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Developing low CO₂ natural gas resources in the Beetaloo Sub-basin of the Northern Territory

IPO underwritten up to approx $48.6 million. OnMarket has a limited allocation.

Tamboran Resources Ltd (ASX: TBN) is a public company that intends to play a constructive role in the global energy transition towards a lower carbon future by developing low CO2 unconventional natural gas resources in the Beetaloo Sub-basin in the Northern Territory of Australia. 

With interests in three exploration permits, including a JV with Santos at EP161, Tamboran has estimated net prospective resources of 31 Tcf. Their aim is to provide affordable gas to local Northern Territory markets and supply gas to the east coast of Australia to meet forecast domestic gas shortfalls.

Copper/gold focused explorer and developer with leading position in the Chillagoe region, North Queensland

R3D Resources Limited (ASX: R3D) through the acquisition of Tartana Resources Limited aims to become a significant copper-gold explorer, developer and producer in the Chillagoe Region in North Queensland.  These projects vary in maturity from granted mining leases, mining lease applications and exploration permits. The Tartana mining leases contain an existing heap leach – solvent extraction – crystallisation plant which has been held in care and maintenance since 2014. Work has begun to restart this plant to provide future cash flow through the sale of copper sulphate.

In Tasmania, Tartana has secured permits to excavate and screen to export a further 335,000 tonnes of low-grade zinc furnace slag/matte from its Zeehan stockpiles in Western Tasmania, and recently commenced its 5^th 22,000 tonne shipment of zinc slag to South Korea.

Gold explorer with two strategically located exploration licences and significant geological potential

Polymetals Resources Ltd (ASX: POL) owns two exploration licences within the Siguiri Basin in Guinea, West Africa. The Siguiri Basin occupies the north-eastern corner of Guinea and hosts several large active gold mining operations and is notable for its widespread gold anomalism. The region is considered prospective and relatively immature from an exploration perspective and produces over 500,000 oz of gold/year. The nearby AngloGold Ashanti Siguiri Gold Mine, has produced more than six (6) million ounces over its 20-year life.

The licence area is host to many historic and current small scale gold mining operations. The results of inititial soil sampling confirmed that 18 km² or 16% of the area surveyed reported gold values in excess of 40ppb Au.