximal to existing world-class mines) porphyry projects in NSW, including Fairholme, Jemalong, Trundle and Nyngan West.
The Company plans to retain its Condobolin project, which hosts the historical Condobolin high grade open cut gold and base metals mining field situated within trucking distance to the Mineral Hill mine (which has capacity for, and is seeking, third party ore) and within the southern section of the emerging Cobar Superbasin. The timeline and capital needs to significantly add value and advance the Condobolin project is materially less than the Company’s porphyry projects.
Kincora’s ambition is to be the operator for exploration budgets of over $10 million per annum for the porphyry portfolio providing sufficient project management fees for the Company to be self funding (covering corporate costs and maintenance of remaining wholly owned projects) and have partnerships with a diversified portfolio of industry leading producers/explorers.
Nyngan, Nevertire and Nevertire South Programs
A major amendment to the original Earn-in and Joint Venture agreement with AngloGold Ashanti now includes the Nyngan South, Nevertire South and Mulla projects, which are adjacent to the Nyngan and Nevertire projects (the latter two included in the original May 2024 agreement) and streamlines exploration across a continuous strike that exceeds a 100km’s.
Initial scout drilling activities at the Nyngan project commenced late last year and are ongoing. To date, twelve holes in total have been complete in partnership with AngloGold Ashanti, and follows encouraging results for the first six holes completed in 4Q’20242.
Looking ahead, a recently completed ground gravity survey covering over 400km2 has identified a number of new potential targets for drilling. Interpretations and discussions for potential follow up drilling are now underway with AngloGold Ashanti as the scout drilling program continues. Various coincident magnetic and new gravity anomalies have been identified at both the wider South West and Ace of Spades Targets.
A Stage 2 follow up phase of step out drilling is proposed post completion of the scout drilling program.
Under the amended agreement, planned exploration activities have been expanded to support a first phase drilling program at both the Nevertire and Nevertire South projects with unimpeded access across the consolidated ~8 x 12km Nevertire Magmatic Complex (“NMC”).
Prior explorer drilling at the southern section of the NMC has returned anomalous copper-gold mineralisation, favourable fertility defined by green rock analysis, geochemical zonation and alteration suggestive of an outer porphyry system setting with age dates confirming a highly prospective Phase 4 Macquarie Arc intrusive complex (at approximately 220m depth down hole).
Having secured three prior explorer drill holes at the NMC from the Cadia mine site, a review by Kincora’s technical director John Holliday supports Newcrest prior interpretation that “drilling has identified lithologies, alteration and veining consistent with a setting similar to the Cadia-Ridgeway and Goonumbla porphyry Cu-Au deposits” 3.
John is a foremost figure on Macquarie Arc porphyry systems having been a principal originator, discoverer and site manager for the Tier 1 Cadia gold-copper porphyry and the Marsden copper gold porphyry deposits.
A priority for the upcoming drilling program is an initial follow up program to prior Newcrest hole ACDNY006 which returned a very encouraging intersection of anomalous copper mineralisation (from basement to end of hole), veining and magnetite alteration situated in a high volcanic-hosted level 3.
Prior Newcrest drilling supports Kincora’s view of the planned walk up drill targets within the Nevertire South project underpinning the most advanced and geologically prospective porphyry project within the NJNB district.
A planned drilling program seeks to step out from hole ACDNY006 to discover or create a vectoring pattern to a possible deposit and also test open extensions to the NMC – see Figure 2.
The drilling programs at the Nyngan, Nevertire and Nevertire South projects are expected to run into the third quarter of 2025, providing a steady stream of news flow and management fees to the Company.
