Akora Resources pre-feasibility study update

Akora Resources Limited (ASX:AKO) has released an update on its Pre-Feasibility Study for the Bekisopa Iron Ore Project and exploratory drilling at Satrokala in Madagascar. Significant advancements have been noted, particularly in geotechnical, hydrogeological, and metallurgical areas, likely to decrease mining costs and streamline operations. The study is set for completion by early 2025.

Summary of Akora Resources' recent developments

Akora Resources Limited has reported significant progress in its Pre-Feasibility Study for the Bekisopa Iron Ore Project, alongside exploratory drilling at Satrokala in Madagascar. Key findings from geotechnical, hydrogeological, and metallurgical testing indicate potential for reduced mining costs and operational simplifications. The study aims to finalize by early 2025, aligning with Akora's ambition to produce up to 2 million tonnes of high-grade iron ore annually. The company is advancing towards responsible project development, considering environmental and social factors, as they prepare for eventual commercialization.

Executive commentary on project advancements

The geotechnical drilling results indicating that the weathered zone is amenable to ripping rather than requiring drill and blasting is a significant finding. This could have a considerable positive impact on mining costs. Moreover, the identification of subsurface water could be a valuable resource for our operations, enhancing our overall efficiency. Early metallurgical testing results are promising, showing low rock hardness and abrasion, which suggests reduced crushing power and costs. The progress made in geotechnical, hydrogeological, and metallurgical testing is encouraging as we advance towards our production goals.