AKORA Resources (ASX:AKO)

Company Profile

AKORA Resources Ltd (ASX: AKO) is an Australian resources company focused on the development of four high-grade iron ore projects in Madagascar.

The Company’s flagship Bekisopa Iron Ore Project has a 194.7 million tonne (Mt) Inferred JORC Resource with very low impurities able to produce a premium-priced +68% Fe concentrate. Direct Reduced Iron-Electric Arc Furnace (DRI-EAF) technology which is used to make greener steel without coal and considerably less carbon emissions requires iron ore grades of at least 67%.

To generate cash in the near-term, AKORA is advancing plans at Bekisopa to produce up to 2Mt per annum over the first five years of a 60% Fe average grade direct shipping ore (DSO) for shipping to Blast Furnace-Basic Oxygen Furnace steelmakers.

KEY PEOPLE

Paul Bibby - Managing director

Paul Bibby - Managing director

A metallurgist with over 35 years’ experience across the mining and metals industry. Spent 23 years with Rio Tinto in various operational, technological and business development roles. Appointed Chief Executive Officer of OceanaGold Corporation in 2009 and was instrumental in its equity raising activities in Europe and North America to improve its balance sheet and advance gold projects.

CEO role at ASX listed junior exploration and mining companies. As MD of AKORA listed the company in December 2020 then managed drilling campaigns, maiden mineral resource estimate and Scoping Study.

Graeme Hunt - Non-executive chairman

Graeme Hunt - Non-executive chairman

Spent 34 years with Australian mining major BHP performing General Manager roles before serving as President Iron Ore between 1999 and 2005. Was Managing Director and Chief Executive Officer at Lihir Gold Ltd during which time he managed the company’s takeover by Newcrest Mining for A$9.5 billion.

More recently he has held MD and CEO positions with Broadspectrum and AGL Energy. Management expertise spans steel production, exploration, mining, logistics and port operations across Australia, South America, PNG and West and Southern Africa.

Matthew Gill - Non-executive director

Matthew Gill - Non-executive director

A mining engineer with over 40 years’ experience. Held various key roles in both national and international jurisdictions for organisations such as Rio Tinto, Castlemaine Goldfields, WMC, Placer Pacific, Renison Goldfields and Singapore-listed LionGold Corp.

Overseen the completion of several Maiden Resource Estimates, has successfully led Pre-Feasibility Studies and Feasibility Studies and has been instrumental in the project development, establishment and operation of four mines, in Australia and internationally.

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