Sunkar Resources plc was incorporated in England on 28 March 2006 with the registration number 05759399 and listed on London’s AIM Market in June 2008. The Company principally operates in Kazakhstan. We aim to be an integrated phosphate fertiliser manufacturer. The Company has a 100% interest in Temir-Service LLP ("Temir Service"), a limited liability partnership established under the laws of the Republic of Kazakhstan. Temir Service holds the Subsoil Use Contract for the Chilisai phosphorite deposit in NW Kazakhstan.
The Chilisai deposit is one of the largest known phosphorite deposits in the Former Soviet Union with a resource of some 800 million tonnes of ore at 10% P2O5. Ore lies in a flat, horizontal, 1m (average) thin ore body, underlying 3m (average) shallow overburden with footprint exceeding 800 sq km. The Competent Persons Report (CPR) set out in the admission document indicates that the resources within the Licence Area are sufficient for a 56 year mine life, with a mining rate of 10 million tonnes per year.
The project is located 500 km from the source of low cost sulphur recovered from the North Caspian oil and gas operations. This source is connected with the project by rail road. The project benefits from extensive existing infrastructure, developed railroad network and labor pool that were inherited from the Soviet era. A 220KV power line, railroad and natural gas pipeline cross the Licence area of the Company.
Sunkar is well positioned in proximity to China, which is the main target market of the project (railroad tariff of the Kazakh National railroad operator is $21 per tonne from the deposit to the western China border). The Company intends to use part of the future output to supply captive local markets in Russia and Kazakhstan which are both World top-10 grain producers. Due to high reserves of the deposit and access to low cost sulphur the Company believes that the highest value added opportunity lies in developing an integrated phosphate fertiliser manufacturing facility at the deposit site. This facility will have one of the lowest extraction costs per unit of P2O5 in the World.
The Group has completed a “bankable” feasibility study ("BFS") conducted by SNC - Lavalin, one of the leading engineering and construction groups in the world, in order to raise finance to build integrated fertiliser complex ("Complex"). The first results of BFS were issued in February 2011 in the Preliminary Information Memorandum. Final results of BFS were delivered in February 2013. The BFS includes the economic model of the Complex and a comprehensive marketing study for future sales of mono-ammonium phosphate (MAP), di-ammonium phosphate (DAP) and phosphoric acid.
Board of Directors
|Teck Soon Kong, Non-Executive Chairman||Serikjan Utegen, Chief Executive Officer|
|Teck Soon Kong was appointed as a Non-Executive Director of the Company on 23 October 2006 and is a chemical engineer with more than 43 years of experience in the international oil & gas industry, mainly in various senior roles with Shell across the globe. He is currently an independent director of Sterling Resources Limited, which is listed on the Toronto Stock Exchange, an independent director of Petrokamchatka Resources Limited and a Trustee of Harapan, a UK registered charity.||Serikjan Utegen was appointed as Chief Executive Officer of the Company on 23 October 2006. He has previously held the positions of Director of Operations and then President for KKM Holdings JSC developing three oil fields in Western Kazakhstan and has experience in the management of exploration, financing and corporate development. He has worked for a range of Kazakhstan oil companies, including the position of Head of the Transportation Department of KazTransOil National Oil Pipeline Utility of Kazakhstan.|
|Charles de Chezelles, Non-Executive Director||Nurdin Damitov, Director, Corporate Affairs|
Charles de Chezelles was appointed as a Non-Executive director of the Company on 23 October 2006 and has spent most of his career in the financial industry in the US and Europe. He is currently Managing Director of Omega Trust Company Limited (London) and Damerin Limited (London).
|Nurdin Damitov was appointed as Director, Corporate Affairs on 9 May 2008 and has been involved in various oil, gas and mineral consulting activities and IPOs. He has extensive experience of banking and finance from his time as a Director of PriceWaterhouseCoopers (Kazakhstan), as a Managing Director of Halyk Bank of Kazakhstan and through his work in the Government of Kazakhstan as a Director of State Investment Committee of the Republic of Kazakhstan and Assistant Chairman of the National Securities Commission of the Republic of Kazakhstan. Nurdin holds a law degree from Columbia University, New York and Kazakh State University Law School.|