Austral Resources Company Update Presentation
Brisbane, Mar 1, 2022 AEST (ABN Newswire) - Austral Resources Australia Ltd (
ASX:AR1) is strategically positioned as a producing, pure play Copper Company - in a tier 1 jurisdiction.
Austral holds 15 Mining Leases and 14 Exploration Permits (Lady Annie Project only). Mineral Resources, Ore Reserves and all mining and processing infrastructure are located on the Mining Leases.
Austral currently has multiple exploration targets within its 1,940km2 of granted tenure and 420,000t of contained copper resources.
- Anthill to produce 40,000t of LME Grade A copper cathode over four years
- At 10,000tpa planned cathode production, Austral generates healthy cashflow to service debt, fund exploration
- Glencore prepayment provides a cash buffer during Anthill startup
- Clearly defined exploration program to increase oxide resources and mine life, with tenure that provides a target rich environment - multiple targets under review. Self funded through cashflow
- Exciting runway to increase sulphide resources and review a sulphide processing strategy
- Mount Isa district is a prolific copper region, containing numerous other copper assets/companies
- Austral's Mt Kelly plant is ideally positioned to promote regional consolidation
- $160m replacement value
- One of few pure-play copper companies on the ASX
- Earnings leveraged to US$9,900 Cu price and imminent production ramp-up
- Large JORC Mineral Resource Estimate of 60Mt @ 0.70% Cu (approx. 423kt of contained Cu)
- Meaningful copper inventory to be further expanded through exploration and discovery
The Mt Isa inlier hosts many world class copper and base metal mines. Austral's tenure contains a JORC Mineral Resource Estimate with over 420,000 tonnes of contained copper, providing a compelling platform for further discoveries through exploration.
*To view the presentation, please visit:
https://abnnewswire.net/lnk/50ZNX164
About Austral Resources Australia Ltd
Austral Resources Australia Ltd (ASX:AR1) is a copper cathode producer operating in the Mt Isa region, Queensland, Australia. Its Mt Kelly copper oxide heap leach and solvent extraction/electrowinning (SXEW) plant has a nameplate capacity of 30,000tpa of copper cathode. Austral is developing its Anthill oxide copper mine which has an Ore Reserve of 5.06Mt at 0.94% Cu. The Company expects to produce 40,000t of copper cathode over a four-year period from mid-2022.
Austral owns a significant copper inventory with a JORC compliant Mineral Resource Estimate of 60Mt at 0.7% Cu and 1,940km2 of highly prospective exploration tenure in the heart of the Mt Isa district, a world class copper and base metals province. The Company is implementing an intensive exploration and development programme designed to extend the life of mine and increase then review options to commercialise its copper resources.
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