Minotaur Exploration Ltd (ASX: MEP) is a mineral resource company with a portfolio of exploration and development projects and a 50% interest in a new technology venture.
|Eloise JV||Qld||OZL 70% MEP 30%|
|Copper - Gold||Jericho JV||Qld||OZL 80%, MEP 20%|
|Breena Plains JV||Qld||SFR 100%, OZL/MEP to earn up to 75%|
|Peake & Denison||SA||MEP 100%|
|Base Metals||Windsor||Qld||MEP 100%|
|Industrial Minerals||Great White Kaolin JV||SA||ADN 51%, MEP 49% ADN earning 75%|
Halloysite Research & Development
|Natural Nanotech Pty Ltd||ADN 50%, MEP 50%|
Rationale: The JVs aim at delineating one or more deposits similar to the Eloise/Jericho deposits to warrant development of new mines and a new processing plant: the Cloncurry Minerals Hub
- Attract top tier farm-in partners
- Minimise equity dilution
- Reduce exploration risks
- Maintaining exposure to both exploration and development success
For OZL: growth through farm-in into new assets with:
- Tier-one jurisdiction.
- Long life.
- Expected good profitability
- No cash burn for MEP, but still significant exploration expenditure: $9.1 million in FY2019, $3.7 million in FY2020
- OZL has a strong balance sheet to finance both the exploration expenditure and the development capital
- OZL has the expertise and successful track record to develop and operate mining projects