KIBUSH CAP CORP COM (OTCMKTS: DLCR) shares were up 89.47% to $0.00360 and flat in after-hours trading. The company has a market cap of $147,100.00 at 77.40 million shares outstanding. Shares have been trading in a 52-week range of $0.00 to $0.04.
Kibush Cap Corp Com is a resource company with operations in Jade in New South Wales, Australia, and Gold and Timber Operations in Papua New Guinea. It identifies companies with proven products and opportunities that can be sold to produce revenue. The company is looking for opportunities that can be scaled up quickly and provides the management and financial expertise to move its acquisition to a higher level.
Earlier in the year, Kibush Cap Corp Com announced that it has entered into negotiations with land owners of the Kunuba District to commercialize their area for timber logging, following a visit to Papua New Guinea. This Kunuba area has more than 100,000 hectares of primary forest, on top of a 19-km road corridor joining the villages Kuni to Tolokuma with an additional estimated 95,000 hectares.
In this area, timber resources are expected to be at around 19 million cubic meters. At $500 per cubic meter, this would yield $9.5 million in resources since the trees felled in the road clearing operations would also be the property of Kibush Cap Corp Com.
According to its CEO Mr. Sheppard, this will be an excellent addition to the resources held by the company and will enable the company to open up a number of markets that Kibush Cap Corp Com can sell into both domestically in Papua New Guinea and also for export. Other projects held by the company are gold mining leases in Papua New Guinea and ownership of 70% of a jade company in Australia. Aside from that, Kibush Cap Corp Com is in the process of setting up an Australian based advisory board to pursue further projects in the area.
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