FINAL RESULTS FOR THE YEAR TO 31 DECEMBER 2010

   20.04.2011

SUNKAR RESOURCES PLC

("Sunkar" or the "Company")
 

FINAL 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.


 Highlights 

  • Appointment of SNC-Lavalin to complete a feasibility study
  • Successful renegotiation of commitments under the Subsoil Use Contract
  • Mining operations have been optimised and easily met the required ore extraction obligations of one million tonnes per annum
  • Further beneficiation process development continued, achieving sustained rates of production of a consistent grade of concentrate, confirming the simple dry crushing and screening concept as envisaged at IPO
  • Construction of a milling and rail-loading complex to produce and dispatch phosphate "flour"
  • Full compliance with the amended Subsoil Use Contract for 2010
  • Appointment of UniCredit as financial advisor for both strategic equity and project finance
  • Secured a $15 million credit line from ATF Bank in Kazakhstan
  • £10 million equity line finance agreement in place for working capital requirements

 

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.

 


For further information please contact:

 

Sunkar Resources plc

Serikjan Utegen, CEO                                           Tel: +44 20 7930 8678
Donald Sinclair, CFO

 

Ambrian Partners Limited

Richard Swindells                                                Tel: +44 20 7634 4700
Matt Einhorn

 

Bankside Consultants

Simon Rothschild                                                 Tel: +44 20 7367 8888
Louise Mason

 


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