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Korab Resources Limited ( (AU:KOR) ) has shared an announcement.
Korab Resources Ltd announced that the Supreme Court has quashed the renewal decision for Mineral Leases MLN542 and MLN543 at the Rum Jungle Project due to an apprehension of bias. The decision arose from the involvement of the Delegate, who is also a complainant in a criminal proceeding against the director of the landowner, Vinnie Nominees. The renewal applications will be reassessed by the Department of Mines and Energy, and Korab will update the market once a determination is made.
More about Korab Resources Limited
Korab Resources Ltd is a mining and exploration company operating in Australia, primarily focusing on the Rum Jungle Project near Batchelor in the Northern Territory. The company explores a variety of minerals including magnesium, gold, silver, copper, cobalt, nickel, lithium, scandium, lead, zinc, tin, manganese, and uranium. Korab’s shares are traded on the Australian Securities Exchange (ASX).
Average Trading Volume: 2,529,047
Technical Sentiment Signal: Sell
Current Market Cap: A$2.94M
See more insights into KOR stock on TipRanks’ Stock Analysis page.