Toronto:KRR

Karora Announces Results of Annual and Special Meeting of Shareholders

Retrieved on: 
Thursday, June 16, 2022
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The resolution to approve Karora's Share Incentive Plan and the unallocated entitlements thereunder was approved by 90.10% of the votes cast on the resolution.

Key Points: 
  • The resolution to approve Karora's Share Incentive Plan and the unallocated entitlements thereunder was approved by 90.10% of the votes cast on the resolution.
  • 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 announced the proposed acquisition of the Lakewood Mill in Western Australia which will initially add 1.0 Mtpa capacity.

Karora Resources Closes Oversubscribed $69 Million Bought Deal Financing

Retrieved on: 
Wednesday, June 15, 2022
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Copies of the Prospectus and documents incorporated by reference therein are available electronically on SEDAR ( www.sedar.com ) under Karora's issuer profile.

Key Points: 
  • Copies of the Prospectus and documents incorporated by reference therein are available electronically on SEDAR ( www.sedar.com ) under Karora's issuer profile.
  • HGO has a substantial Mineral gold Resource and Reserve and prospective land package totaling approximately 1,900 square kilometers.
  • 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.

Karora Resources Announces that Leading Independent Proxy Advisory Firms ISS and Glass Lewis Recommend Karora Shareholders Vote For all Proposed Items at the Upcoming Shareholders Meeting

Retrieved on: 
Friday, June 10, 2022
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ISS and Glass Lewis are leading, third party proxy advisory firms who, among other services, provide proxy voting recommendations to pension funds, investment managers, mutual funds and other institutional shareholders.

Key Points: 
  • ISS and Glass Lewis are leading, third party proxy advisory firms who, among other services, provide proxy voting recommendations to pension funds, investment managers, mutual funds and other institutional shareholders.
  • Karora encourages shareholders to read the meeting materials in detail.
  • Copies of the meeting materials, which include instructions as to how to attend the virtual meeting, are available under Karora's profile on SEDAR at www.sedar.com .
  • Karora recently announced the proposed acquisition of the Lakewood Mill in Western Australia which will initially add 1.0 Mtpa capacity.

Karora Resources Bolsters Balance Sheet with Lower Cost $80 Million Credit Agreement with Macquarie Bank Limited

Retrieved on: 
Thursday, June 9, 2022
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TORONTO, June 9, 2022 /CNW/ - Karora Resources Inc. (TSX: KRR) (OTCQX: KRRGF) ("Karora" or the "Corporation") is pleased to announce it has agreed to refinance its current credit facility with a lower-cost senior secured $80 million Credit Agreement with Macquarie Bank Limited ("Macquarie").

Key Points: 
  • TORONTO, June 9, 2022 /CNW/ - Karora Resources Inc. (TSX: KRR) (OTCQX: KRRGF) ("Karora" or the "Corporation") is pleased to announce it has agreed to refinance its current credit facility with a lower-cost senior secured $80 million Credit Agreement with Macquarie Bank Limited ("Macquarie").
  • Closing of the Credit Agreement is subject to conditions precedent, including payment of customary upfront fees that are typical for a financing of this nature.
  • Paul Andre Huet, Chairman & CEO, commented: "I am very pleased we have partnered with Macquarie on an $80 Million Credit Agreement which bears a significantly lower interest than our current credit facility.
  • We intend to refinance our outstanding $30 million credit facility while keeping the remainder as dry powder moving forward.

Karora Resources Announces Agreement to Acquire the Lakewood Gold Mill and Significantly De-Risk Growth Plan

Retrieved on: 
Tuesday, May 24, 2022
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The acquisition price of A$80 million is comprised of A$70 million in cash and A$10 million in Karora shares.

Key Points: 
  • The acquisition price of A$80 million is comprised of A$70 million in cash and A$10 million in Karora shares.
  • Karora successfully tolled Beta Hunt material through the Lakewood mill in Q1 2022, achieving 94% Au recovery.
  • Karora has paid a A$500,000 deposit to the seller to be deducted from the cash portion of the purchase price due at closing.
  • Not only is the Lakewood mill closer to Beta Hunt than Higginsville, but the acquisition would provide several immediate strategic and operating benefits to Karora.

Karora Reports First Quarter 2022 Results and Appointment of Meri Verli to the Board of Directors

Retrieved on: 
Thursday, May 12, 2022
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Karora will host a call/webcast on May 12, 2022 at 10:00 a.m. (Eastern Time) to discuss the first quarter 2022 results.

