Annuncio • Apr 02
Austral Resources Australia Ltd has completed a Follow-on Equity Offering in the amount of AUD 65 million. Austral Resources Australia Ltd has completed a Follow-on Equity Offering in the amount of AUD 65 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 166,666,667
Price\Range: AUD 0.09
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 424,702,100
Price\Range: AUD 0.09
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 130,853,456
Price\Range: AUD 0.09
Transaction Features: Subsequent Direct Listing Annuncio • Mar 20
Austral Resources Australia Ltd, Annual General Meeting, May 20, 2026 Austral Resources Australia Ltd, Annual General Meeting, May 20, 2026. New Risk • Mar 02
New minor risk - Revenue size The company makes less than US$5m in revenue. Total revenue: AU$5.8m (US$4.1m) This is considered a minor risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (20% average weekly change). Shareholders have been substantially diluted in the past year (303% increase in shares outstanding). Minor Risk Revenue is less than US$5m (AU$5.8m revenue, or US$4.1m). Annuncio • Feb 19
Austral Resources Australia Ltd has filed a Follow-on Equity Offering in the amount of AUD 65 million. Austral Resources Australia Ltd has filed a Follow-on Equity Offering in the amount of AUD 65 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 166,666,667
Price\Range: AUD 0.09
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 424,702,100
Price\Range: AUD 0.09
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 130,853,456
Price\Range: AUD 0.09
Transaction Features: Subsequent Direct Listing New Risk • Nov 07
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 190% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Negative equity (-AU$56m). Shareholders have been substantially diluted in the past year (190% increase in shares outstanding). Minor Risk Market cap is less than US$100m (AU$75.0m market cap, or US$48.6m). Board Change • Nov 06
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non-Executive Director Michael Hansel was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Annuncio • Oct 24
Austral Resources Australia Ltd has completed a Follow-on Equity Offering in the amount of AUD 40 million. Austral Resources Australia Ltd has completed a Follow-on Equity Offering in the amount of AUD 40 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 800,000,000
Price\Range: AUD 0.05
Discount Per Security: AUD 0.00225
Transaction Features: Subsequent Direct Listing Annuncio • Sep 04
Austral Resources Australia Ltd has filed a Follow-on Equity Offering in the amount of AUD 40 million. Austral Resources Australia Ltd has filed a Follow-on Equity Offering in the amount of AUD 40 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 800,000,000
Price\Range: AUD 0.05
Discount Per Security: AUD 0.00225
Transaction Features: Subsequent Direct Listing Annuncio • Jul 03
Austral Resources Australia Ltd (ASX:AR1) entered into a Deed of Company Arrangement to acquire Copper Resources Australia Pty Ltd. Austral Resources Australia Ltd (ASX:AR1) entered into a Deed of Company Arrangement to acquire Copper Resources Australia Pty Ltd on July 3, 2025. A cash consideration of AUD 18 million will be paid by Austral Resources Australia Ltd. The consideration consists of 9.9% of issued capital of Austral Resources Australia Ltd post capital raise to be issued for common equity of Copper Resources Australia Pty Ltd. The consideration also consists of 21 million conditional options. The transaction will be financed through equity investment of AUD 20 million.
The transaction is subject to creditor and employee approval, court order or shareholder consent for CRA share transfer, termination of pre-appointment liabilities, successful capital raise and ASX re-quotationof Austral Resources Australia Ltd, availability of acquisition funding, execution of sale documents and Creditors' Trust Deed, and nomination of a new Rocklands director to the board of Austral Resources Australia Ltd. The deal has been approved by the creditors and employees
Bell Potter Securities Limited acted as financial advisor for Austral Resources Australia Ltd. Annuncio • Apr 01
Austral Resources Australia Ltd Provides Production Guidance for the March 2025 Quarter Austral Resources Australia Ltd. provided production guidance for the March 2025 quarter. For the period, the company estimates Total Material Movement: 1,922,696 tonnes; Total Ore Mined: 217,323 tonnes at 0.68% copper (Cu); Total Contained Cu: 1,474 tonnes; and Total Cu Produced: 1,788 tonnes. Annuncio • Mar 18
Austral Resources Australia Ltd, Annual General Meeting, May 21, 2025 Austral Resources Australia Ltd, Annual General Meeting, May 21, 2025. Annuncio • Mar 19
Austral Resources Australia Ltd, Annual General Meeting, May 22, 2024 Austral Resources Australia Ltd, Annual General Meeting, May 22, 2024. Reported Earnings • Sep 04
First half 2023 earnings released: EPS: AU$0.021 (vs AU$0.052 loss in 1H 2022) First half 2023 results: EPS: AU$0.021 (up from AU$0.052 loss in 1H 2022). Revenue: AU$61.9m (up AU$52.4m from 1H 2022). Net income: AU$10.9m (up AU$34.4m from 1H 2022). Profit margin: 18% (up from net loss in 1H 2022). The move to profitability was driven by higher revenue. Annuncio • Aug 23
Austral Resources Australia Ltd Appoints Angus Peterson as Interim Chief Financial Officer Austral Resources Australia Ltd. announced the appointment of Angus Peterson as interim Chief Financial Officer (CFO) of the Company effective 22 August 2023. Angus has worked at Austral as Finance Manager since March 2021. Angus has been an auditor with KPMG, where he worked for over 9 years with both listed and private companies. In this role, he had a particular focus on energy and natural resources and spent over 2 years in Houston, Texas working with oil and gas clients. Angus also spent 2 years working as the Financial Reporting Manager for TerraCom Resources. The company announced that Luke Johnstone, Chief Financial Officer has taken a leave of absence with effect from 22 August 2023. Recent Insider Transactions • May 09
CEO, MD & Executive Director recently bought AU$162k worth of stock On the 4th of May, Daniel Jauncey bought around 591k shares on-market at roughly AU$0.27 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Daniel has been a buyer over the last 12 months, purchasing a net total of AU$2.1m worth in shares. Reported Earnings • Mar 01
Full year 2022 earnings released: AU$0.06 loss per share (vs AU$0.026 loss in FY 2021) Full year 2022 results: AU$0.06 loss per share (further deteriorated from AU$0.026 loss in FY 2021). Revenue: AU$54.8m (up 47% from FY 2021). Net loss: AU$29.8m (loss widened 154% from FY 2021). Annuncio • Feb 16
