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Korab Resources Limited ( (AU:KOR) ) has issued an update.
Korab Resources has withdrawn an objection lodged by its subsidiaries Australian Copper Pty Ltd and Australian Copper Holdings Pty Ltd against Ashcroft Resources’ exploration licence application E08/3315, with all scheduled hearings vacated and the licence application now referred to the Mining Registrar for consideration, and no orders as to costs. An unrelated third party, which has been funding and conducting the proceedings, is in discussions with Korab to acquire its remaining interest in the Mt. Elephant Project, specifically Korab’s right to acquire exploration licence E08/3560 from Rheingold Investments Corporation Pty Ltd if it is granted, signalling a potential divestment of this Western Australian asset.
More about Korab Resources Limited
Korab Resources Ltd is an Australian mining and exploration company focused on its Rum Jungle Project in the Northern Territory, which hosts the Winchester magnesium deposit, Geolsec phosphate, and various gold, silver, base metal, rare earth and battery mineral prospects. The company’s shares trade on the Australian Securities Exchange under the code ASX: KOR, and it maintains a portfolio of multi-commodity exploration interests.
Average Trading Volume: 2,529,047
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$2.94M
See more insights into KOR stock on TipRanks’ Stock Analysis page.