The Company’s aim is to increase shareholder value through the discovery and development of valuable mineral deposits and to reduce the Group’s geographical, technical, permitting and commodity risk exposure.
The strategy is to build and explore a new multi-commodity project portfolio and to operate only in stable, democratic and mining friendly jurisdictions.
The principal activities of the Group are the identification, acquisition, exploration and development of mineral deposits including precious metals, base metals and industrial minerals in Nevada, USA and northern Europe.
For exploration projects, the Group prefers to acquire 100% ownership of mineral assets at minimal cost. This involves either applying for exploration licences from the relevant authority or negotiating rights with existing project owners for initially low periodic payments that rise over time as confidence in the project value increases.
The Group currently operates with a low-cost base to maximise the funds that can be spent on exploration and development – value adding activities. The Company has five full-time employees including the Executive Chairman who work with and oversee carefully selected and experienced consultants and contractors.
Administration costs are reduced via an arrangement governed by a Management Services Agreement with Sunrise Resources plc, whereby Sunrise Resources pays a share of the cost of head office overheads.
The Company’s activities are financed by periodic capital raisings, through share placings or share related financial instruments. When projects become more advanced, or as acquisition opportunities advance, the Board will seek to secure additional funding from a range of various sources, for example debt funding, pre-financing through off-take agreements and joint venture partnerships.