Key terms of the Earn-in and Joint Venture Agreement
The key terms of the amended agreement with AngloGold Ashanti Australia Limited, a wholly owned subsidiary of AngloGold Ashanti plc, covering the Nyngan South (Exploration Licence 9708), Nevertire South (Exploration Licence 9710) and Mulla (Exploration License 9320) projects (“New Tenements”), are in addition to the arrangement in respect of the original May 2024 agreement for the Nyngan (Exploration Licence 8929) and Nevertire (Exploration Licence 8960) projects and, in summary, comprise:
AngloGold may earn a 70% initial interest in the New Tenement by incurring $25 million in total expenditure on exploration in the initial earn-in period of up to seven years upon which a joint venture would be formed (Phase I). This includes a minimum expenditure of $2 million within the first two years (Minimum Obligation). AngloGold is permitted to withdraw from the Agreement after satisfying the Minimum Obligation or payment of any shortfall.
AngloGold can then earn an additional 10% interest in the New Tenements (for a total interest of 80%) by completing a Pre-Feasibility Study (PFS) or by funding a further $25m of expenditure over an additional three years (Phase II).
Kincora will initially operate and conduct all exploration activities as directed by an Exploration Management Committee that will comprise two members from each party, and be entitled to a 10% management fee.
The amended agreement is otherwise on terms that are customary for similar agreements and includes the agreed principal terms of the proposed joint venture agreement that will apply if AngloGold earns an interest in the NJNB tenements.
All expenditure timelines under the Agreement can be accelerated.
The amendments to the existing agreement are conditional on Ministerial consent being obtained within six months.
Refer to the May 28, 205 release “AngloGold Ashanti to earn-in to the NJNB Project” for details for the original Earn-in and Joint Venture Agreement for the Nyngan and Nevertire projects.
About the NJNB Project Portfolio
The Macquarie Arc is Australia’s premier porphyry copper-gold province being a hotspot for recent corporate activity, with over $16 billion of M&A for producing assets and over $385m of exploration earn-in/joint ventures, and exploration success, including two greater than 10Moz gold equivalent discoveries/resource expansions 4.
Despite regional magnetics effectively mapping the Macquarie Arc volcanic belts, due to the post mineral cover there has been very limited prior drilling of the extensions of both the Junee-Narromine and Molong volcanic belts relative to the southern more outcropping sections. These more mature southern exploration regions host over 160Moz gold equivalent inventory 5 and a number of world-class mines (Cadia, Cowal and Northparkes).
Kincora’s portfolio and the wider NJNB offers new district-scale discovery potential with spatial and temporal settings, coupled with magnetics, gravity and new Ambient Noise Tomography (ANT) surveys, supportive of large-scale targets analogous to porphyry deposits located in the southern section of the Arc. AngloGold Ashanti has secured Earn-in and Joint Venture Agreements with both Kincora and Inflection Resources (Inflection, market capitalisation C$33.7 million, >4x Kincora’s 6) covering ~10,000km2 within the NJNB with over A$14 million investment to date 7. In the last month AngloGold Ashanti has moved to Phase II of its earn-in agreement with Inflection designating a total of four projects to continue earning into (including two projects adjacent to Kincora’s Nyngan project) 8 – see Figure 2.
The most recent notable example of a new globally significant emerging porphyry district is the Vicuña district, which is also an extension of a renowned world-class porphyry belt. Vicuña is an extension of the central Andean belts in Argentina on the border of Chile and situated at over 4000m altitude.
Within this district NGEx Resources Inc in 2009 held three early-stage exploration projects and at the time had a market capitalisation of approximately C$40 million 9. These same projects are all still at a pre-development phase but have yielded in four large-scale discoveries currently valued at over $10 billion 10.
Kincora was an early mover into the Northern Junee-Narromine Belt, securing a district scale portfolio of the interpreted most prospective and shallow to moderate covered part of the northwards extension of the Macquarie Arc under post mineral cover. This portfolio now covers a strike twice the length of the Vicuña district and included in earn-in and agreements with AngloGold Ashanti.