Austral Resources Australia Ltd Announces the Release of Scoping Study Prepared by CSA Global-That Examines the Viability of Constructing an Open Cut Mine At the Lady Colleen Project Austral Resources Australia Ltd. announce the release of a Scoping Study prepared by CSA Global-that examines the viability of constructing an open cut mine at the Company's Lady Colleen Project. The construction of this mine would add significantly to both Austral's copper production capabilities and its revenue base, which is already trending higher as Mt Kelly's output levels continue to ramp up. The Mineral Resources underpinning the production target have been prepared by a competent person in accordance with the JORC Code and announced on 28 October 2022 as Lady Colleen ore grade Increases by 200%. The next stage of project development commences with a Pre-feasibility Study. When that is completed (and the technical and economic viability of the Lady Colleen Project is confirmed by this Study) a timeframe for development and production will be finalised and communicated. Recent Insider Transactions • Jan 05
CEO, MD & Executive Director recently bought AU$131k worth of stock On the 4th of January, Daniel Jauncey bought around 611k shares on-market at roughly AU$0.21 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Daniel has been a buyer over the last 12 months, purchasing a net total of AU$1.9m worth in shares. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Non-Executive Director Michael Hansel was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Annuncio • Nov 10
Austral Resources Australia Ltd Announces Rock Chip Assays of 16.05% Cu Drive 2023 Drill Targets Austral Resources Australia Limited announced its planned development and exploration program for the remainder of calendar 2022 and the 1st half of calendar 2023. Austral's Exploration Strategy Progressed: As previously reported, Austral has committed to an annual exploration and development budget of $10 million. Austral's current total JORC compliant Mineral Resource Estimate of 60Mt @ 0.7%Cu, hosts 420,000t of contained copper 2. Within this headline number, mineralisation by type is approximately 50% sulphide, 25% transitional and 25% oxide. Austral is constantly reviewing this resource inventory, with the dual aims of expanding and commercialising it. The Company's key exploration activities continue to be: Extend mine life beyond the current four years at Anthill by discovering additional copper oxide ore: The focus in 2022 and 2023 are targets on existing mining leases and/or within 50km of the Mt Kelly SX-EW plant. Increase the current JORC compliant Mineral Resource estimate of 420kt of contained copper; Monetise Austral's current JORC compliant sulphide Mineral Resources of 210kt of contained Copper; Explore for primary copper and base metal sulphide mineralisation within the Company's vast 2,100km2 of exploration tenure. CY22 copper oxide exploration has systematically progressed: Lady Annie has an existing JORC Compliant resource of 12.2Mt @ 0.76% Cu at a 0.3% Cu cut-off2. Phase 1 exploration drilling is targeting geophysical targets. Exploration program details: Lady Treska - geophysical VTEM anomaly occurs with a coincidental gravity anomaly offset 100m to the west. This feature is comparable with the adjacent Lady Annie VTEM anomaly; · Big Nose - the largest geophysical gravity anomaly on ML displays a coincidental spatial distribution of high amplitude gravity with anomalous Cu in soils >500ppm; · Planned drilling in 2022 of prioritised 13 holes for 1,450m. All CHC & CCA in place. Access and drill pads are being developed. Anthill ML: Anthill is the current Austral Resources flagship with a JORC 2012 compliant resource of 13.8Mt @ 0.7% Cu2. During 2022 the area surrounding Anthill mine was reviewed using historical and newly acquired additional data. A significant amount of historical exploration work has been completed including surface sampling, drilling and mapping. This legacy work was integrated with additional information including; Following up on targets identified by previous explorers; Process freely available land satellite data and use the images to better delineate geological litho types, exposed mineralogy, and signify geological domain boundaries; Assess previous drill hole/exploration data in relation to new-found targets to determine whether additional ground truthing can be beneficial in proving additional resource; Geologic knowledge gleaned from exposures in the current mining operation has been integrated into the exploration design; Intended 34 holes for 3,630m. All CHC & CCA approvals in place. Pads and access completed; Planned holes have been reviewed and prioritised. The highest priority 19 holes total 2,200m. Further drilling of lower priority holes will be dependent upon results from the phase 1 drilling. McLeod Hill ML: The McLeod Hill prospect hosts a 2012 JORC-compliant inferred resource of 1.42Mt @ 0.49% Cu2. The inferred resource is strongly correlated with an outcropping zone of strongly developed hematite alteration running parallel to and adjacent to the McNamara Fault, a reactivated D1 structure. Details of the 2022 exploration program include: Surface sampling of around 500 rock chips over the southern area of McLeod's Hill ML has been completed; Planned drilling of 10 holes for 800m. All CHC & CCA in place. Pads and access completed. CY23 copper oxide targets: The key area of focus in Austral's CY23 copper oxide exploration program is located within the Company's Western Tenement Area (WTA). A key positive for the viability of any additional resource found in this area will be its economic haulage distance to the Lady Annie SX-EW plant. There are a number of strong copper oxide exploration targets across the WTA that are scheduled for exploration in CY23. Priority exploration targets within the WTA include: Drifter Prospect Area The Drifter prospect is located 15km NNE of Lady Annie. It hosts multiple historic prospects including: Drifter: Recent rock chip sampling includes assay results at 4.83% Cu. Historical drilling results include; 22m @ 1.23% Cu from 28m, including 5m @ 2.93% Cu from 39m (DRFB0025); 25m @ 0.93% Cu from 29m, including 2m @ 2.51% Cu from 39m (DRFC0011); 8m @ 2.36% Cu from 37m, including 2m @ 5.67% Cu (DRFC0008). Kechenaj: Historical drilling results include; 4m @ 1.34% Cu from 1m (DRFC0003); 4m @ 1.14% Cu from 4m (DRFB0030). Busy Bee: Recent rock chip sampling includes assay results at 16.05% Cu. Limited prior drilling did not return any significant assays. Lady Agnes: The Lady Agnes prospect is located 15km due north of the Lady Annie copper mine. The target in this prospect has significantly lower exploration maturity than the Drifter-Kechenaj area, but hosts many of the features necessary for copper mineralization and is considered reasonably prospective. The Lady Agnes prospect is located within the Gunpowder Formation and hosts a 1,800m long, +100ppm Cu soil anomaly confined between two NNE- to NE-trending structures. Limited drilling has been completed at Lady Agnes South with the bulk of the copper soil anomaly remains untested by drilling. Annuncio • Nov 05
Austral Resources Australia Ltd has completed a Follow-on Equity Offering in the amount of AUD 17 million. Austral Resources Australia Ltd has completed a Follow-on Equity Offering in the amount of AUD 17 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 2,702,703
