Karora Resources


Primary ticker: TSX:KRR
Stage of development: Production
Primary minerals: Gold
Project to promote: Integrated Western Australia Gold Operations
Project location: Western Australia
Website: www.karoraresources.com

Karora is focused on increasing gold production to a targeted range of 185,000-205,000 ounces by 2024 at its integrated Beta Hunt Gold Mine and Higginsville Gold Operations (“HGO”) in Western Australia. The Higginsville treatment facility is a low-cost 1.6 Mtpa processing plant, which is fed at capacity from Karora’s underground Beta Hunt mine and Higginsville mines. Karora recently acquired the 1.0 Mtpa Lakewood Mill in Western Australia. At Beta Hunt, a robust gold Mineral Resource and Reserve are hosted in multiple gold shears, with gold intersections along a 4 km strike length remaining open in multiple directions. HGO has a substantial Mineral gold Resource and Reserve and prospective land package totaling approximately 1,900 square kilometers. The Corporation also owns the high grade Spargos Reward project, which came into production in 2021. Karora has a strong Board and management team focused on delivering shareholder value and responsible mining, as demonstrated by Karora’s commitment to reducing emissions across its operations. Karora’s common shares trade on the TSX under the symbol KRR and also trade on the OTCQX market under the symbol KRRGF.

Cash: CAD$56M
Debt: CAD$40M

Major shareholders:
Eric Sprott – 9%
Van Eck Associates – 8.8%
Invesco Advisors – 6.1%
T. Rowe Price Associates – 5.2%
RBC Global Asset Management – 1.8%
Management Ownership – 2%

Management Profile

Oliver Turner  – Executive Vice President Corporate Development
Mr. Turner is the Executive Vice President, Corporate Development. He was formerly the Senior Vice President of Precious Metals Equity Research at GMP Securities for seven years following his experience in industy as a mining engineer with Wardrop Engineering. Mr. Turner holds a Bachelor of Science in Mining Engineering from Queen’s University and is a CFA charterholder.

What is your rationale for taking part in 121 Mining Investment?

On market support and awareness of organic growth plan to increase production to 200,000 oz annually by 2024.

What recent news would you like to highlight to investors attending?

Karora recently announced record gold production of 38,437 ounces for the third quarter of 2022
Positive results of nickel PEA for the Beta Hunt Mine announced in August supporting the growth trajectory of by-production nickel production.

What are your key goals in 3 months, 6 months, 12 months?

On track to complete second decline at the Beta Hunt Mine supporting continued growth in gold and by-product nickel production

What are the top 3 key investor takeaways?

– Self-funded organic growth plan to increase production to 200,000 oz annually at an
AISC of less than US$1,000 per ounce by 2024
– Phase capital program allow consistent free cash flow generation
– Significant exploration and resources development potential