Mining Permit Grant for Bekisopa High-Grade Iron Ore Project

AKORA Resources (ASX: AKO) has achieved a significant milestone with the grant of the Mining Permit for the Bekisopa high-grade iron ore project in Madagascar. This allows AKORA to progress from exploration to development, unlocking the project's full potential. The Mining Permit, valid for 25 years, covers an area of approximately 25km2 and marks a key value-creating moment for the Company.

The Pre-Feasibility Study outlined compelling economics for the project, including a low upfront capital of US$61 million, NPV10 of US$147 million, and IRR of 86%. The Company's disciplined stakeholder engagement led to the successful approval of the Mining Permit, facilitating interest from strategic partners, financing discussions, and Feasibility Study planning. The focus remains on regulatory compliance, sustainability, and responsible operations.

To further enhance value creation, a retention/performance rights program has been implemented to align incentives with value-driven milestones. Immediate vesting triggers include defined events such as a binding financial transaction or change of control. The Company is committed to delivering shareholder value while fostering economic and social benefits in Madagascar.

Investors can reach out for more information or clarifications regarding this pivotal announcement by contacting Managing Director Peter Bird at info@akoravy.com. AKO continues its mission to develop cleaner iron ore for greener steel, positioning itself as a key player in the high-grade iron ore market.