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 site’s limestone deposits would adequately satisfy the project’s 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 Board’s 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 company’s potential
for future growth.
The Board has reviewed a number of opportunities, however in view of the current investment market conditions none of these prospects
have met all of the Board’s criteria for investment approval.
The Board will continue to evaluate new opportunities in 2014.
The Directors of Oakajee Corporation
Click here to read about the directors of Oakajee Corporation.