Sunkar Resources PLC Operations Update (3246V)
12 Décembre 2013 - 8:00AM
UK Regulatory
TIDMSKR
RNS Number : 3246V
Sunkar Resources PLC
12 December 2013
December 12, 2013
SUNKAR RESOURCES PLC
("Sunkar" or the "Company")
OPERATIONS UPDATE
Sunkar (AIM: SKR) is pleased to announce the following
operational results.
Earth Moving Contracts
During the period from 1 January to 1 November 2013, the
Company's wholly owned subsidiary, Temir Service LLP ("Temir")
generated overall revenue of $11.7 million from two earth-moving
contracts for the construction of a rail track foundation on a
stretch of the new railway line from Beineu to Tassai stations in
Western Kazakhstan. Temir expects to complete the required earth
moving works before the year end.
Subsoil Use Contract operations
As of November 30, 2013 the Company has mined 270,000 tons of
phosphate ore under its revised ore mining commitment of 300,000
tonnes of rock per year. This volume has been achieved in two
months of work during October and November this year. Management
believes that this amount, which is above 90% of the target volume,
will be sufficient to satisfy the relevant authority's requirements
under the Subsoil Use Contract, as the early onset of winter meant
that mining activity had to be aborted earlier than expected.
Phosphate Rock and Direct Application Rock ("DAR") sales
During the course of 2013 the Company expanded its target
markets for Phosphate Rock and DAR flour sales and completed its
first shipments to Eastern Europe, namely, Hungary, Estonia and
Belarus. Although these shipments were for relatively small
quantities, they mark another step forward for Sunkar as a
developing phosphate fertilizer company.
NP fertilizer granulation project
The applications of trial quantities of DAR flour from Chilisai
have increased gradually over the past 4 years. However, farmers,
the end user of the product, have expressed concerns regarding the
lack of specialized equipment required for DAR application. Most of
these farmers have requested DAR to be shipped in granulated form,
to enable the use of regular planting equipment during its
application as farmers are typically using their planting equipment
to apply other types of fertilizer.
DAR granulation can be accomplished after wet blending of DAR
with nitrogen fertilizers such as ammonium nitrate or ammonium
sulphate, whilst the Company currently has the equipment to produce
the powder only form of DAR. According to the Company's preliminary
assessment, sales of granulated DAR within Kazakhstan and
neighboring countries could reach 100,000 tonnes per annum.
As a result, the Company is currently examining the potential to
produce DAR in granulated form. Temir has contracted the Sumy State
Scientific Research Institute of Mineral Fertilizers and Pigments
in Ukraine to run pilot plant tests on producing trial quantities
of granulated DAR. The product will be an NP fertilizer in
composition 11-11-0(note 3) and the pilot plant tests will provide
design parameters for the front end design of an NP manufacturing
facility. The pilot plant tests are in progress, and the Company is
pleased to confirm that blending of DAR with ammonium nitrate has
proved to be technically feasible. The presence of ammonium
compounds in the granulated product will also increase availability
of P2O5 nutrient, contained in phosphate rock, to crops.
The first samples of this NP fertilizer are now being sent to
potential users in Kazakhstan in order to solicit preliminary
orders. The tests reports and design parameters for the front end
design are anticipated before year end, and Sunkar plans to
complete a feasibility study, with regard to building a plant to
produce NP fertilizer during the first half of 2014.
The Company will provide an update on further developments of
the NP fertilizer granulation project as and when appropriate.
Strategic Partnership
The management's main goal remains the development of the
chemical complex for the Chilisai Project to produce DAP/MAP. The
management team is continuing to hold strategic partnership talks
with a number of industry participants and financial institutions
concerning the Chilisai Project, with the aim of achieving the
Company's objective of becoming a world-class vertically integrated
phosphate producer. Further announcements will be made as and when
appropriate.
For further information, please contact:
Sunkar Resources plc
Teck Soon Kong, Chairman Tel: +44 20 7397 3730
Serikjan Utegen, CEO
Strand Hanson Limited
Stuart Faulkner Tel: +44 20 7409 3494
Andrew Emmott
James Dance
Bankside Consultants
Simon Rothschild Tel: +44 20 7367 8888
or visit: www.sunkarresources.com
Notes to Editors:
1. Sunkar Resources plc
Sunkar Resources plc, through its wholly owned subsidiary Temir
Service LLP, operates a phosphate rock mine in Aktobe Oblast, North
West Kazakhstan. Temir Service LLP holds a Subsoil Use Contract to
part of the Chilisai Phosphate Rock Deposit. The contract area is
estimated to contain 1,128 million tonnes of phosphate ore.
Sunkar's strategy is to build a world class integrated
ammoniated phosphate fertilizer plant with low operating costs.
Sunkar's low cost base derives from its near surface phosphate rock
deposit and access to sulphur from the nearby North Caspian oil and
gas fields.
2. Sumy State Scientific Research Institute of Mineral
Fertilizers and Pigments
Sumy State Scientific Research Institute of Mineral Fertilizers
and Pigments (Gos NII MINDIP) is the principal organization of the
Ukrainian Ministry of Industrial Policy providing scientific and
technical support for the production of phosphate compound
fertilizers, organic- mineral fertilizers, inorganic pigments,
paints, coagulants to treat potable water and sewage, and salts of
inorganic acids.
3. NP 11-11-0 Fertilizer
All commercial bulk fertilizers are characterized by content of
main plant nutrients. The NPK rating (or N-P-K) is used to label
fertilizer based on the relative content of the chemical elements
nitrogen (N), phosphorus (P), and potassium (K) that are commonly
used in fertilizers. The N value is the percentage of elemental
nitrogen by weight in the fertilizer. The values for P and K
represent the amount of oxide in the form of P2O5 and K2O that
would be present in the fertilizer if all the elemental phosphorus
and potassium were oxidized into these forms.
Correspondingly the NP 11-11-0 fertilizer contains 11% N and 11%
P(2) O(5) .
This information is provided by RNS
The company news service from the London Stock Exchange
END
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