2 more new research reports on website

Goldletter International updated KOR research at the Australian Gold Conference yesterday. Two reports have been prepared. They have upgraded KOR price objective/target to: A$ 0.50


Investment recommendation:
Korab is focusing its activities on four mining projects of which three in Australia and one in the Ukraine.
In Australia’s Northern Territory, the Batchelor Project hosts a number of nearby uranium polymetallic and
gold mines and resources, which include the Company’s GeolSec Phosphate Rock Deposit, Winchester
Magnesium Deposit and the Sundance Gold Mine.
In addition, Korab’s uranium assets within the Rum Jungle Mineral Field, host to several high-grade uranium
deposits and mines and being part of the Batchelor Project, will be spinned-off into publicly listed Uranium
Australia, thereby offering substantial added value to Korab shareholders.
GeolSec alone has the potential to operate for at least 5 years at a rate of 30,000 tonnes of environmentally
friendly organic phosphate rock fertilised and a targeted gross profit of A$ 26-27 million over 3 years. Its net
profit would exceed Korab’s total current market capitalization.
The Brobikovo Gold Project in Ukraine is targeted to produce 15,300 ounces of gold in concentrate for a pretax
profit of US$ 3.36 million (Korab’s share of profit).
Based on a current market valuation of just A$ 18.4 million, not including the proceeds of the A$ 2 million
capital raising, and creating substantial added value to shareholders through the spin-off of Uranium Australia
and to be followed by the spin-off of the Brobikovo Gold Project in a later stage, in our view, the shares of
Korab are strongly undervalued.
We have upgraded our price objective to: A$ 0.50.

for futher details, refer to
http://www.korabresources.com.au/analysts.html



as always DYOR