The NJNB is virgin exploration territory and offers new district-scale discovery potential with spatial and temporal settings, coupled with regional magnetics and gravity, supportive of large-scale intrusive complexes and targets analogous to porphyry deposits located in the southern and more mature sections of the Macquarie Arc.
Figure 2: First phase drilling activities at Kincora’s Nyngan project are ongoing with activities initiated for initial drilling at the highly prospective Nevertire and Nevertire South projects In the last month, AngloGold Ashanti has moved to Phase II of its earn-in agreement with Inflection Resources (market capitalisation >C$33 million) designating a total of four projects to continue earning into (including two adjacent to Kincora’s Nyngan and Nyngan South licenses) and formed a second earn-in and joint venture agreement with Kincora
AngloGold Ashanti plc (NYSE: AU) (market capitalization ~US$21.6 billion) is the world’s fourth largest gold miner by production with projects and exploration activities across nine countries on four continents.
AngloGold pursues value-creating opportunities, where it can leverage their existing assets, shareholdings, skills and experience.
AngloGold has a track record of successful exploration with its greenfields and brownfields exploration programmes seeking to support sustainability and growth of its business. AngloGold’s greenfield exploration strategy aims to discover large, high-value Mineral Resources that will eventually lead to the development of new gold mines.
Kincora Copper is an active explorer and project generator focused on world-class copper-gold discoveries.
Kincora’s portfolio includes district scale landholdings and scale-able drill ready targets in both Australia and Mongolia’s leading porphyry belts, the Macquarie Arc and Southern Gobi, respectively, and the historical Condobolin mining field in the southern section of the Cobar superbasin NSW.
400 – 837 West Hastings Street Vancouver, BC V6C 3N6, Canada Tel: 1.604.283.1722 Fax: 1.888.241.5996
Subsidiary office Australia
Vista Australia Level 4, 100 Albert Road South Melbourne, Victoria 3205
References:
(1) Over $110 million of potential partner funding for eight earlier stage and/or non-core projects includes:
(a) In addition to the terms announced in this release, the original up to A$50m earn-in & JV agreement with AngloGold Ashanti for the Nyngan & Nevertire projects: refer May 28, 2024 release “AngloGold Ashanti to earn-in to the NJNB Project” (estimated budget to end of Dec 2024 >$1.5m, incl. 2707m drilling, Kincora currently the project manager receiving a 10% fee of expenditure). For more information on AngloGold Ashanti please visit their website at www.anglogoldashanti.com
(b) Fleet Space Technologies (which in December 2024 raised $150m in a Series D financing) partnership under R&D Grant for geophysical surveys at Nyngan: refer Jul 25, 2024 release “ANT and Gravity Geophysical Surveys at the Nyngan Project” (est. budget $500k). For more information on Fleet Space please visit their website at https://www.fleetspace.com
(c) Fleet Space partnership for the Wongarbon project: refer Oct 16, 2024 release “Kincora announces Strategic Investment & Expanded Partnership with Fleet Space” (Fleet Space is to conduct ANT & gravity surveys with the right to fund >2000m of drilling for an earn-in/JV. Est. budget for ANT & gravity surveys $600k, follow up drilling >$0.5m)
(d) Exploration Alliance partner Earth AI (which in January 2025 raised US$20m in a Series B financing) drilling commenced at the Cundumbul project: refer May 20, 2024 release “Artificial Intelligence Partner Drilling New Copper Targets at the Cundumbul Project” (Earth AI has the right to right to spend up to $4.5m at Cundumbul and earn an NSR upon a “qualifying interval”. Estimated budget to date >$750k, incl. 5 completed holes for >2500m with a VTEM geophysical survey recently completed and analysis ongoing).
