The Company is a public company limited by shares, incorporated in Australia and registered in Victoria under the provisions of the Corporations Act on 6 October 2009, with the name Akora Resources Limited (Formally Indian Pacific Resources Limited) and ACN 139 847 555. The Company is domiciled in Australia.
The Company is an exploration company engaged in the exploration and development of the Bekisopa Project, the Satrokala Project, the Tratramarina Project and the Ambodilafa Project, iron ore projects in Madagascar. In all we hold some 308 km2 of tenements across these prospective exploration areas, with each project being covered by several separate tenements. There are numerous prospective tenement areas at each project location that show distinct anomalies that warrant further exploration evaluation.
The Company’s flagship Bekisopa Iron Ore Project has a 194.7 million tonne (mt) Inferred JORC Resource with very low impurities able to produce a premium-priced +68% Fe concentrate. Direct Reduced Iron-Electric Arc Furnace (DRI-EAF) technology which is used to make greener steel without coal and considerably less carbon emissions requires iron ore grades of at least 67%.
To generate cash in the near-term, AKORA is advancing plans at Bekisopa to produce up to 2Mt per annum over the first five years of a 60% Fe average grade direct shipping ore (DSO) for shipping to Blast Furnace-Basic Oxygen Furnace (BF-BOF) steelmakers.
Date
Event
October 2009
The Company is incorporated in Australia and registered in Victoria under the provisions of the Corporations Act as a public company limited by shares.
February 2011
Acquisition of 100 per cent of Malagasy Holdings (Tratramarina) Pty Ltd from NGM Resources Limited. Through Malagasy Holdings (Tratramarina) Pty Ltd and its controlled entities, IPR holds the Tratramarina Permits.
August 2012
The Company entered into a farm-in agreement with Jubilee to enable the Company to explore for commodities under the Ambodilafa Permits.
June 2014
Malagasy Holdings (Bekisopa) Limited acquired 75 percent of IOCM, the holder of the Bekisopa Permits from Cline.
March 2015 to July 2019
AKORA restructured the company and placed the company on a care and maintenance footing while reviewing and translating all the available historical geological work results to prepare the company for a capital raising to progress its main project Bekisopa.
October 2019
Extensive geological mapping and a ground magnetic survey at Bekisopa confirmed a 7 km north south strike length in the main tenements and showed the orebody dips to the west to at least depths of 500 meters. Along strike are layers of massive high grade magnetite-hematite with the adjacent host rock containing relatively coarse magnetite mineralistaion. An exploration target of for the high grade massive iron ore of ~100Mt to 100 meters and 500 to 1000 Mt for the high grade ore layers and the intervening coarse disseminated magnetite country rock.
July 2020
AKORA finalized acquisition of the remaining 25% of Bekisopa held by Cline Mining so going forward AKORA will hold100% of the Bekisopa suite of tenements once finalisation of the transfer documents is completed.
+61 (0) 419 449 833
12 Anderson Street, West Ballarat
Victoria, Australia 3350
PO Box 28, Ballarat
Victoria, Australia 3353
ACN 139 847 555