Austral Resources Australia

Austral Resources Australia Ltd (ASX:AR1) is a copper cathode producer and copper miner operating in the Mt Isa region, Queensland, Australia. In addition to its production plant and mine assets, the Company holds 2,147km2 of highly prospective exploration tenure comprised of 38 EPMs with 2 EPM applications waiting approval before end of 2022. Under the finalised Earn-in Agreement with Glencores Mount Isa Mines (MIM), Austral can spend A$2.0M over 4 years to earn-in up to a 65% interest of a further 116km2 of tenure. Austral has committed to an annual A$10M exploration budget targeting both oxide copper and copper sulphide in the heart of this world class copper and base metals province. The Company holds 15 Mining Leases covering 53km2. Australs Mt Kelly copper oxide heap leach and solvent extraction electrowinning (SX-EW) plant has a nameplate capacity of 30,000tpa of copper cathode. This facility expects to produce 40,000t of copper cathode over a four-year period from mid-2022....