Appointment of Consultant
30.03.2010Sunkar Resources plc (AIM:SKR) is pleased to announce the appointment of SNC-Lavalin ("SNCL") to prepare a Bankable Feasibility Study ("BFS") on Sunkar's wholly owned Chilisai Phosphate Project in Kazakhstan for ammoniated phosphate fertilizer production (the "Project").
Further to the announcement made on 10 March 2010, Sunkar has now signed a consultancy agreement with SNCL to produce the BFS. The BFS will cover areas such as capital expenditure, operating costs, technical process evaluation, marketing, environmental and social impact, and geological and resource evaluation.
The Company expects that the preliminary results from the BFS will be available in H2 2010, with the final results of the BFS being available in H1 2011.
Serikjan Utegen, CEO of Sunkar, commented:
"SNC-Lavalin is world renowned in the fertilizer industry and we are delighted to announce them as our consultants to prepare the Bankable Feasibility Study. We look forward to completing this report for our longer term plan to build an integrated ammoniated phosphate plant."
For further information please contact:
Sunkar Resources plc
Serikjan Utegen, CEO Tel: +44 20 7930 8678
Donald Sinclair, CFO
Canaccord Adams Limited
Andrew Chubb Tel: +44 20 7050 6500
Bhavesh Patel
GMP Securities Europe LLP
James Cassley Tel: +44 20 7647 2800
Bankside Consultants
Simon Rothschild Tel: +44 20 7367 8888
Louise Mason