Kibush Capital Announces Kunuba Resource Contract

Feb 18, 2016, 07:05 ET from Kibush Capital Corporation

MELBOURNE, Australia, Feb. 18, 2016 /PRNewswire/ -- Kibush Capital Corporation (OTC: DLCR) announced today that following a visit to Papua New Guinea two weeks ago, by Mr. Sheppard CEO, the company has entered into negotiations with land owners of the Kunuba District to commercialise their area for Timber Logging. The Kunuba area has in excess of 100,000 hectares of primary forest. Mr. Vincent Appo Operations Manager is currently conducting due diligence on the project and assessing the logistics involved. The area also covers the road corridor joining the villages Kuni to Tolokuma, the road is 19 kms with a clearing width of 50 metres, all trees felled in the road process are the property of Kibush Capital, road clearance has started. The estimated area of this road corridor is 95,000 hectares, from an initial review, this area alone would yield 19 million cubic metres, at $USD500 per cubic metre there is a resource of $USD9.5M. Mr. Sheppard said this will be an excellent addition to the resources held by Kibush Capital, the overall resource of the total area will enable the company to open up a number of markets that the company can sell into both domestically in PNG and also for export.

About Kibush Capital Corporation:

Kibush Capital is a Resource company with operations in Jade in New South Wales, Australia, and Gold and 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.


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SOURCE Kibush Capital Corporation