Kibush Capital (DLCR) Update
Kibush Capital Corporation (OTC: DLCR) announces the acquisition of new logistics equipment aimed at lowering production costs and enhancing capacity. The equipment will not only assist operations during wet seasons in Papua New Guinea but can also be rented out to generate additional revenue. The company is targeting a minimum export of 2 containers per week and is in discussions regarding potential gold opportunities with the Government Mineral Resources Authority. CEO Warren Sheppard expresses optimism about increased production and future expansions.
- Acquisition of logistics equipment expected to lower production costs.
- New equipment increases capacity and allows for additional revenue through rentals.
- Targeting minimum export of 2 containers per week, with plans to increase.
- Identified potential gold opportunities and initiated discussions with authorities.
- None.
New Equipment, results in lower production costs and increased capacity.
MELBOURNE, Australia, May 25, 2021 (GLOBE NEWSWIRE) -- Kibush Capital Corporation (OTC: DLCR) is pleased to announce that it has purchased and commissioned Logistics Equipment that will have a direct link to Increased Capacity and throughput as well as lowering costs. Additionally, when idle this equipment can be leased out for client freight requirements, which on initial feedback could be a significant revenue producing division. Theses Equipment additions assist Revenue when we slow for the Wet Seasons in Papua New Guinea, the daily rentals will even out cashflow and provide steady income when we are unable to log at site. The Capital Works program currently underway includes modifications to existing equipment to enable multi usage so that our capacity our of our logging site has flexibility and increased capacity.
In addition, we have purchased critical replacement parts so that our second Caterpillar Dozer can enter service at Gaire, we are currently identifying 2 other Dozers and a Skidder that we acquire to boost capacity.
With the lumber demand increasing, our export customers have also increased in number and therefore we are now starting to equip ourselves with the necessary capacity to service that increase in demand. 2 Containers a week is the minimum we are aiming for in the immediate future, and our expectations are to increase that again in June 2021.
On the Gold Opportunities we have identified 2 suitable sites and have commenced discussions and due diligence with the Government Mineral Resources Authority and the relevant stakeholders, this exercise will take some time to process and gain the relevant approvals from all parties concerned. Nevertheless, we have made a start and are keen to finalise as quickly as possible.
Warren Sheppard, CEO of DLCR, had the following to say.
“The company Managers and Employees in Papua New Guinea have been extremely busy over the start of 2021, already we are seeing production increase and with the equipment acquired coming on stream now and in the next few weeks this will again see the company move a significant step forward. We aim to get at least another 2-3 dozers working at site and from this we will give confidence to the Govt Timber authority for the company to make further applications for additional land areas to log. On the Gold Projects identified I am excited by initial information that we are reviewing, and our Gold Management Team are keen to get this moving as quickly as possible."
About Kibush Capital Corporation:
Kibush Capital is a Resource company with Timber Operations in Papua New Guinea, and Australian CBD import and distribution.
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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