Company Overview Republic Gold Limited (RAU) is exploring for refractory gold deposits, antimony, tungsten and Tin in far North QLD. The Company also has a Cu/Au project in NSW, Lucky Draw that includes the Lloyds Mine at Burraga (75% owned), an old high grade (3.7%) Cu mine -- recent drilling indicates a polymetallic deposit. In early December the Board announced that it had made an offer to purchase the Mt Carbine tungsten (W) mine. When it closed in 1986 Mt Carbine was one of the world’s largest W mines.
Company History A number of drilling programs are currently in progress at its Hodgkinson Basin and Burraga projects. A resource base of 0.75Moz is being targeted at Hodgkinson Basin through exploration drilling on new targets. The Company has commenced negotiations with the vendor of the Mt Carbine assets and the vendor has agreed to extend the exclusivity agreement to enable the parties to reach a mutually agreed purchase price. A share placement of 60M shares raised $2.3M in September.
Differentiating Factor Republic is a junior exploration company focused on gold, antimony & tungsten. It is one of few listed companies focused on exploring in the Hodgkinson Basin & the only one looking for refractory style, gold mineralisation. The Company has significant experience in open cut mining & heap leach gold processing & plans to use bacterial oxidation technology to treat the gold-bearing, sulphide ores. The Company has the backing of a significant group of Malaysian Chinese investors. Major Customers & Competitors As an explorer, Republic only deals with the providers of its required exploration inputs including drilling contractors, assay laboratories and technical consultants. Once it is in production it will sell its product to the spot market and any hedge contracts that it may enter into.
BIG Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
