andrej too distracted?

While we are waiting for existing Korab projects to get up and running - and for some projects, we have been waiting several years - Andrej seems distracted by new opportunities.

I ask the question whether Korab has an appropriate management structure and finance. Korab need a good finance expert and a good project manager to ensure projects are appropriately financed and implemented.

That may also suggest a review of all projects with the sale of projects which have lesser priotity, freeing up finances and simplfying project focus.

Korab Announcement
Tuesday, 17 January 2012
ENERGY ASSETS IN UKRAINE AND RUSSIA
This announcement is made as a matter of compliance with continuous disclosure obligations
pursuant to Chapter 3 of ASX listing rules and section 674 of the Corporation Act. Evaluation of the
assets is ongoing. Discussions with current owners are confidential and incomplete. Further updates
will be provided to the market when appropriate under the ASX listing rules and the Corporation Act.
Korab Resources, an Australian resource development and exploration company advises that it is
currently evaluating portfolio of energy assets located in Ukraine and Russia with a view to acquiring
controlling interest in these assets. Assets, which are being evaluated and which are subject of the
potential transactions, comprise:
? Producing anthracite coal mine (Eastern Ukraine)
? Producing oil and gas fields (Southern Russia)
? Anthracite coal deposits (Eastern Ukraine)
? Shale gas licences (Eastern Ukraine)
? Coal seam gas licences (Eastern Ukraine)
The anthracite coal mine which is being evaluated is currently in production. It has its own railway
spur and is connected by rail to a deep sea port terminal. The anthracite coal deposits which are
being evaluated are ready to be put into production.