(e) Woomera Mining (now Orbminco Ltd) agreement for Kincora’s Mongolian assets: refer Aug 12, 2024 release “Kincora secures funded, successful and motivated partner for Mongolian assets” & Orbminco release Jan 14, 2025 “Drilling Results for Bronze Fox Copper-Gold Project“, incl. drilling results & technical details/disclaimers (Orbminco has the right to spend US$4m for a 80% interest in the Mongolian subsidiaries with Kincora free carry also to FID or a cash payment + NSR acquisition right for 100% interest. Orbminco consideration shares to Kincora $450k. Estimated budget >C$960k to Dec 31, 2024 incl. 2516m of drilling (& ex-planned conversion of the western exploration to a mining license and 2025 field work/drilling).
(2) Refer to Kincora’s exploration update press release Feb 13, 2025, “Encouraging results expands Kincora Copper and AngloGold Ashanti’s First Drilling Program”
(3) Newcrest Mining annual reports (public access) for former license EL6337, available on DIGS via MinView (https://minview.geoscience.nsw.gov.au).
(4) Ocean Blue Equities Oct 8, 2024 initiation research report on Waratah Minerals with the addition of Newmont’s earn-in and joint venture agreements with Koonenberry Gold for the:
(a) Junee porphyry project ($23.9m of expenditure to date, ex the Jan 2025 drilling with Koonenberry Gold carried until commercial production); and,
(b) Fairholme porphyry project (Koonenberry carried until $15m of exploration expenditure, with $1.14m spent to date, ex the Jan 2025 drilling program).
(7) Includes AngloGold Ashanti funded exploration with Kincora and Inflection as at Dec 31, 2024, including Phase 1 and Phase 2 expenditures with Inflection (refer to the Mar 3, 2025 “MD&A” for the quarter ended Dec 2024).
(8) Refer to Inflection Resources’ Mar 25, 2025 release “AngloGold Ashanti Designates Four Inflection Resources Projects for Phase II of Exploration Earn-in Agreement”.
(9) NGEx Minerals valuation 2009 when it owned the projects included in (3). Refer to NGEx’s presentation July 2024 for further details.
(10) “>$10 billion market value“: includes values for Filo Corp & Josemaria based on the Jul 29, 2024 transaction values from Lundin Mining & BHP (see public market releases, “Lundin Mining and BHP to Acquire Filo and Form a 50/50 Joint Venture to Progress the Filo del Sol and Josemaria Projects“) and Apr 11, 2025 market capitalisation of NGEx Minerals.
Forward-Looking Statements
Certain information regarding Kincora contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-Looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Kincora believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Kincora cautions that actual performance will be affected by a number of factors, most of which are beyond its control, and that future events and results may vary substantially from what Kincora currently foresees. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration results, continued availability of capital and financing and general economic, market or business conditions. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and is subject to change after that date. Kincora does not assume the obligation to revise or update these forward-looking statements, except as may be required under applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) or the Australian Securities Exchange accepts responsibility for the adequacy or accuracy of this release.
– Electronics Fair runs concurrently showcasing cutting-edge products and solutions
– The 3rd InnoEX, themed “Innovate-Automate-Elevate”, opens today and runs for four days – The exhibition focuses on low-altitude economy, smart mobility, AI, robotics and cybersecurity, showcasing intelligent solutions to address industry pain points and unlock new business opportunities – The Smart Hong Kong Pavilion, established by the Digital Policy Office, features over 100 innovative projects – The 21st Hong Kong Electronics Fair (Spring Edition), held alongside InnoEX, spotlights smart home, health tech and wearable devices
The 3rd InnoEX, co-organised by the Innovation, Technology and Industry Bureau of the HKSAR Government and the Hong Kong Trade Development Council (HKTDC), opened today (13 to 16 April) at the Hong Kong Convention and Exhibition Centre and held concurrently with the 21st Hong Kong Electronics Fair (Spring Edition) (EFSE). The two exhibitions feature more than 2,800 exhibitors from 29 countries and showcase intelligent solutions to address industry pain points and unlock new business opportunities. Professionals from the innovation and technology sector, investors, trade buyers and end users from various industries including SMEs are invited to visit and source.
