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  • Korab Resources Edging Closer To Processing Of First Ore Shipment From Bobrikovo 0 comments
    Mar 30, 2014 6:09 PM

    Events could be looking up for Korab Resources (ASX:KOR) at its Bobrikovo gold and silver project in eastern Ukraine, commencing production from gold ore mined and stockpiled at the project.

    Under a likely toll treatment agreement, the stockpiled ore from Bobrikovo would be collected and sent for processing through a third party's plant and the gold extracted and sold with a share of cash flows generated by Korab at no outlay per se.

    First shipment of ore from the project located in eastern Ukraine is set to be collected by 31 March 2014 to process through a metallurgical plant.

    Stockpiled ore contains over 30,000 ounces of gold grading around 2.93 g/t gold which includes over 7,500 ounces at an impressive grade of 4.8g/t gold.

    The not insignificant stockpile of ore has been mined over the last four years by Korab.

    This development option could also have positive consequences on mode and timing of production from larger scale mining of the resource.

    There is no shortage of riches at Bobrikovo with 3.3 million ounces of gold and 16.3 million ounces of silver but it was always about unlocking the value of the project.

    There may now be a way. Which would be an inflexion point for the lightly capped circa $3 million company.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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