Akora Resources Ltd.
AASX:AKO0.08
AUD
+0.00
(+2.63%)
Akora Resources Ltd.
ASX:AKO
(Australian Securities Exchange)
Recent
price
0.08
P/E
ratio
- -
div
yld
- -
ROIC.AI
Capital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Semi-annual Revenue
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in mil. unless spec.Semi-annual Earnings Per Share
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in mil. unless spec.- Similar Companies
- Business
- Akora Resources Limited (ASX: AKO) engages in the exploration, evaluation and development of iron ore projects in Madagascar, including its flagship Bekisopa Iron Ore Project with a 194.7 million tonne inferred JORC resource capable of producing premium-priced +68% Fe concentrate suitable for direct reduced iron-electric arc furnace steelmaking; the Satrokala Project; the Tratramarina Project; and the Ambodilafa Project, across 308 square kilometres of tenements. The company, founded in 2009 and headquartered in Ballarat, Australia, holds 100% ownership of the Bekisopa tenements following its 2020 acquisition of the remaining 25% interest from Cline Mining and changed its name from Indian Pacific Resources Limited in September 2020. It advances near-term plans at Bekisopa for up to 2 million tonnes per annum of 60% Fe average grade direct shipping ore over the first five years to generate cash flow for blast furnace-basic oxygen furnace steelmakers, while targeting longer-term high-grade production with low impurities. Recent developments include a November 2024 placement raising A$600,000 to accelerate pre-feasibility study work, environmental and social impact assessments, land access and haul road route determinations ahead of a first-quarter 2025 pre-feasibility study release; an August 2025 capital raise of approximately A$2.91 million via placement and entitlement offer to fund a definitive feasibility study, environmental impact assessment and mining licence progress at Bekisopa; and an April 2024 capital raising supported by major shareholder Futureworld Management committing A$1.5 million, alongside non-binding indicative offers from strategic investors and planned site visits. Operations span Australia and Madagascar, with ongoing engagement with the Madagascan mining minister and completed geotechnical and hydrological drilling at Bekisopa.