Oct 15 (Reuters) - Korab Resources Ltd KOR.AX :
* Unit has received an offer of grant of the mining lease covering the Winchester magnesium carbonate (magnesite) deposit
* Expects the progress with the funding and magnesite sales/offtakes to accelerate following the grant of the mineral lease
* Says mineral lease ml 30587 covers 352 hectares and will be granted for initial period of 25 years upon payment of first year's rent
* Discussions with various parties regarding funding for development of the Winchester magnesite deposit at an advanced stage
* Says project has ability to potentially generate significant pre-tax earnings of $395 million over project life starting with first year of operations
* Source text for Eikon ID:nASX83gHXb