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Last A$0.03 AUD
Change Today 0.00 / 0.00%
Volume 0.0
As of 8:04 PM 08/30/15 All times are local (Market data is delayed by at least 15 minutes).

korab resources ltd (KOR) Snapshot

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04/27/15 - A$0.07
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12/2/14 - A$0.02
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korab resources ltd (KOR) Details

Korab Resources Limited engages in the exploration and evaluation of mineral properties in Australia and Ukraine. The company operates the Bobrikovo gold and silver project located in the Lugansk province in Eastern Ukraine and Geolsec phosphate mine located near Darwin in the Northern Territory. It also operates the Winchester magnesite project located near Darwin in the Northern Territory; the Ashburton Downs project located to the south of Paraburdoo in Western Australia; and the Batchelor and the Green Alligator projects located in the Rum Jungle Mineral Field in the Pine Creek orogen of the Northern Territory. Korab Resources Limited was founded in 1998 and is based in West Perth, Australia.

10 Employees
Last Reported Date: 09/30/14
Founded in 1998

korab resources ltd (KOR) Top Compensated Officers

Executive Chairman and Company Secretary
Total Annual Compensation: A$327.0K
Compensation as of Fiscal Year 2014.

korab resources ltd (KOR) Key Developments

Korab Resources Limited Appoints Anthony Guinness Wills as Non-Executive Director, Effective 1 May 2015

Korab Resources Limited announced that it has appointed Mr. Anthony Guinness Wills as a Non-Executive Director of the company effective from 1 May 2015. His director's fees will be similar to other non-executive directors of the company and will be paid out of the non-executive directors' pool. Mr. Wills has for the last 15 years been involved in the finance industry. Prior to that he served for 20 years in the Australian Defence Force, including 10 years in the Specials Forces serving with the SAS Regiment. Mr. Wills brings to the company experience in strategic planning, operations, security and risk management, communications, public relations and foreign affairs gained over his 30-year career. Mr. Wills also brings to the company his extensive network of Australian and overseas contacts established through his involvement with the United Nations and its various missions.

Korab Resources Ltd Announces Results of the Expanded Pre-Feasibility Study for Winchester Magnesite Quarry

Korab Resources Ltd. announced results of the expanded pre-feasibility study for Winchester magnesite quarry, located 85km south of Darwin. Key points: quarry life of 14 years based on indicated resource of 12.2 million tonnes; aggregate EBITDA of $395 million over quarry life; attractive long-run annual EBITDA of $32 million/year (at 800kt/year sales); high free cash flow (FCF) of $274 million over quarry life; FCF net present value of $116 million at 12% discount; substantial royalties income for the Northern Territory Government of $103 million over quarry life; exceptionally low capex of $4 million; marketing and offtake agreement executed with Rescap Investments for 25pc of annual production; and Rescap to provide comprehensive financing package for the development of Winchester (subject to due diligence). This expanded study, which included the estimates of revenues and various additional material costs such as haulage, port charges, interest, debt repayment, royalties and overheads, evaluated the economics of Winchester quarry assuming its development as a direct shipping ore (DSO) operation. Inclusion of additional information allowed estimation of earnings and net present value of the project. The results of the pre-feasibility study without inclusion of the above additional factors were first announced on January 13. The company confirms that all material assumptions underpinning the production target in that announcement continue to apply and have not materially changed. Results of the expanded study show that the project has very attractive economics combined with ability to potentially generate significant pre-tax earnings of $395 million over project life starting with the first year of operations.

Korab Resources Limited, Annual General Meeting, Nov 27, 2014

Korab Resources Limited, Annual General Meeting, Nov 27, 2014., at 17:00 W. Australia Standard Time. Location: BGC Centre, Plaza Leval, Corner of Howard Street and The Esplanade. Agenda: To consider the financial statements of the company for the year ended 30 June 2014, consisting of the profit and loss statement, balance sheet, report of the company and the reports of the directors and auditors for the year ended 30 June 2014; to consider remuneration report (advisory only); and to approve election of Daniel Smetana as director.


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