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Karora Resources Inc T.KRR

Alternate Symbol(s):  KRRGF

Karora Resources Inc. is a Canada-based multi-asset mineral resource company. The Company’s portfolio includes the Beta Hunt Underground Mine, Higginsville Gold Operations and Lakewood Mill. It owns 100% of Beta Hunt, a gold-producing mine located approximately 600 kilometers from Perth in Kambalda, Western Australia. It owns and operates HGO, which is located approximately 75 kilometers south of the Beta Hunt Mine in Higginsville, Western Australia. HGO has a mineral gold resource and reserve and prospective land package totaling approximately 1,900 square kilometers. The operation includes a 1.6 million tons per annum (Mtpa) processing plant, 192 mining tenements, including the Aquarius, Hidden Secret, Mousehollow, Two Boys, Baloo, Pioneer, Fairplay North, Mitchell, Wills, Challenge and Mount Henry deposits. The Lakewood Gold Mill is located just outside Kalgoorlie, Western Australia and approximately 60 kilometers from the Beta Hunt Mine, has a processing capacity of 1.0 Mtpa.


TSX:KRR - Post by User

Post by Farquaron Jun 10, 2022 9:57pm
375 Views
Post# 34748797

The second ramp is ahead of schedule

The second ramp is ahead of scheduleSo this 2nd ramp was started in late December or early January and should be completed by end of March 2023....The initial estimate on the cost of building it was about 40-45 million$cdn...All indications are that the costs are still within the budget...but assuming that it will end up costing 45 mil, you can say the average cost is about 3 million$ per month (45 divided by 15 months = 3 million/month)..So assuming this is true, they are 6 months into it now , so 6 x 3 million $ = 18 million$ already spent on the project up till now, meaning they still have about 27 million$ left to pay for the completion of it...So, this second ramp is getting to the point of being less and less risky in terms of having the funds to pay for it...27 million$ is peanuts for them ...On a side note, I wonder if Krr management is considering buying out Focus minerals just 45 kms north of them...It has a market cap of about 45 million$ cdn with 2 mills in need of some upgrades..The closest mill is just up the highway northwest of Spargos..Focus minerals is supposedly to spend about 25 million$ to refurbish the closest mill which I believe is in the 1.2million ton/yr range or in that ballpark to be ready for early 2023..I think Focus has the cash to do it but it remains to be seen if they can accomplish all that and get it done without any delays or over-costs etc.etc.Anyways, Krr does not need the milling capacity just yet, but will be interesting if they do pick up that company sometime later on down the road...btw, Focus minerals' second mill is about 250 kms north of Krr...I am curious to know how much the current owners of Lakewood mill have spent on their mill for upgrades etc. Huet mentioned they have a new "ball mill" (whatever that is, lol) that once commisioned will increase the lakewood mill from 1 million tons to 1.2 million tons/yr...It sounds like the current owners have been sinking a lot of money into keeping the mill in tip top shape...What is very good news about the Lakewood mill also is that it is returning a 94% recovery rate on Krr's gold ore.... KRR has a very bright future....
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