Ann: Response to ASX Query Letter, page-8

NOT GOOD! Stock dump incoming?

29 January 2024

ASX LETTER

Korab Resources Ltd (“Korab”, or “Company”) (ASX: KOR) advises that it has received a letter from ASX stating that in ASX’s opinion the Company does not comply with Listing Rule 12.1 (KOR’s operations are not sufficient to warrant the continued quotation of its securities).

ASX will afford KOR a period of 6 months from the date of the letter to demonstrate to ASX that it is compliant with Listing Rule 12.1.

If KOR does not demonstrate its compliance with Listing Rule 12.1 to ASX’s satisfaction by 29 July 2024, ASX may suspend KOR’s securities from official quotation.

ASX requested that by 15 July 2024 Korab makes written submissions to ASX regarding KOR’s compliance with the Listing Rule 12.1 (the Submissions) in order for ASX to consider the Submissions prior to the proposed suspension date.

ASX may immediately suspend KOR’s securities from official quotation at any time if it has any concerns about KOR’s capacity to continue its operations and meet its business objectives. If KOR’s securities enter into suspension during this 6 month period for any other reason (including under Listing Rule 17.5 for the failure to lodge a period report or voluntarily under Listing Rule 17.2) KOR must provide ASX with the Submissions at the time of the suspension for ASX to consider whether reinstatement of KOR’s securities is appropriate in the circumstances following lodgement of the document or report the subject of the suspension.

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