InnoEX and the EFSE are the highlight events of the Business of Innovation and Technology Week (BIT Week). During the opening ceremony of BIT Week, Paul Chan, Financial Secretary of the HKSAR Government, gave opening remarks while Margaret Fong, HKTDC Executive Director, gave a welcome speech. Margaret Fong said, “BIT Week is more than just a series of events, but a testament to Hong Kong’s role as an international innovation and technology (I&T) hub. Hong Kong’s strategic location, world-class infrastructure, and business-friendly environment make it an ideal destination for cutting-edge research, investment, and entrepreneurship.
Margaret Fong also mentioned that this year’s InnoEX has over 500 exhibitors from 17 countries and regions, representing a diverse lineup of world-class innovators, R&D centres, and technology pioneers. Japan, Thailand and the UK have expanded their participation, and welcomes first-time participation from Australia, Luxembourg, Malaysia, Sweden and the UAE, enhancing the international stature of the fair. Alongside InnoEX is the EFSE which is showcasing the latest in consumer electronics to international buyers.
InnoEX spotlights Mainland Chinalow-altitude economy solutions and robotics InnoEX and the EFSE bring together pavilions and exhibitors from Hong Kong, Mainland China, Macao and other regions across Asia—including ASEAN members, as well as the Middle East, Europe, the Americas, Africa and Oceania.
InnoEX focuses on the most popular and anticipated technology fields in the market, covering areas such as the low-altitude economy, smart mobility, AI, robotics, and cybersecurity, showcasing various smart solutions.
Paul Chan, Financial Secretary of the HKSAR Government and Professor Sun Dong, Secretary for Innovation, Technology and Industry of the HKSAR Government visited exhibitors at InnoEX and showed their support. Professor Sun Dong also hosted the InnoEX welcome dinner last night, attended by exhibitors, buyers and industry representatives.
As Hong Kong is actively developing the low-altitude economy, InnoEX brings several rapidly developing drone and aerial car companies to showcase their solutions. Among them is Shanghai-based Vertaxi (Booth: 3B-B02A), whose drones have supported flood relief operations in Mainland China. Sichuan-based Aerofugia (Booth: 3B-B03) also introduces its electric aerial car in InnoEX.
In terms of smart mobility, Hong Kong’s Novautek Autonomous Driving Limited (Booth 3E-B11) presents an unmanned vehicle capable of delivering food and parcels, even in adverse weather and on steep slopes.
The use of artificial intelligence has become widespread and across various industry sectors. Cyberport has brought TradeMonday (Booth 3D-A01) to demonstrate a data analytics platform for the retail sector, helping SMEs gather competitors’ intelligence and refine market strategies.
Demonstrating the rapid advancement of robotics, Guangdong pavilion’s High Torque (Booth: 3E-B01) unveiled a 10kg humanoid robot that can walk, jump and overcome obstacles. Universities use this robot for hands-on programming training, helping students develop coding skills.
As Cybersecurity is becoming increasingly important, Hong Kong exhibitor Tradelink Electronic Commerce Limited (Booth: 3E-B09) offers a deepfake-detection solution capable of exposing face-swap and voice-mimicry scams with 98% accuracy.
The Smart Hong Kong Pavilion, set up by the Digital Policy Office, focuses on data-driven and AI applications, featuring over 100 projects that impact daily life. Highlights include solutions from 20 government bureaux and departments and award-winning entries from innovation competitions. Among them is the Architectural Services Department’s “Wall Climbing Robot”, which navigates rough and glass surfaces to conduct facade inspections safely and accurately, eliminating the personnel risks associated with high-altitude work.
Hong Kong Science and Technology Parks Corporation (HKSTP) has 16 park companies at the HKSTP pavilion across three industry fields, namely AI & Data, Digital Transformation, and Micro-Electronics & Sustainable Technology. Highlighted innovations include Green Vigor’s patented Hydro Power Intelli-Recycle, which recycles unused energy from water supply systems in buildings and converts it into renewable energy. Additionally, there are eight HKSTP park companies joining EFSE.