Price\Range: AUD 0.37
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 43,243,244
Price\Range: AUD 0.37
Discount Per Security: AUD 0.02035
Transaction Features: Subsequent Direct Listing Annuncio • Oct 29
Austral Resources Australia Ltd Announces Completion of Update to Mineral Resource Estimate for the Lady Colleen Deposit Austral Resources Australia Ltd. announced the completion of an update to the Mineral Resource Estimate for the Lady Colleen deposit within ML 90170 neighbouring the Mount Kelly treatment plant and Mount Clarke mine. The lady Colleen deposit was defined by CST Minerals and last estimated and reported in 2013. The estimate concentrated on heap leach processing using a lower grade cut-off and large-scale blocks but included significant fresh sulphide material. Due to elevated calcium and magnesium as carbonate minerals over most of the Mineral Resource heap leach process was not viable and mining never commenced. Austral has undertaken the current drilling program and Mineral Resource estimate to refocus the Mineral Resource on principally a sulphide deposit for toll floatation treatment. Lady Colleen is 120 km north-northwest of Mount Isa by road and neighbours the Mount Kelly treatment plant and Mount Clarke Mines. The Lady Colleen deposit lies within a granted Mining Lease ML90170 and is held 100% by Austral Resources Operations Pty Ltd. The Lady Annie group of exploration tenements are located within the Western Mount Isa Block which consists of a north-trending belt of Proterozoic rocks (the Kalkadoon-Leichardt Belt), flanked by two belts of Middle Proterozoic rocks, known as the Eastern and Western Succession. The tenements are within the Western Succession with its most distinctive feature being the Mount Gordon fault Zone ("MGFZ"). The MGFZ is a 5 km wide, 120 km long, north-northeast trending, zone of faulting with associated shears, folds and extensive alteration plus localised base metal and gold mineralisation. In its central section the MGFZ bifurcates to form the subparallel Esperanza Fault while it truncates a series of major east-west fault sets including the Investigator and Redie Creek Fault. The Mount Kelly mining area is dominated by early to mid-Proterozoic siltstones and dolomitic siltstones of the McNamara Group. The rock sequence is folded about north-trending axes and is cut by several late-stage faults including the regional-scale, north-trending McNamara Fault and the north-northeast trending Mount Gordon Fault, which can be traced for over 150 km and 120 km respectively. Copper mineralisation occurs within units of the McNamara Group and is reportedly related to the northwest-trending Mount Kelly and Spinifex Faults, which intersect and cut the McNamara Fault. The known mineralisation is associated with multiple phases of brecciation and veining along the fault zones. Outside of the fault zones, the degree of fracturing, veining and copper mineralisation decreases, but is still evident up to 100 m away from the controlling faults. The main copper oxide mineral is malachite, with minor azurite, chrysocolla, cuprite and tenorite. The copper oxide mineralisation appears to be shear and fault controlled. The primary mineralisation consists of chalcopyrite and pyrite, concentrated in the matrix of breccia zones and in quartz-carbonate stockwork veins. At Lady Colleen the drill holes are on average oriented 60 toward azimuths of predominantly 220. Copper mineralisation at Lady Colleen consists of shallow dipping near surface oxide mineralisation and deeper sulphide mineralisation dipping 35 and striking 145. The Lady Colleen drilling database includes a variety of surface RC and diamond tail drilling over a 4 km2 area. The earliest drilling up until 2007 in Table 1 includes shallow drilling in peripheral areas with only one RAB drill hole (KB028C) intersecting the Mineral Resource domains. There is little available documentation for the pre 2010 drilling, and it is excluded from the Mineral Resource estimate as it is largely not relevant and alleviates data quality concerns. This removes all RAB and earlier RC drilling leaving only recent CST and Austral drilling to contribute to the Mineral Resource Estimate. CST and Austral reverse circulation ("RC") drilling used standard face sampling hammers, high pressure compressor and riffle splitting methods while diamond drilling ("DD") was predominately HQ triple tube size. Reverse circulation and earlier percussion methods were used to test near surface oxide mineralisation while diamond drilling was used for evaluating deeper generally sulphide mineralisation. Collar surveys were generally by DGPS using existing mine survey control points and down holes surveys were undertaken on 30 m intervals using a magnetic digital survey tool. CST and Austral RC and diamond drill sampling and collar and down hole surveys are considered suitable for reliable Mineral Resource evaluation. Lower quality RAB and early drilling with less survey control and quality assurance information have been excluded and are generally peripheral to the deposit drilling. CST and Austral RC samples were collected by cyclone and split using an onboard triple deck riffle splitter to generate a 1 in 8 split of the RC chips. Some 3 and 4 m composite sampling was undertaken in assumed waste zones, but if significant copper grades were returned, these were reassayed on the original 1 m sample intervals. CST and Austral diamond core were halved for sampling. All Austral core was orientated and reassembled for core cutting. CST and Austral samples were prepared for analysis by ALS using standard commercial laboratory processes. CST initial assaying was by aqua regia digest and ICP analysis. All assays over 0.3% Cu were reassayed using a three-acid digest and ICP analysis. Annuncio • Sep 28
Austral Resources Australia Ltd Announces Assay Results from Diamond Drilling Hole Program, Part of the In-Progress Lady Colleen Drilling Program Austral Resources Australia Ltd. announced assay results from the diamond drilling hole program, part of the in-progress Lady Colleen drilling program that includes Reverse Circulation drilling ("RC"). Lady Colleen ("LC") is located on an existing Mineral Lease (ML90170) and contains a JORC Mineral Resource Estimate of 7.9MT at 0.84% Cu. The quoted resource was calculated in 2013 by the previous mine owner and released by Austral in its IPO prospectus. As previously announced (3), Austral has commenced evaluation of the potential at LC for a lower tonnage, higher grade sulphide resource that could be economically open pit mined. Progress to date includes. Updating of the LC sulphide resource by an independent resource geologist, confirming the continuity of the higher-grade core of the LC resource. Pit shell evaluation of the updated LC sulphide resource with positive results warranting further detailed mine design and economic evaluation.: Integration of both the updated resource