Floated at 120p on June 08 raising 33.6m to fund the development of a fertiliser factory, has used $5.9m for adquisitions September 08 and said it still had $26.9m left at 30 June 09.

The company has a phosphorous rock deposit in Kazakhstan totalling 800 million tonnes capable of producing fertilisers for the next 56 years.
The deposit lies in a flat lying position on the Kazakh steppes close to surface so will be cheap to mine and the world still needs fertilisers.
Positive points
1. Shallow - 1 to 3m depth. Ultra low cost to extract.
2. Close to Tengiz oil field which has high sulphur content, hence cheap source of sulphuric acid.
3. Located at junction of two main railway lines giving direct access to Russia/China.

Sunkar is suppose to be one of the lowest cost producers in the World at sub $125 per DAP (die-ammonium phosphate) tonne. The average is circa $200 with some producers as high as $300.
The case for phosphate deposits is population growth means more agriculture means more fertiliser needed in the future.
RESUME SKR produce phosphate for DAP fertilizer and have licenses and acrage in Kurdistan to last 50-70yrs producing in excess of 100M tonnes of raw material each year. 160m shares in issue, directors own a significant chunk. Also they have a cheap source of sulphur required to produce the DAP

Phosphorus - its role and nature
Phosphorus (chemical symbol P) is an element necessary for life. Because phosphorus is highly reactive, it does not naturally occur
as a free element, but is instead bound up in phosphates. Phosphates typically occur in inorganic rocks.
As farmers and gardeners know, phosphorus is one of the three major nutrients required for plant growth: nitrogen (N), phosphorus (P) and potassium (K).
Fertilizers are labelled for the amount of N-P-K they contain.
Most phosphorus is obtained from mining phosphate rock. Crude phosphate is now used in organic farming, whereas chemically treated forms such
as superphosphate, triple superphosphate, or ammonium phosphates are used in non-organic farming.
The current major use of phosphate is in fertilizers. Growing crops remove it and other nutrients from the soil... Most of the world's farms do not have or
do not receive adequate amounts of phosphate. Feeding the world's increasing population will accelerate the rate of depletion of phosphate reserves.
and...
resources are limited, and phosphate is being dissipated. Future generations ultimately will face problems in obtaining enough to exist.
It is sobering to note that phosphorus is often a limiting nutrient in natural ecosystems. That is, the supply of available phosphorus limits the
size of the population possible in those ecosystems.

13 May 09 conference - fertilizers link about SKR ....minesite

Intraday
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i can see the obvious need of funding but what caused it? over a period of time - i always considered skr to be the better bet out of skr and sxx?!

Dare I suggest the possibility of some unscrupulous , yet to be disclosed, activities.

stranger things have happened!!

read post 707

Update on Financial Position
Further to the announcement of the condensed financial statements for the six months ended 30 June 2011 (the "Interims"), Sunkar Resources plc (AIM:SKR) hereby provides an update as to its financial position and progress in addressing the short term working capital requirements of the business.

As per the Interims announcement, the Company anticipates that funding of at least US$5 million is required in order to complete the Feasibility Study and continue operations in Kazakhstan until the end of the current financial year and, in total, US$12 million to achieve its key aims of, establishing a Direct Application Rock ("DAR") business and meeting Subsoil Use Contract ("SUC") commitments to the end of September 2012.

So far in 2011, the Company has successfully mined 502,000 tonnes of the 1 million tonnes required to be mined this year under the SUC. In light of the Company's financial position Sunkar does not expect to undertake any further mining this year. While the likelihood of successfully renegotiating the 2011 commitment cannot presently be determined, the Company has started encouraging discussions with the regulator regarding a waiver of this commitment.

Since announcing the Interims, the directors have continued working to secure funding to augment loans received from three directors and a trust of the family of a fourth director totalling approximately US$894,000. The Company is in negotiations with a number of potential sources of funding and the Board expects to be in a position to announce details of a financing plan within the next month. The financing plan may include a combination of equity and convertible loan note investments. Any financing solution may also include an open offer to shareholders. Management continue talks regarding rock sales to fertilizer plants in Russia.

The current funds available to the Company are US$240,000 (including the recent director loans) and the Board continues to make every effort to reduce cash outflow. In addition to stopping mining, Directors' remuneration is being deferred and will continue to be so until financing is secured. The Company has significant trade creditors who are being supportive to the Company as it seeks additional short term working capital.

The Company's shares will remain suspended pending clarification of its financial position. Further announcements will be made in due course.

It does not look very encouraging, does it?

not one bit - tanker's note ref 707 looking ominous - that open offer to shareholders bit in these circumstances looks rather a piss take - interesting to know who the major share holders are - and how much the directors who are supposedly loaning the cash actually have - stinks of a real stitch up - fsa should review this mob imo quite urgently

StockMarketWire.com
Sunkar Resources has received a $2.8m from Sun Avenue Partners Corporation which has completed the first tranche of its investment under a subscription agreement. Sunkar is issuing the $2.8m first convertible loan notes to SAPC under the terms announced on 23 December.

Sunkar is also finalising a circular to shareholders to call a general meeting to approve the necessary resolutions to issue a further $10m convertible loan notes.

i see that impressed the city today!! another flat day

With the shares not being traded, it is not too surprising.

RESTORATION OF TRADING ON AIM

The trading on AIM for the under-mentioned securities was temporarily suspended. The suspension is lifted from 20/01/2012 7:30am an announcement having been made.

Proposed fundraising of up to US$12.8 million through the issue of Convertible Loan Notes to Sun Avenue and notice of General Meeting



1. Introduction

Sunkar announced on 23 December 2011 that the Company had entered into a conditional subscription agreement with Sun Avenue, an investment and trading company registered in the British Virgin Islands, for the subscription by Sun Avenue in two tranches of up to US$12.8 million of Convertible Loan Notes. The Convertible Loan Notes will convert in full, in accordance with their terms, into an aggregate of 174,476,283 Ordinary Shares, representing 51.0 per cent. of the fully diluted issued share capital of the Company as of today's date as enlarged by the issue of such Ordinary Shares and subject to any options in the Company not being exercised. The Investment values each Ordinary Share at approximately 4.8 pence as at 18 January 2012 (being the last practicable date prior to the date of this document).

The first tranche of the Investment, comprising US$2.8 million First Convertible Loan Notes, was completed on 17 January 2012. The second tranche of the Investment, comprising the issue of US$10 million Second Convertible Loan Notes, is subject to certain conditions including the passing of the Resolutions at the General Meeting.

Full article here: http://www.moneyam.com/action/news/showArticle?id=4294587

Business as usual ?

If ever there was an illustration for investing of the dangers in the Soviet region, this is it !

I still don't know what happened, but that seems to be par for the course.

why do think they trade on the uk aim market .
answer becuse no regulation they can do what they like .
i did warn you to sell which i did and made a little profit .
this company is dead .

I don't hold

chess good . buy some RSA ex div about 4th march 6p .but sell before ex div

Isn't that chart something ! A Russian roulette stock you might say.

ah yes - SKR ..... i recollect being taken to task very sternly many moons ago for saying that i didn't think it was much of a company

I still haven't heard what happened, but my money would be on shady dealings of some sort.

chess . investors would not beallowed to speak out if the companys who have bad boards had there way . they do not like investors posting the truth.
if they dont like the truth run the company better and honestly