Minerals explorer Korab is far from a household name, but the minnow is likely to again set tongues wagging.

The resources junior announced that it has received an offer for an off-take agreement for 100,000 tonnes per annum of phosphate rock from its Geolsec project at Rum Jungle in Northern Territory. Although investors have already dived back into the stock, sending it 12 per cent higher on Friday, Korab notes that the negotiations regarding the offtake agreement are “incomplete".