model and pit shells were then used to optimise the design of a now in-progress drilling program with multiple targets being identified; Infill of the current LC resource and upgrade portions of the Inferred Resource to Indicated and Measured status; Potential extensions of the resource within and immediately outside or adjacent to the Pit shells with step out drilling To the north and northeast of the current resource envelope targeting potential extensions of mineralisation along strike and down plunge, and Evaluation of the oxide and transitional cap over the sulphide resource. Drilling Update: Austral has now completed the drilling program with a total of 17 RC drill holes for 2,229.4m at LC. The drilling of a total of 6 DDH tails totalling 906.7m is in progress. All RC & DDH tail drillholes are sampled on 1m intervals and submitted to ALS Laboratory for analysis. Austral has previously and will continue to update the market as results for LC are received (4). Results to date have been outstanding and have: verified the current geologic resource model and validated the targeting strategy applied; increased knowledge on the structural and stratigraphic controls on high-grade mineralization; confirmed the continuity of the high-grade core at LC which remains open along strike to the north-west and down plunge to the north-east. Assays are detailed in Appendix 2. Significant intersections include: MTKCD086: 30.0m @ 2.35% Cu (from 201.0m downhole) Including 8.0m @ 3.55% Cu (from 209.0m downhole); Including 2.0m @ 6.77% Cu (from 215.0m downhole) Including 5.0m @ 5.74% Cu (from 223.0m downhole). MTKD011.: 31.2m @ 2.22% Cu (from 242.8m downhole) Including 15.0m @ 2.86% Cu (from 258.0m downhole) and 1.2m @ 9.96% Cu (from 292.0m downhole); MTKCD085: 13.0m @ 1.14% Cu (from 206.0m downhole) Including 1.0m @ 4.96% Cu (from 211.0m downhole). MTKCD086 & MTKD011 are both step-out holes targeting targeting potential extensions of high-grade mineralisation along strike and down plunge. The intersection in MTKCD086 is a 37m step out along strike to the north-west and 31m step out down dip to the north-west from MTKC0545 (16m @ 2.612% Cu from 177m). The intersection in MTKD011 is a 54m step out down plunge of MTKC0548 (33m @ 4.528% Cu from 168m). The intersections of high-grade mineralisation in both MTKCD086 and MTKD011 are open along strike and down plunge. Further drilling will be designed and completed to evaluate the potential continuation along strike and down plunge of the high-grade mineralisation. On completion of the drilling program and once all assays are received, the LC resource model will be updated to enable generation of a new Mineral Resource estimate which is expected in Fourth Quarter 2022. Program of Work: The extensive program of further work includes: The evaluation, identification, design and completion of required further drilling, including evaluation of the potential strike extent of the high-grade core, by end of September. Completion of the drilling program at LC, receipt of all assays, geological evaluation (including structure and mineralogy), updating the LC resource model, evaluation and classification of an updated Mineral Resource reporting in accordance with the JORC Code - by mid-October. Completion of a Scoping Study of the potential for extraction of LC sulphide resource through open pit mining of a lower-tonnage higher-grade portion of the existing sulphide Mineral Resource, including all costs relevant to having the material transported and processed at an appropriate sulphide concentrator. This includes; Drill core from the current drilling program will be utilised to generate a composite that is representative of the LC deposit that will be used for floatation test work and to the evaluate the metallurgical characteristics of the high-grade mineralisation. This ongoing evaluation of LC is a first step in assessing the potential to begin commercializing Austral's 210,000t of contained copper in sulphides to augment the Company's current 40,000t Anthill Mine copper production from the Anthill copper oxide mine. Annuncio • Sep 16
Austral Resources Australia Ltd Approves Scoping Study for the Lady Colleen Development Project Austral Resources Australia Ltd. announced that the Austral Board has approved a Scoping Study for the Lady Colleen (LC) Development Project. The scoping study has commenced to assess the potential of the LC Mineral Resource to support an open cut mining project. Lady Colleen is located on an existing Mining Lease (ML90170) within 2 km of the Mt Kelly processing facility where Austral is currently producing copper cathode from the Anthill mine. Existing infrastructure, which sits within granted mining leases, will also be available for the Lady Colleen project, including workshop, haul road, ROM pad, and camp. The current diamond drilling program at Lady Colleen is targeting extensions to the existing Mineral Resource Estimate as well as upgrading portions of the Inferred Resource to Indicated and Measured status. Drill core from the current drilling program will be utilised to create a composite that is representative of the Lady Colleen deposit, that will be used for flotation test work and to test the metallurgical characteristics of the ore. Lady Colleen contains a JORC Mineral Resource Estimate of 7.9MT at 0.84% Cu. The quoted resource was calculated in 2013 by the previous mine owner and released by Austral in its IPO prospectus. Work is currently underway with an independent resource geologist to incorporate the results from the existing drilling into an updated Mineral Resource Estimate for Lady Colleen. Austral are targeting a lower tonnage, higher grade sulphide resource that could be economically mined by open pit. Annuncio • Sep 07
Austral Resources Australia Ltd Announces New Drilling Results At Lady Colleen Include 5M @ 7.10% Cu Austral Resources Australia Ltd. announced assay results from the reverse circulation ("RC") drilling program, part of the in- progress Lady Colleen drilling program. Lady Colleen (LC) is located on an existing Mineral Lease (ML90170) and contains a JORC Mineral Resource Estimate of 7.9MT at 0.84% Cu. The quoted resource was calculated in 2013 by the previous mine owner and released by Austral in its IPO prospectus. As previously announced, Austral Resources has commenced evaluation of the potential at LC for a lower tonnage, higher grade sulphide resource that could be economically open pit mined. Progress to date includes. Updating of the LC sulphide resource by an independent resource geologist, confirming the continuity of the higher-grade core of the LC resource. Pit shell evaluation of the updated LC sulphide resource with positive results warranting further detailed mine design and economic evaluation. Integration of both the updated resource model and pit shells were then used to optimise the design of a now in-progress drilling program with multiple targets being; Infill of the current LC resource and upgrade portions of the Inferred Resource to Indicated and