Oakajee Corporation Limited is an Australian company originally established to extract, manufacture and supply building
materials to the retail housing, commercial land development and industrial sectors in Australia.
To fund the operation, Oakajee Corporation Ltd successfully raised $4m from an initial public offering of ordinary shares.
The initial focus was on the development of a highly automated plant to manufacture reconstituted limestone products.
The plant would be located at a self-managed limestone quarry situated approximately 20 kilometres from Geraldton, Western Australia.
While geological reports confirmed that the siteís limestone deposits would adequately satisfy the projectís demand, global
economic factors shortly after listing resulted in the Board reviewing the procurement, installation and commissioning of
the proposed manufacturing plant at the site.
Following the Boardís review of an economic assessment completed by an independent consultant on the proposed manufacturing operation,
the Board decided to defer commissioning of the plant and initial operation of the quarry.
Subsequently, the Board decided to relinquish the mining tenement and is continuing to evaluate a number of potential opportunities in
both the mining and non-mining industries, both in Australia and South East Asia, for the purpose of enhancing the companyís potential
for future growth.
The Company aims to acquire a suitable project and submit to the ASX for re-quotation of its securities. Further updates will be provided
to the market as and when required.
The Directors of Oakajee Corporation
Click here to read about the directors of Oakajee Corporation.