Ann: Winchester funding/development update, page-6

There has been little activity during the quarter at the Bobrikovo project. As previously advised, (29 July 2014) Korab Group finalised terms with respect to the potential sales of ore to unrelated third parties at mine gate for a fixed price per gold contained, with buyers being solely responsible for logistics, transportation and processing. In addition to the above transaction, an arrangement with another party was being negotiated. This arrangement envisaged that the ore would toll-treated and that this third party would be paid through a share of the gold recovered. This party would also be solely responsible for the logistics and the costs of transportation and processing.

During and following the end of the quarter Korab Group continued engagement with various stakeholders, potential partners and investors to move these transactions forward. Several site visits were completed to assess the state of the infrastructure and the logistics. Feedback was positive.


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Korab will advise the market when and if it enters into any material agreement/s regarding Bobrikovo.

Gold is gold, anywhere, anytime. Ukraine needs more!