Our Mission
Is to build a portfolio of investments and maximise shareholder value from the current investment portfolio.
Our Strategy
The Company's current strategy is that of identifing and pursuing investments in mineral and energy resources.
The Company has, along with the new Directors, identified joint venture exploration opportunities in Australia as set out below. The Company will continue to identify opportunities in the mineral and energy sectors in line with the revised investment strategy detialed in the circular to shareholders which was approved at the Extraordinary General Meeting on 30 June 2008.
The Company has entered into a joint venture agreement with ASX listed company, Burey Gold Limited. Under the terms of the joint venture agreement the Company has committed to acquire a 10 per cent. joint venture interest in each of the tenements described in the circular to shareholders by committing to incur minimum expenditure of A$130,000. The exploration expenditure over the coming year is likely to include expenditure in respect of data acquisition and interpretation, site survey (including gravity, magnetic, radiometric and TEMPEST orientation surveys and geophysical modelling) date interpretation, project assessment and preparation of a drilling plan and drilling. The Company has the right to increase its holding in all three tenements by a further 25 per cent. and then by 55 per cent. on incurring a further aggregate expenditure of A$500,000 and A$1,500,000 in years 2 and 3 respectively. If the Company contributes in full it will have a 90 per cent. interest in the joint venture.