TORONTO, June 10, 2021 /CNW/ - Karora Resources Inc.
(TSX: KRR) ("Karora" or the "Corporation") is pleased to announce
the voting results of its annual meeting of shareholders held
today.
Election of Directors
The nominee directors listed in Karora's management information
circular dated May 7, 2021 were
elected as directors. Shareholders represented by proxy at the
meeting voted as follows:
Director
|
Votes For (by
proxy)
|
Votes Withheld (by
proxy)
|
Peter
Goudie
|
52,706,513
|
98.35%
|
883,637
|
1.65%
|
Scott M.
Hand
|
45,388,889
|
84.70%
|
8,201,261
|
15.30%
|
Paul Huet
|
53,387,975
|
99.62%
|
202,175
|
0.38%
|
Wendy Kei
|
53,157,312
|
99.19%
|
432,838
|
0.81%
|
Warwick
Morley-Jepson
|
53,143,859
|
99.17%
|
446,291
|
0.83%
|
Chad
Williams
|
35,610,040
|
66.45%
|
17,980,110
|
33.55%
|
Other Items
The resolution to reappoint PricewaterhouseCoopers LLP,
Chartered Accountants, as auditors of the Corporation to hold
office until the next annual meeting of shareholders and to
authorize the directors to fix the remuneration to be paid to the
auditors was approved by 99.85% of the votes cast on the
resolution.
About Karora Resources
Karora is focused on growing gold production and reducing costs
in an energy conscious manner at its integrated Beta Hunt Gold Mine
and Higginsville Gold Operations ("HGO") in Western Australia. The Higginsville treatment
facility is a low-cost 1.4 Mtpa processing plant which is fed at
capacity from Karora's underground Beta Hunt mine and open pit
Higginsville mine. At Beta Hunt, a robust gold Mineral Resource and
Reserve is hosted in multiple gold shears, with gold intersections
along a 4 km strike length remaining open in multiple directions.
HGO has a substantial Mineral gold Resource and Reserve and
prospective land package totaling approximately 1,900 square
kilometers. The Company also owns the high grade Spargos Reward
project which is anticipated to begin mining in 2021. Karora has a
strong Board and management team focused on delivering shareholder
value. Karora's common shares trade on the TSX under the symbol
KRR. Karora shares also trade on the OTCQX market under the symbol
KRRGF.
Cautionary Statement Concerning Forward-Looking
Statements
This news release contains "forward-looking information"
including without limitation statements relating to the timing for
the completion of technical studies, liquidity and capital
resources of Karora, production guidance and the potential of the
Beta Hunt Mine, Higginsville Gold Operation, the Aquarius Project
and the Spargos Gold Project.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of Karora to be materially different
from any future results, performance or achievements expressed or
implied by the forward-looking statements. Factors that could
affect the outcome include, among others: future prices and the
supply of metals; the results of drilling; inability to raise the
money necessary to incur the expenditures required to retain and
advance the properties; environmental liabilities (known and
unknown); general business, economic, competitive, political and
social uncertainties; results of exploration programs; accidents,
labour disputes and other risks of the mining industry; political
instability, terrorism, insurrection or war; or delays in obtaining
governmental approvals, projected cash operating costs, failure to
obtain regulatory or shareholder approvals. For a more detailed
discussion of such risks and other factors that could cause actual
results to differ materially from those expressed or implied by
such forward-looking statements, refer to Karora 's filings with
Canadian securities regulators, including the most recent Annual
Information Form, available on SEDAR at www.sedar.com.
Although Karora has attempted to identify important factors
that could cause actual actions, events or results to differ
materially from those described in forward-looking statements,
there may be other factors that cause actions, events or results to
differ from those anticipated, estimated or intended.
Forward-looking statements contained herein are made as of the date
of this news release and Karora disclaims any obligation to update
any forward-looking statements, whether as a result of new
information, future events or results or otherwise, except as
required by applicable securities laws.
Cautionary Statement Regarding the Higginsville Mining
Operations
A production decision at the Higginsville
gold operations was made by previous operators of the mine, prior
to the completion of the acquisition of the Higginsville gold
operations by Karora and Karora made a decision to continue
production subsequent to the acquisition. This decision by Karora
to continue production and, to the knowledge of Karora, the prior
production decision were not based on a feasibility study of
mineral reserves, demonstrating economic and technical viability,
and, as a result, there may be an increased uncertainty of
achieving any particular level of recovery of minerals or the cost
of such recovery, which include increased risks associated with
developing a commercially mineable deposit. Historically, such
projects have a much higher risk of economic and technical failure.
There is no guarantee that anticipated production costs will be
achieved. Failure to achieve the anticipated production costs would
have a material adverse impact on the Corporation's cash flow and
future profitability. Readers are cautioned that there is increased
uncertainty and higher risk of economic and technical failure
associated with such production decisions.
SOURCE Karora Resources Inc.