Feb 16, 2021

New listing brings Chillagoe package to the bourse

New listing brings Chillagoe package to the bourse

R3D Resources has launched its $4.25 million public offering, boasting a portfolio of Chillagoe copper-gold assets through the acquisition of Tartana Resources.

The merged company has a target listing date of March 30 and an indicative market cap of $21 million.

Assets include the Tartana copper project, where re-establishing copper sulphate production using the existing processing infrastructure is described as offering short term to medium term cashflow.

Tartana also holds the Bellevue and Dry River exploration projects, Dimbulah porphyry copper project, the Mountain Maid and
Cardross copper/gold projects, and an exclusivity/option agreement to purchase the Nightflower silver project.

And last month it negotiated a purchase agreement with Newcrest for the Bulimba project, covering more than 1250sq km in the Chillagoe region.

It also has two earlier stage small exploration properties: Mount Hess copper-gold project in Central Queensland and the Amber Creek molybdenum-tin-tungsten project in North Queensland.

The company also holds a Tasmanian zinc project covering low-grade furnace slag/matte stockpiles near Zeehan.

Tartana Resources has exported two 22,000 tonne trial shipments to South Korea with a third shipment being processed.