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AKORA Resources Limited (ASX:AKO)

ALERT: Price-sensitive ASX Announcement for AKO
Current share price for AKO : $0.082 0.004 (5.13%)+
Announcement
Release
27 Oct 2026 9:07AM
Price at Release
$0.078
Full Release
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Summary
AKORA Resources Limited’s 30 September 2026 Quarterly Activities & Cashflow Report states that the company continued advancing its 100%-owned Bekisopa Iron Ore Project in Madagascar, with multiple credible strategic party discussions and due diligence processes ongoing, while critical supply chain optimisation work progressed through logistics modelling, port inspections at Toliara, route survey validation and identification of an alternative haulage route to lower capital and operating costs for the planned Stage 1 2 Mtpa direct shipping ore operation; the company also reported delivery of community programs including solar water upgrades, reforestation nurseries, education support, equipment supply and social licence governance initiatives, while no work was undertaken at Satrokala during the quarter as focus remained on Bekisopa. The report reiterates Bekisopa’s staged development pathway, with Stage 1 targeting about 61.6% Fe DSO and Stage 2 targeting +67% Fe concentrate for greener steelmaking, and references a 194.7 Mt inferred resource and a 9.068 Mt probable ore reserve. Financially, AKORA ended the quarter with cash of about A$2.135 million, recorded A$438,575 in exploration and evaluation expenditure, no mine production or development activity, and received A$1.7 million from a placement and entitlement offer shortfall placement completed in July 2026, with quarterly net cash used in operating activities of A$436,000, investing activities of A$439,000, net cash from financing activities of A$738,000, and estimated funding for 2.4 quarters.
Key Points
  • AKORA continued to receive multiple credible strategic party interest in the Bekisopa Iron Ore Project with due diligence processes underway.
  • Critical supply chain optimisation for Bekisopa progressed through logistics modelling, Toliara port site visits, route survey work and identification of an alternative regional haulage route.
  • The company engaged several potential logistics partners for road haulage solutions for the planned Stage 1 DSO operation.
  • Community programs at Bekisopa included solar water pump upgrades, reforestation nurseries, education initiatives, delivery of equipment and governance workshops.
  • AKORA completed an equity raising, including entitlement offer shortfall and placement funds totalling A$1.7 million in July 2026.
  • Bekisopa remains the flagship project, targeting Stage 1 production of up to 2 Mtpa of about 61.6% Fe DSO and later Stage 2 production of +67% Fe concentrate.
  • The report cites Bekisopa’s inferred mineral resource of 194.7 Mt at 32.0% Fe and a probable ore reserve of 9.068 Mt at 53.0% Fe.
  • No activities were completed at the Satrokala Project during the quarter as focus remained on Bekisopa.
  • Cash at 30 September 2026 was approximately A$2.135 million.
  • Quarterly exploration and evaluation expenditure was A$438,575, and there was no mine production or development activity during the quarter.
  • Quarterly net cash used in operating activities was A$436,000 and in investing activities was A$439,000, while net cash from financing activities was A$738,000.
  • AKORA estimated it had 2.4 quarters of funding available at quarter end.
  • The report was dated 27 October 2026 and authorised by the board.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.