Measured status Potential extensions of the resource within and immediately outside or adjacent to the Pit shells with step out drilling To the north and northeast of the current resource envelope targeting potential extensions of mineralisation along strike and down plunge, and Evaluation of the oxide and transitional cap over the sulphide resource. Austral Resources has completed drilling a total of 17 RC drill holes for 2,475m at LC. The drilling of diamond tails totaling 655m is in progress for 6 RC drillholes. Assay results have been received for all the RC drillholes (except for 3 of the diamond tail pre-collars which will be reported once received). All RC & HQ drillholes are sampled on 1m intervals and submitted to ALS Laboratory for analysis. Austral will continue to update the market as results are received. Results to date have been outstanding and verified the current geologic resource model, validated the targeting strategy applied and confirmed the continuity of the high-grade core at LC which remains open along strike in both directions, as indicated. Figure 4 is a photo of drill cuttings from MTKC0628 over the sample interval 164-165m which returned an assay of 8.58% Cu. The colour of the drill cuttings and the elemental ratio of Fe:Cu:S as 2:2:1 suggest the primary copper sulphide is chalcocite rather than chalcopyrite. Mineralogy will be undertaken to further evaluate and confirm the sulphide species present at LC. MTKC0626 & 0627 are both infill holes targeting increased certainty of resource classification in the high-grade core of the LC resource. MTKC0628 is an extension /step-out hole on the northeast of the resource. This intersection is a 30m step out along strike to the ESE from MTKCD045 (32m @ 2.97% Cu from 159m). Further drilling will be designed and completed to evaluate the potential strike extent of the high- grade core. The extensive program of further work includes: The evaluation, identification, design and completion of required further drilling, including evaluation of the potential strike extent of the high-grade core. By end-September. Completion of the drilling program at LC, receipt of all assays, geological evaluation (including mineralogy) and updating the LC resource model to enable generation of a new Mineral Resource. By mid-October. Completion of a pre-feasibility study (PFS) of the potential for extraction of LC sulphide resource through open pit mining, including all costs relevant to having the material Evaluation of the appropriate Mineral Resource and Ore Reserve (dependent on the PFS outcomes) classification and reporting in accordance with the JORC Code. By mid-November. This ongoing evaluation of LC is a first step in assessing the potential to begin commercialising Austral's 210,000t of contained copper in sulphides to augment the Company's current 40,000t Anthill Mine copper production from the Anthill copper oxide mine. Reported Earnings • Sep 04
First half 2022 earnings released First half 2022 results: AU$0.052 loss per share. Revenue: AU$9.50m (down 59% from 1H 2021). Net loss: AU$23.5m (down AU$26.3m from profit in 1H 2021). Annuncio • Aug 10
Austral Resources Australia Ltd Announces Maiden Mineral Resource at Enterprise Austral Resources Australia Ltd. announced the completion of a maiden Mineral Resource for the Enterprise deposit within EPM 17527 in Austral's Eastern Succession tenement package. The Enterprise deposit was originally discovered and initially drilled out by CST Minerals' Lady Annie Exploration Pty Ltd. ("CST") in 2015 and 2016. Further work planned by CST was not completed due to budget constraints. Today's maiden Mineral Resource is classified as Inferred and reflects the broad 40m by 120m drill hole spacing. Austral has completed the maiden Mineral Resource estimate originally planned by CST to determine the next phase of resource definition infill drilling. The maiden Mineral Resource estimate, along with preliminary mining studies has indicated the potential for a small sulphide open pit mine with toll treatment potential at one of several regional copper processing mills. The Enterprise Mineral Resource warrants further work including drilling to test depth potential and infill current drill spacing, metallurgical evaluation and the measurement of density. The Enterprise deposit lies within EPM17527 and is held 100% by Austral. It is 22 km north of the Mount Cuthbert Mine site and 110 km north-northwest of Mount Isa. It is 6 km west of the Dobbyn mine site and 2 km east of the haul road that connects Mount Watson mine site to the Mount Cuthbert processing centre. Enterprise is within the Eastern Fold belt of the Mount Isa Inlier and is separated from other Austral operations around Lady Annie. The deposit is within ore transport distance to several local copper processing facilities at Mount Cuthbert that processes oxide ore by heap leach and Rocklands and Ernest Henry that process sulphide ore by flotation. EPM17527 which contains Enterprise lies predominantly within the Kalkadoon-Leichhardt Belt and the Mary Kathleen Zone of the Mount Isa Inlier. The principal deposits in the vicinity are hosted by lithologies assigned to the Kalkadoon-Leichhardt Belt. These include felsic metavolcanic rocks assigned to the Leichhardt Volcanics of Cover Sequence 1. Unconformably overlying the Leichhardt Volcanics is a sequence of regionally metamorphosed sedimentary rocks together with felsic-mafic volcanic rocks assigned to the Tewinga Group (Magna Lynn Meta-basalt and Argylla Formation). Calcareous sedimentary rocks of Cover Sequence 2 unconformably overlie the Kalkadoon-Leichhardt Belt rocks along the eastern margin of the Tenement. Granitoid rocks of the Kalkadoon Batholith, plus mafic sills and dykes have been emplaced into the Kalkadoon-Leichhardt Belt rocks prior to the deposition of Cover Sequence 2. The known copper mineralisation in the area is confined to shears or dilational zones and are typically developed at structure nodes. In addition, numerous smaller deposits and minor occurrences are spatially associated with the mafic intrusive bodies. Copper mineralisation occurs within quartz veins, on shear planes and as void fills. It was emplaced during late-D2 to late-D3 time. No mineralisation associated with D1 has been noted in the area. The deposits are predominantly small and oxidised to depths of up to 80 m. The depth of oxidation is generally related to the size of the shear or structure hosting mineralisation. Typically, the deposits are zoned from malachite/azurite and/or chrysocolla at surface to chalcocite, cuprite, tenorite, and native copper in the transition zone, to chalcopyrite at depth. The Enterprise copper mineralised zone at surface comprises malachite in quartz veins and a highly sheared (20° fabric) magnetic mafic unit (most likely an intrusive) over 250m, at the NW-SE trending contact zone between interpreted Leichhardt volcanic rocks to the SW and Kalkadoon granodiorite to the NE. This contact was the prime focus for the RC drill programme. The area surrounding the Enterprise Cu mineralisation has extensive sheet-wash cover obscuring most of the geology and potential mineralisation, limiting surface mapping. Available outcrop mapping. Annuncio • Aug 03
