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Akora Resources Ltd. ( (AU:AKO) ) has provided an update.
Akora Resources Ltd has successfully completed a placement and entitlement offer, raising over $2.9 million to fund the development of its Bekisopa Iron Ore Project in Madagascar. The project aims to produce 2 million tonnes per annum of high-grade iron ore for export, with plans to upgrade to a premium iron concentrate for greener steel production. The company’s efforts have received strong support from local communities and the government, positioning Akora as a significant player in the iron ore market with a focus on sustainable practices.
More about Akora Resources Ltd.
Akora Resources Ltd is a company focused on advancing its high-grade Direct Shipping Iron Ore (DSO) mine in Madagascar. The company targets the iron ore industry with plans to produce and export high-grade iron ore for steelmakers, supporting green steel initiatives with low carbon emissions.
Average Trading Volume: 119,737
Technical Sentiment Signal: Sell
Current Market Cap: A$14.74M
For a thorough assessment of AKO stock, go to TipRanks’ Stock Analysis page.