Key Points: 
  • Karora will host a call/webcast on May 12, 2022 at 10:00 a.m. (Eastern Time) to discuss the first quarter 2022 results.
  • TORONTO, May 12, 2022 /CNW/ - Karora Resources Inc. (TSX: KRR) (OTCQX: KRRGF) ("Karora" or the "Corporation")is pleased to announce its financial results and review of activities for the three months ended March 31, 2022.
  • During the quarter, labour availability reached a low of approximately 60%, prompting the need for additional contract labour.
  • We are also very pleased to announce that Meri VerIi is being appointed to the Karora Board of Directors effective May 16, 2022.

Mining Veteran Tony Makuch Joins Karora Team as Special Advisor

Retrieved on: 
Monday, May 9, 2022
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TORONTO, May 9, 2022 /CNW/ - Karora Resources Inc. (TSX: KRR) (OTCQX: KRRGF) ("Karora" or the "Corporation") is pleased to announce the appointment of Mr. Tony Makuch to the role of Special Advisor to the Corporation.

Key Points: 
  • TORONTO, May 9, 2022 /CNW/ - Karora Resources Inc. (TSX: KRR) (OTCQX: KRRGF) ("Karora" or the "Corporation") is pleased to announce the appointment of Mr. Tony Makuch to the role of Special Advisor to the Corporation.
  • Paul A Huet, Chairman and CEO of Karora, commented "I am thrilled to welcome Tony Makuch to the Karora team.
  • Tony's willingness to join the Karora team is a strong endorsement of the Company we have built at Karora as well as its promising growth potential.
  • Tony Makuch added, "The Board of Directors and Paul's team at Karora have done an excellent job in both growing the operational base and building significant value for shareholders.

Karora Announces First Quarter Gold Production of 27,489 ounces and Sales of 26,286 ounces

Retrieved on: 
Wednesday, April 20, 2022
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Gold sales for the quarter were 26,286 ounces.Karora's consolidated unaudited cash balance was $78 million as of March 31, 2022 as the company deployed capital into its growth plan.

Key Points: 
  • Gold sales for the quarter were 26,286 ounces.Karora's consolidated unaudited cash balance was $78 million as of March 31, 2022 as the company deployed capital into its growth plan.
  • Paul Andre Huet, Chairman & CEO, commented: "I am extremely proud of our gold production during the first quarter which was in line with our 2022 mine plan, despite challenging conditions.
  • Our full-year 2022 guidance range for gold production of between 110,000 to 135,000 ounces and AISC1 of US$950 to US$1,050 per ounce sold remains unchanged.
  • 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.

Karora Resources Publishes Inaugural ESG Report for 2021

Retrieved on: 
Friday, April 8, 2022
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TORONTO, April 8, 2022 /CNW/ - Karora Resources Inc. (TSX: KRR) (OTCQX: KRRGF) ("Karora" or the "Corporation") is pleased to announce that it has published its inaugural Environmental, Social and Governance ("ESG") report for the 2021 year.

Key Points: 
  • TORONTO, April 8, 2022 /CNW/ - Karora Resources Inc. (TSX: KRR) (OTCQX: KRRGF) ("Karora" or the "Corporation") is pleased to announce that it has published its inaugural Environmental, Social and Governance ("ESG") report for the 2021 year.
  • Paul Andre Huet, Chairman & CEO, commented: "The release of Karora's inaugural 2021 ESG report is an important milestone in the evolution of the Company.
  • In 2021, Karora completed an ESG materiality assessment, which forms the foundation of our ESG strategy.
  • Completed a full ESG strategy that identified measures for Karora to enhance ESG integration into governance processes and risk management systems.

Karora Announces Updated Consolidated Gold Mineral Resource Highlighted by Maiden Gold Resource for the Larkin Zone at Beta Hunt; Consolidated Mineral Resource Now Totals 2.71 Million Measured and Indicated ounces and 1.21 Million Inferred ounces

Retrieved on: 
Thursday, April 7, 2022
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Mr Devlin has reviewed and approved the disclosure of the technical information for the Beta Hunt and Higginsville Gold Mineral Resource included in this news release.

Key Points: 
  • Mr Devlin has reviewed and approved the disclosure of the technical information for the Beta Hunt and Higginsville Gold Mineral Resource included in this news release.
  • There is no certainty that all or any part of the Mineral Resources estimated will be converted into Mineral Reserves.
  • The Measured and Indicated Mineral Resources are inclusive of those Mineral Resources modified to produce Mineral Reserves.
  • The Gold Mineral Resource are estimated using a long term gold price of US$1,600/oz with a US:AUD exchange rate of 0.70.