Austral Resources Australia Ltd Announces Drilling At Flying Horse Confirms 14M @ 2.23% Cu Austral Resources Australia Ltd. announced the drilling results from the Flying Horse diamond drilling program. Flying Horse (FH) is located on an existing Mining Lease (ML5447) and contains a JORC Mineral Resource Estimate of 14.2MT at 0.77% Cu. The quoted resource was calculated in 2013 by the previous mine owner. As previously announced, Austral Resources completed a 3-hole diamond drilling program for a total of 712m at Flying Horse to provide fresh ore samples for a metallurgical test work programme. This program evaluates the suitability of Mt Kelly sulphide (chalcopyrite) mineralisation for an emerging sulphide heap leach SX-EW technology. If the evaluation is positive, there is potential for Austral to have an additional processing solution relative to conventional flotation for its sulphide resource base of 26.5Mt@ 0.8% Cu. Austral Resources has completed drilling a total of 3 diamond drill holes for 712m at Flying Horse. Drilling results to date have verified the current geologic resource model and the targeting strategy applied with outstanding results. Significant intersections include; MTKD010. 19m @ 1.69% Cu (from 66m downhole) MTKD081. 14m @ 2.23% Cu (from 122m downhole). 11m @ 2.3% Cu (from 146m downhole). MTKD082. Refer Figure 6 5m @ 2.06% Cu (from 125m downhole). 7m @ 1.02% Cu (from 244m downhole). 6m @ 1.65% Cu (from 264m downhole). Annuncio • Jul 28
Austral Resources Australia Ltd Announces Lady Colleen Drilling Update Austral Resources Australia Ltd. announced Lady Colleen Drilling Update. Highlights: Updated resource model and resultant pit shell evaluation confirm potential, identify - drilling target - Drilling has commenced at Lady Colleen with observations of both oxide and sulphide mineralisation - Austral to accelerate assessing the potential for economic extraction of copper sulphide resource at Lady Colleen. Lady Colleen (LC) is located on an existing Mineral Lease (ML90170) and contains a JORC Mineral Resource Estimate of 7.9MT at 0.84% Cu. The quoted resource was calculated in 2013 by the previous mine owner. As previously announced 2, Austral Resources has commenced work to re-evaluate the current global resource, with a focus on the current sulphide resource. The intent is to determine the potential at LC for a lower tonnage, higher grade resource that could be economically open pit mined. Progress to date includes. Completed update and re-calculation of the LC sulphide resource by an independent resource geologist, confirming the continuity of the higher-grade core of the LC resource. Pit shell evaluation of the updated LC sulphide resource with positive results warranting further detailed mine design and economic evaluation Integration of both the updated resource model and pit shells were then used to optimise the design of a now in-progress drilling program with multiple targets being; Infill of the current LC resource and upgrade portions of the Inferred Resource to Indicated and Measured status - Potential extensions of the resource within and immediately outside or adjacent to the Pit shells with step out drilling - To the north and northeast of the current resource envelope targeting potential extensions of mineralisation along strike and down plunge, and - Evaluation of the oxide and transitional cap over the sulphide resource. Resource Update and Pit Optimisation: The resource model displayed in the following images has not been reported in accordance with JORC, and the economics used for pit shell evaluation are based on Austral internal estimates as at 7 July 2022 Open pit optimisation of the Lady Colleen deposit has been undertaken to justify further drilling and provide insight into potential targets to improve the value of the project. The geologic resource model was updated in June 2022, and the inputs used for optimisation are Austral internal estimates. Analysis and resultant drill design was targeted at the inferred and unclassified material between the base pit shell and +5% increased revenue factor (RF) shell to evaluate the potential to improvepredicted grades in this volume and to seek to increase the potential metal yield and value of theproject. Drilling Update: This overview of drilling is preliminary in nature based on incomplete information and will beupdated once laboratory assays are received in August or September 2022.Austral Resources is in the progress of drilling a total of 17 RC drill holes for 2,475m at LC, with 6 of the(not yet drilled) RC drillholes having diamond tails totalling 655m. A plan view of collar locations andsections lines is displayed in Figure 1, with section lines displayed in Figures 2 & 3. Drillhole designdetails are listed in Table 2.Drilling results to date have validated the continuity of the revised geologic resource model and thetargeting strategy applied. All RC drillholes targeting oxides are completed and have variable widthsof visible copper oxide, occurring predominantly along fracture coatings. The highest visible oxidesintersected to date at Lady Colleen are in MTKC00624 (Figure 4).All RC drillholes completed to date targeting sulphides have intersected variable widths of visiblepyrite and chalcopyrite, with the sulphide content varying from disseminated to semi massive. Thehighest visible sulphides intersected to date at Lady Colleen are in MTKC00626 (Figure 5).All RC drillholes are being sampled on 1m intervals and submitted to ALS Laboratory for analysis andwe will update the market as soon as results are received. On completion of the drilling programand once all assays are received, the LC resource model will be updated to enable generation of anew Mineral Resource estimate that will be reported in accordance with the JORC Code.Further work includes: Completion of the drilling program design at LC, receipt of all assays, geological evaluation and updating the LC resource model to enable generation of a new Mineral Resource estimate that will be reported in accordance with the JORC Code. To be completed by the end of September. Evaluation and optimisation of pit shells generated from updated resource model using current financial inputs and detailed mine design. To be completed by the end of September Economic evaluation of the potential for extraction of LC sulphide resource through open pit mining, including all costs relevant to having the material transported and processed at an appropriate sulphide concentrator. To be completed by the end of October. This ongoing evaluation of LC is a first step in assessing the potential to begin commercialising Austral's 210,000t of contained copper in sulphides to augment the Company's current 40,000t AnthillMine copper production from the Anthill copper oxide mine. Recent Insider Transactions • Jul 07
