Korab Resources Ltd is a diversified battery and precious metals mining and exploration company listed on Australian Securities Exchange (ASX code is KOR). Korab Group owns magnesium, phosphate, and gold/silver deposits at the development-stage which are located in Australia and overseas. In addition to these deposits, Korab also owns exploration projects in the Northern Territory and Western Australia where Korab Group has discovered scandium, cobalt, copper, nickel, gold, silver, manganese, zinc, lithium, REE, palladium and platinum.
Winchester magnesium deposit is 100% owned and operated by AUSMAG PTY LTD which is a wholly owned subsidiary of Korab Resources.
Winchester is one of the best located magnesium deposits in the world. It is located near a major highway an hour's drive from Darwin Port. In March 2022, Korab Group released results of the study into production of high purity magnesium metal at a rate of 50,000 tonnes per year for 14 years. The study shows that Korab's Winchester project has an NPV of approximately $1Billion. The study relied on actual data obtained from operation of the demonstration plant successfully commissioned to produce magnesium metal from Winchester deposit. Korab Group recently signed MoU with Darwin Port to export 30,000 tonnes per year of magnesium metal, 500,000 tonnes per year of various magnesium oxides and 2,000,000 tonnes per year of direct shipping magnesite ore.
Winchester has a mineral resource estimated at ~17 million tonnes of magnesite grading ~91% MgCO3 (43.2% MgO). This mineral resource estimate has been reported in compliance with the JORC Code (2004 edition). Additional magnesium mineralisation extends for several kilometers to the east and north east from the Winchester deposit with magnesium grades up to 99% MgCO3 (47.34% MgO).
Project is serviced by excelled infrastructure including, rail, sealed highway, gas pipeline, high voltage power, two solar farms, and potable water. Magnesite is currently used primarily for production of:
Magnesium metal and aluminium/magnesium alloys which are extensively used in automotive and aerospace sectors to reduce weight and increase strength of car bodies, engines, and other key parts indispensable in modern vehicles (including EVs);
Magnesium oxides which are used in production of refractory linings necessary for production of steel, cement, and glass;
Magnesiumdiboride high temperature super-conductors which are used to dramatically reduce the size and increase the power output of newest generation of wind turbines, to eliminate energy loss in renewable energy transmission power lines, and to create super-magnets for powerful yet compact electric motors;
Magnesium compounds which are used in high-capacity, fast-charging, rechargeable magnesium-ion batteries. Commercialization of this new type of magnesium batteries is expected within 2 years. These batteries have achieved 5 times the volumetric energy capacity of the lithium-ion batteries and can be discharged and recharged up to 2,500 times. The primary markets for these new magnesium-ion batteries are the electric vehicle (EV) markets in the US, EU, China, and India.
Geolsec Phosphate Operations Pty Ltd (a wholly owned subsidiary of Korab Resources) is the 100% owner and operator of the Geolsec phosphate mine located an hour's drive from Darwin in the Northern Territory. Geolsec phosphate rock assemblage is associated with rare earth elements enrichment and the elemental ratios are closely resembling the REE element ratios of the Nolans Bore project held by Arafura. Geolsec project has some of the best logistics and basic infrastructure of any rock phosphate project in Australia. Korab Group is currently leasing the phosphate rights to a third party for a monthly fee and a royalty which is a welcome cash income for Korab Group.
Geolsec phosphate mine...
Sundance Gold Mine is located near Winchester Magnesium project. It is 100% owned by Korab Resources. It produced gold at a head grade of over 10 g/t Au. There are several large stockpiles of gold ore located on the two mining leases next to two open pits (Sundance 1 and Sundance 2). Samples collected from these stockpiles assayed over 14g/t Au. Gold ore stockpiles are amenable to gravity processing. They can also be toll treated at the third party gold plants located within driving distance from the Sundance Gold Mine
Batchelor and Green Alligator Projects
Batchelor and Green Alligator Projects are 100% owned and operated by Korab Resources. They are located in the Rum Jungle Mineral Field in the Pine Creek orogen of the Northern Territory, 70 km south of Darwin. Batchelor and Green Alligator Projects contain several rare earth oxides, lithium, other battery metals and precious metals discoveries and prospects. These discoveries include scandium, gold, cobalt, copper, silver, lead, zinc, manganese, nickel, palladium, platinum, lithium, and REE discovered as a result of various drilling and other exploration programs conducted by Korab Resources over the years. These discoveries, are very encouraging and warrant further exploration. Korab intends to continue further exploration of these discoveries in parallel with the development work on the Winchester magnesium deposit and Sundance Gold Mine. (click here for diagram)
Mt Elephant Project
Mt Elephant (100% owned and operated by Korab Group) is an early stage exploration project consisting of two granted exploration licences held by Australian Copper (a wholly owned subsidiary of Korab Resources), two granted exploration licences held by Australian Copper Holdings (a wholly owned subsidiary of Australian Copper) and three exploration licence applications held by Korab Resources. The primary focus of the project is copper and gold. It is located south of Paraburdoo in the Ashburton Mineral field in Western Australia.
Bobrikovo (Gold & Silver)
Bobrikovo gold, silver, lead, zinc, and antimony project is 100% owned and operated by Donetsky Kryazh LLC which is a wholly owned subsidiary of Korab Group. Bobrikovo contains 3.3 million ounces of gold and 16.3 million ounces of silver in JORC (2004 edition) compliant resource. To read more about the Bobrikovo Project please go to the Bobrikovo page by clicking on this link. The project is located in the Donbas region, Lugansk province in Eastern Ukraine.
Korab Resources encourages communication between the Company and its shareholders and other investors. You can email the Company at: firstname.lastname@example.org For reference please provide your name and telephone number.
REPORTS AND NOTICES
YOUR SHAREHOLDING AND COMMUNICATION OPTIONS
Korab is focused on reducing our carbon footprint whilst providing you with timely corporate updates and disclosures.
Legislative changes made to the Corporations Act 2001 (Cth) effective from 1 April 2022 mean there are new options for how Korab shareholders receive communications. Korab will no longer send physical meeting documents unless a shareholder requests a copy to be mailed.
To review or update your current communication preference, simply log on to our share registry’s website (Link Investor Centre) with your portfolio login details or your Shareholder Reference Number (SRN) or Holder Identification Number (HIN), and select the Communications tab at the top of the page.
Shareholders can use the Link Investor Centre to:
- Set up and add their holdings to a portfolio
- Review and update their contact details, communication preferences and payment instructions
- Provide their TFN and/or ABN
- View their holding details
- Make online enquiries
If at any time you require an additional copy of a communication, or you need more information about the options available to you, please contact us on email@example.com
Electronic communication has the added advantage of being timelier and more cost effective, which benefits all shareholders, and Korab encourages all shareholders to provide an email address so we can communicate with you electronically when shareholder notices become available online, for items such as meeting documents, annual reports, and others.
Shareholders can still elect to receive some or all of their communications in physical or electronic form. To review your communication preference, or sign up to receive your shareholder communications via email, please update your details at the Link Investor Centre
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