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Website
Pre Money Equity Valuation
$9,857,247
Min Raise
$4,000,000
Max Raise
$5,000,000
Estimated Close
2020-11-26
Issue Type
IPO
Lead Manager
Harbury Advisors Pty Ltd
Type of Securities
Shares
Date First Lodged
21/10/2020
Offer Costs $
$419,000
Market Cap Max
$14,857,247
Key Executives
Michael Stirzaker (NEC), Paul Bibby (EMD), John Madden (ED), Stephen Fabian (NED)
Company Address
211 McIlwraith Street Carlton North, VIC 3054
Exchange
ASX
Chairman's Letter

Dear Investor,
On behalf of the Board of Directors, I am pleased to offer you the opportunity to become a shareholder in AKORA
Resources Limited (AKORA or Company). AKORA holds iron mineralisation tenements in Madagascar; our
flagship project is the 100% owned Bekisopa1
– a high grade lump direct ship iron mineralisation prospect in
south central Madagascar. The Company also holds additional promising iron mineralisation tenements near the
east coast of Madagascar, named Tratramarina (100% owned) and Ambodilafa (90% beneficially owned as to
prospective iron ore commodities).
AKORA’s highlights from the Independent Geologist Report for Bekisopa show:
1. Mineralisation interpreted as being a series of parallel layers of massive magnetite-hematite, of structural
origin, with host rock containing coarse magnetite between those high-grade layers.
2. Magnetics show extensive anomalies along the 7-kilometre strike extending +500m below surface with
widths of 40m to 150m and dipping to the west.
3. Based on these assessments and in conjunction with previous work, potential for high grade iron
mineralisation can be seen over a large strike and with considerable depth potential.2
4. Between and adjacent to the massive magnetite-hematite layers is disseminated magnetite-hematite
mineralisation in the country rock, which grade ranges around 30 to 50% Fe and estimated potential
tonnage of this mineralisation of 500 to 1,000 million tonnes.2
Under this Prospectus the Company is seeking to raise a minimum of A$4,000,000 (before costs) via the issue of
16,000,000 New Shares and a maximum of $5,000,000 (before costs) via the issue of 20,000,000 New Shares at
an issue price of A$0.25 per New Share, with one unquoted Attaching Option for every two New Shares
subscribed for under the Offer, exercisable at A$0.30 within two years of issue. Harbury Advisors Pty Ltd is the
Lead Manager of the Offer.
Funds raised from the Offer will be used to undertake a focused 4,000m to 5,000m drilling programme with the
objective of defining an initial JORC Resource at Bekisopa, further ground magnetic surveys to test mineral
extension on tenements to the south west of our main Bekisopa tenements, mineralogy and mineral processing
evaluations on the various ore types, corporate and administrative costs and working capital.
This Prospectus contains detailed information about the Company, our projects, and the Offer, as well as the risks
of investing in the Company. I ask that prospective investors take the time to read this Prospectus carefully to
gain a full appreciation of the quality of the Company’s assets. As Chairman, I have had direct involvement with
our experienced board and management team for a number of years and I have been fortunate to have visited
Tratramarina and oversaw funding for AKORA’s projects while a partner of one of the Company’s substantial
shareholders, Pacific Road Capital. Before you make your investment decision, I urge you to read this Prospectus
in its entirety and seek professional advice if required.
Yours sincerely,
Mr Mike Stirzaker
Chairman of AKORA Resources Limited