Executive Director recently bought AU$125k worth of stock On the 30th of June, Dan Jauncey bought around 244k shares on-market at roughly AU$0.52 per share. In the last 3 months, they made an even bigger purchase worth AU$849k. Insiders have collectively bought AU$1.7m more in shares than they have sold in the last 12 months. Annuncio • Jun 28
Austral Resources Australia Ltd Announces CEO Change Austral Resources Australia Ltd. advised that the Company's CEO, Steve Tambanis, and the Company, have mutually decided to not renew their consulting contract that expires on 31 July 2022. Mr. Tambanis joined the Company in July 2021 and has made a significant and valuable contribution to the commencement of mining at Anthill and initiation of Austral's exploration and development strategy. Dan Jauncey will remain as Executive Director and take on the CEO role as of 1 August 2022. Mr. Jauncey has prior experience in this role and will be responsible for the business as a principal executive officer. Recent Insider Transactions • Jun 22
Executive Director recently bought AU$760k worth of stock On the 20th of June, Dan Jauncey bought around 2m shares on-market at roughly AU$0.45 per share. In the last 3 months, they made an even bigger purchase worth AU$849k. Insiders have collectively bought AU$1.6m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Jun 15
Executive Director recently bought AU$849k worth of stock On the 10th of June, Dan Jauncey bought around 2m shares on-market at roughly AU$0.53 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$852k more in shares than they have sold in the last 12 months. Annuncio • Jun 14
Austral Resources Australia Ltd Provides First Anthill Copper Cathode Update Austral Resources Australia Ltd. announce that the first Anthill copper cathode has been produced, successfully completing an intensive mine development and plant commissioning since listing eight months ago. This paves the way for Austral to meet its stated objective of producing copper cathode at a rate of 10,000tpa from mid 2022. The most important aspect is that the operation is de-risked and comfortably ramping-up to design capacity of 10,000tpa cathode. With that comes increased sales revenue and cashflow. Annuncio • Jun 07
Austral Resources Australia Ltd Provides an Exploration and Development Update Following Commencement of Anthill Ore Processing at its Mt Kelly Heap Leach SXEW Plant Austral Resources Australia Ltd. provided an exploration and development update following commencement of Anthill ore processing at its Mt Kelly heap leach SXEW plant. Austral expects to be producing 10,000tpa of copper cathode from mid-2022, enabling self-funding of exploration and development activities. The focus is on discovering additional oxide copper ore to augment Anthill oxide feed, increase the current sulphide resource base and to explore for large scale copper and base metal mineralisation within the large 2,100 km of exploration tenure. Austral intends to fund exploration through a $10 million per annum exploration budget over the next four years and by selective joint venturing of portions of its tenure holdings to enhance discovery potential. Austral's key objectives are to: Extend Austral's mine life beyond the current four years at Anthill by discovering additional oxide ore Increase the current JORC Mineral Resource Estimate (MRE) of 420,000t of contained copper Commercialise Austral's sulphide resources (210,000t of contained copper) The company has commenced activities on all three key objectives. Austral's copper resource inventory Austral has a total JORC compliant Mineral Resource Estimate of 60Mt @ 0.7%Cu, hosting 420,000t of contained copper. Mineralisation by type is approximately 50% sulphide, 25% transitional and 25% oxide. The majority of sulphide mineralisation is located within the Mt Kelly ML. This resource inventory is being reviewed for its potential to be expanded and commercialised: Oxide mineralisation exploration to augment Anthill feed to the Mt Kelly plant; Sulphide mineralisation is being evaluated for: Potential to be mined and sold to a concentrator; Potential for processing through a conventional concentrator onsite, should sufficient sulphide mineralisation be defined to justify the capital investment; Potential to be hydrometallurgically processed on site using existing heap/SXEW infrastructure. This is under investigation. Transitional ore is being evaluated for suitability to augment sulphide ore feed. Lady Colleen Sulphide Resource: The resource is predominantly sulphide and was calculated in 2013 by the previous mine owner. At historic high copper prices (USD 10,000/t) it sees potential to high-grade the current 5.9Mt @0.89% Cu sulphide resource by increasing the cut-off grade from the current 0.3% Cu to 0.5% Cu to determine the size of a lower tonnage but higher-grade resource. Subject to positive economics from a detailed mining study, there is potential to mine and sell this ore to a third-party concentrator. There is also potential to increase the size of the sulphide resource by drilling to the north and northeast of the current resource envelope where it sees scope for additional mineralisation along strike and down plunge. As such, Austral is commencing the following evaluation programme: Have an independent resource geologist re-calculate the current Lady Colleen sulphide resource using a higher cut-off grade. This is underway. 2. Evaluate the potential for gold credits in sulphides. Evaluate the overlying transitional mineralisation for potential as additional ore for sale. Drill additional holes within the current resource estimate shell to validate historic drilling (1,400m). Drill additional holes on the periphery of the current resource shell where geologists have identified the potential to extend mineralisation to the northeast and down plunge (3,600m). Plan three deeper holes to test the potential for a stacked lode system beneath Lady Collen. Prepare a drill plan to infill drill the Lady Colleen resource and elevate portions of Inferred resources to Measured and Indicated status.Conduct an economic study to determine the viability of open cut mining the upper sulphide resource. This has the potential to begin commercialising Austral's 210,000t of contained copper in sulphides to augment the Company's current 40,000t Anthill Mine copper production. Flying Horse Drill Programme: An initial three-hole drill programme (721.2m) was completed in May to collect fresh sulphide core for metallurgical test work. Diamond core is being prepared for assay and initial samples will be sent for first stage ore characterisation and amenability to leaching. Dividend Prospect: Drilling scheduled to commence in June at the Dividend prospect 2.5 km southeast of the Mt Kelly ML open pits and 5km east of the Mt Kelly processing plant. The prospect is highlighted by a robust copper soil anomaly with outcropping ironstone ridges running east west within the Paradise Creek Formation. The prospect was drilled previously on 200m spaced lines intersecting broad low to moderate grade oxide copper mineralisation. The mineralised horizon is strongest to the east of the tenement and lies between two structures mapped by CRAE in 1992. The current 3,000m program is designed to infill and extend the mineralisation. Previous intercepts include 44m @ 0.4% Cu & 0.79g/t Au from 20m (MK512). There are also significant near surface gold intersections toward the east of the prospect with one intersection of 38m @ 0.34g/t Au from 2m (MK498). A 4,650m drill programme has been designed to test Lady Treska (800m), Brenda southwest (600m), other gravity targets (2,500m) and various copper oxide targets falling outside of current domain bounds (750m). Board Change • Apr 27