InnoEX features four themed days, each with forums and seminars on hot technology topics. The theme day today (13 April) is on the low-altitude economy and technology-driven economy. The Tech-Driven Industry and Economy Conference, presented by the HKSAR Government’s Office for Attracting Strategic Enterprises, centred on the theme “Empowering Industry for a Connected Global Economy”, and Professor Sun Dong, Secretary for Innovation, Technology and Industry of the HKSAR Government, gave the opening speech. The conference invited government officials and industry experts to discuss how policies help foster industrial development, drive innovation and support sustainable growth, and share successful global practices and emerging trends.
The other themed days of InnoEX include AI and Robotics Technology (14 April) and Cybersecurity (15 April) while the last day (16 April) will focus on Solutions for SMEs, with government departments and several technology solution providers introducing government support programs and innovative solutions to assist SMEs in their development.
EFSEbrings cutting-edge products Running alongside InnoEX, the 21st EFSE continues under the theme “World’s Leading Electronics Marketplace”, with a focus on smart home, health tech and wearable devices.
In the smart home sector, local exhibitor Tuya (Booth: 1B-F02) has partnered with major appliance brands to enable seamless interconnectivity across smart home ecosystems, allowing users to control appliances from different brands via a single app.
In the field of health tech and wearable devices, Mainland China exhibitor Shenzhen Minew Technologies (Booth: 5E-E20) will showcase an electronic bedside tag for hospitals that displays patient conditions and medication schedules, with data updated centrally to reduce manpower needs and minimise errors.
Returning this year, the Digital Entertainment Experiential Zone offers e-sports and interactive gaming experiences—including boxing, rowing and sailing simulations—for participants and buyers.
The key event of EFSE, the Tech Trends Symposium, will take place tomorrow under the theme of “AI on the Go: A New Era of Intelligent Wearable Electronics“. The symposium will feature industry leaders sharing how smart glasses, rings and other wearables integrate AI to reshape work and life.
BIT Week brings exciting events InnoEX and the EFSE are the core events of BIT Week, driven by the HKSAR Government’s Innovation, Technology and Industry Bureau and the HKTDC. Other highlights of BIT Week include the recently concluded Smart Lighting Expo and Hong Kong Web3 Festival, as well as the 2nd Hong Kong World Youth Science Conference, which also opened today at the Hong Kong Convention and Exhibition Centre. The conference brings together top experts—including Nobel Prize winning scholars—to discuss frontier topics across innovation and science.
Additionally, the World Internet Conference designated Hong Kong for the first time to host the Asia-Pacific Summit, which begins tomorrow at the Hong Kong Convention and Exhibition Centre. The two-day event is expected to attract over 1,000 participants from around the world to explore the latest trends in AI, digital finance, digital government and smart living, creating synergies with other BIT Week events.
About HKTDC The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong’s trade. With over 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels.
With the aim of attracting exceptionally talented individuals and investment into the Kingdom of Bahrain, in line with strategic efforts to enhance national competitiveness and support development across various economic, investment, and service sectors, Bahrain today launched a website (www.goldenresidendy.gov.bh) and a hotline (+973 17484000) dedicated to providing information on its Golden Residency Program. The new services work towards providing a point of reference for interested applicants and beneficiaries.
Since the Golden Residency Program was first launched in 2022 as part of the Economic Recovery Plan, the Nationality, Passports, and Residence Affairs has granted permanent residency to investors, expats owning real estate, artists, athletes, talented professionals, and long-serving employees alongside their dependents.
