Company name: AUTECO MINERALS LTD
Incoming Capital Raise will place AuTECO in a strong position to accelerate resource growth which includes plans for 700m of underground exploration development and 40,000m of diamond drilling, a plan to grow the Green Bay Resources as quickly as possible. The board believes this program will be catalyst rich, with consistent news flow and this is where the potential immediate value uplift for shareholders will arise.
- The Green Bay Cu-Au project has a Resource of 39.2Mt at 2.1% for 811,000t CuEq1, of which 68% is in the Measured and Indicated category. It has immense potential for resource growth, with a host of outstanding intersections down plunge of the existing resource including: 22.6m @ 4.4% Cu, 18.0m @ 4.6% Cu, 19.2m @ 10.3% Cu (all ~true width) 102m @ 1.7% Cu true width (~460m step-out from the previous hole, deepest hole drilled)
- The purchase comes with +A$250M of infrastructure, including an accessible decline, extensive underground development, a 650m shaft, processing plant, port infrastructure and adjacent hydro power.
- AuTECO will be economically positioned to take advantage of the copper supply gap over the next 10 years. According to McKinsey, global electrification is expected to increase annual copper demand to ~36.6 million tonnes by 2031, compared to the current demand of roughly 25 million tonnes. The consultancy firm forecasts copper supply to be around 30.1 million tonnes, leaving a gap of 6.5 million tonnes by the start of next decade. The majority of infrastructure is built (if not all) to support renewable energy uses large amounts of copper, as the metal is a highly efficient conductor of electricity and heat, in short, the road to reaching net zero begins and ends with copper.
- The Green Bay Copper-Gold Project currently hosts a mineral resource prepared in accordance with Canadian NI 43-101 of 39.2Mt at 2.1% for 811,000t CuEq. The Company has a clear strategy to rapidly grow the copper-gold resource to demonstrate a globally significant copper-gold asset. AuTECO intends to immediately commence a 40,000m diamond drilling program.
- Pickle Crow Gold Project - AuTECO holds a 70% interest in the high-grade Pickle Crow Gold Project in Ontario. The current Inferred Resource stands at 11.9Mt at 7.2g/t for 2.8Moz gold, with exceptional discovery potential on the 500km2 tenement holding.
- Limestone Well Project- The Company also holds a 90% interest in the Limestone Well Vanadium-Titanium Project in Western Australia. The Limestone Well vanadium tenements lie north along strike from the Neometalis-owned Barrambie titanium-vanadium deposit, approximately 90km southeast of Meekatharra – Murchison district, Western Australia.
- Incoming Managing Director – Steve Parsons, has a +20year established track record for rapid growth which includes experience in the mining industry, proven track record of mineral discoveries and corporate growth. Mr Parsons was previously the Managing Director of Gryphon Minerals Ltd, which he founded and listed on the Australian Securities Exchange, growing the company to be included on the ASX 200. In addition, Mr Parsons founded Bellevue Gold Ltd (ASX:BGL), developing One of Australia’s Highest-Grade Gold Mines, with a Mineral Resource of 3.1Moz, as of the 8th of September 2023, BGL’s market cap sits at ~1.58billion.
- AuTECO boasts a highly experienced Board and Management Team, have extensive hands-on operational experience in resource exploration, permitting, financing, building and commodity production in Australia and around the world. Subject to shareholder approval of the acquisition, founding Bellevue Gold Ltd (ASX:BGL valued ~1.58b) Managing Director Steve Parsons will be appointed AuTECO Managing Director and founding Bellevue Director Michael Naylor will be appointed Executive Director.
AUTECO MINERALS LTD (AUT) is an ASX-listed, AuTECO Minerals Ltd (ASX:AUT) is an emerging copper-gold company focused on advancing high-grade Green Bay Copper-Gold project in Newfoundland, Canada. The Green Bay Copper-Gold Project currently hosts a mineral resource prepared in accordance with Canadian NI 43-101 of 39.2Mt at 2.1% for 811,000t CuEq. The Company has clear strategy to rapidly grow the copper-gold resource to demonstrate a globally significant copper-gold asset. AuTECO intends to immediately commence a 40,000m diamond drilling program.
Pickle Crow Gold Project - AuTECO holds a 70% interest in the high-grade Pickle Crow Gold Project in Ontario. The current Inferred Resource stands at 11.9Mt at 7.2g/t for 2.8Moz gold, with exceptional discovery potential on the 500km2 tenement holding.
Limestone Well Project- The Company also holds a 90% interest in the Limestone Well Vanadium-Titanium Project in Western Australia. The Limestone Well vanadium tenements lie north along strike from the Neometalis-owned Barrambie titanium-vanadium deposit, approximately 90km southeast of Meekatharra – Murchison district, Western Australia.
DISCLAIMER: ‘The information does not constitute personal financial advice. Consult your adviser or broker prior to making any investment decision.
For further information about this company, email – shareholder@pelshare.com.au
