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The latest update is out from Korab Resources Limited ( (AU:KOR) ).
Korab Resources Ltd has announced the sale of its Ukrainian subsidiary, Donetsky Kryazh, which holds the Bobrikovo gold and silver project, to IRTIS, a subsidiary of SLAVUTYCH-INVEST. The transaction, completed for a cash amount of A$51,000 and a royalty agreement, will allow Korab to retire debt and fund exploration and development at its Rum Jungle Project. This strategic divestment is expected to streamline Korab’s operations and focus on its core assets, without impacting its board or requiring new securities issuance.
More about Korab Resources Limited
Korab Resources Ltd is an Australian mining and exploration company with a focus on the Rum Jungle Project in the Northern Territory of Australia. The project includes the Winchester Magnesium Deposit and various other mineral discoveries such as gold, silver, copper, cobalt, nickel, lithium, and more. The company’s shares are listed on the Australian Securities Exchange (ASX).
Average Trading Volume: 2,529,047
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$2.94M
See more data about KOR stock on TipRanks’ Stock Analysis page.