• Mongolian explorer Resilience Mining Mongolia (RM1) seeks ASX listing again
• The company entered into an acquisition and joint venture agreement with Kincora Copper that involved listing RM1 on the ASX and completing an IPO to raise $5 million for exploration.
• After withdrawing bid and securing deal extension with Kincora, Resilience launches larger IPO between $7.5-10 million at 20 cents per share
• The IPO is scheduled for April and Resilience has until the end of February to appoint a new lead

Resilience Mining Mongolia (RM1) is once again looking to list on the ASX.

In July last year, the Mongolian explorer entered into a definitive acquisition and joint venture agreement with ASX-lister Kincora Copper (KCC) for Kincora’s Mongolian asset portfolio.

Kincora said the agreement would provide it with significant exploration and development potential without short to medium term funding obligations.

Resilience also expected to undertake an initial public offering (IPO) led by Novus Capital. The IPO was looking to raise between $5 million and $6 million and these funds would be used for drilling and field work in Mongolia.

After the IPO and listing on the ASX, Kincora would retain a 9.9% stake in the newly listed stock.

However, RM1 withdrew its request and the agreement between the company and Kincora was updated after Kincora granted it an extension.

Now, Resilience Mining Mongolia plans to complete its IPO in April and will aim to raise between $7.5 million and $10 million at 20 cents per share.

RM1 has until Feb. 28 to appoint a new lead and will have to repay Kincora at least 50% of its Mongolian maintenance payments once it receives additional funding before the IPO.

An additional requirement of the extended agreement is that Resilience will be required to cover the costs of converting the exploration target into a JORC and/or NI 43-101 first resource for the Bronze Fox Project prior to the IPO in April.