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Additional information
Additional Information
Market: ASX
Sector: General Mining
Epic: ASX:KOR
News: Latest news
Web Site: Korab Resources
Other Articles: 03-03-201001-03-201020-01-2010

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Thursday March 18, 08:01SmartFocus, Amphion Innovations and National Milk Records confirmed for March 18 Forum

The presentations will start at 6:00pm and finish at approx 7:30pm. After the presentations are complete the directors will also be available to take questions during a free canapé and wine reception.

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Thursday March 18, 01:14Cisco remains at the forefront of internet infrastructure

The stock has recently managed to breakout above the long term resistance found at the $25 level which should now provide support for any pullback before the share price drives higher

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Monday March 15, 08:01China's growth boosting commodity prices

The latest economic figures from China have put pressure on the dollar and boosted a number of high-yielding currencies, including the Australian dollar and the South African rand.

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Korab Resources

Korab Resources

Korab Resources Ltd (ASX: KOR) is an Australian-based mining company listed on Australian Securities Exchange (ASX) and traded on ASX and Berlin Stock Exchange (BSE).  Korab operates gold, silver, organic phosphate rock and magnesium projects in Australia and Europe. Korab's main focus is on development of its mining and quarrying assets in Australia and Ukraine.

 

Monday, September 28, 2009

Korab Resources raises fast $2 million

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Diversified miner Korab Resources (ASX: KOR) has raised a handy $2 million at 20 cents per share via a share purchase plan.

Topping up cash levels, the SPP closed oversubscribed within 16 days, receiving a strong response from shareholders.

Andrej Karpinski chairman of Korab said funds raised will be partly used for start up costs at the company's GeolSec phosphate rock organic fertiliser business, which is located 65 km south of Darwin in the Northern Territory.

The low capital cost GeolSec business is now fully funded to move into production in 2010. The GeolSec business can be developed as a simple quarrying operation, operating on a campaign basis of 4-6 weeks per year.

Projected output in year one is 15,000 tonnes per annum.  This would generate a projected 1st year after-tax profit of around $3.5 million, and earnings of 4.4 cents per share, according to the company. 

Targeted rampup is to 30,000 tpa, with a potential mine life of five years.

At the company's Bobrikovo gold mine, located within the Tethyan belt in eastern Ukraine, mining will recommence, with stockpiling of ore.

Funds raised will also assist mine design and commencement of mine permitting process at Melrose gold project which is located within the Wanganoo belt 160 km north of Leonora in Western Australia.

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