H.E. Noor bint Ali Alkhulaif, Minister of Sustainable Development, Chief Executive of Bahrain Economic Development Board said, “With its strategic location and its business-supportive ecosystem, the Kingdom of Bahrain has always been a hub for both global talent and investment. The Golden Residency Program reaffirms our commitment to fostering a dynamic and welcoming environment where individuals and businesses can thrive and become part of Bahrain’s growth plans. Bahrain is committed to consistently providing streamlined and advanced services to its citizens, residents, and visitors.”
Bahrain has cemented itself as the destination of choice for global professionals and investors. With its welcoming community and high quality of life, it offers an attractive home for all. Residents enjoy a cosmopolitan lifestyle that blends modern island living with rich cultural heritage. As a regional business hub, Bahrain offers 100% foreign ownership in most sectors, a competitive taxation system, and a highly skilled bilingual workforce. Positioned at the heart of the Arabian Gulf, residents will experience strategic access to key markets and a business-friendly regulatory environment that fosters innovation and investment.
H.E. Shaikh Hisham bin Abdulrahman Al Khalifa, Undersecretary of the Ministry of Interior for Nationality, Passports, and Residence Affairs (NPRA) said: “Through the Golden Residency Program, we aim to attract global talent and investors to contribute to Bahrain’s development plans. The website and hotline going live enable us to provide comprehensive information on the program, which will support in attracting talent and investment, thereby positioning the Kingdom as one of the region’s tourism destinations of choice.”
The Golden Residency Program enables holders and their families to live and work in Bahrain, and is available to individuals who meet the following eligibility criteria:
Employees: Professionals who have worked in Bahrain for at least five years with a minimum monthly salary of BHD 2,000 (equivalent to USD 5,306) over the past five years.
Property Owners: Investors who own real estate in Bahrain valued at BHD 200,000 (equivalent to USD 530,555) or more at the time of purchase.
Retirees: Individuals who have worked in Bahrain for at least 15 years and have an average monthly pension of BHD 2,000 (equivalent to USD 5,306) or more during the last five years of residency. Non-residents with an average monthly pension of over BHD 4,000 (equivalent to USD 10,624) are also eligible.
Talented Individuals: Entrepreneurs, highly skilled professionals, and individuals who contribute significantly to Bahrain’s economy or society.
Eligible individuals can apply to the Program through Bahrain’s eGovernment portal which provides a fast and efficient application process. A dedicated team is also available to assist Golden Residency applicants and holders, ensuring they have access to ongoing support in the Kingdom.
For more information, please contact: Abdulelah Abdulla Communications Department Economic Development Board Phone: +973-39798919 E-mail: internationalmedia@bahrainedb.com
About Bahrain Economic Development Board (Bahrain EDB) Bahrain Economic Development Board (Bahrain EDB) is an investment promotion agency with overall responsibility for attracting investment into the Kingdom and supporting initiatives that enhance the investment climate. Bahrain EDB works with the government and both current and prospective investors to ensure that Bahrain’s investment climate is attractive, to communicate the key strengths, and to identify where opportunities exist for further economic growth through investment.
Bahrain EDB focuses on several economic sectors that capitalise on Bahrain’s competitive advantages and provide significant investment opportunities. These sectors include financial services, manufacturing, logistics, ICT and tourism.For more information on the Bahrain EDB, visit www.bahrainedb.com.
General Atomics Aeronautical Systems, Inc. (GA-ASI) and South Korea’s Hanwha Aerospace have agreed to collaborate on the development and production of Unmanned Aircraft Systems (UAS) for the global defense market. The joint effort follows the successful completion of a major flight demonstration in 2024 when the two companies launched a GA-ASI MQ-1C Gray Eagle® STOL (GE STOL) UAS from the South Korean Navy’s amphibious landing ship ROKS Dokdo (LPH-6111) as it was underway at sea off the coast of Pohang, South Korea.
GA-ASI and Hanwha Aerospace collaborated on a historic ship to land flight demonstration using Gray Eagle STOL on Nov. 12, 2024.
