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Korab Resources Ltd is an Australian-based mining company listed on Australian Securities Exchange (ASX:KOR) and traded on ASX and Berlin Stock Exchange (BSE). Korab operates organic phosphate rock and magnesium projects in Australia. Korab also holds shares in two gold mining companies Melrose Gold Mines and Lugansk Gold. These shares will be transferred to Korab shareholders following the IPO's of these two companies on ASX.
Our corporate strategy is to establish Korab as a niche operator in sectors with strong historical growth and a continuing long term growth potential. Both our projects are characterised by low operating cost, high profit margin and superior logistics and location.
KORAB ORGANIC PHOSPHATE ROCK
KORAB MAGNESIUM
TWO IPOs of GOLD ASSETS
Korab has spun-off its gold mining assets into two new gold mining companies Melrose Gold Mines Ltd and Lugansk Gold Ltd. Both companies will seek listing on ASX this year. Korab shareholders will receive priority entitlements ahead of other retail and institutional investors in both IPO's.
MELROSE GOLD MINES
Melrose Gold Mines has 1,300 km of excelled gold exploration properties in Western Australia and the Northern Territory. One of the projects owned by Melrose Gold Mines is the Melrose gold project which has around 340,000 ounces of gold in JORC compliant resource.
Development drilling at Melrose
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Melrose gold project
Bungarra deposit oxide 3D model |
Mineralisation at Melrose is open at depth and along strike offering excellent exploration upside with a potential for additional resource nearby where drilling has discovered near-surface gold mineralisation. Melrose Gold Mines will complete a definitive feasibility study to develop this project following its IPO. Scoping study completed by independent experts shows that Melrose project may be developed as a stand alone operation or the ore may be trucked to the nearby mills at Bronzewing, Darlot or Thunderbox.
Bobrikovo deposit block model
200x200m central section, 7 m cells |
LUGANSK GOLD
Lugansk Gold's Bobrikovo gold and silver mine is located in the Lugansk region in eastern Ukraine. The project is currently mining and stockpiling the high grade oxide ore. It is expected that the mine will commence production of gold concentrate from oxide ore in 2011 (2). Oxide ore zone, which contains around 120,000 ounces of gold, has low strip ratio and high grade and can be concentrated at low capital and operating cost using a simple gravity circuit. Bobrikovo is targeting operating costs for the oxide zone around US$250 per ounce.
Bobrikovo has a JORC Code compliant resource of 1,012,000 ounces of gold. Approximately 500,000 ounces are in measured and indicated categories. Bobrikovo deposit has great exploration potential with mineralisation extending from surface to below 3,200 meters.
Government geologists have estimated that Bobrikovo contains between 2.3Moz and 3Moz Au in oxide and primary ores (3).
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INVESTOR PRESENTATIONS
Investor Briefing July 2010 new
Development of phosphate and magnesite deposits, IPO's of Lugansk Gold and Melrose Gold Mines
Australasian Fertiliser Conference (September 2009)
Geolsec Organic Phosphate Fertiliser Business
ANNUAL REPORT
Korab Group Annual Report 2009
ASX ANNOUNCEMENTS
Korab on ASX - 2010
Korab on ASX - 2009
Korab on ASX - 2008
Korab on ASX - 2007
Korab on ASX - 2006
Korab on ASX - 2005
LATEST ANALYSTS & BROKERS REPORTS (4)
Goldletter International (May 2010) new
Shortlist of Gold Investments Recommendations
Goldletter International (March 2010)
Korab Special Situation Report
ORGANIC PHOSPHATE
GEOLSEC BIO+
Organic phosphate rock fertiliser |
Organic farming is the fastest growing sector of the global economy. Its' resilience to economic slowdown has been proven recently when organic farming grew at 17% annual rate while the global economy went through the worst recession in decades. Australia is the largest organic producer globally with 12 million hectares under organic cultivation. This constitutes an excellent, long-term market growth opportunity for GEOLSEC's products.
Organic sorghum crop |
Korab's wholly owned subsidiary Geolsec Phosphate Operations P/L is looking to commence production of organic phosphate rock fertiliser in 2010 (1) to supply organic farmers and pastoralists with GEOLSEC's eco-friendly products. Our organic phosphate fertiliser is environmentally and nutritionally superior to chemical fertilisers and can be used on a wide variety of crops and pastures.
MAGNESIUM
BMW magnesium engine |
Magnesium is the metal of the 21st century. Stronger than steel yet lighter than aluminum. It is widely used in aerospace and military applications, steel making, super conducting materials, automotive sector and building and construction. Experts believe that the growing demand for lighter, fuel efficient vehicles, super conductors, steel, advanced alloys and eco-friendly building materials will ensure demand for magnesium continues to increase at historical rate of 7% pa.
Fire-resistant, high-strength magnesium building board. Stronger, lighter and cheaper than plasterboard |
Chinese Government has put lithium and magnesium on the list of strategic materials indicating the value it places on this advanced material. Korab's Winchester magnesium project is one of the highest grade magnesium deposits in the world grading on average 91% magnesite (MgCO3). It is located just 75 km south of the port of Darwin, right on the doorsteps of Asia. The project is serviced by excelled infrastructure including, rail, sealed highway, gas pipeline, high voltage power and potable water.
(1) Subject to receiving all permits and approvals.
(2) Subject to completion and commissioning of processing plant.
(3) This range should be viewed as an exploration target.
(4) Please note that by using links to access third party information you acknowledge that Korab Resources Ltd does not endorse the information or services which are provided by the owners or operators of these web sites.
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