Company News
20.01.2012Approval of Fundraising and Notice of General Meeting
For more detailed information please visit www.sunkarresources.com/en/pages/circulars
23.12.2011Fundraising of up to US$12.8m
The board of directors (the "Board") of Sunkar (AIM: SKR) announces that the Company has entered into a conditional subscription agreement (the "Subscription Agreement") with Sun Avenue Partners Corp, an investment and trading company registered in the British Virgin Islands ("SAPC"), for the subscription by SAPC in two tranches of up to US$12.8 million of convertible loan notes (the "Investment"). The Investment values each Ordinary Share at approximately 4.7 pence.
19.07.2011Technology Tests Update
Sunkar Resources plc (AIM:SKR) is pleased to announce an update on its phosphoric acid and phosphate fertilizer technology tests.
• Full international specification DAP and MAP can be produced from Chilisai rock – two independent acid treatment technologies have been evaluated at the pilot scale and the test results are positive and consistent with earlier laboratory and bench-scale tests
• The phosphoric acid production process has been consistently confirmed on the representative rock sample obtained across the total resource base area
Phosphoric Acid Pilot Plant Confirmation Tests
Sunkar’s phosphoric acid process engineer for the Chilisai project, Prayon Technologies SA (“Prayon”), has run a series of pilot plant tests using representative rock samples from across the total resource base area. The consistency of the phosphoric acid process selected for the Chilisai phosphate has been re-confirmed.
Prayon will use the pilot plant test results to adjust the final phosphoric acid plant design. This will be incorporated into the Final Feasibility Study report.
01.07.2011Project Operations Update
Sunkar Resources plc (AIM:SKR) is pleased to present an update on its ongoing dicussions with potential strategic partners on the Chilisai Phosphate Project and Direct Application Rock ("DAR" or "phosphate flour") sales.
Strategic Partner discussions
The Company is in discussions with several potential strategic partners for the Project in parallel with developing the Feasibility Study for the Chilisai project.
Interested parties are undertaking due diligence, with access to the full Preliminary Feasibility Study Report, and technical and geological information. A number of the parties have already completed site visits. Amongst those parties conducting due diligence, are well established fertilizer market operators as well as non-industry specific parties.
26.05.2011Result of AGM
At the Company's Annual General Meeting held today, each of the resolutions set out in the Notice of the Meeting were duly passed. Proxy results together with the result of the poll can be found on the Company's website.
20.04.2011FINAL RESULTS FOR THE YEAR TO 31 DECEMBER 2010
Sunkar Resources plc (AIM:SKR) is pleased to announce its results for the year ended 31 December 2010. A full version of the Report & Accounts will be available on the Company's website www.sunkarresources.com on or around 20 April 2011.
The Company anticipates sending to shareholders the Annual Report and Financial Statements for the year ended 31 December 2010, together with the Notice of Annual General Meeting ("AGM") to be held at the offices of Maclay Murray & Spens LLP, 12th Floor, One London Wall, EC2Y 5AB on 26 May 2011 at 11.00am and the form of proxy for the AGM on or around 28 April 2011.
Copies of these documents will be available free of charge from the Company's Registered Office at 29-30 St. James Street, London, SW1A 1HB for a period of at least one month, and on the Company's website at www.sunkarresources.com.
13.04.2011Holding(s) in Company
Sunkar Resources plc (AIM:SKR) confirms that it has on 12 April 2011 received notification from Esemplia Emerging Markets, a Legg Mason company (“Esemplia”), that on 22 March 2011, Esemplia’s interest in voting rights attached to ordinary shares in the Company increased from 6,301,291 to 7,301,291, passing through the 4% threshold.
07.04.2011First Direct Application Rock Sales and Update on Milling Operations
Sunkar Resources plc (AIM:SKR) is pleased to present an update on its milling operations and report its first revenues from Direct Application Rock (“DAR” or “phosphate flour”) sales.
Direct Application Rock Sales
The Company has completed its first commercial sale of DAR. The sale is to a Russian farming company and although a small quantity, the shipment marks another milestone in the progress of Sunkar as a developing phosphate fertilizer company.
Talks with agriculture buyers on further shipments are being carried out after new domestic fertilizer subsidy regulations were recently issued by the Kazakhstan Government.
28.03.2011Chilisai Phosphate Project First Ore Reserve Estimate
Sunkar Resources plc (AIM: SKR) is pleased to announce its first ore reserve estimate for its Chilisai Phosphate Project in North West Kazakhstan.
The ore reserve estimate has been prepared by Wardell Armstrong International Limited (“WAI”) in accordance with the guidelines of the Australasian Code for Reporting Exploration Results, Mineral Reserves and Ore Reserves, 2004 (“JORC”).
The reserve estimate covers 40% of the Licence Area and is based on the digitised data for that part of the deposit only. This is the area closest to the proposed fertiliser plant site and for which a resource estimate was published in January 2010.
22.03.2011Planned Industrial Scale Test
Sunkar Resources plc (AIM:SKR) announces that the Company, its subsidiary, Temir Service LLP ("Temir"), and Open Joint Stock Company "Meleuzovskie Mineralnye Udobreniya" ("MMU") intend to test the conversion of Chilisai phosphorite concentrate into phosphoric acid and subsequently the production of compound fertilizers on an industrial scale.
Sunkar and MMU plan to run the test before the end of H1 2011. The test is expected to consume more than 5 thousand tonnes of Chilisai phosphorite concentrate which will be shipped to MMU on commercial terms.
The primary objective of the test is the production of phosphoric acid using the main phosphoric acid production unit of MMU. One of the target compound fertilizers will be mono-ammonium phosphate (MAP).
Subject to the success of the test, Temir and MMU's main shareholder - OJSC Gazprom Neftekhim Salavat - would consider a commercial arrangement for the supply of Chilisai rock to MMU.