Metals Australia

Metals Australia Ltd (Metals or the Company) is an Australian exploration company listed on the Australian Securities Exchange under the symbol MLS. Metals operates in the mineral resource sector, with a focus on exploration for uranium in Namibia, base metals in Western Australia and gold in the state of Victoria, Australia. The Company holds Excl... usive Prospecting Licences over two uranium prospects at Mile 72 (EPL 3308) and Engo Valley (EPL 3306) in the Republic of Namibia, south western Africa. Some of the highest worldwide uranium grades in recent times have been recorded in surface outcrop and in shallow pits at Mile 72. Metals has entered into a new phase of exploration at Mile 72, targeting a large high-tonnage moderate grade primary deposit of a similar style to the Rössing and Husab mines to the south. In Western Australia, Metals holds an interest in two base metals projects. The Manindi Zinc Project is located around 500 km northeast of Perth and is being explored by Metals with a view to expanding the existing zinc-copper resources and examining the project's newly recognised copper and nickel mineralisation potential. The Sherlock Bay Base Metal Joint Venture Project is located in the Pilbara region, and is being managed and explored by Australasian Resources Ltd (ARH). The project surrounds ARH's Sherlock Bay nickel deposit, and is prospective for nickel, copper, silver and gold mineralisation. In western Victoria, Metals holds two low impact exploration licences; the St Arnaud South (EL5242) and Wedderburn (EL5243) projects. These projects contain significant historic workings that have received little modern and systematic exploration. Metals' exploration portfolio supports a business model designed to facilitate the discovery and development of economic mineral deposits. The combination of extensive corporate and exploration experience within a lean corporate structure provides the most effective use of shareholders' funds.Read More