Karora Resources

Financials:

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 doubling gold production to 200,000 ounces by 2024 compared to 2020 and reducing costs 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, expanding to a planned 2.5 Mtpa by 2024, which is fed at capacity from Karora’s underground Beta Hunt mine and Higginsville mines. At Beta Hunt, a robust gold Mineral Resource and Reserve is 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 1,800 square kilometers. The Company also owns the high grade Spargos Reward open pit project. 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$90M

Debt: CAD$30M

Major shareholders:
Eric Sprott – 9%
Invesco – 5.9%
Van Eck Associates – 5.3%
Stabilitas BmbH – 2.1%
Stabilitas GmbH – 2.1%
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 121 Mining Investment?

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

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