AKORA Resources moves closer to production at Bekisopa
November 15, 2023 at 01:01 pm EST
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AKORA Resources Ltd (ASX:AKO) CEO Paul Bibby tells Proactive the company is moving closer to production at its Bekisopa Iron Ore Project in Madagascar, following a promising scoping study. The study indicates the project's capacity to initially produce two million tonnes per year of high-grade direct shipping ore (DSO), with a 64% high-grade iron product in the first year and an average of 61% iron over the initial five years. Over that time, estimated revenue will be US$545 million. This study, prepared by Wardell Armstrong International, focused on a low capex option utilising Bekisopa’s DSO JORC indicated resource of 4.4 million tonnes hosted in the project’s southern zone.
“Bekisopa‘s 5.5 million tonnes of indicated and inferred DSO resource from just the southern zone of the project is sufficient to deliver robust project economics from a conservative mining and processing production ramp-up, paying back the start-up capital in two years," Bibby said.
"Notably, this is just the starting position after only three years in the field. More drilling ahead will define additional resources.”
Contact Details
Proactive Investors
Jonathan Jackson
+61 413 713 744
jonathan@proactiveinvestors.com
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Akora Resources Limited is an Australia-based exploration company. The Company is engaged in the exploration and development of the Bekisopa, Satrokala, Tratramarina and Ambodilafa Projects, all iron ore prospects in Madagascar. It holds some 308 square kilometers (km2) of tenements across these three prospective exploration areas. Bekisopa Iron Ore Project is a high-grade iron ore project with a six kilometers (km) strike length and an Inferred Resource of 194.7 million tons. The Bekisopa project consists of three granted research permits (PRs) and one granted small scale mining permit covering 93.5 km2 and located approximately 220 km from the west coast. The Tratramarina Project is located only 16 km from the ocean with a potential port/transhipping location south of Mahanoro near the mouth of the Mangoro River. The Ambodilafa Project is located approximately 45 km from the coastal town of Nosy Varika and 75 km southwest of Mahanoro, which is a natural transshipping port location.