The demonstration illustrated the ability of the GE STOL to safely operate on many types of aircraft-capable ships, which opens myriad new ways for the U.S. and its allies to use this UAS to support multi-domain operations. It also paved the way for GA-ASI and Hanwha to sign this new agreement to jointly invest in and pursue new UAS business opportunities.
“We’re excited to extend and deepen our business relationship with Hanwha,” said GA-ASI CEO Linden Blue, who supervised the November 12, 2024, at-sea demonstration. “Our test flight with Gray Eagle STOL was well-received by the Republic of Korea Navy, and we know Hanwha is ready to invest to grow a UAS business with GA-ASI both in Korea and the U.S.”
Gray Eagle STOL-which stands for short takeoff and landing-is the only medium-altitude, long-endurance aircraft of its kind with the ability to operate without a catapult or arresting gear from fight deck-equipped warships such as amphibious ships and aircraft carriers. It additionally enables true runway independence by operating from unimproved fields and roads, beaches, parking lots, etc.
Hanwha Aerospace plans to invest more than 300 billion KRW (US $203.5M) in the development and production facilities for GE STOL and UAS engines, expand research and development activities, and provide production infrastructure in both South Korea and with GA-ASI in the U.S. This is in addition to GA-ASI’s past and ongoing investment in UAS STOL development. Hanwha also plans to create jobs by securing talent in related fields and to foster the domestic (Korean) UAS industry ecosystem by discovering domestic parts and material partner companies. GA-ASI expects the endeavor to create nearly 10,000 jobs based upon the expected sales and support over the next 10 years, and at least 500 jobs in the U.S.
“Hanwha Aerospace views unmanned systems as a strategic pillar for the future of defense. Through our collaboration with GA-ASI, we aim to strengthen sovereign defense capabilities, expand Korea’s presence in the global UAS market, and contribute to a more robust ROK-U.S. alliance, said Dong Kwan Kim, Vice Chairman of Hanwha Group.
Previously known as Mojave, Gray Eagle STOL leverages extensive commonality with the well-proven, in-production Gray Eagle 25M airframe to offer a highly capable new aircraft at greatly reduced cost and technical risk compared to a clean-sheet design. Gray Eagle STOL has recorded a number of first-of-their-kind aviation milestones, including the flight from the Dokdo, launch and recovery aboard the British aircraft carrier HMS Prince of Wales (09), live-fire testing at Yuma Proving Ground, Ariz., and several others. Gray Eagle STOL offers international militaries a unique platform: a full-featured medium-altitude, long-endurance UAS with a significant battlefield payload that can take off in short distances from ships, unimproved surfaces, or other highly combat-relevant locations.
About Hanwha Aerospace
Hanwha is South Korea’s seventh-largest business group, with innovative businesses in the areas of aerospace & mechatronics, clean energy and ocean solutions, finance, and retail and services. Hanwha Aerospace is a world leader that specializes in the design, development, assembling, and maintaining aircraft gas turbines and engine parts, aircraft components, as well as space systems, guided missile systems, and land and naval weapon systems to include providing highly specialized and dedicated organizational and depot maintenance support across these products. www.hanwha.com
About GA-ASI General Atomics Aeronautical Systems, Inc. is the world’s foremost builder of Unmanned Aircraft Systems (UAS). Logging more than 8 million flight hours, the Predator® line of UAS has flown for over 30 years and includes MQ-9A Reaper®, MQ-1C Gray Eagle® 25M, MQ-20 Avenger®, XQ-67A, YFQ-42A, and MQ-9B SkyGuardian®/SeaGuardian®. The company is dedicated to providing long-endurance, multi-mission solutions that deliver persistent situational awareness and rapid strike.
Avenger, EagleEye, Gray Eagle, Lynx, Predator, Reaper, SeaGuardian, and SkyGuardian are trademarks of General Atomics Aeronautical Systems, Inc., registered in the United States and/or other countries.
