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Akora Resources Ltd. ( (AU:AKO) ) has issued an update.
AKORA Resources Limited has submitted an application to convert its Bekisopa Iron Ore Project Exploration Licence into a Mining Licence, marking a significant advancement for the project. This move aligns with Madagascar’s new mining code and follows recent political changes that have created a more supportive business environment. The project, which has completed all necessary pre-requisites including a comprehensive Pre-Feasibility Study, is expected to contribute significantly to Madagascar’s economy. The granting of the mining licence would unlock the development pathway for the project, enhancing investor confidence and potentially leading to a larger iron concentrate operation.
More about Akora Resources Ltd.
AKORA Resources Limited is a company operating in the mining industry, primarily focused on iron ore projects. Its flagship project is the high-grade Bekisopa Direct Shipping Ore (DSO) Iron Ore Project located in south-central Madagascar. The company aims to progress from a DSO project to a high-grade iron ore concentrate operation, with an exploration target of 500 million to 1 billion tonnes.
Average Trading Volume: 180,377
Technical Sentiment Signal: Sell
Current Market Cap: A$14.05M
See more data about AKO stock on TipRanks’ Stock Analysis page.