Why Invest
We are a copper producer at our Tartana mine site and we also have an extensive portfolio of tenements focused on the exploration and development of copper, zinc, gold, silver and critical metals resources in the prospective Chillagoe region, Far North Queensland.
Our strategy is to become a self-funded and dividend paying explorer/developer.
We have refurbished our heap leach – solvent extraction – crystallisation plant on our Tartana mining leases and produce copper sulphate pentahydrate for sale into the northern Australian mining industry and the agricultural industry. Copper sulphate pentahydrate contains 25% copper and pricing is based on the LME copper price plus a premium which provides direct leverage to copper price movements. The copper sulphate pentahydrate is sold in 1.25 tonne bulka bags and our 100% offtaker, Kanins International, pays for our shipments as they leave our mine gate.
We produced our first saleable shipment in May 2024 and production has continued to ramp up with our largest shipment (150 tonnes) to-date conducted at the end of August 2024. Copper is currently being sourced from copper in solution in the ponds and residual copper in the heap leach pads. Our plan is to re-open the open pit in 2025.
Our prospective exploration tenure in the Chillagoe region covers a range of advanced and greenfield projects in precious, base metals and critical metals. On the Tartana mining leases we have separate primary copper and zinc resources.
In terms of copper, we have previously reported 45,000 tonnes of contained copper (combined Indicated and Inferred – see Tartana copper section on this website). To assist in the potential development of this resource we have drilled a 300 metre diamond hole to provide samples for metallurgical testwork to assess ore sorting and flotation recoveries to produce a standard copper in concentrate product.
At the Queen Grade zinc project, we have reported an Inferred resource of 39,000 tonnes of contained zinc (see Queen Grade section on this website).
Elsewhere, we have reported an inferred resource of 415koz gold at the Mountain Maid gold project (see Mountain Maid section on this website) and we continue to work on a resource estimation for the Cardross copper project. Future exploration will also target down dip copper exploration at the Ok Copper Mines on the Bellevue tenements. Our less advanced projects range from exploration of copper/gold surface prospects in the Bellevue and Dimbulah projects to the Beefwood ‘frontier’ project which exhibits large scale but buried geophysical and geochemical targets which have never been drill tested.