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. No independent directors (4 non-independent directors). Executive Director Dan Jauncey is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Annuncio • Apr 26
Austral Resources Australia Ltd Provides an Exploration Update and Announce the Commencement of an Extensive Exploration Programme Austral Resources Australia Ltd. provide an exploration update and announce the commencement of an extensive exploration programme. The Company's exploration team is driving an intensive drilling campaign in 2022. The focus will be on drilling historical and new prospects on granted Mining Leases ("MLs") to organically grow the Company's large JORC complaint copper ("Cu") resource base, and to extend Austral's mine life. Mt Kelly deposits consists of a cluster of mined Cu pits (Flying Horse and Mt Clarke), an unmined resource at Lady Colleen, adjacent Cu occurrences such as Dividend and Swagman, and McLeod Hill to the south. Flying Horse, Lady Colleen and Mt Clarke account for 24.74Mt of the Company's 30Mt JORC Mineral Resource Estimate, and the exploration team has identified potential for new work to increase resource tonnes. Historical drilling at the Mt Kelly group of deposits reported wide intervals of high-grade sulphide Cu, including: Lady Colleen: 32m@ 4.63% Cu/0.18g/t Au from 169m (MTKC0548); Flying Horse: 11m@ 2.9% Cu/0.05 g/t Au from 334m (MTKCD029); Mt Clarke: 6m@ 2.34% Cu/0.11g/t Au from 134m (MTKCD011). This deposit is located 5km southeast of the Mt Kelly processing facility on Mining Leases (MLs). Mineralisation is controlled by structural features such as shear zones and faults interacting with permissive stratigraphy, suggesting potential for larger scale `replacement type' mineralised systems. The southern 400m of the host shear within the ML is untested. A high-density composite rock chip sampling program is in progress to define the southern extentwith 250 samples collected of a 500-sample program on a 100 x 25m grid. Reported Earnings • Apr 04
Full year 2021 earnings released: AU$0.026 loss per share (vs AU$0.051 loss in FY 2020) Full year 2021 results: AU$0.026 loss per share (up from AU$0.051 loss in FY 2020). Revenue: AU$37.3m (up 57% from FY 2020). Net loss: AU$11.7m (loss narrowed 48% from FY 2020). Annuncio • Apr 01
Austral Resources Australia Ltd Announces First Ore Haulage from Its New Anthill Mine to the Mt Kelly Processing Plant and the Intention to Begin Anthill Ore Processing by the End of April 2022 Austral Resources Australia Ltd. announced first ore haulage from its new Anthill Mine to the Mt Kelly processing plant and the intention to begin Anthill ore processing by the end of April 2022. summarizes planned production for the rest of 2022: Ore deliveries have commenced and will build to 150kt/month in May 2022. Ore stacking onto the heap leach to commence late April. Anthill copper cathode production to begin in May 2022 with projected production of: 380t in May 2022, 760t in June 2022 and >1,000t per month from July 2022. Strong revenue growth from May 2022 aided by a >25% higher copper price than Austral's 2021 Independent Technical Assessment Report. Annuncio • Feb 15
Austral Resources Australia Ltd Announces Appointment of Michael Hansel as Non-Executive Director Austral Resources Australia Ltd. announced the appointment of Mr. Michael Hansel as a non-executive director, effective today. Michael is a Corporate Partner of HopgoodGanim Lawyers specialising in mergers and acquisitions, IPO's, corporate governance, capital raisings, takeovers and joint ventures. Michael acts for a number of ASX-listed entities and large domestic and foreign private companies in the resources sectors. Michael has previously held a non-executive director position with ASX listed Metro Mining Limited. Michael has consistently been recognised as a leading corporate, business & commercial lawyer by various legal publications including Doyle's Guide and The Best Lawyer TM. His appointment will be put forward to shareholders for ratification as an ordinary resolution at the upcoming Annual General Meeting of the Company in May 2022. Annuncio • Jan 12
Austral Resources Australia Ltd Announces the Commencement of Mining At Anthill Austral Resources Australia Ltd. announced the commencement of mining at Anthill. This follows several months of site preparation to establish site infrastructure, mobilize plant, clear the pit areas, and prepare haul roads. The Mount Kelly processing plant refurbishment is proceeding to schedule with the crushing circuit at 70% completion and work underway at the heap leach solvent extraction plant to process Anthill ore in the second quarter of 2022. Commencement of bulk mining at Anthill on 7 January 2022 represents a key development milestone for Austral's copper production strategy. In two short months since listing on the ASX, Austral's team of employees and contractors have safely managed the transformation of a paddock into a mine. The mining fleet was mobilized whilst the site team cleared the pit areas, established haul roads and ROM pad, installed site infrastructure, then began drilling and blasting. Mining commenced on 7 January with one excavator and two trucks on dayshift. A second excavator and trucks will begin bulk mining this week and the operation will commence mining on both a dayshift and nightshift. Drilled and blasted volumes are well ahead of schedule with 430,000bcm ready for mining. This should see Anthill achieve planned development tonnages by the end of January and first ore mined in April 2022. The Mount Kelly facility is being prepared to process Anthill ore from Second Quarter this year. The crushing and heap leach ore stacking circuit refurbishment is approximately 70% complete and on schedule to begin trial commissioning in late February. Work includes conveyor belt replacement, electrical test work, structural repairs, secondary crusher rebuild, safety guarding and agglomerate relining. The electro winning circuit is being readied to increase production from the current 5tpd of copper cathode to 30tpd by mid 2022, corresponding to 10,000tpa of cathode production. Board Change • Nov 03
No independent directors There are 3 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). Executive Director Dan Jauncey is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors.