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