Korab Resources Extends Geolsec Mineral Lease Sale Agreement with Enhanced Royalties

Korab Resources Limited ( (AU:KOR) ) has issued an announcement.

Korab Resources Ltd has announced an update on the sale of its Geolsec mineral lease ML27362 to Leka II Shipping Limited. The completion date for the transaction has been extended to November 30, 2025, with an increase in the net smelter royalty rates for minerals other than uranium and thorium from 10% to 15%, and for uranium and thorium from 1% to 1.5%. This adjustment reflects a strategic decision to enhance the financial returns from the sale, potentially impacting Korab’s revenue streams and market positioning.

More about Korab Resources Limited

Korab Resources Ltd is an Australian mining and exploration company with projects in the Northern Territory and Western Australia. The company focuses on a diverse range of minerals including magnesium, gold, silver, copper, cobalt, nickel, lithium, and uranium, among others. Its key projects include the Rum Jungle Project, which features the Winchester Magnesium Deposit and Sundance Gold Mine.

Average Trading Volume: 2,529,047

Technical Sentiment Signal: Sell

Current Market Cap: A$2.94M

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