Company News

20.05.2013
Chilisai Phosphate Project Ore Reserve Update

Sunkar Resources plc (AIM: SKR) is pleased to announce an ore reserve update for the Chilisai Phosphate Project in Kazakhstan (the “Project”).

14.05.2013
Annual Report & Accounts and Notice of Annual General Meeting
Sunkar Resources plc (AIM:SKR) is pleased to announce that, following the publication of its Annual Report and Financial Statements for the year ended 31 December 2012 ("Annual Report & Accounts") yesterday, the Annual Report & Accounts are now available for download via the Company's website at www.sunkarresources.com.

13.05.2013
FINAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2012
HIGHLIGHTS IN 2012

· Balance of US$11.8 million received under the conditional subscription agreement with Sun Avenue Partners Corp ("SAPC").

· Loss of US$9.2 million (2011: US$10.1 million). Group net cash inflow in the year was US$0.3 million (2011: net cash outflow - US$1.5 million).

· ATF Bank Kazakhstan debt refinancing with new US$3 million credit line from AsiaCredit Bank (Kazakhstan); cost of borrowing reduced from 14% to 9.5% per annum.

· Commenced work on an approximately US$8.1 million earth moving contract with a general contractor building a new railway in Western Kazakhstan.

· Listing on the Kazakhstan Stock Exchange completed in December 2012.

   News Archive

03.05.2013
Earth Moving Contract Win

Sunkar Resources plc (AIM:SKR) is pleased to announce that its wholly owned subsidiary, Temir Service LLP (“Temir”), has signed a new earth moving contract with the general contractor building the Beineu - Tassai railway line in Western Kazakhstan.

The value of the contract is estimated to be approximately KZT 1.85 billion (US$12 million at current exchange rates). The Company expects to receive a pre-payment, amounting to 30% of the total contract value, within 20 business days from the contract date.

26.04.2013
MINERAL RESOURCE UPDATE COVERING 100% OF THE CHILISAI LICENCE AREA

Sunkar (AIM:SKR) is pleased to announce a mineral resource update, prepared by Wardell Armstrong International Limited ("WAI"), covering 100% of the Company's 836km² Chilisai licence area (the "Licence Area"). The Company had previously published a resource estimate in January 2010 and announced an ore reserve estimate in March 2011 covering 40% of the Licence Area.

28.02.2013
DETAILED FEASIBILITY STUDY

Sunkar (AIM: SKR) is pleased to announce that the Detailed Feasibility Study (the "Study") on its Chilisai Phosphate Project (the "Project"), compiled by SNC-Lavalin International, Inc. ("SNC-Lavalin"), has been completed. This is expected to form the foundation for a prospective project financing arrangement in due course. SNC-Lavalin believes that the Study is within a level of accuracy of +/-15% in respect of capital expenditure and operating costs.

Serik Utegen, Chief Executive of Sunkar, commented:
"The Study outlines robust economics for this major Project with attractive IRRs, drawing on Chilisai's natural advantages of low cost mining, proximity to sulphur and well established regional infrastructure, as well as attainable markets both locally in Kazakhstan and internationally to Western China and through Black Sea ports. The Study has identified no major technical hurdles with the Chilisai Project and we currently anticipate announcing the award of the basic engineering contract in the second half of this year, leading to Stage I production by the last quarter of 2016."

25.02.2013
Approval of Changes to the Subsoil Use Contract

Sunkar (AIM:SKR) is pleased to announce that the Ministry of Industry and New Technologies of the Republic of Kazakhstan (“MINT”) has approved changes to the Company’s mining plan and Work Programme commitments regarding the development of the Chilisai phosphate deposit. 

As announced on 29 May 2012 in the Company’s annual report, the Company has applied to the Government of Kazakhstan to have the mining commitments under its Subsoil Use Contract (“SUC”) amended.

13.02.2013
Conversion in full of SAPC's loan notes

Sunkar (AIM: SKR) announces that, further to the Company's announcement of 4 February 2013, there was nil take up under the specialised auction which was held earlier today in connection with the listing of 34,895,257 ordinary shares in Sunkar on the Kazakhstan Stock Exchange ("KASE").
Accordingly, following completion of the conversion of its convertible loan notes, Sun Avenue Partners Corporation is now interested in 174,476,283 ordinary shares of 0.1 pence each in the capital of the Company (the "Ordinary Shares") representing approximately 51.15 per cent. of the Company's issued share capital.
Application has been made to the London Stock Exchange for the 174,476,283 new Ordinary Shares to be admitted to trading on AIM ("Admission"). 

04.02.2013
National Bank of Kazakhstan permission obtained

Sunkar (AIM: SKR) is pleased to announce that the Committee for Control and Supervision over Financial Markets and Financial Organizations of the National Bank of the Republic of Kazakhstan has granted permission for the issue of, in aggregate, 174,476,283 new ordinary shares of 0.1 pence each in the capital of the Company (the "New Shares") to Sun Avenue Partners Corporation ("SAPC").

04.01.2013
OPERATIONS UPDATE JAN 2013

AsiaCredit Bank, a commercial bank registered in Kazakhstan, has approved a credit line (the "Loan") for the Company's wholly owned subsidiary, Temir Service LLP ("Temir"). ACB's Loan provides up to USD 3.0 million in debt financing for a term of up to 3 years. The Loan bears interest at a rate of 9.5 per cent. per annum, payable monthly, during the term of the Loan.