"Takeover Tony"

Takeover Tony returns after project hunt

IN HIS first presentation as managing director of Carbine Resources, Tony James has explained what it was about the company’s Mount Morgan project that attracted him.

· Kristie Batten

· 25 May 2016

· 7:00

· News

Tony James.

In the past two year, James has led Mutiny Resources, acquired by Doray Minerals, and Atherton Resources, bought out by Auctus Chillagoe, earning him a following (as well as the nickname “takeover Tony”).

Since November, when he left Atherton, James has looked at around 25 projects.

“I tried to find something that fit in with me and my experience,” he told the Resources Rising Stars conference on the Gold Coast yesterday.

After looking at Mount Morgan once, he gave it a second look, finding it “compelling”.

Mount Morgan, in Queensland, is a tailings retreatment project, recovering gold, copper and pyrite over an eight-year life at estimated all-in sustaining costs of just $US234 an ounce.

“That was the one thing that kept dragging me back to this project – the numbers,” James said.

Following last year’s prefeasibility study, Carbine is aiming to have a definitive feasibility study out in August.

“We’re hot to trot on getting our DFS done,” James said.

“This project needs to go ahead.”

If all goes to plan, Carbine could be in production at the historical site next year.

“This is a feel-good project,” James said.